UEC announced that its Yuty ISR Project in Paraguay has received a signed resolution from the Ministry of Public Works and Communication, the national agency that regulates mining in Paraguay, advancing the Project from the Exploration Phase into the Exploitation Phase. The Company is informed that the Yuty Project is only the third mining project to achieve the Exploitation Phase since the current Paraguayan mining law was promulgated in 2007. Clyde Yancey, VP-Exploration, stated that he is pleased to reach this milestone in the development of the Yuty ISR Project.
The UEC commitment to their two Paraguayan projects, Yuty and Oviedo, continues to strengthen. Given the geologic similarities of their Paraguayan ISR projects and their South Texas ISR projects, UEC anticipate a strong investment case for Yuty highlighted by a low capital and operating expenditure profile. Amir Adnani, President and CEO, added that the development of Paraguayan uranium resources in proximity to both Argentina and Brazil is a significant step in the advancement of nuclear energy in South America. These two countries combined have five operating reactors, two under construction and seven more in the proposal stage.
In addition, a meaningful new uranium source from a peaceful and stable jurisdiction like Paraguay is beginning to draw the attention of global utility companies. Advancing Yuty to the next level underscores their ISR leadership position in South America and exemplifies the considerable depth of the UEC project portfolio that includes U.S. production and a diverse resource base. n Paraguay, UEC controls one of the largest in-situ recoverable property positions in the world with approximately 750,000 acres of prospective area. The Company's Yuty Project has a National Instrument 43-101 ("NI 43-101") Measured and Indicated Resource of 8.914 million pounds grading 0.052% U3O8 with an Inferred Resource of 2.226 million pounds grading 0.047% U3O8.
Original working (albeit slow loading) URL: https://www.prnewswire.com/news-releases/uranium-energy-corp-advances-the-yuty-isr-project-in-paraguay-from-exploration-phase-to-exploitation-phase-505453351.html
Managed & Built by I2M Consulting, LLC | © 2010-
