Premier American Uranium Inc. and American Future Fuel Corporation have announced a new mineral resource estimate for the Cebolleta Uranium Project in New Mexico. The Technical Report, prepared by SLR International Corporation, indicates a significant mineral resource potential with an indicated resource totaling 18.6 million pounds of eU3O8 and an inferred resource totaling 4.9 million pounds of eU3O8. This represents an upgrade of approximately 80% of the previous inferred resource to the indicated category.
The project has a rich history of uranium exploration and production, with past mines like Climax M6 and St. Anthony contributing to the region’s mineral resources. The current MRE exceeds historical estimates and suggests strong exploration potential for further resource expansion through extension and expansion drilling.
Colin Healey, CEO of PUR, expressed excitement over the updated Technical Report, highlighting the significant milestone achieved with the current MRE. The company is now focused on advancing the project towards a Preliminary Economic Assessment (PEA) following the recommendations outlined in the report.
The Cebolleta Uranium Project is located in a strategic region with favorable infrastructure and historical mining activity. The deposits within the project area are sandstone-hosted uranium deposits, offering further potential for mineralization beyond the current drill grid.
With strong financial backing and a dedicated team, both PUR and AMPS are optimistic about the future of the Cebolleta Uranium Project. The filing of the Technical Report marks a crucial step in advancing the project towards production and unlocking its full resource potential.
