UEC files uranium resource estimates for projects in North and South America

26 July 2022

Mineral resource estimates for uranium deposits in Paraguay and the USA were detailed in separate announcements by Texas-headquartered Uranium Energy Corp (UEC).

Cores from drilling at Yuty. The newly reported mineral resources are from 543 drill holes (Image: UEC)

The company has disclosed mineral resources for the Yuty project in Paraguay and the Anderson project in Arizona in Technical Report Summary (TRS) filings on the US Securities and Exchange Commission's (SEC) EDGAR system. This is the first time that resource estimates for the projects have been reported under the S-K 1300 standard which has now been adopted by the SEC, updating and converting previous NI 43-101 resources into the new format.

Yuty, in south-eastern Paraguay, is considered amenable to in-situ leach mining methods. It has indicated resources of 8,962,000 pounds U3O8 (3447 tU) at a weighted average grade of 0.049% U3O8 and inferred resources of 2,203,000 pounds (weighted average 0.040% U3O8).

Clyde Yancey, UEC vice president of exploration, said the roll front geology apparent in the Yuty Project is very similar to the company's South Texas and Wyoming projects. "While our near-term priorities remain focused on Texas and Wyoming ISR production platforms, Yuty presents attractive long-term value and potential which is a great fit for our technical capabilities. As the world pushes for clean, safe, reliable energy, more uranium will be needed to fuel its growth and we are confident the Yuty Project will be part of that equation," he said.

UEC operates Yuty through its wholly-owned subsidiary, Transandes Paraguay SA, which holds a 100% interest in the Yuty Mining Exploration and Exploitation Concession Contract.

Earlier this month, the company also filed an S-K 1300 TRS disclosing indicated resources for the Anderson project in Arizona, with total indicated resources of 32,055,000 pounds U3O8 at an average grade of 0.099%.

Anderson is in Yavapai County, west-central Arizona, about 75 miles north-west of Phoenix. Mining is planned by a combination of open-pit and underground conventional mining methods.

Researched and written by World Nuclear News