UEC launches Wyoming hub-and-spoke project

Friday, 8 April 2022

The project is centred on the fully licensed Irigaray Central Processing Plant as the "hub" with seven satellite projects - four of which are fully permitted - forming the "spokes". The satellites include assets purchased by UEC through its acquisition of Uranium One Americas (U1A), completed in December 2021, and the Reno Creek project, which it acquired in 2017.

The project consists of the Irigaray, Christensen Ranch, Moore Ranch, Reno Creek, Ludeman, Allemand-Ross, Barge and the Jab/West Jab project areas. Total measured and indicated resources across all the assets total 61,956,200 pounds U3O8, with total inferred resources of 7,105,700 pounds U3O8.

Texas-based UEC reports its mineral resources in accordance with the US Security and Exchange Commission's S-K 1300 regulation. With the exception of Reno Creek, the Technical Report Summary (TRS) filed by the company is the first time these resources have been reported under the S-K 1300 format.

Irigaray and Christensen Ranch have previously collectively been referred to as the Willow Creek project, with  Irigaray plant as the processing plant for that project. Christensen Ranch is currently under care and maintenance and Irigaray is operating in a toll processing capacity. The Christensen Ranch satellite plant is also fully licensed, and Moore Ranch, Reno Creek and Ludeman are fully permitted.

UEC President and CEO Amir Adnani said the technical data from the conversion of U1A’s historical resources into fully compliant S-K 1300 resources would be employed in implementing the company's uranium extraction plans. The resources outlined in the TRS filing also represent the largest S-K 1300 resource summary completed and filed to date, he added. "These considerable permitted Wyoming resources coupled with our Texas permitted projects, positions UEC to lead the resurgence of US uranium production," he said.