Lo Herma, Powder River Basin.
HIGHLIGHTS – FAST TRACK TO SCOPING STUDY
- Inferred Mineral Resource Estimate of 5.71 Mlbs U₃O₈ at average 630ppm for Lo Herma (refer Table 1).
- Exploration Target Range of an additional 5.87 – 10.26Mlbs U₃O₈ at 500-700ppm (refer Table 1).
- GTI’s combined Wyoming Inferred Mineral Resources now 7.37 Mlbs U₃O₈
- Lo Herma is ~10 miles from the US’s largest ISR U₃O₈ production plant at Cameco’s Smith Ranch-Hyland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek
- Drilling underway to increase global resource, upgrade resource confidence, collect met samples for testing and construction of water monitoring wells
- Decision to proceed with scoping study in Q4 2024 pending resource upgrade
Project Location & Infrastructure
The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin (PRB), Wyoming (WY). The Project lies approximately 15 miles north of the town of Glenrock and within ~60 miles of five (5) permitted ISR uranium production facilities.
These facilities include Ur Energy’s producing Lost Creek ISR plant and Shirley Basin satellite plant (in construction), UEC’s currently producing Willow Creek (Irigaray & Christensen Ranch) & it idled Reno Creek ISR plants, Cameco’s idled Smith Ranch-Highland ISR facilities and Energy Fuels idled Nichols Ranch ISR plant (Figure 1).
The Powder River Basin has extensive ISR uranium production history with numerous defined ISR uranium resources, central processing plants (CPP) and satellite deposits (Figure 1).
The Powder River Basin has been the backbone of Wyoming uranium production since the 1970s.
Figure 1. Location of Wyoming ISR Properties
Lo Herma is ~10 miles from the US’s largest ISR U₃O₈ production plant at Cameco’s Smith Ranch-Hyland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek. The Powder River Basin has an extensive ISR uranium production history and has been the backbone of the Wyoming uranium production business since the 1970s.
Historical Drilling Data Acquisition
As reported to ASX on 14 March 2023, a comprehensive historical data package, with an estimated replacement value of ~$15m, was purchased for Lo Herma in March of 2023. The data package includes original drill data for roughly 1,771 drill holes, from the 1970’s and 1980’s, pertaining to the Lo Herma region. A total of 1,391 original drill hole logs were digitised for gamma count per second (CPS) data and converted to eU3O8% grades.
833 of these historical drill holes are located on GTI’s land position and were used to prepare the maiden MRE. 21 additional drill holes are located in an expanded area of additional claims that were subsequently staked across Section 4 of Township 36N, Range 75W. Along with the 26 drill holes completed in the initial 2023 drill program, GTI holds data from 880 drill holes within the current Lo Herma mineral holdings prior to the current 76 hole drill campaign.
An initial Exploration Target for the Lo Herma project was previously announced to the ASX on 4 April 2023. An additional data package, containing previously unavailable drill maps with geologically interpreted redox trends, was subsequently secured by GTI, as announced to the ASX on 27 June 2023 (refer to Table 1).
Whilst additional redox trends were interpolated based on the 2023 drilling and acquisition of the newly located mineral claims, the Exploration Target has not yet been updated. GTI plans to update the mineral resource and exploration target estimates following completion of the current 2024 drilling campaign.
Table 1: Summary of Exploration Targets & Resources
FIGURE 2. LO HERMA ISR URANIUM PROJECT DETAIL, POWDER RIVER BASIN, WY
FIGURE 3. LO HERMA GEOLOGICAL SETTING, WASATCH & FORT UNION FORMATIONS
FIGURE 4. MUD ROTARY DRILLING AT GTI’S LO HERMA PROJECT, WYOMING
