GTI Energy scores 8 out 10 from first drill holes at Lo Herma

Drilling at GTI Energy’s Lo Herma ISR uranium project is progressing ahead of schedule.

The first 10 holes of a 76-hole campaign at GTI Energy’s (ASX:GTR) Lo Herma project have seen mineralisation meeting expectations.

• GTI Energy has finished the first 10 drill holes at Lo Herma

• Eight of the 10 holes have intercepted on-trend mineralisation with the 2 best holes delivering outstanding Grade Thickness results

• Drilling is progressing ahead of schedule

Special report: The first 10 holes of a 76-hole campaign at GTI Energy’s Lo Herma project have been completed with mineralisation meeting expectations for economic ISR mining methods.

GTI Energy (ASX:GTR) is looking to expand and upgrade the current inferred resources at the Lo Herma ISR uranium project – currently sitting at 5.71Mlbs U3O8 at an average 630ppm – during its 2024 drilling campaign.

The project area set in Wyoming, USA – contains 8,800 drill holes with the permit allowing for up to ~17,000m spread across 76 drill hole locations including construction of up to five groundwater monitoring wells.

Once the program is wrapped up towards the end of Q3, GTR intends to publish an updated resource estimate and exploration target range to support near-term development of a scoping study to demonstrate Lo Herma’s economic potential.

Stand out drilling results

GTI has made a positive start to drilling with encouraging results already received for the first 10 drill holes.

The best mineralised intercepts received so far include 14.5ft at 0.0640% U3O8 (or 640ppm) in drillhole LH-24-002 and 16.5ft at 0.054% U3O8 (or 540ppm) in drillhole LH-24-001.

The company says the results returned thick, mineralised intercepts in excess of 4.2m (14ft) averaging 1.02 grade thickness for total hole intercepts.

Around eight of the 10 holes have intercepted on-trend mineralisation as the drilling contractor progresses on schedule, averaging 610m of drilling per day.

Tracking ahead of schedule

“It is really pleasing to see holes with such good thick intercepts and strong Grade Thickness results of around 1.0GT, well above our cut-off of 0.2GT,” GTI executive director and CEO Bruce Lane says.

“Drilling is currently tracking ahead of schedule, and we will provide further updates in the coming weeks as the program progresses.”

Mud rotatory drilling at Lo Herma. Pic: GTI Energy

This article was developed in collaboration with GTI Energy, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.