Uranium Energy’s Goliad ISR Uranium Project has been extensively explored and delineated in the past by previous owners. The first exploration activities began in the 1970s. When the company acquired the project, over 550 exploration holes had been drilled; however since the acquisition, the company has drilled an additional 360 holes and completed extensive sampling, mapping and reporting.
The Company also holds a 49% interest in Cibola Resources LLC, the owner of a mining lease covering about 6,700 acres in the Cebolleta Land Grant located in Cibola County, New Mexico. The Cebolleta Land Grant lease can be found at the eastern end of the Grants Uranium District, and includes the previously-producing JJ Number 1/L-Bar uranium mine that used to be operated by the Standard Oil Company of Ohio (SOHIO). The Grants Uranium District was known to have the largest producing uranium mines in the US.
Uranium Energy’s 4,700 acres of mining leases and claims in the Wind River Basin uranium district of Wyoming has also been comprehensively documented of uranium exploration first conducted between 1969 and 1982. The database contains 500 drill holes, 16,000 feet of drilling data, and geological maps from which a significant U3O8 resource has been defined at shallow depths. The Company’s plans to conduct an exploration drilling program in order to delineate the shallow mineralization and to evaluate the project’s ISR potential.
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