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Uranium Energy Corp Announces 32,000-Foot Drilling Program at Its Goliad Project in South Texas April 27, 2006 Objective of Drill Program is to Confirm and Expand 5.2 Million Pounds U3O8 Historic Resource and Provide Initial Key Data for Scoping Study and Permitting AUSTIN, TX – APRIL 27, 2006 – Uranium Energy Corp (“the Company”) announces that it has received its exploration permit for the Goliad Project in South Texas, and drilling operations are scheduled to commence during the third week of May. The program will consist of 70 test holes, resulting in approximately 32,000 feet of drilling. The objective of the program is two-fold: i) to further expand the resource base previously defined by Moore Energy Corporation by drilling along extensions of known mineralized fronts, and; ii) to confirm drill results reported by Moore Energy. The confirmation drilling will be completed by offsetting a minimum of four drill fences completed by Moore Energy through the ore bodies. It is anticipated that the field program will take five weeks to complete, and results will be forthcoming within a month of completing the program. Following compilation and analyses of results from the aforementioned program, the Company will continue to advance the Goliad Project on two fronts. First, delineation drilling will continue with the intention of expanding the resource base in areas of known ore, as well as areas of strong mineralization indicating ore potential. Secondly, the Company will begin environmental baseline studies, initiating the first phase of ISL mine permitting. The Goliad uranium deposits and attendant mineralization occur across a wide geographic area within the basal sands of the Pliocene age Goliad Formation. To date, ore grade mineralization has been developed within four stratigraphically separate sands (the A to D Sands) from 100 feet in depth to 400 feet. Development drilling performed by Moore Energy in the 1980s consisted of fences spaced at 400-foot intervals, with holes along the fences spaced at 100- to 200- foot intervals. The mineralized intervals within the four sands average 14 feet in thickness with grades ranging from 0.050% to 0.076% U3O8. An extensive program was run by Moore Energy to evaluate ore disequilibrium using PGT logging techniques. Ore grade intervals assessed by PGT logging consistently averaged within the very positive disequilibrium ranges of 1.4 to 1.7. The drilling program for Goliad Project is progressing as planned, and is on track to accomplish the Company’s near-term objective of uranium production in South Texas. Uranium Energy Corp will be releasing regular updates on the progress of permitting operations, and the results of drilling. About Uranium Energy Corp Uranium Energy Corp (URME: OTCBB) is a US-based junior resource company with the near-term objective of uranium production in the United States. The company has a mandate to acquire historical uranium resources that can quickly be developed into producing uranium mines. Its management is comprised of veteran mining and exploration professionals eminent in the field of uranium, whose collective experience in the mining industry, and specifically in the uranium mining sector, gives the Company over 180 years of uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the world’s first significant alternative energy boom. See www.uraniumenergy.com for more information. Contact North America: Investor Relations, Uranium Energy Corp Phone: Toll-Free (877) 676-7183 or (512) 721-1022 Fax: (512) 721-1023 E-mail: info@uraniumenergy.com Website: www.uraniumenergy.com Contact Europe: International Market Trend AG Phone: +41.43.888.67.00 Fax: +41.43.888.67.09 Stock Exchange Information: Symbol: OTCBB – URME Frankfurt/Berlin Symbol – U6Z, WKN: AØJDRR , ISN: US9168961038 Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. |
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| aus der Diskussion: | Uranium Energy |
| Autor (Datum des Eintrages): | Yellotiger (28.04.06 21:41:21) |
| Beitrag: | 10 von 15 (ID:21371205) |
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