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May 20, 2014
08:33 EDTUECUranium Energy acquires Longhorn Project
Uranium Energy announced that it has acquired the Longhorn Project, located in central Live Oak County, Texas. Live Oak County has a long history of significant uranium production with an estimated output exceeding 30M pounds U3O8. On trend with the Company's Project, US Steel Corp. and other operators mined approximately 13.5M pounds of U3O8 using in-situ recovery methods along the historic George West district trend. The Longhorn ISR Project has an existing aquifer exemption which provides three major advantages. First, it eliminates a major permitting hurdle for the project, which will help expedite the regulatory process. Second, the existing AE interval already includes the mining zone of interest so no amendments are necessary. Third, the existing AE is large enough to allow additional expansion without amending the aquifer exemption boundary.
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