enCore Energy Corp. has hailed the latest drill results from its Rosita South project, which have underscored the potential to discover future uranium resources across the entire Texas property.
So far, 32 holes, for around 11,000 feet (ft), have been reported and eight mineralized sands plus a potential further four have been identified, all within 800 ft of the surface.
The drilling has also established an extension of mineralization in the so-called production area, supporting a start-up of the past-producing in-situ recovery (ISR) Rosita plant in 2023.
"We are pleased with the initial results from the on-going drill programs which have been designed to expand known mineralization at Rosita South and explore for new deposits at depth," said William M Sheriff, executive chairman of enCore Energy, in a statement.
"The results indicate enhanced potential for further uranium mineralization not only from the previously known shallow deposits but more importantly the virtually untested numerous stacked mineralized sands underlying the licensed production area.
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"The potential of multiple stacked uranium mineralized units can be compared in concept to oil and gas where there are commonly multiple pay zones (oil and gas bearing units) in a producing well or in many gold systems where near surface gold deposits overlay one or more deeper-rooted structures or units with gold mineralization."
The firm has recently added a third drill rig to the program, while two additional rigs are expected to begin in the near term.
"The addition of more drill rigs will increase the pace and breadth of both our delineation of known mineralization and exploration of these deeper mineralized sands," added Sheriff.
enCore noted that the current drilling has extended uranium mineralization over 300 ft laterally beyond the previously known limits of ISR amenable uranium mineralization.
The company is rapidly advancing towards becoming the next producer of uranium in the USA and boasts around 90 million pounds of U3O8 estimated in the measured and indicated (M&I) category and 9 million pounds in inferred.
With a completion deadline at the end of Q2/2022, its Rosita plant is on schedule and on budget to meet a 2023 production target. It is designed to process uranium feed from multiple satellite operations, all located in the South Texas area and is one of 11 licensed uranium processing plants in the United States, two of which are owned by enCore Energy
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