GTI Energy Ltd (ASX: $GTR) announces contracted drilling services for 2024 program

GTI Energy Ltd (ASX: $GTR) has announced the successful contracting of its preferred Wyoming based exploration drilling contractor for the 2024 drill program at the Lo Herma Project. The company has locked in both contract rates and a schedule for what appears to be a very busy 2024 drilling season in the uranium sector across Wyoming.

Executive Director's Comments on Drilling Services Contract

We are very pleased to get our Lo Herma drilling contract locked in with our preferred supplier for what will be our third season working together in Wyoming. We are now waiting on the final approval of our amended drilling plan and the related bond assessment which should be completed in time for drilling to commence as planned in July. In addition, we look forward to submitting our drilling application for Green Mountain now that we been able to complete the final on-site review of drill site access.

Summary of ASX Announcement

GTI Energy Ltd (ASX: $GTR) has successfully contracted its preferred Wyoming based exploration drilling contractor for the 2024 drill program at the Lo Herma Project. The company is progressing well with planning for the 2024 field season in Wyoming. The planned 2024 drilling program at Lo Herma includes 71 drill hole locations and construction of up to 5 groundwater monitoring wells, focused on expanding the resource areas and upgrading the current mineral resource classification. Following completion of the 2024 drill program at Lo Herma, GTI intends to publish an updated mineral resource estimate and exploration target range for the project, supporting near-term development of a Scoping Study to demonstrate the economic potential of the project. The company also expects to submit the drilling application for Green Mountain after completing the final on-site review of drill site access. GTI continues to anticipate that drilling will commence at Lo Herma during July 2024.