enCore Energy Corp.
(NASDAQ:EU|TSXV: EU) (the “Company
” or “enCore”
), a uranium producer, today provides an update on the Company’s South Texas operations which are advancing on schedule and providing exceptional drilling results to support future planned production.
- The Alta Mesa In-Situ Recovery (ISR) Uranium Central Processing Plant (CPP) upgrades and refurbishments are advancing on schedule for the planned early 2024 resumption of uranium production;
- The Alta Mesa Project wellfield drilling is providing increasingly positive high-grade results from the wellfield delineation drill program;
- Uranium production from the Rosita CPP which commenced November 21, 2023, continues to meet projected start up production levels. Additionally, the Grand Opening at the Rosita CPP is scheduled on-site for February 6, 2024.
Paul Goranson, enCore Energy’s Chief Executive Officer, stated: “Our South Texas operations continue to advance on schedule due to our successful planning to ensure all necessary supplies and equipment were secured well in advance of installation.
With a full complement of people, materials, and equipment in the field, we are well positioned to make our timelines at our second production facility, Alta Mesa.
Additionally, the wellfield drill results are some of the best grades we have encountered to date. These results support our plan to accelerate and expand the drill program at the Alta Mesa Uranium Project.”
To view the Alta Mesa CPP and Wellfield and Rosita CPP maps please visit: bit.ly/3fV9fTg.
Alta Mesa CPP Development Update
At the Alta Mesa CPP, enCore has met most of the key objectives for the refurbishment of the processing circuits necessary for the planned early 2024 restart.
Work remaining includes final inspection of the ion exchange columns, testing the precipitation tanks, completing tie-in of the scrubber system, and installation and testing of the process circuit instrumentation.
The yellowcake drying circuit upgrades are advancing with the filter press support infrastructure on site.
Refurbishment and testing of the yellowcake drying system is progressing with that work scheduled to be completed just prior to the anticipated production restart timelines.
Within Production Authorization Area 7 (PAA-7), enCore is installing injection and production wells in the wellfield, has completed installation of the electrical transmission lines necessary for initial start-up and is continuing to install the pipelines to connect the wellfield to the Alta Mesa CPP.
All necessary equipment for the start-up of production in the PAA-7 wellfield has been received or has been ordered with a confirmed delivery schedule.
Alta Mesa Wellfield Drilling Update
The wellfield drilling operations, delineating the roll front mineralization within PAA-7, which commenced in March 2023, are advancing rapidly with 78 holes drilled since the previous update (November 20, 2023
In total, 445 drill holes have been completed through January 4th
, 2024. There are currently six (6) drill rigs in full operation at the Alta Mesa CPP and Wellfield, with contracts pending for three (3) additional rigs.
Further refined delineation drilling within the PAA-7 continues to establish the exact pattern of injection and recovery wells from which to maximize production efficiency.
To date, ninety-nine (99) holes have been cased with thirty-six (36) injection and production wells completed.
Two (2) drill rigs are currently casing wells and one (1) drill rig focused on well completion activities.
An additional drill rig will be moving to well completion activities in the coming weeks.
In addition to increasing numbers of drill holes and wells with Grade Thicknesses (“GT”) over 1.0 in PAA-7, the Middle C unit, which was found to overlie PAA-7 in 2023 (NR May 18, 2023) continues to exhibit unexpected significant grade, and further drilling along the Middle C trend is increasing the overall mineralization within PAA-7.
Grade Thickness is Grade % U3O8 multiplied by the thickness of the mineralization. ISR recoverable uranium with a Grade Thickness of >0.3 is considered suitable for inclusion in a wellfield.
Significant Alta Mesa Wellfield Drilling Results