HIGHLIGHTS – FAST TRACK TO SCOPING STUDY
Project Location & Infrastructure
The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin (PRB), Wyoming (WY). The Project lies approximately 15 miles north of the town of Glenrock and within ~60 miles of five (5) permitted ISR uranium production facilities.
These facilities include Ur Energy’s producing Lost Creek ISR plant and Shirley Basin satellite plant (in construction), UEC’s currently producing Willow Creek (Irigaray & Christensen Ranch) & it idled Reno Creek ISR plants, Cameco’s idled Smith Ranch-Highland ISR facilities and Energy Fuels idled Nichols Ranch ISR plant (Figure 1).
The Powder River Basin has extensive ISR uranium production history with numerous defined ISR uranium resources, central processing plants (CPP) and satellite deposits (Figure 1).
The Powder River Basin has been the backbone of Wyoming uranium production since the 1970s.
Lo Herma is ~10 miles from the US’s largest ISR U₃O₈ production plant at Cameco’s Smith Ranch-Hyland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek. The Powder River Basin has an extensive ISR uranium production history and has been the backbone of the Wyoming uranium production business since the 1970s.
Historical Drilling Data Acquisition
As reported to ASX on 14 March 2023, a comprehensive historical data package, with an estimated replacement value of ~$15m, was purchased for Lo Herma in March of 2023. The data package includes original drill data for roughly 1,771 drill holes, from the 1970’s and 1980’s, pertaining to the Lo Herma region. A total of 1,391 original drill hole logs were digitised for gamma count per second (CPS) data and converted to eU3O8% grades.
833 of these historical drill holes are located on GTI’s land position and were used to prepare the maiden MRE. 21 additional drill holes are located in an expanded area of additional claims that were subsequently staked across Section 4 of Township 36N, Range 75W. Along with the 26 drill holes completed in the initial 2023 drill program, GTI holds data from 880 drill holes within the current Lo Herma mineral holdings prior to the recently completed 73 hole drill campaign.
FIGURE 1. LOCATION OF WYOMING ISR PROPERTIES
An initial Exploration Target for the Lo Herma project was previously announced to the ASX on 4 April 2023. An additional data package, containing previously unavailable drill maps with geologically interpreted redox trends, was subsequently secured by GTI, as announced to the ASX on 27 June 2023.
Additional redox trends have been interpolated based on the 2023 and 2024 drilling and the acquisition of newly located mineral claims allowing the Exploration Target to be updated (table 1).
TABLE 1: SUMMARY OF GTI WYOMING RESOURCES & EXPLORATION TARGETS AT 12/12/24
The potential quantity and grade of Exploration Targets is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant MRE. It is uncertain if further exploration will result in the estimation of a 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 (as 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 drill programs conducted by GTI during 2023 and 2024 designed, in part, to test the Lo Herma Exploration Target.
TABLE 2: LO HERMA UPDATED MINERAL RESOURCE ESTIMATE AT 12/12/24
FIGURE 2: LO HERMA PROJECT COLLAR LOCATIONS AND MINERAL RESOURCE AREAS
FIGURE 3: GEOLOGIC CROSS SECTION OF MINERALISED DRILL HOLE INTERCEPTS IN THE C SAND HORIZON
FIGURE 4: LO HERMA GEOLOGICAL SETTING, WASATCH & FORT UNION FORMATIONS
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