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Uranium Energy Corp Closes Acquisition of the Fully Licensed Reno Creek Project
Aug. 10, 2017 08:28AM PST
Energy InvestingUranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) is pleased to announce that, further to its news release dated May 9, 2017, the Company has completed its acquisition of the fully permitted Reno Creek in-situ recovery (“ISR”) project located in the Powder River Basin, Wyoming (“Reno Creek” or the “Project”). Transaction Highlights Strengthens UEC’s pipeline of …
Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) is pleased to announce that, further to its news release dated May 9, 2017, the Company has completed its acquisition of the fully permitted Reno Creek in-situ recovery (“ISR”) project located in the Powder River Basin, Wyoming (“Reno Creek” or the “Project”).
Transaction Highlights
- Strengthens UEC’s pipeline of low-cost ISR uranium projects with the addition of Reno Creek, located in the prolific Powder River Basin in Wyoming.
- Reno Creek hosts an NI 43-101 Measured and Indicated resource* of 27.47 million tons grading 0.041% U3O8 yielding 21.98 million lbs. U3O8 at a grade-thickness (GT) cutoff of 0.20.
Amir Adnani, President & CEO, stated:
“We are very pleased to have completed an acquisition of this scale on an advanced, fully permitted, low cost ISR project in the prolific Powder River Basin of Wyoming.
We will continue to advance and optimize the Project in order to position it for turn-key development once the uranium market signals a recovery. Reno Creek is an exceptional addition to the UEC uranium mining portfolio near the bottom of the cycle.”