Business
Uranium Energy Files SK-1300 Technical Report Summary Disclosing Resources for Its Yuty Project in Paraguay
Total Disclosed Indicated Resource for Yuty is 8,962,000 lbs with 9,074,000 tons grading 0.049% U3O8 Total Disclosed Inferred Resource for Yuty is 2,203,000 lbs
About this update from Uranium Energy Corp.
[{"type":"text","content":" Total Disclosed Indicated Resource for Yuty is 8,962,000 lbs with 9,074,000 tons grading 0.049% U3O8 Total Disclosed Inferred Resource for Yuty is 2,203,000 lbs with 2,733,000 tons grading 0.040% U3O8 CORPUS CHRISTI, Texas, July 20, 2022 /CNW/ - Uranium Energy Corp (NYSE American: UEC); (\"UEC\" or the \"Company\") is pleased to announce that it has filed a Technical Report Summary (\"TRS\") on EDGAR, disclosing mineral resources for the Company's Yuty Project in Paraguay (the \"Project\"). These mineral resources are based on 543 drill holes. Background: As a U.S. domestic and domiciled company, UEC is now reporting all mineral resources in accordance with Item 1302 of Regulation S-K (\"S-K 1300\"); S-K 1300 was adopted by the SEC to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements more closely for mineral properties with current industry and global regulatory standards; The mineral resource estimates set forth in this TRS have not previously been reported under the S-K 1300 format; and The Yuty project geology is considered amenable to low-cost, environmentally friendly In-Situ Recovery (\"ISR\") mining methods. The TRS was prepared under S-K 1300 and was filed on July 19, 2022, with the SEC through EDGAR on Form 8-K and is also available on SEDAR as a \"Material Document\" filed on July 19, 2022. The TRS was prepared on behalf of the Company by Douglas L. Beahm, P.E., P.G., Principal Engineer of BRS Engineering, by Clyde L. Yancey, P.G., Vice President of Exploration of UEC, and by Victor Fernandez-Crosa, Paraguay Country Manager for UEC. Clyde Yancey, Vice President of Exploration, stated: \"We are very pleased with the update and conversion of our Yuty Project NI 43-101 resources into new SEC S-K 1300 resources. The roll front geology apparent in the Yuty Project is very similar to our South Texas and Wyoming projects and offers excellent low-cost, environmentally friendly ISR mining capability. While our near-term priorities remain focused on Texas and Wyoming ISR production platforms, Yuty presents attractive long-term value and potential which is a great fit for our technical capabilities. As the world pushes for clean, safe, reliable energy, more uranium will be needed to fuel its growth and we are confident the Yuty Project will be part of t...