Uranium Energy Corp (AMEX:UEC) announced the completion of the Company’s initial exploration of land outside South Texas. This initial exploration program consisted of drilling 21 holes that totaled 9,230 feet, as Uranium Energy attempted to test the presence of mineralized trends in Carrizo Sand.
Initially, Wold Nuclear explored this area in the late 1970s. However, little to no exploration activities have begun since that time period. As a result, Uranium Energy Corp purchased Wold’s exploration records, consisting of reports, maps and drill logs in this area. After detailed analysis of these records was completed, UEW identified five miles of pertinent mineralized trends; focusing their exploration in this sole area.
Company geologists are currently analyzing the drilling data, as well as analyzing the geochemical data that was also collected during this exploration program. Initial values have shown potential extensive Uranium and Mineral deposits throughout all 18 drill holes. Consequently, the company is planning a follow up drill program in early 2008.
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