Special Report : The final phase of GTI Energy’s 2024 exploration campaign will commence in late October, in line with plans to update its Lo Herma U3O8 resource by the end of this year. The final phase of GTI Energy (ASX:GTR) 2024 drilling will be focused on construction of three hydrogeologic and water monitoring wells in advance of an update to the current 5.7Mlb U3O8 inferred resource (at 630ppm average grade) and the exploration target of an additional 5 – 10Mlbs U3O8 (grade range 570 – 670ppm).
The plan is for the updated resource plus hydrogeology and met testing data will all bundle into a planned scoping study to illustrate Lo Herma’s economic potential. Moves and shakes in US Uranium districts It comes as Wyoming emerges as one of the hottest districts for uranium miners globally, evidenced by a massive M&A push by established players. NYSE-listed Uranium Energy Corp recently acquired all of Rio Tinto's (ASX:RIO) Wyoming yellowcake assets for US$175m, including the Sweetwater uranium plant and a portfolio of projects in the Great Divide Basin and at Green Mountain.
UEC is the USA’s largest uranium company and this latest purchase builds upon on its transformative purchase of Uranium One Americas in 2021, which significantly expanded its holdings in the Great Divide Basin. UEC points to meaningful development synergies between their previous purchase and the Rio portfolio acquisition. The move will bolster UEC’s in ground uranium inventory by circa 175Mlb.