GTI Energy ready to drill

Published 08-NOV-2023 11:21 A.M.

1 min read

Shares Held: 41,043,000

Options Held: 1,579,715

Our US uranium Investment GTI Energy (ASX: GTR) is ready to start drilling at its projects in Wyoming, the uranium capital of the USA.

GTR expects to kick off a 26 holes (~4,600m) drill program at its Lo Herma project later this month.

After the results from the first round of drilling comes in GTR expects to expand the program to a total of ~68 holes.

The ultimate purpose for the drill programs will be to increase GTR’s existing JORC resource base.

At the moment GTR has JORC uranium resources of ~7.37m lbs across three projects, all within ~80km of five permitted, ready to go uranium processing plants

Two of the three projects have a combined exploration target of up to ~19.79m lbs of uranium.

Following this years drill programs we want to see GTR increase its resource to a level closer to (or above) its exploration targets.

GTR’s first round of drilling:

The first ~26 holes will be drilled at Lo Herma where GTR recently ran airborne geophysical surveys.

The target will be the bright purple areas from the survey in the image below:

For context - the yellow sections on the right are where GTR has already managed to define a JORC resource. The existing JORC sits ontop of the purple targets identified with geophysics AND inside GTR’s exploration target area.

More airborne geophysics results on the way:

GTR also has results pending from airborne geophysical surveys run at its Green Mountain and Loki West projects.

GTR confirmed that “in-depth analysis of the geophysical results, combined with historical drilling and mapping data” for those projects would be ready in the coming weeks.

Drilling across those projects is expected in the second half of 2024.