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- Strong continuity confirmed
- 21 of 50 holes intersected mineralisation above grade cut-off
- Drilling expected to support conversion from Inferred to Indicated resources
- Updated MRE and scoping study targeted for Q3 2026
American Uranium (ASX:AMU) has successfully completed a drilling program designed to underpin the next resource upgrade and a Q3 scoping study at the Lo Herma project in Wyoming.
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The final results have confirmed continuity of uranium mineralisation within Mine Unit 1 and successfully extended mineralised trends south of Mine Unit 2.
These results are expected to materially support the planned Q3 2026 mineral resource estimate (MRE) update and scoping study through further conversion of Inferred resources to Indicated classification while also demonstrating potential for additional growth of Lo Herma’s current 9.45 million pounds (Mlbs) U3O8 MRE.
CEO, Bruce Lane, said this drilling, together with an upcoming regional aquifer pump‐test program at Mine Unit 1, are designed to support Lo Herma’s progression toward ISR mine development.
“These final drilling results have achieved the key objectives of the program, confirming continuity within Mine Unit 1 and extending mineralisation south of Mine Unit 2,” Mr Lane said.
“The results are expected to support our upcoming Mineral Resource Estimate update and continued advancement of Lo Herma toward ISR development. With drilling now complete, our focus turns to delivering the updated mineral resource estimate and Q3 2026 Scoping Study, which are expected to further demonstrate Lo Herma’s development potential as a Wyoming ISR uranium project.”
Of the 50 drill holes completed in this program, including those previously reported in May, 21 holes intercepted mineralisation meeting or exceeding the 0.02% eU3O8 grade cutoff.
Thirteen of the drill holes exceeded the target grade thickness (GT) of 0.2 GT. The strongest of the 50 holes in the program was the previously reported 5.8m of average 0.056% eU3O8 with grade thickness of 1.06 in hole LH-26-026.
Of the latest holes reported in this release, the strongest intercept was 6.9m of average 0.044% eU3O8, with grade thickness of 0.99m.
The principal objective of the program was to increase resource confidence and support future development studies through resource conversion and targeted resource growth drilling. By reducing drill spacing within Mine Unit 1 and extending mineralisation south of Mine Unit 2, Mr Lane said the company expects the results to support increased confidence in Lo Herma’s MRE and the robustness of the planned Q3 2026 scoping study.
An additional goal of the project was to install additional monitoring wells at Mine Unit 1 to support the next phase of hydrogeological studies. Five of the monitor wells were completed through the production zone of the aquifer and provided additional resource datapoints.
The hydrogeologic studies intend to better characterise the production aquifer with a larger regional pump test including several observation wells set in the production sand and overlying and underlying sand units.
AMU was steady at 7.2¢ with a Mkt cap of $9.310M prior to markets opening.
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