GTR’s second US uranium JORC resource on track for end of Q2
Our US uranium Investment GTI Energy (ASX: GTR) now expects to have its second JORC uranium resource at its newly acquired project in Wyoming by the end of Q2.
Back in March GTR acquired $15M in drilling data at its “Lo Herma” project.
The theory then was that by acquiring the data, GTR would be saving months (if not years) in time that would be spent drilling and instead could put together a JORC resource by modernising all of the data.
Now GTR has digitised ~95% of the data it acquired and resource modelling is underway.
A maiden JORC resource is expected by the end of Q2.
GTR’s Lo Herma project sits within 16km of $16BN Cameco’s ISR uranium plant (the largest production site in Wyoming), and ~80km of five permitted ISR uranium production facilities.
At this stage, GTR has an exploration target for the project ranging from ~8m lbs of uranium to ~14m lbs of uranium.
Ultimately, we are hoping that as GTR establishes an in-ground uranium resource base, the company starts to get noticed by its regional peers - this forms the basis for our GTR “Big Bet”, which is as follows:
Our GTR Big Bet:
“To see GTR prove out a large resource base in the “uranium capital” of the USA, and generate offtake or acquisition interest as the USA moves to secure local uranium supply.”
NOTE: our “Big Bet” is what we HOPE the ultimate success scenario looks like for this particular Investment over the long term (3+ years). There is a lot of work to be done, many risks involved - just some of which we list in our GTR Investment Memo. Success will require a significant amount of luck. There is no guarantee that our Big Bet will ever come true.
What’s next for GTR?
- Lo Herma JORC resource 🔄 - Maiden JORC resource estimate due by the end of Q2-2023.
- Exploration at Lo Herma project 🔄 - Airborne geophysics planned for May followed by a drill program in H2-2023.
- Exploration at Green Mountain project 🔄 - Airborne geophysics planned with drilling targeted for H2-2023.
