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Premier American Uranium Announces Preliminary Results from Ongoing Drilling at the Cyclone ISR Project, Wyoming
TORONTO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR”, the “Company” or “Premier American Uranium”) (TSXV: PUR) (OTCQB: PAUIF) is plea
About this update from Premier American Uranium Inc
[{"type":"text","content":" TORONTO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR”, the “Company” or “Premier American Uranium”) (TSXV: PUR) (OTCQB: PAUIF) is pleased to announce positive preliminary drill results and provide an update on the ongoing exploration drill program at the Cyclone Rim Target, part of its 100%-owned Cyclone ISR Uranium Project (“Cyclone” or the “Project”) in the Great Divide Basin, Wyoming, in close proximity to existing producing wellfields and processing facilities (Figure 1). Initial results include multiple drill holes that intersected mineralized intervals that are consistent with grades and thicknesses included in the 2023 NI 43-101 Technical Report (“Technical Report”) which outlined a resource exploration target of 7.9 million pounds to 12.6 million pounds of eU3O8 with an average grade of 0.06% eU3O81. Highlights At the Cyclone Rim Target, 19-holes (9,125 ft) of the planned 37 holes (~17,500 ft) have been completed, with drilling progressing well (Figure 2). Early drilling is consistent with the resource exploration target, with significant intercepts of mineralization including: 6.5 ft grading 0.066% eU3O8 (GT of 0.43) in Hole CR24-033 (from 253.5 ft down hole) 8.5 ft grading 0.028% eU3O8 (GT of 0.24) in Hole CR24-036 (from 196.5 ft down hole) 6.0 ft grading 0.033% eU3O8 (GT of 0.20) In Hole CR24-037 (from 248.5 ft down hole) The highlighted drill holes are located from 10 to 75 feet from historic drill hole collars and confirm the presence of uranium mineralization at depths and locations consistent with those suggested by the limited historic drilling conducted in 2007-2008 by a prior operator at the Cyclone Rim Target. See Table 1 for full results. The drilling program at the Cyclone Rim Target remains on track for completion in late fall. Drilling at the Project is expected to reconvene next summer, moving to the Osborne Draw Target (Figure 3), as part of the planned comprehensive inaugural exploration drill program at Cyclone. To watch a summary of today’s press release by Colin Healey, CEO, click here. Colin Healey, CEO of PUR commented, “The inaugural exploration program at Cyclone is off to a very strong start, achieving multiple critical objectives. First, we have successfully confirmed the presence of uranium mineralization of significant grade proximal to histor...