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Premier American Uranium Fast-Tracking Cebolleta Project Toward Mineral Resource Update and Preliminary Economic Assessment with SLR Engagement
TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR”, ...
About this update from Premier American Uranium Inc
[{"type":"text","content":"Premier American Uranium Fast-Tracking Cebolleta Project Toward Mineral Resource Update and Preliminary Economic Assessment with SLR Engagement\n\n\n\n TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) --\n \n Premier American Uranium Inc. (“PUR”,\n \n\n the “Company”\n \n\n or “Premier”) (TSXV: PUR) (OTCQB: PAUIF) is\n \n pleased to provide an update on its plan to advance its Cebolleta Uranium Project located in Cibola County, New Mexico, US (the “\n \n Project\n \n ” or “\n \n Cebolleta\n \n ”). PUR has formally engaged SLR International Corporation (“\n \n SLR\n \n ”) to update the Mineral Resource Estimate (“\n \n MRE\n \n ”) for the Project and complete a Preliminary Economic Assessment (“\n \n PEA\n \n ”) in accordance with National Instrument 43-101 –\n \n Standards for Disclosure of Mineral Projects\n \n (“\n \n NI 43-101\n \n ”). Targeting completion of these important milestones in early summer 2025, these initiatives are intended to further derisk the Project on an accelerated timeline, ahead of management’s previously contemplated schedule and at significantly lower cost than previously anticipated, enabling the deferral of more than US$2.0M in anticipated costs.\n \n\n\n Highlights\n \n\n\n\n\n Accelerating Project Advancement with Updated Project-Wide Mineral Resource Model:\n \n The Company is planning to incorporate historical drilling results, geologic information and other mining-related technical data from the former Willie P underground mine (Figure 1), none of which were available for the most recent Project resource model. PUR technical staff have assessed technical data pertaining to the Willie P mineralized zone, which is situated immediately west and southwest of the existing MRE included in the current Technical Report on the Project titled “Technical Report on the Cebolleta Uranium Project, Cibola County, New Mexico, USA” dated June 17, 2024 and with an effective date of April 30, 2024 (the “\n \n Technical Report\n \n ”). This recently reviewed information describes a geologic setting for mineralization that is consistent with information on the Willie P mine as described in a published paper\n \n 1\n \n and is also consistent with information o...