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Goliad

 

PROJECT SNAPSHOT

 

  • The Goliad ISR Project is now fully permitted for production as it has been granted concurrence on its Aquifer Exemption from EPA Region 6. Construction at the Goliad ISR project is now accelerating;
  • Measured and Indicated Resource Estimate for the Company's Goliad Project of 5,475,200 pounds eU3O8 at an average grade of 0.05% and an Inferred Resource of 1,501,400 pounds eU3O8 at an average grade of 0.05%;
  • Uranium mineralization as currently defined by historic drilling remains open laterally in all directions, providing excellent potential targets for additional drilling and increasing the size of the resource; and
  • Mineralization is in four sand horizons from depths of 90 to 450 feet and metallurgical testing has been independently reviewed with recoveries of 86% to 89%.

 


 

RECENT DEVELOPMENTS

 

Dec 12, 2013
Uranium Energy Corp Provides Goliad Project Update

Oct 15, 2013
Uranium Energy Corp Reports Fiscal 2013 Financial Results and Provides Operations Update

Sep 5, 2013
Uranium Energy Corp Aligns Operations to Market Conditions with Optimization Strategy

Jul 31, 2013
Uranium Energy Corp Closes US$20 Million Loan Facility

Jun 10, 2013
Uranium Energy Corp Reports Fiscal 2013 Q3 Production Results and Provides Operations Update

Other Related News >>

 


 

PROJECT OVERVIEW

 

The Goliad in-situ recovery (ISR) uranium Project is located in north-central Goliad County, Texas, and as of May 1, 2012 consists of 13 ISR uranium mining leases that cover approximately 2,574 net acres of contiguous properties. The original holder of mining leases for this area was Coastal Uranium.  Coastal Uranium conducted a reconnaissance exploration project over a very large area that included the current Uranium Energy Corp leases in 1979 and 1980.  Moore Energy Corporation acquired the leases to the current property from Coastal Uranium and drilled 479 holes during 1983 and 1984.  After completion of exploration drilling in 1984, Moore Energy estimated uranium reserves (Moore classification only) of approximately 3,366,000 tons at an average grade of about 0.05% eU3O8 and an average disequilibrium factor of 1.494. This equates to approximately 5.2 million pounds of eU3O8.  This resource estimate is historical in nature.

The latest Technical Report, filed on March 4th 2008, provides for a measured and indicated resource estimate for the company's Goliad Project of 5,475,200 pounds at an average grade of 0.05% eU3O8, up from the previously reported and historical resource of 5.2 million pounds eU3O8 which was set forth in the Company's previously filed Goliad Project NI 43-101 technical report.  An additional 1,547,500 pounds of eU3O8 at an average grade of 0.05% is classified as an inferred mineral resource in the Technical Report.  The estimate is based on the results from 1,086 drill holes at the Goliad Project, 599 by Uranium Energy Corp, 487 historic.

The Goliad Project is located in the Interior Coastal Plains portion of the Gulf Coastal Plains physiographic province.  The geology is characterized by Tertiary age sedimentary units that dip and thicken toward the Gulf of Mexico.  Uranium mineralization is not uncommon in multiple Tertiary age formations and is predominantly found within sand-sandstone type roll front deposits.  The presence of strong reductants in permeable sands created either widespread or localized areas of reducing conditions in the groundwater that caused dissolved uranium migrating in oxidizing groundwater to precipitate and concentrate.

Resource Estimates:

The latest 43-101 for Goliad was filed on March 7, 2008. The Technical Report provides for a Measured and Indicated Resource Estimate for the Company's Goliad Project of 5,475,200 pounds eU3O8 at an average grade of 0.05%.This resource is located in two zones referred to as Zones A.,B,C and D. An additional 11,501,400 pounds eU3O8 at an average grade of 0.05% is classified as an Inferred Resource Estimate. The Resource Estimates completed by Thomas A. Carothers, P.Geo., are based on the results from 1,086 drill holes at the Goliad Project, 599 by Uranium Energy Corp, 487 historic.

Resource Estimates - Goliad Project
Resource Category
Cutoff GT
Tons
Grade % eU3O8
Pounds eU3O8*
M&I Resource
0.3
3,790,600
0.05
5,475,200
Inferred Resource
0.3
1,547,500
0.05
1,501,400
* Disequilibrium Factors Applied
GT - is grade-thickness determined by multiplying the grade of mineralization expressed in percentage terms by mineralized thickness measured in feet

 

2007 Exploration Drilling Program at the Goliad ISR Uranium Project
2007 Exploration Drilling Program at the Goliad ISR Uranium Project