Permitting done, drilling for uranium in September

This morning our US-based uranium exploration Investment GTI Energy (ASX: GTR) announced it has completed all required permitting for its 2022 drilling program.

GTR is planning a 100,000 foot (~30,000 metre) drilling program across its uranium projects in Wyoming. Drilling is due to start in the coming weeks and should be completed by Christmas.

GTR plans to drill ~130 holes across five different targets, following up on drilling done earlier in the year when the company announced a maiden discovery.

The ultimate aim of this drilling program is to put out a maiden uranium resource estimate or, at the very least, an achievable exploration target to base future exploration programs.

We will measure the success of GTR’s drilling program against the following expectations:

• Bull case = Uranium intercepts lead to a maiden JORC resource.
• Base case = Enough uranium intercepted to put together an achievable exploration target.
• Bear case = No uranium is intercepted. Projects are considered stranded.

We did a deep dive on the upcoming drilling program in our most recent GTR note which you can read here: GTR launching USA uranium drilling campaign