Lo Herma Uranium Development Project To Advance With Cornerstone Investment

WINNIPEG – Snow Lake Resources Ltd., d/b/a Snow Lake Energy reported a cornerstone investment in GTi Energy Ltd. to advance its Lo Herma uranium project through the next phase of drilling and fieldwork, aimed at expanding and upgrading Lo Herma’s mineral resource base.

Highlights

GTi Energy recently completed a positive scoping study on Lo Herma in accordance with JORC (2012)1, which is a preliminary technical and economic assessment of the potential viability of Lo Herma. For more information on the scoping study. The Scoping Study contemplated an ISR operation with a central processing plant, a JORC (2012) resource estimate of 8.7Mlbs U3O8, a 7-year mine life, an annual production target of 800,000 lbs U3O8, with an NPV of A$100 million and a pre-tax IRR of 56%

Lo Herma is one of the more advanced development stage uranium projects in the Powder River Basin, and further development holds the potential to increase the uranium production profile of the Powder River Basin in Wyoming.  

“Our investment in GTi Energy’s equity financing is the most recent example of our strategy to invest in companies with critical minerals projects across the spectrum of critical minerals, including uranium, lithium, rare earths, cesium, and antimony,” said Frank Wheatley, CEO. “With GTi Energy’s Lo Herma uranium project located in the prolific Powder River Basin in Wyoming, with a positive scoping study recently released, and against the backdrop of the U.S. Administration’s policies underpinning the expansion of nuclear energy in the U.S., we view our investment in GTi Energy as timely, as GTi Energy embarks on a development program to expand it mineral resources at Lo Herma.”