Business
Uranium Energy Corp Completes Initial 40 Development Holes at First Production Area of its Burke Hollow ISR Project in South Texas
Highlights: Burke Hollow's initial Production Area ("PAA-1") is the newest and largest In-Situ Recovery ("ISR") wellfield being developed in the U.S.; Strong re
About this update from Uranium Energy Corp.
[{"type":"text","content":" Highlights: Burke Hollow's initial Production Area (\"PAA-1\") is the newest and largest In-Situ Recovery (\"ISR\") wellfield being developed in the U.S.; Strong results demonstrate potential for further resource* growth within PAA-1 with several drill intercepts returning 2.45 to 4.48 grade thickness (\"GT\"). This is significantly above the 0.3 GT cut-off for ISR resource estimation and wellfield development; UEC's South Texas hub-and-spoke strategy is anchored by its fully licensed Hobson Processing Plant and includes five ISR Projects, including its fully permitted Palangana, Goliad and Burke Hollow projects; and To learn more about the environmental, social and low-cost advantages of uranium In-Situ Recovery, visit https://www.uraniumenergy.com/projects/isr/. CORPUS CHRISTI, Texas, April 14, 2021 /CNW/ - Uranium Energy Corp (NYSE American: UEC) (\"UEC\" or the \"Company\") is pleased to provide an interim report on its ongoing wellfield development and resource delineation drilling at the Company's Burke Hollow ISR uranium project in South Texas. As of April 9, 2021, a total of 40 resource delineation holes have been completed by utilizing two drilling rigs. Drilling will continue with additional resource delineation test holes, followed by installation of approximately 45 additional exterior monitoring wells to accommodate the trend extensions, complementing the 76 monitor wells previously installed. Andy Kurrus, VP of Resource Development stated, \"We are pleased with the drilling results to date which continue to improve our understanding of the five Goliad Formation roll fronts or trends within PAA-1. The continuity of the uranium roll fronts, and the exceptional uranium grade intercepts are impressive. The development of Burke Hollow, the only recent uranium discovery in the United States, continues to exhibit the potential to be the largest Goliad Formation deposit ever discovered in the South Texas Uranium Trend. As we plan for additional Production Areas at Burke Hollow, we have a strong pipeline to our ~19,000 acre property, including defined resources outside of PAA-1 and several exploration targets and anomalous areas that have only been lightly explored.\" The drilling has targeted trend extensions of the five known fronts within the PAA-1 area. Drill holes, logged by prompt fission neutron...