The draft license was approved following a detailed review carried out by the NRC.
Powertech prepared a detailed report of the Dewey-Burdock Project by collecting data, drilling numerous confirmation drill holes, testing of the Inyan Kara aquifer, and analyzing the information to be reviewed by the NRC.
Powertech president Richard Clement said the receipt of the draft license indicates the NRC has completed its review of many volumes of technical data.
"The work undertaken over the past several years has yielded a significant decision by the NRC and we look forward to completing the entire permitting process to begin operations on one of the best-undeveloped uranium deposits known in the U.S." Clement added.
The company has also submitted a land application of excess restoration water and two applications for water rights to the State of South Dakota for approval.
Powertech also submitted applications to the Environmental Protection Agency for the underground injection control program and the deep disposal wells for review.
The draft license will be finalized by NRC after the Supplemental Environmental Impact Statement and Safety Evaluation Report for the project are completed. The license is subject to formal legal review.
US based Powertech Uranium is a mineral exploration and development company.
