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Uranium Energy Corp.
Summary
| Project: | Burke Hollow | |
|---|---|---|
| Deposit: | Burke Hollow | |
| Location: | United States | |
| Commodities: | Uranium | |
| Date: | 11/18/2014 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-11-2014: Uranium Energy Corp. announces a Resource Estimation report for its Burke Hollow deposit at the Burke Hollow project. 77% increase in estimate Uranium resource at project. Corpus Christi, TX, November 18, 2014 - Uranium Energy Corp (NYSE MKT: | |
| Resources: | (Resource, Inf.): 5.12Mlbs U3O8 contained at project with a grade of 0.09% U3O8 | |
| CP/QP: | [Resources]: Clyde L. Clancy (Internal) | |
| ABSTRACT: | Corpus Christi, TX, November 18, 2014 - Uranium Energy Corp (NYSE MKT: UEC; “UEC” or, the “Company”) is pleased to announce that it has completed an updated National Instrument 43-101 ("NI 43-101") resource1 for the Company's Burke Hollow, Texas, property (the “Project”) that estimates an inferred mineral resource of 5.12 million pounds of uranium (“U3O8”) at a weighted average grade of 0.09% U3O8. This resource update includes information from 526 drill holes and represents an increase of 2.23 million pounds of U3O8 over the previous Project inferred mineral estimate, a 77% increase. This mineral resource estimate was completed using accepted methods mandated by NI 43-101 and Canadian Institute of Mining, Metallurgy and Petroleum standards utilizing a grade cutoff of 0.02% U3O8, and a grade times thickness product cut-off (GT) of 0.30. Details of the resource are set out in the table below. Concurrently, the Company is advancing production permitting for the Project and submitted a Radioactive Material License and Mine Permit application to the Texas Commission on Environmental Quality earlier in 2014. The Company has initiated permitting activities on the Project so it can move immediately into the extraction pipeline, consistent with the Company’s hub-and-spoke model for its South Texas assets. Additional exploration and development drilling is planned for Burke Hollow. | |
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