Uranium Energy (UEC) Acquires All Rights to Burke Hollow Project
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Uranium Energy Corp. (AMEX: UEC) has acquired the rights to explore for uranium on the Burke Hollow Project, a 17,510-acre property located in eastern Bee County, Texas (the "Project"). The previously explored project is situated on the Goliad trend within the prolific South Texas Uranium Belt, and is located approximately 50 miles to the southeast of the Company's Hobson uranium processing facility.
In addition to the exploration information at hand from the prior work completed by Total, the Company's analysis of the Project is additionally guided by a large volume of oil and gas drilling information where gamma ray recordings were made. To date, selected gamma ray well logs 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 areas undrilled in the past by Total Minerals. The Company is still aggregating and studying available oil and gas well log information to enhance its understanding of the mineralization potential of the Project.
Company geologists are currently planning an aggressive exploration program to include a drilling campaign that will be initiated upon receipt of exploration permits from the Railroad Commission of Texas. It is anticipated that the drill program will commence in the next 60 days and will consist of a statistical grid covering the entire 17,510-acre property.� Subsequent offset holes will be drilled based on results, including extending and delineating mineralized zones discovered by Total Minerals.
In addition to the exploration information at hand from the prior work completed by Total, the Company's analysis of the Project is additionally guided by a large volume of oil and gas drilling information where gamma ray recordings were made. To date, selected gamma ray well logs 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 areas undrilled in the past by Total Minerals. The Company is still aggregating and studying available oil and gas well log information to enhance its understanding of the mineralization potential of the Project.
Company geologists are currently planning an aggressive exploration program to include a drilling campaign that will be initiated upon receipt of exploration permits from the Railroad Commission of Texas. It is anticipated that the drill program will commence in the next 60 days and will consist of a statistical grid covering the entire 17,510-acre property.� Subsequent offset holes will be drilled based on results, including extending and delineating mineralized zones discovered by Total Minerals.
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