Uranium Energy Corp (AMEX: UEC), a U.S.-based resource company with the objective of becoming a near-term ISR uranium producer in the United States, is utilizing its extensive information in uranium exploration and development work. Uranium Energy Corp. has acquired and is advancing uranium properties throughout the southwestern United States. One of the company’s core projects, the Goliad Uranium Project, is located in north-central Goliad County, Texas, and currently consists of 13 ISR uranium mining leases that cover approximately 1,421 net acres of contiguous properties.
The Goliad Project is specifically located in the Interior Coastal Plains portion of the Gulf Coastal Plains physiographic province where the geology is characterized by tertiary-age sedimentary units that dip and thicken toward the Gulf of Mexico. Uranium Energy Corp has currently drilled more than 599 confirmation and delineation holes from mid-2006 through the end of 2007 to a 43-101 compliant resource of 6.9 million pounds U3O8, of which 5.4 million pounds is measured and indicated, and 1.5 million pounds is inferred.
Uranium mineralization, defined by historic drilling that remains open laterally in all directions, provides excellent potential targets for additional drilling and increasing the size of the resource. By conducting drilling thorough research, the company has confirmed that uranium mineralization is not uncommon in multiple tertiary-age formations and is predominantly found within sand-sandstone-type roll-front deposits.
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