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American Future Fuel Corporation (CSE: AMPS; OTCQB: AFFCF; FWB: K14, WKN: A3DQFB) is a Canadian-based resource company committed to the acquisition, exploration, and development of alternative energy projects. The company's flagship asset is the Cebolleta Uranium Project, located in Cibola County, New Mexico, USA, within the Grants Uranium Mineral Belt—an area historically responsible for 37% of all uranium produced in the United States.
The Cebolleta Project is an advanced uranium exploration venture, comprising 6,700 acres of mineral rights and 5,700 acres of surface rights. It hosts several known uranium deposits, including historical mines such as the JJ#1 and St. Anthony Mines. This project aims to validate and update historical resource estimates, with 5.6 million tons of inferred mineral resources at an average grade of 0.17% eU3O8, containing approximately 18.98 million pounds of uranium oxide (U3O8), based on a 2014 NI 43-101 Technical Report.
Recently, American Future Fuel commenced Phase 1 of a three-phase confirmation drilling program designed to establish a current mineral resource estimate. Initial results have been promising, closely matching historical assay data, thereby reinforcing confidence in the project's potential. Future phases of the drilling program, set to continue into 2024, will further explore and expand upon these findings.
In addition to its technical pursuits, American Future Fuel has entered into a definitive agreement with Premier American Uranium Inc., entailing a strategic acquisition that will see AMPS shareholders receive common shares of PUR. This move aims to consolidate valuable uranium assets across key U.S. districts, enhancing market capitalization and liquidity while broadening the shareholder base.
American Future Fuel’s commitment to sustainable energy and strong leadership, spearheaded by CEO David Suda, positions the company as a significant player in the North American uranium market. The company's strategic focus on high-potential projects within politically stable regions underlines its growth-oriented approach and dedication to delivering shareholder value.
Premier American Uranium and American Future Fuel announced an updated Mineral Resource Estimate (MRE) for the Cebolleta Uranium Project.
The MRE, prepared by SLR International , shows: 18.6 million pounds of indicated eU3O8, and 4.9 million pounds of inferred eU3O8. This surpasses the 2014 historical estimate by upgrading 80% of inferred resources to indicated.
Key recommendations include further exploration to expand the deposit footprint, additional bulk density and chemical assays, and a Preliminary Economic Assessment (PEA). The report highlights significant exploration potential in untested areas and de-risking through infill drilling.
The project, located in Cibola County, New Mexico, spans 6,717 acres of mineral rights and 5,700 acres of surface rights. It benefits from a rich history of uranium exploration and mining from the 1950s to 2014.
The full Technical Report is available on SEDAR+ under the profiles of both companies.
American Future Fuel Corporation (CSE: AMPS, OTCQB: AFFCF) announced the appointment of Mr. David Suda as Chief Executive Officer and Director, effective April 21, 2023. Mr. Suda, with 15 years of capital markets experience, has successfully raised over $10 billion for various companies. He expressed enthusiasm for leading the company, which focuses on the Cebolleta Uranium Project located in New Mexico's Grants Mineral Belt, known for contributing around 37% of the U.S.'s uranium production. The project has a strong history of uranium production and potential for expansion due to numerous unexplored historical drill holes. Former CEO Mr. Luke Montaine will step down on the same date, with the board acknowledging his contributions.
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