Lo Herma Drilling Targets Growth of 8.57Mlb Uranium Resource by March 2026

Drilling Resumes at Lo Herma

American Uranium Limited (ASX – AMU) has mobilised a mud rotary drill rig to the Lo Herma ISR uranium project in Wyoming’s Powder River Basin, signalling a renewed push to expand its uranium resource base. The drilling program, set to restart in the week commencing 9 February 2026, follows a successful 2025 campaign that extended mineralisation by 3 kilometres along trend.

Strategic Resource Expansion

The upcoming drilling phase will include up to 15 additional holes targeting resource growth primarily north of the proposed Mine Unit 2. This step-out drilling aims to build on the existing 8.57 million pound uranium resource, with an interim Mineral Resource update expected by the end of March 2026. The focus is not only on expanding the resource but also on increasing geological confidence ahead of more detailed infill drilling planned for the second quarter.

Path to Increased Confidence and Economic Assessment

Following the resource expansion drilling, American Uranium plans a significant infill drilling campaign of approximately 56 holes in Q2 2026. This phase is designed to upgrade the resource classification from Inferred to Indicated or Measured categories, which is critical for advancing project economics and securing investor confidence. The company anticipates releasing an updated Scoping Study in Q3 2026, aiming to demonstrate Lo Herma’s potential to rival other in-situ recovery uranium projects in Wyoming, such as Ur-Energy’s Shirley Basin.

Positioning in the US Uranium Market

Lo Herma stands out as one of the few near-term, low-cost ISR uranium projects in the United States. American Uranium’s CEO Bruce Lane highlighted the significance of the recent hydrogeological studies and drilling results as major steps toward advancing the project. The company’s strategy reflects a broader trend of revitalising domestic uranium supply chains amid growing demand and geopolitical considerations.

Looking Ahead

With drilling permits in place for up to 121 holes and over 37,000 metres of drilling, American Uranium is well-positioned to methodically advance Lo Herma through critical development milestones. The coming months will be pivotal as the market awaits the interim resource update and subsequent infill drilling results, which will shape the project's economic outlook and potential production timeline.