GTI Energy (ASX:GTR) is advancing its Lo Herma In-Situ Recovery (ISR) Uranium Project in Wyoming, US, with plans for an expanded exploration and development program in 2025. The company’s recent Scoping Study provided significant encouragement to increase investment in the 100%-owned project, located in the Southern Powder River Basin. The next phase focuses on increasing the total mineral resource and upgrading the confidence level of the current inferred resource. An amended drilling permit will soon be lodged with Wyoming’s Department of Environment Quality.
The upcoming work program includes collecting additional hydrogeologic data and drill core samples for metallurgical testing. Aquifer pump testing of water monitor wells will also be conducted to inform the hydrogeologic model and support environmental and operational planning. CEO Bruce Lane highlighted the positive baseline economics established by the interim Scoping Study, noting the strengthening US nuclear power sector and tightening uranium supply. Global uranium demand is projected to rise from 95 kilotonnes in 2024 to 105 kilotonnes in 2030, driven by nuclear power expansion in countries like China and India.
The Scoping Study, conducted by BRS Engineering, evaluated an alkaline ISR mine and central processing plant at Lo Herma, along with an alternative satellite mining operation. The study identified suitable wellfield layouts, a processing flowsheet, and a CPP site, estimating capital and operating costs based on uranium prices ranging from US$60 to $90 per pound of U3O8. While the study demonstrated the project’s potential viability, GTI cannot yet release forecast production and financial information due to a significant proportion of the resource being classified as ‘inferred’ under the JORC code.
