Uranium Energy Corporation has acquired the rights to explore for uranium on the Burke Hollow Project, located in eastern Bee County, Texas, US.

Burke Hollow Project, a 17,510-acre property, is situated on the Goliad trend within the prolific South Texas Uranium Belt, and is located 50 miles to the southeast of the company’s Hobson uranium processing facility.

The company said South Texas Uranium Belt covers a large area, approaching the size of the state of Pennsylvania, and in-situ recovery methods to recover uranium, have been used to mine most of the uranium in this region.

An earlier South Texas exploration programme database by Total Minerals indicated the occurrence of strong eU3O8 intercepts in multiple horizons within both the Goliad Formation sands and the Lissie Formation sands at depths ranging from 180 to 400 feet.

Further, large volume of oil and gas drilling information with gamma ray recordings from forty oil and gas wells located on the Burke Hollow Project indicate that uranium mineralization may also occur in deeper intervals located below 400 feet in unexplored areas.

The company is currently planning an exploration program to include a drilling program which will commence in the next two months, consisting of a statistical grid covering the entire property.