GTR’s first batch of uranium drill results

Published 31-JUL-2024 12:54 P.M.

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Our US uranium Investment GTI Energy (ASX: GTR) just put out results from the first 10 holes of its drill program in Wyoming.

GTR is currently in the middle of a 76 hole drill program (for ~~17,000M of drilling) at its Lo Herma project - Lo Herma is one of three projects GTR has in Wyoming.

Of the total 7.37M lb in uranium JORC resources across the three projects - Lo Herma holds ~5.71M lbs of that.

The focus for GTR’s current drill program is on extending Lo Herma’s existing resource - today’s results are showing there is a good chance GTR will manage that.

8 out of GTR’s first 10 holes all hit mineralisation with two holes hitting intercepts >4.2m thick with uranium grades as high as 0.64%.

Holes one and two both had Grade Thickness (GT) averaging ~1.02.

That number is important because the typical cut-off for what is economic on ISR uranium projects is 0.2 (3m intercepts with grades >0.2%.

So two of GTR’s holes are almost 3x stronger than results that are typically considered economic.

Here is where those results came from relative to GTR’s existing resource at Lo Herma:

How today’s news relates to our GTR Investment Memo:

Objective #1: Drilling at first Wyoming Project - Lo Herma

We want to see GTR define drill targets and then drill its most advanced Lo Herma uranium project in Wyoming. We want GTR to upgrade its existing 5.71m lb JORC resource for the project.

Milestones
✅ Geophysics/Geochemical surveys
✅ Permitting/planning
✅ Define drill targets
✅ Drilling started
🔄 Drilling results

Source: “What do we expect GTR to deliver” Section - GTR Investment Memo 4 Aug 2023

GTR still has over 60 holes to drill so we will be watching out for results over the coming weeks.