GTI Energy (ASX:GTR) has received a key input into the Scoping Study for the Lo Herma Uranium Project in the US, after completing agitation leach studies.
The studies were conducted on mineralisation recovered from drillcore at Lo Herma, which revealed that the mineralisation responded well and is amenable to the alkaline in-situ leach process.
GTI Energy, which has a market capitalisation of $8.88 million, reports uranium recoveries achieved 75%, which is consistent with in-situ recovery (ISR) projects in the Southern Powder River Basin of Wyoming, US.
Executive Director Bruce Lane says these results confirm that the uranium mineralisation at Lo Herma is amenable to the alkaline leach chemistry used at nearby productive deposits.
“We now look forward to completing the hydrogeologic analysis for the Scoping Study,” Lane says.
“Following the recent major uplift in Lo Herma’s uranium resource, now 50% larger at 8.57 million pounds plus a significant exploration target, our immediate focus is to complete a Scoping Study.”
These results, combined with upcoming permeability testing results, is considered key information to the Scoping Study which is anticipated to be delivered in the first half of this year.
The Lo Herma Project is located in Converse County in the Powder River Basin of Wyoming.
Since the 1970s, the Powder River Basin has been considered the backbone of Wyoming’s uranium production. The area has extensive ISR uranium production history with numerous defined ISR uranium resources, central processing plants, and satellite deposits.
GTI Energy is focused on defining and developing economic ISR uranium resources.
Uranium prices fell to around US$80 a pound at the end of last year and were sitting at US$93 in January, down from a historical high of over US$100 a pound in early 2024 as the market stabilised from a major supply shock in the March quarter.
Rising demand and supply issues are likely to push prices back up in 2025 with forecasts of a US$94 a pound price in 2026, as reactors continue to draw from inventory to meet requirements.
Write to Aaliyah Rogan at Mining.com.au
Images: GTI Energy
