 In this section:
PROJECT OVERVIEW
Uranium Energy Corp’s Paradox Project consists of the Gotcha claim group consisting of 15 lode claims (300 acres), located in Sections 15 & 16, T46N, R17W, and is directly east of the historic Cotter Open Pit uranium mine. The claim block was expanded to the east in March, 2008 on open BLM Ground. The Salt Wash Member of the Morrison Formation is 205-400 feet thick in the area and consists of red and green mudstones, light colored sandstone layers near the top and base, with lenticular strata between. The upper sandstone is the mineralized unit, with uranium and vanadium mineralization. The Cotter Open Pit Uranium Mine is directly west of the Project. At the J. J. Mine located one mile south of the Gotcha Claims, the upper sand is uranium bearing and is approximately 50 feet thick, and is subdivided into two sandstone beds, separated by green and red mudstone. The upper sandstone bed is 20-30 feet thick and contains the principle reserves. The sandstone is light to dark brown, fine to medium grained round to sub-rounded, and often stained by limonite derived from oxidation of pyrite. Where the sandstone is not oxidized it is light to dark brown. The sands contain minor amounts of feldspar, biotite and chert. Silica and calcite are the cementing material. Scattered carbonaceous zones and carbonaceous trash pockets are common. The uranium deposits are composed of interconnecting and overlapping layers of mineralized sandstone which coalesce locally to form mineable rock as much as 19 feet thick. Uranium is distributed irregularly through cross stratified sandstone units and generally bounded by less permeable mudstone and sandstone. The trend of the mineralization is parallel to the paleochannels that trend southeast in the area.
RECENT DEVELOPMENTS
May 22, 2008
Uranium Energy Corp Announces 2008 Uravan Mineral Belt Exploration and Development Program
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