Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, announced the discovery of high-grade uranium at its 82.77%-owned Christie Lake Project; the project is located in the eastern Athabasca Basin of northern Saskatchewan, Canada, situated along the McArthur River Mine, the world’s largest and highest-grade uranium mine. The company is reporting on seven holes that have been drilled in the new discovery, named the Sakura Zone; all seven holes contain uranium mineralization at or near the unconformity. According to the company, Christie Lake is part of UEC’s newly acquired Canadian high-grade pipeline, comprised of 29 properties. The most recent drill is among the highest-grade drill intersections of the year and is the highest-grade mineralized intersection ever encountered at the Christie Lake Project. According to the announcement, the area of the discovery has decades of conventional mining history with superior grade, including being among the top producers of global uranium using conventional production. “We’re delighted to hit the ground running with our newly acquired portfolio in Canada,” said Uranium Energy CEO and president Amir Adnani in the press release. “In the last 10 months, we’ve invested close to $420 million to create a unique two-pronged approach with a 100% unhedged market strategy: 1) near-term U.S. in-situ recovery (‘ISR’) production; and 2) Canadian high-grade conventional pipeline. Our Canadian high-grade conventional business is comprised of 29 projects, 5 of which are advanced resource-stage, with Christie Lake being one that we see strong potential for resource growth. The projects in Canada’s Athabasca Basin are among the highest grades globally for conventional mining and today’s headline 68% grade over two meters demonstrates this competitive advantage. While porosity, flow rates and recoveries are essential in U.S. in-situ recovery production, grade is king in conventional mining. At UEC, we have created a North American platform of best-in-class uranium resources in proven U.S. and Canadian mining jurisdictions.”
To view the full press release, visit https://ibn.fm/Vwk3T
About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of the fuel required for green-energy transition to a low-carbon future. UEC is the largest, diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly in-situ recovery (“ISR”) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all major permits in place. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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