Premier American Uranium Inc. (TSXV: PUR) has concluded its 2026 drilling program at the Cebolleta Uranium Project in New Mexico, completing 6,030 feet of PQ-diameter core drilling. The company has delivered 77 mineralized core samples, totaling 2,124 pounds, to Hazen Research in Golden, Colorado, to refine metallurgical recovery assumptions for a planned 2027 update to its Preliminary Economic Assessment (PEA).
Drilling Results and Sample Collection
The 2026 program targeted mineralized zones consistent with the underground mining portion of the project’s current Mineral Resource Estimate (MRE), as defined in the 2025 PEA. According to the company’s July 2026 disclosure, crews completed 18 vertical drill holes across four sites. The program achieved a high recovery rate within mineralized zones, yielding more material than the initial 800-kilogram target.
Gamma-ray logging conducted on-site confirmed that the new findings align with historical data and the company’s 2023 confirmation drilling. These results are being integrated into the project’s database to support the updated MRE scheduled for 2027.
Metallurgical Testing and Economic Goals
Hazen Research is currently conducting a comprehensive testing suite, including mineralogical characterization, bottle-roll tests, and long-term column leach tests. These procedures aim to optimize uranium recovery rates for heap leaching.
The economic stakes for these optimizations are significant. Premier American Uranium CEO Colin Healey stated that the 2025 PEA indicates a potential increase in the project’s after-tax net present value (NPV)—rising from $84 million to $159 million—if metallurgical recovery rates can be improved. The ongoing lab work at Hazen Research is designed to determine if these recovery targets are technically achievable.
Technical Oversight and Compliance
The exploration and metallurgical programs are overseen by qualified persons under National Instrument 43-101 (NI 43-101) standards. Mike Thompson, C.P.G., serves as the project lead for the 2026 drilling activities. Metallurgical testing is directed by Dr. Terence McNulty, P.E., of T.P. McNulty and Associates.
The 2025 PEA, which serves as the current technical baseline, was prepared by the SLR International Corporation. The company notes that the PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative for the application of economic considerations that would enable them to be categorized as mineral reserves.
Project Context
The Cebolleta project is a former mining site located in New Mexico.
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