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American Uranium Limited (ASX:AMU)

ALERT: Price-sensitive ASX Announcement for AMU
Current share price for AMU : $0.075 -0.017 (-18.48%)+
Announcement
Release
26 May 2026 8:35AM
Price at Release
$0.092
Full Release
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Summary
American Uranium Limited (AMU) has reported strong early infill drilling results at its Lo Herma ISR uranium project, indicating good continuity of uranium mineralisation within Mine Unit 1. The results come as part of an ongoing drilling program aimed at converting Inferred resources to Indicated resources, with 11 out of 18 holes intersecting mineralisation above the cut-off grade. The drilling program has so far completed 3,243 meters, and further drilling aims to support a resource upgrade and a Scoping Study expected in Q3 2026. The project is progressing towards ISR mine development, with a focus on enhancing resource confidence and expanding the resource base. The continuity of roll-front mineralisation is expected to bolster confidence in the project's development potential as the uranium market strengthens and U.S. policy shifts towards supporting nuclear fuel security.
Key Points
  • Strong continuity of uranium mineralisation confirmed within Mine Unit 1.
  • 11 of 18 holes showed mineralisation above cut-off grade.
  • High-grade uranium intercepts reported, including 1.06 GT over 5.8m.
  • Program is one-third complete with 3,243 meters drilled.
  • Resource conversion from Inferred to Indicated expected.
  • Q3 2026 target for updated Mineral Resource Estimate and Scoping Study.
  • Project supports U.S. nuclear fuel security policies.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.