Resource update for Burke Hollow

Tuesday, 18 November 2014

Updated figures for Uranium Energy Corp's Burke Hollow project in South Texas see inferred resources increase by 77% to 5.12 million pounds U3O8 (1969 tU) at an average grade of 0.09% U3O8.

The NI 43-101 compliant resource figures reflect information from drill holes which led to the discovery and delineation of higher grade zones, doubling the uranium grade. Previously, inferred resources stood at 2.89 million pounds U3O8 (1112 tU). Initial technical reports for the project had identified ore grades of 0.03% and 0.06% U3O8.

The company has already begun the permitting process for the in situ leach project, and submitted an application for a radioactive material licence (RML) the Texas Commission on Environmental Quality in October. The RML is the last major application for the project: air permit exemption and initial production area authorization applications will be submitted later in the permitting process.

Further exploration is planned. Uranium Energy vice president for resource development Andy Kurrus said the company had identified three potential areas for additional drilling, each of which could add to the resource total. "We are only 526 holes into this project, and have already developed an impressive resource. Historically, most of the previous ISR projects have drilled double the number of holes before developing a resource like the current Burke Hollow estimate," he noted.

Company president and CEO Amir Adnani said the company's South Texas was advancing ahead of expectations, and he anticipated that Burke Hollow could be easily integrated into existing operations. "An additional three projects are in the exploration phase, also surrounding our Hobson Processing Plant," he said.

Researched and written
by World Nuclear News