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Uranium Energy reports 38% jump in contained resources at Burke Hollow

Uranium Energy Corp. reported a 38% increase in contained resources at its Burke Hollow uranium property in Texas, with inferred resources of 4.1 million tonnes at 0.088% pU3O8 for 7.1 million pounds of U3O8.

The estimate covers seven trends forming the Graben and East Side projects at the property, according to the Nov. 27 statement, while the pU3O8 grade is based on prompt fission neutron logging.

The update incorporates data from 707 drillholes, including a recent 132-drillhole campaign, and uses a cutoff grade of 0.02% U3O8.

Burke Hollow previously hosted inferred resources containing 5.1 million pounds of U3O8.

According to Uranium Energy Vice President Andrew Kurrus, the company expects to expand resources with further exploration, as there are several miles of lightly explored mineralized trends remaining to be developed.

Uranium Energy also continues to advance the approvals process for Burke Hollow, with major permitting expected to be completed in 2018. The company secured the final mine permit and aquifer exemption approval for the project, with a radioactive materials license expected to be approved as well.