Uranium Energy Corp Completes Acquisition of Major South Texas Uranium Exploration Database
Friday, 09 September 2011 07:20
Uranium Energy Corp announced that it has now completed the acquisition of a South Texas uranium database package from Uranium One.
Uranium Energy has issued 159,236 common shares of the Company at a price of $3.14 and has paid $400,000 in cash to complete the purchase of this strategic database which will significantly advance the Company’s ongoing exploration efforts in South Texas.
The Database is an evaluation of the uranium potential within the Goliad Formation located along the South Texas Uranium Belt, an area extending from south of Houston to the Mexican border. The Company’s operating Hobson in-situ recovery processing facility is situated within the South Texas uranium belt and its Palangana, Goliad, Salvo and Nichols projects are specifically located along the Goliad Formation.
UEC is incorporating this Database and the associated acquisition and exploration targets into its ongoing efforts to develop additional uranium sources for processing at the Hobson plant. The Database contains over 2.8 million feet of drilling results and 40 uranium targets that the Company plans to evaluate.
