Ur-Energy Announces 8,816,000 Pounds U308 Measured and Indicated Resource at Shirley Basin

Ur‐Energy Inc. (TSX:URE,NYSE MKT:URG) reported results from its recently completed uranium resource analysis for its Shirley Basin Project in Wyoming. The analysis identified 8,816,000 pounds U3O8 of Measured and Indicated Resources, averaging at 0.230 percent U3O8.

As quoted in the press release:

This uranium resource analysis is based upon approximately 3,200 historic delineation drill holes (1.2 million feet of drilling) completed by Pathfinder prior to its 1992 termination of mining operations in the Shirley Basin Mining District.  The results of Ur‐Energy’s confirmation drilling program, completed in May 2014, are also included in the analysis.  Pathfinder’s historic drilling was focused on two resource areas that fall within the boundaries of the existing mining permit.  These resource areas were identified as the FAB Trend and Area 5.  As a result of the close‐spaced drilling in these resource areas, (a 100‐ft grid of drill holes) 83% of the resources fall under the Measured Resource classification.   Also because of the high drilling density at the site, there are no reported Inferred Resources.  The average depth to the top of resources is 312 feet below the ground surface.

Ur-Energy President and CEO, Wayne Heili, said:

Our efforts have demonstrated the presence of a well defined, high‐grade uranium roll front deposit, at very favorable production depths on our Shirley Basin Project. Based on the strength of this maiden resource we feel that the project has the potential to be Ur‐Energy’s next production center in Wyoming.  The Company is currently moving at a rapid pace to advance the data collection programs necessary to support amendment applications to the existing mining permits and licenses.

Click here to read the Ur‐Energy Inc. (TSX:URE) press release