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Uranium Energy Corp (NYSEMKT:UEC) announced the results from its recently completed drill campaign and development activities at its South Texas Burke Hollow IRS uranium project.
Uranium Energy Corp (NYSEMKT:UEC) announced the results from its recently completed drill campaign and development activities at its South Texas Burke Hollow IRS uranium project. The company started drilling on August 10 2015 and successfully completed 25,000-feet program on time and under budget.
Highlights from the company’s press release include:
- Successful completion of a 25,000-foot drill program at Burke Hollow results in the extension of the Eastern Lower B trend from 1.7 miles to approximately 3.7 miles
- The Eastern Lower B trend will be the first area scheduled for potential production at Burke Hollow
- Leach amenability testing indicates recovery greater than 90%
- Baseline monitor wells installed along Eastern Lower B trend
According the UEC:
The objectives of this latest drilling campaign were to obtain core for leach testing, install baseline monitoring wells, in-fill drill the gaps along the established Eastern Lower B trend and explore the extension of the Eastern Lower B to the south and southeast. The Eastern Lower B trend is expected to be the first production-area within the mine permit application, currently under advanced-stage technical review. The Eastern Lower B trend is one of seven trends discovered to date at the Burke Hollow project by the Company.
Andrew Kurrus, Vice President of Resource Development, commented:
The geological team is pleased by the coring results, by the initial leach test recovery rate and by the continued expansion of the Burke Hollow Project. In particular, we are excited about the extension of the first area scheduled for potential production within the Eastern Lower B trend where our recent drill results have extended the trend by over 2 miles to the south, and the trend remains potentially open-ended.