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Uranium Energy Corp Reports Promising Drill Results
On October 1, 2023, Uranium Energy Corp (UEC) announced significant drill results from its Roughrider Project in Northern Canada. Drill hole results revealed an impressive 12.7% eU3O8 over 7.2 meters, located 850 meters northeast of the Roughrider Deposit. This discovery is a part of UEC’s ongoing exploration efforts within the eastern Athabasca Basin of Saskatchewan, a region known for its high-grade uranium resources.
Additionally, Drill Hole RR-940 has displayed basement-hosted uranium mineralization, yielding 6.96% eU3O8—a notable achievement as it highlights the best drilling results recorded outside the existing resource area. These results pave the way for further exploration and the potential for substantial resource growth in the region.
Innovative Exploration Techniques and Strategic Approaches
UEC has employed Ambient Noise Tomography (ANT) survey technology at the Roughrider Project for the first time, successfully identifying new targets along the uranium trend. This innovative exploration technique is expected to enhance the efficiency and effectiveness of UEC’s resource discovery efforts, particularly in the largely untested north exploration corridor.
UEC is steering the Roughrider Project through a robust three-prong strategy that includes expanding resources through enhanced drilling, finalizing the Initial Assessment (IA) Technical Report Summary, and executing Environmental Assessment (EA) baseline studies. The company is also prioritizing community engagement to facilitate the licensing and permitting processes necessary to advance the project.
Positive Outlook on Mineralization and Corporate Strategy
The continuity between drill zones is encouraging, with multiple holes intersecting uranium mineralization between the East and Far East Zones, suggesting a more extensive resource than previously identified. The overall depth to mineralization at the project is approximately 200 meters, primarily located within basement rocks beneath the unconformity, reinforcing the viability of further exploration efforts in the area.
Uranium Energy Corp is positioned as the largest and most diversified uranium company in North America, focusing on advancing environmentally-friendly In-Situ Recovery (ISR) uranium projects within the United States, alongside high-grade conventional projects. This comprehensive approach underscores UEC’s commitment to sustainable and cost-effective uranium production. In accordance with SEC Regulation S-K 1300, the technical information has been validated by Chris Hamel, P.Geo., UEC’s Vice President of Exploration in Canada.
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