Groundwater restoration was completed at the two production areas of the Vasquez Project in 2014, and stabilization is underway.
100 miles southwest of the city of Corpus Christi in southwestern Duval County, Texas
The project is undergoing well field stability monitoring of former production areas.
The Company holds a mineral lease on 872 gross acres of privately-owned land, and are currently undertaking reclamation and restoration of our former mining areas. The property lease provides for payments by the Company of production royalties ranging from 6.25% to 10.25% of the uranium sales price for prices between $25.00 and $40.00 per pound of uranium.
The Vasquez Project produced 590,200 pounds of uranium from 2004 to 2008 until depletion of the deposit.
Uranium mineralization at the Vasquez Project is hosted as roll-fronts in sandstones of the Oakville Formation, at depths of approximately 200 to 250 feet below the surface.
Environmental and Permitting Status
Since reclamation and groundwater restoration began, we have treated approximately 680 million gallons of groundwater at the Vasquez Project. The project has a radioactive material license and an underground injection control permit issued by the Texas Commission on Environmental Quality.