The 10,704-acre property is located on the Goliad trend within the prospective South Texas Uranium Belt, and nearly 50 miles to the southeast of the company’s Hobson uranium processing facility.
The Channen Project lies on-trend with the company’s recently acquired Burke Hollow Project in Bee County, and adjacent to its Goliad Project as well as several historic and two active in-situ recovery mines.
Channen Project was initially identified after the analysis of a group of logs exhibiting gamma-ray anomalies displaying uranium roll-front deposit type characteristics in several sandstone formations.
The company plans to launch a drilling program in the near-term that will be initiated upon receipt of exploration permits from the Railroad Commission of Texas.
It is anticipated that the drill program will initially consist of a statistical grid covering the entire property.
Uranium Energy noted the current deal is the sixth addition to the company’s South Texas hub-and-spoke production strategy.
