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American Uranium Limited (ASX: AMU,OTC:AMUIF, OTCQB: AMUIF) announced that resource drilling at its Lo Herma ISR uranium project in Wyoming, is now completed with the final 32 mud rotary drill holes for approximately 12,757 meters (41,855 feet) across a total of 50 drill holes. The program was designed to convert Inferred resources to Indicated classification within proposed Mine Unit 1 and to expand resources south of proposed Mine Unit 2.
"This drilling builds on the successful 66-hole campaign and interim resource of 9.45Mlb U3O8 we reported in March," said Bruce Lane, CEO of American Uranium. He added that the drilling results have achieved the key objectives of the program. Additional details are here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03109814-6A1333300&v=undefined.
Lane noted that the results are expected to support the company's upcoming Mineral Resource Estimate update and continued advancement of Lo Herma toward ISR development. "This program, which commenced in early May of this year, was focused on increasing resource confidence within Mine Unit 1 through infill drilling while expanding the resource base in Mind Unit 2 through step-out drilling along interpreted redox trends," he explained. In addition, the company believes the results of this program are expected to increase resource confidence in Lo Herma's Mineral Resource Estimate and the robustness of the planned Q3 Scoping Study.
The Lo Herma ISR uranium project is the company's flagship asset, located in Wyoming's Powder River Basin. On a contained-resource and development-readiness basis, the Project is increasingly comparable to ISR satellite projects in the area such as Ur-Energy's Shirley Basin and Uranium Energy Corp's Luderman, which have been advanced within hub-and-spoke ISR frameworks. The company also holds additional highly prospective ISR assets in Wyoming's Great Divide Basin and brownfields conventional uranium/vanadium assets in Utah's Henry Mountains.
View original content:https://www.prnewswire.com/news-releases/american-uranium-reports-completed-drilling-strengthens-lo-herma-uranium-resource-upgrade-for-upcoming-scoping-study-302823387.html
SOURCE American Uranium Ltd.
