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American Future Fuel Corporation has reported encouraging early results from its Phase 1 drilling program at the Cebolleta Uranium Project in Cibola County, New Mexico, with findings exceeding historical grades and indicating substantial uranium deposits. These advancements signify a potential resurgence in uranium mining in the region, aligning with global trends towards nuclear energy as a clean power source. File Photo
SEBOYETA, N.M. — American Future Fuel Corporation, a Canadian resource company, has made significant strides in its Cebolleta Uranium Project in Cibola County, New Mexico, with early drilling results revealing promising signs of substantial uranium deposits. This development is part of a resurgence in uranium mining in the region, decades after the industry saw a decline.
American Future Fuel announced that the initial results from its Phase 1 drilling program at the project site, located in the Grants Uranium Mineral Belt, closely align with historical data, underscoring the potential for substantial uranium yield. The Grants Mineral Belt is known for having produced approximately 37 percent of all uranium in the United States.
David Suda, CEO of American Future Fuel, expressed optimism about the project's prospects, noting, 'The results from our first confirmation twin drill hole exceeded the historical grade. This is highly encouraging as it brings us closer to proving the historical resource of 18.98 million pounds. We are excited to be advancing the Cebolleta Project as uranium enters a long-awaited bull run.'
The Cebolleta Project, an advanced exploration venture, boasts a historical uranium Inferred Mineral Resource estimate of 5.6 million tons at an average grade of 0.17 percent eU3O8, containing approximately 18.98 million pounds of U3O8, according to a 2014 NI 43-101 Technical Report. However, this historical estimate is not currently treated as a current Mineral Resource, pending further validation.
American Future Fuel Corporation's strategic focus on the Cebolleta Project reflects a broader industry trend of revitalizing uranium mining for nuclear energy, seen as a clean energy alternative amid growing concerns over fossil fuels and climate change. The project's advancement comes as nuclear energy gains renewed interest globally, with countries like Japan restarting nuclear reactors to address energy needs and reduce carbon emissions.
The company's drilling program is part of a comprehensive threephase confirmation effort aimed at validating multiple generations of historical data. The successful initial drilling results provide a solid foundation for the project's future development and highlight the potential for significant uranium production in New Mexico once again.
American Future Fuel Corporation's promising start in the Cebolleta Uranium Project marks a significant step towards reviving uranium mining in New Mexico, offering a glimpse into the potential resurgence of a vital energy resource. With early drilling results already surpassing historical data, the project underscores the growing momentum behind nuclear energy as a sustainable alternative, setting the stage for a new era of uranium production that could have far-reaching implications for the energy sector and the local economy in Cibola County