What's Happening?
American Uranium has commenced a phase one drilling program at its Lo Herma In-Situ Recovery (ISR) Project in Wyoming, USA. The program aims to expand the project's resource base, with the first phase involving 50 drill holes. This initiative is part
of a broader strategy to enhance the project's resource potential and advance it towards production.
Why It's Important?
The expansion of the Lo Herma Project is crucial for American Uranium as it seeks to increase its resource base and strengthen its position in the uranium market. This project is one of the few new near-term, low-cost ISR projects in the US, which could play a significant role in meeting future uranium demand. Successful expansion could lead to increased investor confidence and potential economic benefits for the region.
What's Next?
The drilling program will proceed in two phases, with the second phase scheduled to begin in early 2026. This phase will focus on increasing the proportion of indicated or measured resources within the mine units. The results of the drilling program are expected to contribute to a resource upgrade and an updated Scoping Study in 2026, which will further define the project's economic potential.
