Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, is advancing the development of its Burke Hollow and Palangana in-situ recovery (“ISR”) projects. Based in south Texas, the projects are slated for further near-term development in preparation for uranium extraction, including moving forward with exploration and delineation activities. According to the announcement, the Burke Hollow project’s Production Area-2 (“PA-2”) has been established within the northern half of the project and hosts three major subroll units of uranium mineralization. That mineralization ranges from 160 to 210 feet in depth and occurs within the Goliad Formation Lower A sand. The company noted that, to date, 533 exploration and delineation holes totaling 232,655 feet have been drilled within the project’s PA-2 area and delineation drilling campaign is continuing with five contract drilling rigs. UCE plans to start external and internal monitor well installation after delineation drilling is complete.
The company also anticipates updating an SK-1300 technical report summary for Burke Hollow before the end of 2023 to include the drilling results. In addition, the company reported that a total of 30 development and delineation holes were recently completed within the fully permitted Production Area 4 (“PA-4”) of its Palangana ISR project. “This is an important achievement in our continuing program to advance the Burke Hollow project towards uranium extraction,” said Uranium Energy VP of resource development Andy in the press release. “This ISR project is the largest Goliad Formation deposit ever discovered in the south Texas Uranium Trend and the largest discovery made in the last decade within the United States. We are pleased to have defined Production Area 2 and are looking forward to the continuation of the project’s advancement as we prepare for the next phase of uranium extraction. The company will continue with delineation drilling at PA-2 with five drilling rigs, followed by the final design and installation of the PA-2 monitoring ring.”
To view the full press release, visit https://ibn.fm/26trf
About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of the fuel for green-energy transition to a low-carbon future. UEC is the largest, diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly, in-situ recovery (“ISR”) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American-warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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