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Uranium Energy Corp.
Summary
| Project: | Reno Creek | |
|---|---|---|
| Deposit: | Reno Creek | |
| Location: | United States | |
| Commodities: | Uranium | |
| Date: | 1/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-1-2019: Uranium Energy Corp. announces a Resource Estimation report for its Reno Creek deposit at the Reno Creek project. Updated mineral resource estimate at the project. CORPUS CHRISTI, TX, Jan. 15, 2019 /CNW/ - Uranium Energy Corp (NYSE American: UE | |
| Resources: | (Resource, M+I): 32.0Mt @ 0.041% U3O8 for 26.0Mlbs U3O8 contained | |
| CP/QP: | [Resources]: Robert Maxwell (Independent) | |
| ABSTRACT: | CORPUS CHRISTI, TX, Jan. 15, 2019 /CNW/ - Uranium Energy Corp (NYSE American: UEC, the "Company" or "UEC") is pleased to announce the Company has completed an updated National Instrument 43-101 Standards of Disclosure for Mineral Properties ("NI 43-101") resource estimate for its Reno Creek ISR Project ("Reno Creek" or the "Project"). The Project is in the Powder River Basin, Wyoming, and now includes the consolidation and inclusion of the former North Reno Creek project ("North Reno Creek") into the Company's Reno Creek Project. * The report is entitled "Technical Report and Audit of Resources of the Reno Creek ISR Project, Campbell County, Wyoming, USA" dated December 31, 2018 as prepared for the Company by Behre Dolbear, an internationally recognized mining consulting firm (the "Report"). The Report estimates a Measured and Indicated ("M&I") mineral resource of 26 million pounds of uranium ("U3O8 ") at a weighted average grade of 0.041% U3O8 contained within 32 million tons, and an Inferred mineral resource of 1.49 million pounds U3O8 at a weighted average grade of 0.039% U3O8 contained within 1.92 million tons. * Amir Adnani, President and CEO, stated, "For decades, the Reno Creek uranium district has been unable to reach its full potential due to fractured ownership. Through a string of accretive acquisitions over the past 24 months, UEC has successfully consolidated the key project areas, clearing the path for this substantial new resource, with the benefit of being covered under our existing production permit. We're executing on contrarian acquisitions during difficult years in the uranium market and have amassed a production profile of low-cost and fully permitted ISR projects. Combining Reno Creek with the Company's South Texas ISR projects, positions UEC to lead a renaissance in U.S. uranium production via the ISR mining method, which is globally recognized for being low cost and environmentally friendly." The Company completed the acquisition of the North Reno Creek project in May 2018 (press release dated May 3, 2018), and since that time has been focused on updating resources, consolidating permits, merging databases and locating all Project related information into a newly opened office in Glenrock, Wyoming, near the Project. | |
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