North Shore Uranium has achieved a clean sweep: significant uranium mineralization confirmed in every one of the 13 rotary drill holes completed during the Phase 1 campaign at the Rio Puerco project, in the Grants Uranium District of northwestern New Mexico. The results, announced on September 3, 2026, mark the return of the drill bit to this area for the first time in more than fifty years — the last meaningful drilling campaign dates back to the 1970s.
The program totaled 9,274 feet (2,828 meters). Mineralization was intercepted in every hole using a cutoff of 0.02% eU₃O₈ and a minimum grade-thickness ratio of 0.30. The standout intercepts include a 27.0-foot interval grading 0.30% eU₃O₈ in hole RP-26-18-39 and a 12.5-foot interval at 0.33% eU₃O₈ in hole RP-26-18-640. Additional holes returned intercepts ranging from 7.0 to 23.5 feet at grades between 0.07% and 0.17% eU₃O₈. The mineralization was identified within sandstone units that host 95% of the eU₃O₈ contained in the Rio Puerco historical resource. All 21 intercepts were found below the water table — a favorable characteristic when assessing the potential applicability of in-situ recovery (ISR) extraction, a less invasive method compared to conventional mining techniques.
The Rio Puerco project sits at the eastern end of the Grants Uranium District, the largest historical uranium-producing region in the United States. Mines that operated in the area between 1950 and 2002 produced more than 340 million pounds of U₃O₈. The primary objective of Phase 1 was to validate historical exploration data collected by Kerr-McGee, the company that previously drilled over 1,100 holes across the property. The non-compliant historical resource estimate stands at approximately 11.4 million pounds of U₃O₈. The newly released results represent the first step toward an updated geological model and, potentially, a resource estimate compliant with NI 43-101 standards.
Brooke Clements, President and CEO of North Shore, highlighted the consistency of the results — particularly the combination of grade and thickness across the intercepts — as reinforcing the outlook for ISR extraction. This technique involves injecting solutions into the aquifer to dissolve and recover uranium without surface excavation, and is currently regarded as one of the most efficient methods for deposits of this type. The fact that all intercepts lie below the water table is a concrete factor supporting that assessment.
Phase 2 is already planned for Q4 2026, once the summer monsoon season wraps up. North Shore holds all necessary permits to drill up to 26 additional holes, covering approximately 5,975 meters in total. Phase 1 results will guide target selection for the follow-up program. Should Phase 2 confirm and expand upon what has been found so far, the company will be positioned to advance toward an updated resource estimate — an essential milestone in transforming Rio Puerco from an exploration-stage asset into a genuine development prospect, against a backdrop of growing global uranium demand.
