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Uranium Resources Inc (URI)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Uranium Resources Inc
Uranium Resources, Inc. (URI) is focused on advancing to near-term production the Temrezli in-situ recovery (ISR) project in Central Turkey. URI also controls extensive exploration properties under nine exploration and operating licenses covering approximately 44,700 acres (over 18,000 ha) with numerous exploration targets, including the potential satellite Sefaatli Project, which is 25 miles (40 km) southwest of the Temrezli Project.
In Texas, the Company has two licensed and currently idled processing facilities and approximately 17,000 acres (6,900 ha) of prospective ISR projects. In New Mexico, the Company holds a federal Nuclear Regulatory Commission license to recover up to three million pounds of uranium per year using the ISR process at certain properties and controls minerals rights encompassing approximately 190,000 acres (76,900 ha) in the prolific Grants Mineral Belt in New Mexico, which holds one of the largest known concentrations of sandstone-hosted uranium deposits in the world. Incorporated in 1977, URI also owns an extensive uranium information database of historic drill hole logs, assay certificates, maps and technical reports for the Western United States.
Uranium Resources currently controls three production properties and several exploration projects in South Texas.
Uranium Resources began operations in 1977 in the South Texas uranium province. The Company has successfully completed several projects in the region, including completion of full restoration of the Longoria and Benavides projects. The Company has produced over eight million pounds of uranium over various extended periods beginning in the 1980s until 2009 when production was suspended at the Company’s Kingsville Dome Project due to unfavorable market conditions.
The Company’s Rosita and Kingsville Dome processing facilities remain on standby for a potential restart of production when there is a sustained recovery in uranium prices. The Vasquez Project is depleted and undergoing well field stabilization.
In addition, the Company strengthened its path to production with the addition of five exploration projects in the South Texas uranium province with characteristics amenable for potential in-situ recovery of uranium. All five projects are within 75 miles of the Company’s licensed Rosita and Kingsville Dome processing facilities.
Uranium Resources holds a significant range of properties throughout the extent of the Grants mineral belt of west-central New Mexico. Included within our property portfolio are fee lands that we own and some which are leased from third parties, patented and unpatented claims that we own as well as lease, one State of New Mexico mineral lease, and some surface leases.
Collectively, this property position represents one of the largest mineral rights holdings in the Grants mineral belt. These properties include Churchrock/Mancos, Crownpoint, Nose Rock, Roca Honda, West Largo/Ambrosia Lake, Cebolleta (Cibola Project) and Juan Tafoya (Cibola Project).
The Grants mineral belt is an approximately 100-mile-long northwesterly trending belt of sandstone-hosted uranium deposits that historically have been the largest producer of uranium in the United States. During the period between the early 1950’s and the mid-1980’s, more than 80 underground and-open pit projects were developed and operated. At various times during the productive life of the belt as many as six uranium processing mills were built and operated by The Anaconda Company, Homestake Mining Company, Kerr-McGee, Phillips Petroleum, and United Nuclear. Historically, the Grants mineral belt was the largest source of uranium in the United States.
URI holds a NRC source materials license to build and operate an ISR uranium processing facility on company-owned property in McKinley County, New Mexico. The license allows for the ISR process at the Churchrock and Crownpoint projects that together hold nearly 12.6 million tons of in-place mineralized uranium material. The license allows for the production of up to 1 million pounds per year from Churchrock Section 8 until a successful demonstration of restoration is made; after which the quantity of production can be increased and exploration on other properties covered by the license can begin. Total production under the license is limited to 3 million pounds U3O8 per year.
Since 2007, Uranium Resources have scanned approximately 18,800 drill logs in order to secure the data and they plan to continue these efforts as well as begin to digitize this data to allow for analysis of drill hole information using modern resource modeling techniques. These logs total nearly 23 million feet of hole drilled in the 1970s and 1980s with an estimated drilling and logging replacement cost of $700 million.
URI plans to utilize its historic exploration database to assess the projects that comprise its New Mexico resource base to determine the most economic and efficient method for each project and prioritize the future development of these assets as well as continue to advance uranium asset consolidation activities. The Company will continue to advance its discussions with entities that would benefit from the production of the uranium and continue outreach and communication efforts with the local communities, federal, State and local governments and the Navajo Nation to address legacy issues while continuing education efforts on the safety of today’s uranium recovery practices with the objective of bridging the gap that currently exists between uranium development entities and others with stakeholder interests in the State.
Uranium Resources Inc
6950 South Potomac Street
United States, 80112
+303 531 0470
Fax: +303 531 0519
The General Overview, Services, Products and Projects information for this profile was last edited on 02 Feb 2016.