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American Uranium Limited (ASX:AMU)

ALERT: Price-sensitive ASX Announcement for AMU
Current share price for AMU : $0.076 0.004 (5.56%)+
Announcement
Release
10 Jul 2026 8:23AM
Price at Release
$0.072
Full Release
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Summary
American Uranium Limited has successfully completed a comprehensive drilling program at its Lo Herma ISR uranium project in Wyoming, designed to strengthen resource confidence and prepare for a Q3 2026 Scoping Study. The drilling included 50 holes totaling approximately 12,757 meters, aimed at converting Inferred resources to Indicated classification and expanding resources in two proposed mine units. This initiative confirmed mineralization continuity within Mine Unit 1 and extended mineralized trends south of Mine Unit 2. With 21 of the 50 holes intersecting mineralization above the grade cut-off and 13 exceeding target grade thickness, the results are expected to support the upcoming Mineral Resource Estimate update and further development towards ISR mine operation. These efforts align with AMU's strategy to advance the Lo Herma project as a significant uranium resource in the Powder River Basin, leveraging extensive historical data and current drilling to bolster the project's potential.
Key Points
  • Completion of drilling program at Lo Herma ISR project
  • 50 drill holes totaling ~12,757 meters completed
  • Conversion of Inferred resources to Indicated classification
  • Expansion of resources in two mine units
  • 21 holes intersected mineralization above cut-off
  • 13 holes exceeded target grade thickness
  • Support for upcoming Mineral Resource Estimate update
  • Preparation for Q3 2026 Scoping Study
  • Advancement towards ISR mine development
  • Leverage of historical and current drilling data
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.