American Uranium (ASX:AMU) is starting drilling at its Lo Herma In-Situ Recovery Project in Wyoming, US, next month.
The company has planned to drill up to 55 holes to start in early May 2026, including infill drilling at Mine Unit 1 and expansion drilling at recently secured mineral rights south of Mine Unit 2.
The campaign will support ongoing hydrogeological and technical field programs for future development studies.
Drill results are expected to support a resource estimate update ahead of a planned Scoping Study in Q3 2026.
Executive Director Bruce Lane says the drilling campaign follows “successful” drilling campaigns across 2025–26 and a recent resource upgrade.
“This next phase of drilling is designed to further grow and upgrade resources within our priority Mine Unit areas, including testing mineralised trends within an area of newly secured mineral rights south of proposed Mine Unit 2, ahead of our planned Q3 2026 resource updates and Scoping Study,” Lane says.
American Uranium has been approved to drill up to 121 holes across 37,500m. The company has completed 66 holes to date.
As reported by Mining.com.au, the company will conduct a non-renounceable pro-rata entitlement offer to fund exploration at Lo Herma, opening on 1 May and closing on 15 May 2026.
Trading Economics marks the price of uranium at US$87.15 ($122.26) per pound as of 24 April, a 31.75% increase year-on-year.
The Lo Herma Project spans 13,500 acres in the Powder River Basin, hosting a JORC-compliant resource of 8.57 million pounds of triuranium octoxide, which American Uranium says holds “substantial growth potential”.
American Uranium is focused on advancing the Lo Herma In-Situ Recovery Uranium Project in Wyoming.
Write to Maddison Elliott at Mining.com.au
Mining.com.au may hold shares in American Uranium.
Images: American Uranium
