Uranium Energy Corp (NYSE American: UEC, the "Company" or "UEC") is pleased to announce that the Texas Commission on Environmental Quality has issued the Radioactive Material License for the Burke Hollow Project, completing the last of the four major permits needed for uranium extraction.
The Burke Hollow Project will be developed as part of the Company’s hub-and-spoke strategy, designed for low-cost in-situ recovery (“ISR”) of uranium with final processing to occur at our nearby and fully permitted Hobson Plant.
Craig Wall, Vice President Environmental, Health & Safety, stated: “This accomplishment is extraordinarily rewarding for the UEC team, despite very challenging conditions in the uranium sector over the past six years. We’re excited to advance Burke Hollow toward becoming a modern, low-cost and environmentally friendly ISR operation.”
Amir Adnani, President & CEO, stated: “The drilling and permitting advancements at Burke Hollow have positioned UEC to create the newest, near-term, production ready ISR project in the United States. We are in an optimal position to provide the U.S. a reliable and low-cost source of domestic uranium. The Company’s 2019 drilling campaign is scheduled to begin in early March and will consist of approximately 20 delineation holes and the installation of approximately 120 monitor wells to prepare for development of the Project’s first production area.”
The license boundary includes 5,385 acres, encompasses multiple production areas and authorizes construction of the satellite facility. In addition to the Radioactive Material License, the Burke Hollow Project now has an 11,000 acre Mine Area permit, approved in December 2016, two disposal well permits, issued in July 2015, and the aquifer exemption, issued in March 2017.
Source: Company Press Release