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Premier American Uranium Secures Part Three Drilling Permit for the Cebolleta Project, New Mexico
TORONTO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR”, the “Company” or “Premier”) (TSXV: PUR) (OTCQB: PAUIF) is pleased to announce t
About this update from Premier American Uranium Inc
[{"type":"text","content":" TORONTO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR”, the “Company” or “Premier”) (TSXV: PUR) (OTCQB: PAUIF) is pleased to announce the receipt of an additional Part 3 drilling permit (the “Permit”) for its Cebolleta Uranium Project located in Cibola County, New Mexico, US (the “Project”). The Permit was granted by the New Mexico Mining and Minerals Division (“MMD”) for drilling up to 25 boreholes utilizing 25 drill pad surface areas to explore for more uranium on the Project. This new Permit represents a significant milestone in the Project's advancement and development path and demonstrates the strength of PUR’s technical team in managing the permitting process as well as an effective working relationship with regulatory authorities. The Permit application, submitted in March 2024, was designed to facilitate the additional confirmation drilling anticipated to be required to validate historic drilling on the Project for inclusion in an initial Mineral Resource Estimate (“MRE”)*. In June of 2024, PUR completed the MRE ahead of schedule relying on the successful confirmation drilling completed in 2023 and negating the necessity for much of the additional confirmation drilling contemplated in this Permit application. As a result, PUR expects to realize substantial cost savings over its original confirmation drilling budget estimate under this Permit with increased flexibility and discretion on drilling. With the Permit now secured, PUR is contemplating drilling up to five technical confirmation holes in Area 3 (see Figure 1), while examining amending both this new Permit and the pre-existing Part 3 permit issued in 2023 for resource expansion drilling. The PUR technical team completed extensive archeological and biological clearance studies at the Project in fall of last year in support of amending this Permit for expansion drilling and can immediately begin the amendment process. PUR’s goals for 2025 for the Cebolleta Project include: Continuation of ongoing Cultural, Archeological and Biological studies in support of a Part 4 permit application (which allows for more robust and flexible drilling); Conduct drill work under the newly issued Part 3 permit; Update the Cebolleta MRE; and Materially de-risk the Project with completion of a Preliminary Economic Assessment (“PEA”) targeting summer 2025....