UEC Receives Two New Permits for Burke Hollow ISR Project

Uranium Energy Corp. (NYSEMKT:UEC) announced that it has now received two final Class 1 disposal well permits from the Texas Commission on Environmental Quality for its Burke Hollow project.
As quoted in the press release:

The Mine Permit, Aquifer Exemption and Radioactive Material License applications are in advanced stages of technical review and will be followed by the first Production Area Authorization application at Burke Hollow. The receipt of these permits, in addition to the already approved disposal well permits will allow for operations to commence at this project which is one of the Company’s largest ISR projects.

UEC began exploration drilling on the Burke Hollow Project in 2012 and discovered three mineralized trends later the same year. Subsequently the project has been expanded to its current size of almost 20,000 acres. To date, uranium mineralization has been discovered in three separate mineralized horizons, with two distinct and separate trend areas of the property, resulting in an inferred mineral resource of 5.12 million pounds of uranium (“U3O8”) grading 0.09% U3O8.*The mineral resource estimate is based on a total of 246,400 feet of drilling in 526 holes since mid-2012.* Only approximately 50% of the project acreage has been explored to date. The Project is located approximately 45 miles from the Company’s Hobson Processing Plant.

Click here to read the full Uranium Energy Corp. (NYSEMKT:UEC) press release.