Uranium Energy restarts project in Texas, wants to capitalize on the U.S. uranium reserve program
(Kitco News) - Uranium Energy (NYSE: UEC) announced the restart of wellfield development and resource delineation drilling at the company’s Burke Hollow in-situ recovery (“ISR”) uranium project in South Texas.
The company said that advancing and expanding Burke Hollow’s resources “…strategically dovetails” with UEC’s plans to participate in supplying the U.S. Uranium Reserve (“UR”) as outlined in the Nuclear Fuel Working Group report published by the U.S. Department of Energy. The UR is designed as a 10-year, $1.5 billion program to purchase newly mined U.S. origin uranium.
According to the company, the Burke Hollow’s initial production area is the newest and largest ISR wellfield being developed in the U.S.
In the 2021 drilling campaign, the company will expand and complete the production area authorization #1 (”PAA-1”) monitor well ring to include the two newly identified trends from the last campaign, resulting in a total of five fronts or trends within PAA-1.
In addition, the company plans to drill at least 30 exploration and delineation holes to further define the five mineralized fronts in PAA-1.
The project area is a 19,335-acre property located in eastern Bee County located in the South Texas uranium belt 50 miles to the southeast of the Company’s Hobson processing plant. Burke Hollow has received all four of its major permits required for uranium extraction from the Texas Commission on Environmental Quality and the Environmental Protection Agency.
Uranium Energy is a U.S.-based uranium mining and exploration company. 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.