American Uranium (ASX:AMU) has begun resource development drilling at the Lo Herma In Situ Recovery (ISR) Uranium Project in Wyoming’s Powder River Basin, US.
Drilling is intended to expand and upgrade the known resource of the project, which is currently marked at 8.57 million pounds of triuranium octoxide.
American Uranium expects to announce a resource update at the end of Q1 2026.
The company is conducting 6,900m of drilling for up to 15 holes, targeting resource growth north of Mine Unit 2.
In Q2 2026, American Uranium will conduct infill drilling at Mine Units 1 and 2 for a further resource upgrade that will be implemented into a Scoping Study in Q3 2026.
CEO Bruce Lane says the company is pleased to follow up on the “success” of 2025 drilling, which confirmed mineralised extensions to the north.
“The 2026 resource development program is designed to further increase both the scale and confidence of the Lo Herma uranium resource ahead of an interim mineral resource update by the end of March,” Lane says.
“This work lays the foundation for our Q2-scheduled infill drilling campaign and the updated Scoping Study in Q3 2026, which will assess Lo Herma’s potential to deliver similar economic outcomes to other ISR uranium developments in Wyoming.
“Lo Herma remains one of the very few near-term, low-cost ISR uranium projects in the United States, and today’s commencement of drilling is another important step in advancing the project toward development.”
As reported by Mining.com.au, the company upgraded its trading status on the US market from the OTCID to the OTCQB Venture Market to increase North American investor interest.
American Uranium is focused on advancing the Lo Herma In-Situ Recovery Uranium Project located in Wyoming’s Powder River basin in the US.
Write to Maddison Elliott at Mining.com.au
Images: American Uranium
