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Peninsula boosts contained uranium at Wyoming Lance project

The Lance resource now totals 59 million lb. of contained U3O8, with the Ross area adding almost 16% to 7.4 million lb.

Reported · Written up by our desk · Mining

Mining.com reports that an update for Peninsula Energy’s Lance uranium project in Wyoming lifted contained uranium to 59 million lb., strengthening the project’s position as the largest single nuclear metal development in the United States by publicly disclosed, compliant resources.

The update shows Lance now includes 15.5 million measured and indicated tonnes grading 0.05% uranium oxide (U3O8), for 16.2 million lb. contained U3O8, plus 38.5 million inferred tonnes at 0.04% U3O8, for 41.7 million lb. contained U3O8.

The Ross area within Lance gained almost 16% to 7.4 million lb. of contained U3O8, while targets at Kendrick and Barber are not yet producing. The outlet also noted Lance’s total resource rose 1.7% versus 2023.

Shares in Peninsula Energy fell almost 2% to A$25.5 cents in Sydney on Friday, then gained almost 2% to A$26 cents on Monday, valuing the company at A$145.7 million (C$145 million).

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