Uranium Energy Announces Resource Estimate at Anderson

Uranium Energy Corp. (NYSE:UEC) announced it has received an independent resource estimate for its Anderson project in Arizona, USA.

As quoted in the press release:

The uranium mineral resource estimate was based on a total of 202,707 meters of drilling from 1,464 holes, including drilling completed by Minerals Exploration Company (“MinEx”) (1,054 holes), Urangesellschaft U.S.A. Inc. (“UG”) (385 holes) and 25 holes drilled by Concentric Energy Corp. (“Concentric”) as of April 15, 2012, the effective date for this estimate.  The mineral resource estimate has been generated from drill hole sample assay results and the interpretation of a geologic model which relates to the spatial distribution of uranium in the deposit.

Uranium Energy’s President and CEO, Amir Adnani said:

The Anderson Project strengthens the Company’s pipeline of projects in development because of its large, defined resource estimate. Our Company is the leading uranium player in Arizona with four quality projects, and Anderson is our flagship project there. Arizona is business and energy-friendly and operates three of the largest nuclear power plants in the United States, all of which have recently received their 20-year license extensions. We are starting the permitting process at Anderson now with the collection of data for environmental baseline studies.

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