Uranium Energy (NYSE American: UEC) has restarted wellfield development and resource delineation drilling at its in-situ recovery (“ISR”) uranium project in Burke Hollow, Texas. The company intends to be one of the U.S. companies supplying the U.S. Uranium Reserve (“UR”) as outlined in the Nuclear Fuel Working Group report published by the U.S. Department of Energy (“DOE”). UEC’s hub-and-spoke strategy in South Texas is anchored by its five ISR projects in the area. In addition to Burke Hollow, whose initial production area is the newest and largest ISR wellfield being developed in the entire country, the company has fully permitted projects in Palangana and Goliad. The 10-year, $1.5 billion UR program is designed to support and encourage the development of domestic nuclear fuel. The program reflects the government’s desire to restore the domestic nuclear fuel supply chain and reduce overdependency on foreign sources while supporting the generation of significant baseload, carbon-free energy from American nuclear power plants. “We are excited about the potential of this project,” said Uranium Energy VP of resource development Andrew Kurrus in the press release. “Our PAA #1 at Burke Hollow is the only Production Area being developed in the United States. In addition to PAA#1, the extensive, lightly-explored trend extensions and remaining undrilled areas of the project have the potential to be the largest Goliad Formation deposit discovered to date in the South Texas Uranium Belt.”
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About Uranium Energy Corp.
Uranium Energy is a U.S.-based uranium mining and exploration company. Located in South Texas , the company’s hub-and-spoke operations are anchored by the fully licensed Hobson Processing Facility, which is central to the Palangana, Burke Hollow and Goliad ISR projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, preconstruction ISR uranium project in the United States. Additionally, UEC controls a pipeline of uranium projects in Arizona, New Mexico and Paraguay; a uranium/vanadium project in Colorado; and a large, high-grade, ferro-titanium project in Paraguay. The company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, please visit www.UraniumEnergy.com.
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