UEC- CORPUS CHRISTI, TX, Nov. 17 /PRNewswire/ -Uranium Energy Corp (UEC:$5.2400,$0.3600,7.38%) is pleased to announce that the Company has started uranium production using in-situ recovery (ISR) methods at the Palangana Project in South Texas. Phase I of three separate development phases of the wellfield at Production Area 1 (PAA-1) is 100% complete, with more than 45 injection wells and production wells drilled, cased and tested. The Company is very pleased with the water volume that each well has yielded during the testing phase. Now, gaseous oxygen and carbon dioxide are being added to the circulating ground water, which has activated the mining process of dissolving the uranium from surrounding sandstones.
Amir Adnani, President and CEO, stated, "We are exceedingly proud that Palangana is the first new ISR uranium mine to achieve production in the U.S. in over 5 years. Kudos are due to our many professionals who have been working very hard to reach this important milestone. Palangana is one of the Company's four projects in South Texas. This initial production is really just the first step in the Company's regional strategy of greatly expanding resources and production in the re-emerging South Texas Uranium Belt, with the next project, the nearby Goliad ISR project, anticipated to join Palangana as a producing asset next year."
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