American Uranium Completes Lo Herma Drilling, Sets Up Q3 Resource Upgrade

Drilling Completion Marks Milestone at Lo Herma

American Uranium Limited (ASX:AMU) has completed its latest drilling campaign at the Lo Herma ISR uranium project in Wyoming, delivering 50 holes totalling approximately 12,757 metres. The program was designed to underpin a Mineral Resource Estimate (MRE) update and a scoping study scheduled for Q3 2026. The final results confirm robust continuity of uranium mineralisation within Mine Unit 1 and successfully extend mineralised trends south of Mine Unit 2, reinforcing the project’s resource base.

Key Intercepts and Resource Confidence

Out of 50 holes drilled, 42% intersected mineralisation above the 0.02% eU3O8 grade cut-off, with 13 holes exceeding the target grade thickness (GT) of 0.2. The standout intercept from the whole campaign was 5.8 metres averaging 0.056% eU3O8 (grade thickness 1.06) in hole LH-26-026. Among the latest results, hole LH-MW-005 delivered 6.9 metres at 0.044% eU3O8 (GT 0.99). These intercepts demonstrate multiple stacked mineralised horizons, confirming the roll-front uranium deposit model typical of the Powder River Basin.

Advancing Towards Indicated Resource Classification

The drilling program’s primary objective was to increase resource confidence by converting Inferred Resources to Indicated within the proposed Mine Units 1 and 2. The tighter drill spacing in Mine Unit 1 and step-out holes south of Mine Unit 2 are expected to materially support this conversion, which is critical for advancing the project’s development studies. Additionally, five hydrogeologic test wells were installed at Mine Unit 1 to facilitate upcoming regional aquifer pump testing, a key step in the in-situ recovery (ISR) mine development pathway.

Strategic Location and Project Context

Lo Herma sits in Converse County, Wyoming, within the prolific Powder River Basin, a region with a long history of ISR uranium production dating back to the 1970s. The project neighbours several permitted and historic ISR operations, including those owned by UEC, Cameco, and Energy Fuels. American Uranium has assembled a substantial historical data package, including over 1,700 historic drill holes, which complements its modern drilling campaigns and supports a comprehensive understanding of the deposit.

Upcoming Catalysts and Development Focus

With drilling now complete, American Uranium’s focus shifts to delivering an updated Mineral Resource Estimate and a Scoping Study in Q3 2026. These milestones will be crucial in demonstrating Lo Herma’s development potential as a Wyoming ISR uranium project. The company’s CEO, Bruce Lane, emphasised that the drilling results have met key objectives and are expected to bolster confidence ahead of these technical studies.

The broader project portfolio includes other uranium assets in Wyoming’s Great Divide Basin and Utah’s Henry Mountains, but Lo Herma remains the flagship, supported by extensive drilling and hydrogeological work. The upcoming regional aquifer pump test program and further technical studies will provide additional data to refine project economics and feasibility.