Uranerz Energy has declared that it has validated the new uranium trend discovery at the Monument project, through the new results obtained from the 2012 exploration drill campaign. This project is located adjacent to the other projects of the company in the Powder River Basin.
Powder River Basin Property Map
The company drilled 30 new uranium trend and delineation holes in a single segment of the project area. A total of 30 new holes followed up on 48 exploration holes, which are spaced widely and drilled in the Monument area during 2011. The company has planned to drill a total of 120 exploration holes in 2012.
Uranerz encountered 0.365% uranium over 5.5 ft in hole 22 – 2011, 0.074% uranium over 14.0 ft in hole 31 – 2012, 0.108% uranium over 10.5 ft in hole 33 – 2012, 0.159% uranium over 25.0 ft in hole 53 – 2012, 0.049% uranium over 15.0 ft in hole 55 – 2012 and 0.075% uranium over 14.5 ft in hole 56 – 2012.
According to Uranerz Energy’s Senior Vice President, Geology & Development, Kurtis Brown, the company is delighted to see the mineralization level at this exploration drill phase in the Monument project.
The company commenced drilling at the Monument project during April 2012 on the Arkose Mining Venture property. The location of the Monument project lies around 15 mi. towards the southeastern part of the Nichols Ranch project, wherein the first ISR uranium mine is being built by the company.