DGAP-News: Uranium Energy Corp Acquires Historic Drill Results for Seager-Salvo Project in South Texas
(firmenpresse) - DGAP-News: Uranium Energy Corp.
Miscellaneous
Uranium Energy Corp Acquires Historic Drill Results for Seager-Salvo
Project in South Texas
02.06.2010 14:30
Uranium Energy Corp Acquires Historic Drill Results for Seager-Salvo
Project in South Texas
Corpus Christi, TX, June 2, 2010 - Uranium Energy Corp (NYSE-AMEX:
UEC, the 'Company”) is pleased to announce that the Company has
acquired the full database of historic drill results for the
Company’s 100%-controlled Seager-Salvo in-situ recovery uranium
project in Bee County Texas.
The Seager-Salvo project is one of the more prospective exploration
lease holdings acquired by the Company with its purchase of the South
Texas Mining Venture in December 2009, which included the fully
licensed Hobson plant and the Palangana in-situ recovery uranium
project. The lease covers approximately 1,500 contiguous acres, and
was initially established in the early 1980s by Nufuels Corporation,
Mobil Oil’s uranium division, and subsequently acquired and
further developed by Uranium Resources Inc. (URI).
An historic uranium resource of approximately 1.5 million pounds of
U3O8 was developed by URI. The historic resource is based on 433 holes
drilled and logged by Nufuels and URI, and complimented by Princeton
Gamma Tech (PGT) direct uranium assay logging. The historical resource
estimate was completed prior to the implementation of NI 43-101
reporting standards. However, given the quality of the historic work,
the Company believes the resource estimate could be relevant. A
qualified person has not completed sufficient work to classify the
historic mineral resources as current mineral resources, and the
estimate should not be relied upon.
Amir Adnani, President and CEO, stated, 'Seager-Salvo fits well with
the Company’s existing near-term production portfolio in South
Texas. This property will enhance our regional operating strategy
whereby multiple satellite projects can be advanced to production with
final processing at the Company’s Hobson central processing
plant. Our objective is to continue to expand this pipeline of
prospective satellite projects through additional acquisitions and
development of our current properties.”
The historic resource is located in multiple roll fronts occurring in
'stacked” sands in the Goliad Formation. The Company’s
U3O8 resources at both Goliad and Palangana are also in the Goliad
Formation. The Seager-Salvo project is located approximately 70 miles
from the Company’s Hobson processing facility and could become
an efficient satellite project, along with the Company’s
Palangana, Goliad and Nichols in-situ recovery projects.
The database that was purchased consists of 433 gamma ray/resistivity
and lithology logs, PGT logs and drill plan maps. Company geologists
are currently evaluating the data. Management’s near-term plan
for the Seager-Salvo project is to perform a confirmation drill
program and to get an NI 43-101 Technical Report prepared.
The technical information in this news release has been reported in
accordance with the Canadian regulatory requirements set out in
National Instrument 43-101 and has been reviewed by Clyde L. Yancey,
P.G., Vice President of Exploration for Uranium Energy Corporation, a
qualified person under NI 43-101.
About Uranium Energy Corp
Uranium Energy Corp. (NYSE-AMEX: UEC) is a U.S.-based exploration and
development company with the objective of near-term uranium production
in the U.S. The Company’s fully licensed and permitted Hobson
processing facility is central to all of its projects in South Texas,
including the fully-permitted Palangana in-situ recovery project, and
the Goliad in-situ recovery project which is in the final stages of
mine permitting for production. The Company’s operations are
managed by professionals with a recognized profile for excellence in
their industry, a profile based on many decades of hands-on experience
in the key facets of uranium exploration, development and mining.
Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info(at)uraniumenergy.com
Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein, the
information presented in this news release constitutes
'forward-looking statements” as such term is used in applicable
United States and Canadian laws. These statements relate to analyses
and other information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. Any other statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance
(often, but not always, using words or phrases such as 'expects”
or 'does not expect”, 'is expected”, 'anticipates”
or 'does not anticipate”, 'plans, 'estimates” or
'intends”, or stating that certain actions, events or results
'may”, 'could”, 'would”, 'might” or
'will” be taken, occur or be achieved) are not statements of
historical fact and should be viewed as 'forward-looking
statements”. Such forward looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such risks and other factors include, among others, the actual results
of exploration activities, variations in the underlying assumptions
associated with the estimation or realization of mineral resources,
the availability of capital to fund programs and the resulting
dilution caused by the raising of capital through the sale of shares,
accidents, labour disputes and other risks of the mining industry
including, without limitation, those associated with the environment,
delays in obtaining governmental approvals, permits or financing or in
the completion of development or construction activities, title
disputes or claims limitations on insurance coverage. Although the
Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements contained in this news release and in any
document referred to in this news release.
End of Corporate News02.06.2010 Ad hoc announcement, Financial News and Media Release
distributed by DGAP. Media archive at www.dgap-medientreff.de and
www.dgap.de
---------------------------------------------------------------------
91171 02.06.2010Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Acero-Martin Exploration Inc.: Announces Commencement of 2010 Work Program on its Red Mountain Project in the Yukon
Datum: 02.06.2010 - 14:30 Uhr
Sprache: Deutsch
News-ID 21857
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 293 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Uranium Energy Corp Acquires Historic Drill Results for Seager-Salvo Project in South Texas"
steht unter der journalistisch-redaktionellen Verantwortung von
Uranium Energy Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
