Uranium Energy (UEC), a US-based exploration and development company that is operating in North America’s new uranium mine, has declared the purchase of the rights for exploring the Channen project for uranium.
The area of this property measures 10,704 ac and is situated on the Goliad trend in the productive South Texas Uranium Belt. The location of this project is around 50 mi. towards the southeastern part of the Hobson uranium processing plant.
The Channen project is situated around 20 mi. towards the northeastern part of the Burke Hollow Project in Bee County and is about 25 mi. towards the Goliad project’s southern part. At first, the company discovered the new property after examining a group of logs, which reveal gamma-ray anomalies. These anomalies show uranium roll-front deposit type characteristics in numerous sandstone formations along with information obtained from wide exploration database of the company.
Currently, the geologists from the company are planning to carry out an aggressive exploration campaign, which includes a drill program. The company will start the drilling program after receiving the permits for exploration from the Railroad Commission of Texas. The drilling program is expected to primarily include a statistical grid that encloses the complete 10,704 ac property.