GTI Energy sets sights on resource expansion with new drilling

Proactive - Interviews for investors

GTI Energy Ltd (ASX:GTR, OTC:GTRIF) executive director Bruce Lane joins Proactive’s Jonathan Jackson to detail the objectives and potential of its 2024 Phase II drilling program at the Lo Herma ISR Uranium Project in Wyoming’s Powder River Basin. The program aims to expand the resource areas and upgrade the mineral resource classification where feasible. The current inferred mineral resource estimate stands at 5.71 million pounds of uranium (U3O8) at an average of 630ppm. The drilling program, scheduled to start in late July or early August, follows a recent capital raise of $2.25 million from sophisticated and institutional shareholders, fully funding the drilling and a subsequent scoping study. The permit allows for up to 76 drill hole locations and the construction of up to five groundwater monitoring wells. Data collection will include hydrogeologic parameters of the mineralised aquifers and rock core samples for metallurgical testing. GTI Energy plans to publish an updated mineral resource estimate and exploration target range after the drilling is completed. This updated MRE is expected to support the near-term development of a scoping study, demonstrating the project's economic potential. Lane expressed satisfaction with the investor support, highlighting the readiness to start the drilling program and advance the revised mineral resource estimate. #ProactiveInvestors #GTIEnergy #ASX #UraniumMining, #ResourceExpansion, #LoHermaProject, #PowderRiverBasin, #DrillingProgram, #MineralResourceEstimate, #HydrogeologicData, #MetallurgicalTesting, #ScopingStudy, #InvestorFunding, #EconomicPotential, #UraniumResource, #Wyoming, #ISRMining, #CapitalRaise, #GroundwaterMonitoring, #ExplorationTarget, #MineralResourceUpgrade, #MiningIndustry #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews