Uranium Energy Corp. Drilling Reveals More Resources at Texas Site

On Thursday Uranium Energy Corp. reported positive results from test holes at its Salvo Project in Bee County, Texas.

Among 63, 580-foot-deep holes, 15 showed significant uranium mineralization with grade-times-thickness values greater than 0.30, according to a company release. A further six holes showed GT values between 0.06 and 0.30.

"The drilling results at Salvo are exciting for the company, and we look forward to the new resource estimate as a starting place for expansion of the project here. We are also examining current drill results to further refine our upcoming phase-two program where we will be drilling prospective new zones," Uranium Energy Corp. vice president of exploration Clyde Yancey said in a release.

Phase one of the drilling, which includes 43 holes previously reported in December, ends this month. The company plans further delineation drilling, metallurgical testing of the material and an independent update of its NI 43-101 technical report.

The south Texas property sits 50 miles from the company’s Hobson processing facility.

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