Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, has finished the installation of 106 monitor wells at its Burke Hollow Project in Bee County, Texas. With the installation complete, UCE has met the criteria for its first Production Area Authorization 1 (“PAA-1”), the newest and largest in-situ recovery (“ISR”) well field being developed in the United States. Calling the installation a “significant milestone achievement toward ISR uranium production,” UEC noted that the completion was also an important step in America’s nuclear fuel supply chain to provide safe, clean and reliable carbon-free energy. The company is focused on advancing its Burke Hollow project to help the United States in its efforts to reduce imports of Russian uranium, a move represented by the U.S. National Nuclear Security Administration (“NNSA”) efforts to obtain at least one million pounds of U.S.-produced uranium for the country’s strategic Uranium Reserve. Now that the monitor wells are installed, the company will focus on additional exploration and delineation drilling to identify additional production areas. “We are pleased to have completed the installation of the Burke Hollow PAA-1 monitor well ring, a critical step towards uranium extraction,” said Uranium Energy Corp. VP of resource development Andy Kurrus in the press release. “We have also defined resources outside of PAA-1 at the project, including several exploration targets and anomalous areas that have only been lightly explored. We expect this to translate into an extensive project pipeline with additional exploration drilling and production area development in the near future. The development of Burke Hollow, the only recent uranium discovery in the United States, is the largest goliad formation deposit ever discovered in the South Texas Uranium Trend.”
To view the full press release, visit https://ibn.fm/qy3uu
About Uranium Energy Corp.
Uranium Energy is America’s largest, fastest-growing uranium mining company listed on the NYSE American. UEC is a pure-play uranium company and is advancing the next generation of low-cost, environmentally friendly in-situ recovery (“ISR”) mining uranium projects. The company has two production-ready, ISR hub-and-spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray plants. UEC also has seven U.S. ISR uranium projects with all major permits in place. Additionally, the company has other diversified holdings of uranium assets, including one of the largest physical uranium portfolios of U.S. warehoused U3O8; a major equity stake in the only royalty company in the sector, Uranium Royalty Corp; and a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and 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, visit www.UraniumEnergy.com.
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