American Uranium Ltd (ASX: AMU) has updated the mineral resource estimate for its Lo Herma project in Wyoming, reporting a total of 9.96 million pounds (Mlbs) of U₃O₈. This update reflects a 16% increase in total resources compared to the previous estimate of 8.57Mlbs. The company significantly improved the quality of its inventory, with Indicated Resources rising by 72% to 4.79Mlbs.

The resource growth was driven by a 120-hole drilling campaign, which successfully expanded mineralised trends and upgraded classification confidence within the project's proposed development footprint. Resources located within the area intended for the upcoming technical study increased to 7.38Mlbs, with the proportion classified as Indicated rising from 32% to 54%.

"This updated Mineral Resource Estimate marks an important milestone for Lo Herma and reinforces its position as a significant emerging ISR uranium development project in Wyoming's Powder River Basin. With total Resources now approaching 10Mlbs U₃O₈, and a substantial increase in confidence delivered within the proposed development footprint, the Project is increasingly demonstrating the scale and quality required to support future development studies."

"Importantly, the updated resource provides a stronger foundation for the Scoping Study targeted for early Q4 2026 and supports AMU's progression from resource delineation toward project development studies, permitting pathways and further evaluation of potential ISR development scenarios."

— Bruce Lane, CEO

Read the full announcement: Lo Herma Resource Reaches 9.96Mlbs as Indicated Grows 72%