GTI Energy Ltd (GTI or Company) is pleased to provide the following activity update. The anticipated Mineral Resource Estimate (MRE) and Exploration Target (ET) updates for GTI’s Lo Herma ISR uranium project (Lo Herma) in Wyoming’s Powder River Basin remains on track to be delivered by year end. A decision will then be made on commencing an Interim Scoping Study for the project.
HIGHLIGHTS
Mineral Resource Estimate & Exploration Target updates on track for late 2024
New staking to extend Lo Herma project along trend
Lo Herma drill core samples have been prepared for chemical assay and metallurgical testing with samples for assay submitted to the lab
Completion of hydrogeological holes expected in December
NEW STAKING EXTENDS LO HERMA PROJECT FOOTPRINT ALONG TREND
The Company has recently completed the first phase of a staking program to secure additional ground along trend at Lo Herma. Phase 1 has increased Lo Herma’s footprint by 300 acres to the north of Section 4 and phase 2, to be completed in December, is expected to add 143 acres to the south of Section 4. Staking is estimated to extend the mineralised trends at Lo Herma by circa 1 mile (~1.6kms).
LO HERMA METALLURGICAL TESTING
Lo Herma drill core samples have been logged and split for chemical assay and metallurgical testing. Samples for assay have now been submitted to the lab. Upon receipt of the assays, composites will be prepared for metallurgical testing under alkaline leach conditions. Analysis will also include a comparison of chemical assays to gamma probe field assays. Results are expected in early 2025.
DRILLING
The Company estimates that the final phase of its 2024 drilling campaign will be completed during December with construction of 3 hydrogeologic and water monitoring wells. GTI has decided to defer drilling at its Green Mountain project and will consider further investment in the project during 2025.
EMMISIONS REPORTING
GTI has tracked, independently verified, mitigated and offset its organisational Greenhouse Gas (GHG) emissions for the last 3 calendar years under the Australian Government’s Climate Active Program. The Company remains committed to its focus on sustainability, including tracking and managing its GHG emissions going forward, however GTI has decided to withdraw from the Climate Active program effective 4th October 2024. The annual emissions report for the year ending 31st December 2023 is due to be published imminently and will be the Company’s final Climate Active disclosure.
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