Uranerz Reports Production Well and Development Update
(firmenpresse) - CASPER, WYOMING -- (Marketwire) -- 03/29/12 -- Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX: URZ)(NYSE Amex: URZ)(FRANKFURT: U9E) is pleased to report that it continues to receive good uranium grades in holes drilled for well-field installation. The recent hole drilled for well A-15 returned 18 feet with an average grade of 0.561% eU3O8, yielding a grade-thickness ("GT") of 10, the best hole ever drilled by the Company. Using six drill rigs, a combined total of 165 monitor and production wells have been installed in Production Area # 1 of the Nichols Ranch unit. To date, 24% of the installed production wells have a GT near or above 2.
Examples of some of the best recent drilling results from the wells are provided below:
Development of the process and ancillary support infrastructure for the Nichols Ranch ISR Uranium Project continues on schedule. All buildings are fully enclosed with the maintenance shop approximately 97% complete. Interior wall framing is ongoing in the office, laboratory and processing plant buildings. The ion exchange vessels are currently being internally plumbed. Once this is completed, installation of process piping will be initiated. "We have been fortunate that the Wyoming winter weather this year allowed us to continue construction without stoppage and construction is proceeding as planned", stated Glenda Thomas, Vice President, Production.
Mr. Kurtis Brown, the Company's Senior Vice President, Geology and Development, is a "qualified person" as defined by Canadian National Instrument 43-101 and oversees the Company's well installation programs. He has reviewed the technical disclosure related to the Company's results that are provided in this news release.
About Uranerz
Uranerz is a U.S. mining company focused on near-term commercial in-situ recovery ("ISR") uranium production, and is currently constructing its first ISR mine in Wyoming. ISR is a mining process that uses a "leaching solution" to extract uranium from sandstone uranium deposits; it is the generally accepted extraction technology used in the Powder River Basin area of Wyoming. The Company controls a large strategic land position in the central Powder River Basin of Wyoming. Uranerz' management team has specialized expertise in the ISR uranium mining method, and a record of licensing, constructing, and operating ISR uranium projects. The Company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon and one other of the largest nuclear utilities in the country.
Further Information
For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at . Alternatively, please refer to the Company's website at , review the Company's filings with the Securities and Exchange Commission at , or visit the Company's profile on SEDAR at .
Forward-looking Statements
This press release may contain or refer to "forward-looking information" and "forward-looking statements" within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to, statements with respect to its exploration and development drilling programs, statements with respect to its exploration and construction plans, and all statements setting out projections or estimates or describing future plans or expectations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at ) and with Canadian securities administrators (available at ). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.
Contacts:
Uranerz Energy Corporation
Derek Iwanaka
Manager of Investor Relations
1-800-689-1659 or (604) 689-1659
(604) 689-1722 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 29.03.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 129887
Anzahl Zeichen: 0
contact information:
Town:
CASPER, WYOMING
Kategorie:
Mining & Metals
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