Crook County – Peninsula Energy/Strata – Lance Uranium ISR Project
Peninsula’s flagship Lance Project is one of the largest US uranium projects in size and scale and boasts a defined JORC (2012) Resource of 58.0 million pounds (Mlbs)¹ U3O8.
Lance is a modern, large-scale, long-life project, located in Wyoming, USA, a premier uranium and mining jurisdiction.
Importantly, Lance is coming online during a period where the importance of nuclear as a critical element of the clean energy mix to meet aggressive decarbonisation targets continues to grow. Peninsula will be in a strong position to supply this market and as a key competitive advantage, be the only ASX-listed uranium company providing US production and direct market exposure. Read more here.
Strata Energy, Inc. is a U.S. uranium development company currently working to permit an in-situ recovery/in-situ leach uranium production facility near Oshoto, Wyoming [Crook County]. Strata is a wholly-owned subsidiary of Peninsula Energy Limited, an Australian-based emerging uranium producer.
The Lance Projects are located on the North-East flank of the Powder River Basin in Wyoming, USA. The original NuBeth Joint Venture between Nuclear Dynamics Inc, Bethlehem Steel Corporation and later Pacific Power and Hydro (NuBeth JV), discovered thirteen substantial zones of uranium mineralization associated with an extensive system of roll fronts confirmed by drilling between 1970 and 1979. As part of this exploration program, the NuBeth JV drilled more than 5,000 exploration and development holes, totaling in excess of 997,375 yards (912,000 meters). A proprietary database of the historic drilling and pilot plant data was acquired by Peninsula in 2007, defining a then relatively unknown uranium district of which Peninsula is now the dominant mineral rights holder.
The Company has explored only part of this area since 2007 and has already delineated over 53.7mlbs of U3O8 JORC Code (2012) compliant resource.
The Lance Projects have 190 line miles (305 kilometers) of identified roll fronts and an exploration target of 104-163mlbs U3O8, which is in addition to the JORC Code (2012) compliant resource. These roll fronts stretch over 31 miles (50 kilometers) north-south and are open to the north, south and west.
Unlike most in-situ recovery (ISR) projects, Peninsula’s mineral resources are located on contiguous landholdings that we control. This allows Peninsula to develop the Lance Projects in a cost-effective manner, without having to incur infrastructure and facility development costs that would otherwise be required if our landholdings were not contiguous.
Dec 29, 2025
Peninsula Energy’s Lance Uranium Project: Wyoming ISR Mining Revolution, Discovery Alert
The uranium mining industry stands at a technological crossroads, where traditional excavation methods give way to sophisticated chemical extraction processes. In-situ recovery (ISR) technology represents one of the most significant advances in uranium extraction, utilising controlled chemical reactions to mobilise uranium deposits without conventional mining infrastructure. Furthermore, this methodology has become particularly relevant for roll-front uranium deposits found in sedimentary formations across Wyoming’s Powder River Basin, especially as the industry faces uranium market volatility and increasing regulatory pressures.
ISR operations involve injecting carefully formulated solutions through strategically positioned well networks to dissolve uranium minerals directly within their geological formations. The dissolved uranium-bearing solution is then pumped to surface processing facilities where the uranium is extracted, concentrated, and processed into yellowcake powder for nuclear fuel applications.
How Peninsula Energy’s Lance Project Demonstrates Advanced ISR Implementation
Peninsula Energy’s Peninsula Energy Lance uranium project showcases the practical application of low-pH ISR technology across a substantial Wyoming uranium deposit. Located within the Powder River Basin, the Lance project encompasses 38,416 acres with a JORC-compliant resource base totalling 58 million pounds U₃O₈ distributed across multiple mining zones.
The project’s technical specifications reflect years of optimisation and engineering refinement. Moreover, current wellfield design incorporates 60-foot spacing between production and injection wells, with each header house consisting of approximately 30 production wells. This configuration targets 80% recovery efficiency of recoverable uranium within each header house pattern over a 13-14 month extraction cycle.
Governor Gordon and U.S. Senator Barrasso visit Lance ISR Uranium Project
(Screen grab from video below)
Also see:
Wyoming State Geological Survey – Uranium Mines
Video – RedChip Highlights Myriad Uranium Corp., Nov 29, 2025
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