American Uranium has started drilling the final 55 holes at its Lo Herma uranium project in Wyoming, aiming to expand and upgrade resources before a planned Q3 2026 Mineral Resource update and Scoping Study.
- 55-hole drilling campaign underway at Lo Herma
- Focus on Mine Units 1 and 2 resource expansion
- Hydrogeological and metallurgical studies in progress
- Q3 2026 Mineral Resource update and Scoping Study targeted
- Lo Herma remains flagship project with 9.45 million pounds uranium
Final Drilling Phase Commences at Lo Herma
American Uranium Limited (ASX:AMU) has kicked off the remaining 55 holes of its approved 121-hole drilling permit at the Lo Herma ISR uranium project in Wyoming’s Powder River Basin. This phase aims to both expand and upgrade mineral resources within the priority Mine Units 1 and 2, while testing newly acquired mineral rights south of Mine Unit 2. The drilling forms a critical part of the company’s strategy to de-risk the project ahead of a Mineral Resource update and Scoping Study planned for Q3 2026.
With 66 holes already completed, this latest push brings the total drilling program closer to its permitted maximum of approximately 37,500 metres. The program includes infill drilling to improve geological confidence and step-out drilling into highly prospective areas, reflecting a disciplined approach to resource expansion. Parallel hydrogeological and metallurgical work is underway to refine development assumptions, supporting future study inputs.
Lo Herma’s Growing Resource Base and Technical Work
The Lo Herma project is AMU’s flagship asset, boasting an updated Mineral Resource Estimate (MRE) as of 31 March 2026 of 9.45 million pounds of contained uranium oxide (U3O8), with 43% classified as Indicated. This forms a substantial portion of AMU’s total Wyoming resources, which stand at 11.11 million pounds of contained uranium across Lo Herma and the Great Divide Basin project. The current drilling and technical programs are designed to support a resource upgrade that could underpin development decisions.
Executive Director Bruce Lane highlighted the significance of this drilling phase, noting it follows successful campaigns in 2025 and early 2026. The company is pushing to convert exploration targets into JORC-compliant resources, with over 1,000 drill holes now logged at Lo Herma. The hydrogeological and metallurgical studies running alongside drilling will feed into the planned Scoping Study, aimed at advancing project feasibility.
Funding and Strategic Positioning
This drilling campaign is supported by a recent $2.59 million entitlement offer, which underscores AMU’s commitment to advancing Lo Herma’s development. The offer, which includes free attaching options, is intended to fund the ongoing technical work and drilling programs. This capital raise reflects investor appetite for uranium projects with defined resources and clear development pathways, particularly in stable jurisdictions like Wyoming.
AMU’s broader portfolio includes other drill-permitted projects in Wyoming’s Great Divide Basin and Green Mountain area, as well as conventional uranium and vanadium assets in Utah’s Henry Mountains, positioning the company well within the US uranium sector. The ongoing work at Lo Herma, however, remains the focal point for near-term value creation and technical de-risking.
Technical and Regulatory Oversight
The company’s resource estimates and exploration targets are prepared and reviewed by qualified experts, including Doug Beahm of BRS Engineering Inc., who has over 50 years’ experience in uranium exploration and mining. AMU confirms no material changes to the assumptions underpinning its resource estimates since the last update. The upcoming Mineral Resource update and Scoping Study will adhere to JORC Code (2012) standards and ASX Guidance Note 31, aiming to provide investors with a clearer picture of project economics and development potential.
While drilling results and technical studies are eagerly awaited, the company cautions that forward-looking statements involve risks and uncertainties, and actual outcomes may differ from current expectations. The planned Q3 2026 milestones will be key to assessing the project’s trajectory.
With drilling now underway, the market will be watching how these efforts translate into resource growth and technical validation, setting the stage for potential development decisions later this year. This drilling phase builds on momentum from the company's $2.59 million entitlement offer and follows the planned 55-hole drilling campaign announcement, reinforcing AMU’s methodical approach to advancing its flagship uranium asset.
Bottom Line?
Lo Herma’s drilling and technical programs will be pivotal in shaping AMU’s development prospects ahead of its Q3 2026 resource update and Scoping Study.
Questions in the middle?
- Will the upcoming drilling results materially increase the Indicated Mineral Resource at Lo Herma?
- How will hydrogeological and metallurgical findings impact the planned Scoping Study assumptions?
- What financing steps will AMU pursue following the Q3 2026 resource update to advance project development?