Shares of Uranium Explorer Higher on New Purchase

Sponsored:

Thursday, December 5, 2024

Uranium’s investment potential is fueled by its role in nuclear energy, and is a key part in the push for clean, low-carbon power. With rising demand, supply shortages, and geopolitical tensions, uranium is poised for growth, especially as governments back nuclear energy expansion. And this company, a mineral exploration company focused on conventional uranium assets just closed an acquisition that brings its total properties to over 88 square kilometers to explore and mine uranium.

In a press release today, Urano Energy Corp. (CSE: UE) (OTCQB: UECXF) announced that it has acquired 15 uranium properties. The properties encompass 345 claims covering 8,200 acres, or 33 square kilometers, and are situated within the Colorado Plateau geological region in Utah and Colorado. Fourteen properties have a production history, with over two dozen former mine portals and shafts.  All properties have known mineralization in three major mining districts, the Uravan Mineral Belt, La Sal and Lisbon Valley Districts.

The acquisition significantly adds to Urano’s growing uranium portfolio. Before the acquisition, it held three properties in Utah with a combined acreage of 8,240 or 33 square kilometers and five properties in the Colorado portion of the Uravan Mineral Belt.  With this acquisition, the company will have a total of 21,840 acres or 88 square kilometers of property in one of the best regions to historically explore and mine uranium in the United States. Uranium mining in Utah and Colorado has a significant history, closely tied to the discovery of rich mineral deposits in the state's southwestern region.  

Sponsored: