ASX-listed uranium company GTI Energy has increased the mineral resource estimate (MRE) of its Lo Herma project, in the Power River basin, in Wyoming, in the US, by 50% to 8.57-million pounds equivalent triuranium octoxide (eU₃O₈), including 2.78-million pounds indicated and 5.79-million pounds inferred.

The MRE for the project is focused on mining by in-situ recovery (ISR) methods and is reported at an appropriate cut-off grade of 200 ppm U₃O₈ and a minimum grade thickness of 0.2 per mineralised horizon as: 6.21-million tonnes of total mineralisation at average grade of 630 ppm eU₃O₈ for 8.57-million pounds of eU₃O₈ contained metal classified as 2.78-million pounds of indicated and 5.79-million pounds of inferred.

The exploration target range (ETR) for Lo Herma has also been updated and has increased, since first reported to ASX in July last year, and now stands at a range of between 5.59-million and 7.10-million tonnes at a grade range of 500 ppm to 700 ppm U₃O₈.

GTI’s combined uranium MRE across its Wyoming projects, including the Great Divide basin, is now 10.32-million pounds with an additional exploration target.

The potential quantity and grade of exploration targets is conceptual in nature and there has been insufficient exploration to estimate a Joint Ore Reserve Committee-compliant MRE.

It is uncertain if further exploration will result in the estimation of an MRE in the defined exploration target areas. In addition to drilling conducted in 2024, exploration targets have been estimated based on historical drill maps, drill hole data, aerial geophysics reported during 2023 and drilling by GTI conducted during 2023 to verify the historical drilling information.

There are now 954 drill holes in the Lo Herma project area with the 2023 and 2024 drill programmes conducted by GTI designed, in part, to test the Lo Herma Exploration Target.

“We are delighted with the major uplift in Lo Herma’s uranium resource, now 50% larger at 8.57-million pounds. This important milestone positions Lo Herma favourably in size against Ur-Energy’s nearby 8.8-million pounds Shirley Basin ISR build, and Encore Energy’s 8.1-million pounds Gas Hills ISR project.

“Importantly, over 30% of Lo Herma’s resource is lifted into indicated classification with an expanded exploration target pointing the way to even greater potential for growth.

“Given Lo Herma's proximity to several major ISR production facilities within 60 miles, we believe this project has strong potential to transition into production. Our immediate focus is completing a scoping study in the first half of 2025.

“This material resource upgrade plus the significant exploration target confirms our belief that 8.57-million pounds is just the starting point for Lo Herma,” comments GTI Energy executive director Bruce Lane.

Planning and permitting is under way for additional exploration drilling work in 2025 to further test the ETR across the project. The historical drilling development primarily targeted shallow mineralisation for conventional mining, with a much later focus on deeper areas with ISR potential.

Most of the ongoing exploration potential is within the lesser explored northern portion of the project, the deeper sand horizons, and the deeper sands of the Fort Union formation.

LO HERMA SCOPING STUDY

GTI has engaged Wyoming-based BRS Engineering to conduct the scoping study.

BRS and GTI have maintained a long-standing relationship and BRS has significant experience with Wyoming ISR project development from exploration through to construction and rehabilitation.

Lo Herma drill core samples were logged and split for chemical assay and metallurgical testing.

Composites have now been prepared, based on receipt of assays for metallurgical testing under alkaline leach conditions commonly used in ISR mining operations in the Powder River basin.

Results are expected in early 2025.

The company estimates that the final phase of its drilling campaign will now be completed during early 2025 with construction of three hydrogeologic and water monitoring wells.