IsoEnergy Initiates Bulk Sample Program at the Tony M Uranium Mine in Utah, a Key Step Toward a Potential Restart Decision
IsoEnergy shifts from explorer to operator with Tony M bulk sample as production restart looms.
On January 7, 2026, IsoEnergy announced the initiation of a bulk sample program at its 100%-owned Tony M uranium mine in Utah. The program involves the extraction of up to 2,000 tons of mineralized material over a 12-to-14-week period, which began in late December 2025. Contract mining is being handled by GenX Mining Contractors, LLC. The extracted material will be processed at Energy Fuels Inc.’s White Mesa Mill under an existing toll milling agreement. The primary objective is to collect technical, operational, and economic data—including validation of mining methods and testing of underground systems—to support a formal production restart decision.
This news is a material positive for IsoEnergy as it marks the transition from care-and-maintenance to active operational testing. - De-risking the Restart: By moving 2,000 tons of material, the company is moving beyond theoretical studies (like the High-Pressure Slurry Ablation and ore-sorting tests conducted in 2025) into practical application. This validates the mine's infrastructure and the toll-milling logistics. - Operational Confirmation: The program fulfills a timeline management previously signaled in May 2025, suggesting disciplined execution of the corporate strategy. - Financial Implications: While the bulk sample involves costs, the use of a toll milling agreement avoids the massive CAPEX associated with building a new mill. The reduction of the SITLA lease royalty from 8% to 3% in 2025 further improves the projected margins for a restart. - Strategic Positioning: As a "restart-ready" mine, Tony M positions IsoEnergy to capitalize on the "domestic supply" narrative in the U.S. uranium market faster than greenfield competitors.
IsoEnergy is a uranium-focused company with assets in Canada, the USA, and Australia. - Flagship (Exploration): The Larocque East project in the Athabasca Basin, hosting the ultra-high-grade Hurricane deposit (Indicated: 48.6 Mlbs U3O8 at 34.5% grade). - Flagship (Near-Term Production): The Tony M mine in Utah, a fully permitted, past-producing underground mine with 6.6 Mlbs of Indicated U3O8. - Strategic Assets: Coles Hill (Virginia) and the recently acquired Wiluna Project (Western Australia).