Uranium Energy Corp (UEC) has acquired the rights to explore uranium on the Channen Project located in southern Goliad County in the US state of Texas.
The project is located in the Goliad trend within the South Texas Uranium Belt, about 50 miles south-east of UEC's Hobson uranium processing facility.
A group of logs exhibiting gamma-ray anomalies, which displayed uranium roll-front deposit type characteristics in several sandstone formations, have been analysed and led to the identification of the new property.
Uranium Energy Corp has previously unveiled plans to commence a drilling exploration programme at the project, which is expected to initially consist of a statistical grid covering the entire Chaneen property.
The drilling programme will commence upon receipt of exploration permits from the Railroad Commission of Texas.
The new property lies on-trend with the UEC's recently acquired Burke Hollow project in Bee County and with several historic and two active in-situ recovery mines.