US-based Uranium Energy has reported an initial inferred resource of 2.9 million pounds of uranium oxides at its Burke Hollow ISR project located in Bee County, Texas.
The project is located about 50 miles from the company’s Hobson uranium processing plant and also contains an exploration target of total contained 1.8 to 7.2 million pounds U3O8.
Results from an evaluation of mineralized zones indicate that an in-situ recovery is the most viable mining method for this project.
The company has commenced permitting work to submit mine permit applications in 2013 and plans for additional exploration and development drilling.
Texas Exploration manager Andy Kurrus said that the discovery signifies a new uranium sub-district within the Goliad Formation trend of the South Texas Uranium Belt.
"With only 30% of the property explored so far, we already have a strong base to develop from and plenty of opportunity for resource expansion," Kurrus added.