Uranium Energy Corp Begins Production at Palangana ISR Project

Uranium Energy Corp (AMEX:UEC) reports that it  has began uranium production using in-situ recovery (ISR) methods at the Palangana project, South Texas.

The press release is quoted as saying:

Phase I of three separate development phases of the wellfield at Production Area 1 (PAA-1) is 100% complete, with more than 45 injection wells and production wells drilled, cased and tested. The Company is very pleased with the water volume that each well has yielded during the testing phase.

President and CEO of Uranium Energy Corp., Amir Adnani says:

“We are exceedingly proud that Palangana is the first new ISR uranium mine to achieve production in the U.S. in over 5 years. Kudos are due to our many professionals who have been working very hard to reach this important milestone. Palangana is one of the Company’s four projects in South Texas. This initial production is really just the first step in the Company’s regional strategy of greatly expanding resources and production in the re-emerging South Texas Uranium Belt, with the next project, the nearby Goliad ISR project, anticipated to join Palangana as a producing asset next year.”

Click here to access the entire news release.