08:44 AM EDT, 10/15/2024 (MT Newswires) -- Premier American Uranium ( PAUIF ) said Tuesday that it completed an inaugural drill program at the Cyclone ISR uranium project in Wyoming.

The company said it completed 41 holes spanning 20,990 feet in 2024, exceeding the planned 37-hole program.

Premier American said results indicate the presence of uranium mineralization along a 0.5-mile long, east-west trend that has not yet been fully defined. This zone appears to be open in multiple directions, with drill intercepts up to 0.088% uranium equivalent over a thickness of 10.5 feet.

"Since our August exploration update, we have further confirmed the presence of uranium mineralization of significant grade and thickness in the Cyclone Rim area, which is highly encouraging," CEO Colin Healey said.

The company said it also commenced drilling in the Osborne Draw area, with multiple mineralized zones encountered in three of the five holes.

"We believe our systematic exploration approach positions us for further success in 2025 where we look forward to further testing the potential of the Osborne Draw Target," Healey said.

The company's share price fell 3.4% last Friday to $1.98 on the TSXV.