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Premier American Uranium Shifts to Growth Ahead of Schedule at Cebolleta in New Mexico, US
TORONTO, July 05, 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, July 05, 2024 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR”, the “Company” or “Premier American Uranium”) (TSXV: PUR) (OTCQB: PAUIF) is pleased to announce a shift from resource confirmation to focus primarily on growth and resource expansion following the recent set of milestones achieved by the Company including the NI 43-101 compliant mineral resource estimate (“MRE”) for the Cebolleta Project in New Mexico (see press release dated June 24, 2024), 12 months ahead of schedule. The Cebolleta Project holds potential for significant resource expansion, including at the Willie P target, which was not included in the MRE, the underexplored extension of mineralization remaining open along trend, and several other untested areas. The Westwater Canyon Member, the principal host rock for several large historic uranium mines in the Grants Mineral Belt, which contains over 400 million pounds of uranium1, remains largely unexplored on the Cebolleta property, where the current mineral resources are hosted within the shallower Jackpile sandstone. With several untested and underexplored targets at Cebolleta providing a clear path for resource growth, we are excited to initiate next steps well ahead of timelines previously expected by the market. Our technical team is currently assessing future work programs and permitting requirements with a focus on leveraging the momentum gained towards adding pounds in the prolific Grants Mineral Belt district. With +347 million pounds of uranium produced, (37% of all U.S. historical production) the Grants district is 4th largest uranium district in the world.1 The Company will focus on adding pounds near to the past producing Jackpile and Paguate mine complex with historical production of 100 million pounds of uranium, see Figure 1.2 _____________________________ 1 Uranium resources in the Grants uranium district, New Mexico: An update Virginia T. McLemore, Brad Hill, Niranjan Khalsa, and Susan A. Lucas Kamat 20132 The Jackpile-Paguate Uranium Mine, Grants Uranium District: Changes in perspectives from production to superfund site Virginia T. McLemore, Bonnie A. Frey, Ellane El Hayek, Eshani Hettiarachchi, Reid Brown, Olivia Chavez, Shaylene Paul, and Milton Das Figure 1: Plan View Map of the Cebolleta Uranium Project and Uranium Deposits Colin Healey, CEO of PUR shares the following...