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Burke Hollow

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Burke Hollow

Burke Hollow

NI 43-101 Technical Report Dec 18, 2017

NI 43-101 Technical Report Dec 29, 2014

NI 43-101 Technical Report Feb 27, 2013

Project Snapshot

  • The project-wide Inferred mineral resource is currently comprised of 7.09 million pounds of uranium (“U3O8”) at a weighted average grade of 0.088% U3O8 contained within 4.06 million tons.*
  • Approximately 50% of the Project has been explored to date.  UEC’s early wide-spaced exploration drilling revealed gamma-ray anomalies in several Goliad sands which remain open-ended for future exploration and development.
  • The Eastern Exploration Target Area has developed into Production Area I.
  • UEC’s most recent drilling campaign, which concluded on October 30, 2019, resulted in the expansion of Production Area 1, and the discovery of the Lower B-3 trend which will be delineated in the 2020 campaign.
  • The Texas Commission on Environmental Quality has issued a Radioactive Material License for the Burke Hollow Project, completing the last of the four major permits needed for uranium extraction. See news release dated Feb 20, 2019.
  • The license boundary includes 5,385 acres which encompass multiple production areas, and also authorizes construction of the satellite facility.
  • Burke Hollow Project now has an 11,359 acre Mine Area permit issued in December 2016, two disposal well permits, issued in July 2015, and the aquifer exemption, issued in March 2017.

Recent Developments

November 5, 2019
Uranium Energy Corp Discovers Additional Mineralization in Production Area 1 and Installs Monitor Wells in the 2019 Burke Hollow Drilling Campaign

February 20, 2019
Uranium Energy Corp Receives Radioactive Material License for the Burke Hollow ISR Project in South Texas

November 27, 2017
Uranium Energy Corp Increases Burke Hollow Resource by 38% with Results from Recent Drilling Campaign

April 5, 2017
Uranium Energy Corp Receives Aquifer Exemption Approval for its Burke Hollow ISR Project in South Texas

December 13, 2016
Uranium Energy Corp Receives Final Mine Permit for Its Burke Hollow ISR Project in South Texas

July 15, 2015
Uranium Energy Corp Advances Permitting at the Burke Hollow ISR Project in South Texas

May 27, 2015
Uranium Energy Corp Receives All Permits for Expansion at the Palangana ISR Mine and a Key Permit for the Burke Hollow ISR Project 

Nov 18, 2014
Uranium Energy Corp Reports a 77% Increase in Estimated Uranium Resource at Burke Hollow Project in South Texas

Oct 1, 2014
Uranium Energy Corp Reports Production Permitting Advances at Burke Hollow and Palangana in South Texas and Appoints New Vice President

Nov 11, 2013
Uranium Energy Corp Commences Drilling at the Burke Hollow ISR Project in South Texas

Oct 18, 2013
Uranium Energy Corp Announces a $7.1 Million Financing to Advance the Burke Hollow ISR Project in South Texas

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

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

Other News >>

Project Overview

UEC's Burke Hollow project is a 19,335-acre property located in eastern Bee County, Texas. This uranium project is situated along the downdip Goliad trend of the South Texas Uranium Belt and is located approximately 50 miles southeast of the Company's Hobson uranium processing facility. 

Two exploration target areas were initially identified in UEC’s 2012 NI 43-101 Technical Report for the Burke Hollow Project.  These are known as the Southern Target Area, and the Eastern Target Area.   No further exploration activity has occurred to date along the southern half of the Burke Hollow Project where the Southern Exploration Target area lies.  Early baseline monitor well drilling in the Eastern Target Area in 2013 resulted in the discovery and later delineation of the Eastern Lower B1 and B2 trends over a distance of 1.7 miles.  UEC’s subsequent drilling campaigns have further expanded and delineated the open-ended Eastern Lower B1 and B2 trends into two lightly drilled areas of the lease, and total 4.5 miles of mineralized trend length.

In UEC’s 2019 drilling campaign 72 additional monitoring wells were installed for Production Area 1 (“PA-1”).  In addition, 57 exploration and delineation holes were drilled in the campaign. Discovery of additional mineralization resulted in the expansion of the production area, as well as the discovery of a new trend.  In the 2019 drilling campaign, the Lower B1 and B2 trends were increased by 2600 and 3100 feet respectively, and the newly discovered Lower B3 trend length measured approximately 2900 feet, with additional undrilled potential within PA-1.  UEC plans to complete the delineation drilling and monitor well installation within PA-1 in 2020.  A total of 129 drill holes, totaling 54,724 feet were completed during the 2019 campaign.

The company has received all four major permits needed for production.  Two disposal well permits were issued in July 2015, and the 11,359 acre Mine Area permit was issued in December 2016 by the Texas Commission on Environmental Quality (TCEQ).  In March 2017, the Environmental Protection Agency also approved the 5,384-acre aquifer exemption.  The TCEQ issued the Radioactive Material License for the Burke Hollow Project in February of 2019, completing the last of the four major permits needed for uranium extraction.

Based on the cumulative results of the six UEC drilling campaigns at the Burke Hollow Project between 2012-2017, an Inferred Mineral Resource of 4,064,575 tons grading 0.088% pU3O8 (Prompt Fission Neutron determination) containing approximately 7.09 million pounds U3O8 in the combined Graben and Eastern Lower B trends has been estimated at the Burke Hollow Project.

The mineral resource estimates shown below were calculated using the GT (Grade x Thickness) contour method.  The GT values of the ore-bearing sand intervals for each hole were plotted on a drill hole location map and contour lines were drawn.  The areas within the GT contour boundaries were used for calculating resource estimates utilizing the following criteria:

The minimum grade cutoff was selected to be 0.02% pU3O8.  The mineral resources are reported based on a grade thickness (GT) cutoff of 0.30 and a density factor of 17 cubic feet per ton.  The 0.30 GT cutoff was selected for reporting purposes and is presented in Table 1.1, as is summarized across the various trends. 

Summary Of Burke Hollow Inferred Mineral Resources (PFN)*
Trend
Area
(ft2)
Average
Thickness
(Ft)**
Average Grade
pU
3O8
(%)
Average
GT (0.02
Cutoff)
Contained
pU3O8 (lbs)
Tons
Lower A1
(Graben)
1,287,077.0
11.0
0.097
1.079
1,624,844.62
837,548.77
Lower A2
(Graben)
271,257.9
8.8
0.073
0.514
163,129.09
111,732.26
Upper B
(Graben)
627,764.6
7.7
0.063
0.489
359,162.96
285,049.97
Lower B1
(Graben)
470,064.2
9.5
0.091
0.885
486,728.00
267,432.97
Lower B2
(Graben)
413,643.3
9.5
0.091
0.846
409,432.40
224,962.86
Graben   
Totals  
       
3,043,297.07
1,726,726.82
Lower B1
(East Side)
1,877,345.2
9.3
0.090
0.836
1,836,268.89
1,020,149.38
Lower B2
(East Side)
2,097,650.0
11.5
0.084
0.902
2,213,733.95
1,317,698.78
East Side   
Totals  
       
4,050,002.84
2,337,848.16
Graben and East Side   
(Project) Totals  
 
0.088***
 
7,093,299.91
4,064,574.98

All grade values are based on Prompt Fission Neutron ("PFN") logging and denoted by pU3O8
**Rounded to nearest tenth of a foot
***Weighted average grade for project