VANCOUVER, British Columbia, Sept. 22, 2023 (GLOBE NEWSWIRE) — American Future Fuel Corporation (CSE: AMPS; OTCQB: AFFCF; FWB: K14, WKN: A3DQFB) (the “Company” or “American Future Fuel”), is pleased to announce radiometric assay results from the first completed confirmation drill hole at the Cebolleta Uranium Project (“Cebolleta” or the “Project”) located in the Grants Uranium Mineral Belt.
The results are very encouraging as the radiometric equivalent U308 grade (% e U3O8) values for this first confirmation (twin) hole closely match historical data from near the same location (see tables directly below).
Century Wireline Services completed the downhole radiometric survey (i.e. natural gamma log) of the Company’s completed borehole and reported the following results:
| Top Depth | Thickness | Grade (% eU3O8) |
| 231.0 ft (70.4m) | 19.0 ft (5.8m) | 0.15% |
| *including | 2.0 ft (0.6m) | 0.52% |
| 252.5 ft (77.0m) | 9.0 ft (2.7m) | 0.09% |
In October 1969, Sohio Western Mining completed the original drill hole (RLB-83) at this location and reported the following radiometric assay results:
| Top Depth | Thickness | Grade (% eU3O8) |
| 230.5 ft (70.3m) | 15.5 ft (4.7m) | 0.15% |
| 251.5 ft (76.7m) | 10.0 ft (3.0m) | 0.06% |
This hole is the first of 21 planned drill holes comprising Phase 1 of a three-phase confirmation drilling program designed to test multiple generations of historical data in support of a NI 43-101 compliant Mineral Resource Estimate calculation at Cebolleta.
As part of the confirmation program, the Company is also evaluating the radiometric equilibrium of uranium mineralization using chemical assays of core samples to compare with radiometric results. Sohio completed extensive equilibrium studies at the Project and determined there was a consistent trend of chemical assays exceeding radiometric assays1.
David Suda, CEO of the Company, stated, “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.”
Cebolleta is an advanced uranium exploration project with a historical uranium Inferred Mineral Resource of 5.6M tons (5.1M tonnes) at an average grade of 0.17% eU3O8 containing 18.98M lbs (8,600 tonnes) U3O8 according to a 2014 NI 43-101 Technical Report commissioned by previous owner, Uranium Resources, Inc.2…
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