CORPUS
CHRISTI, Texas, April 18,
2022 /CNW/ - enCore Energy Corp.
("enCore" or the "Company") (TSXV: EU) (OTCQB: ENCUF)
announced today that the refurbishment of its 100% owned Rosita
In-Situ Recovery (ISR) Uranium Processing Plant (Rosita Plant) is
presently 90% complete with an expected completion date in
May 2022. The Plant modernization and
refurbishment is essential to the Company goal of becoming the next
producer of American uranium. enCore is also pleased to launch its
first corporate video which can be viewed at:
https://www.youtube.com/watch?v=b8ncNg-rq-Q
Once the modernization and refurbishment project is complete,
enCore will commence commissioning work, expected to take
approximately 30 days. Following commissioning work the Plant will
be ready to start receiving loaded resin. Concurrently, monitor
well installation, baseline water quality analysis, and
hydrological testing will be completed as part of the Production
Area Authorization (PAA) process with the Texas Commission on Environmental Quality.
(TCEQ). Wellfield installation will begin immediately
following the submittal of the PAA data package to the TCEQ. All
activities are on track and on budget for a projected 2023
production start.
Simultaneously, enCore is commencing a cost benefit analysis to
consider options for expansion of the current 800,000 pounds
U3O8 production capacity at its Rosita Plant.
The capacity of the Rosita Plant has the potential to be increased
to 2,000,000 pounds U3O8 with the primary
expense being acquisition and installation of a larger second dryer
that could range between $1.25 and
$2.0 million. No additional permits
are required to upsize capacity at the Rosita Plant.
enCore congratulates the team at the licensed Rosita Plant and
Kingsville Dome Plant, both located in South Texas, for operating with phenomenal
safety records. The Rosita Plant has operated for 1,290 days
without a Lost Time Accident and the Kingsville Dome Plant has
operated for 2,662 days without any Lost Time Accidents.
Rosita Central Uranium Processing
Plant (Rosita Plant)
enCore's Rosita Plant, located approximately 60 miles from
Corpus Christi, Texas, is a
licensed, past-producing in-situ recovery (ISR) uranium plant
currently under modernization and refurbishment. With a completion
deadline at the end of Q2/2022, the plant is on schedule and on
budget to meet a 2023 production target. The Rosita Plant is
designed to process uranium feed from multiple satellite
operations, all located in the South
Texas area and is 1 of 11 licensed uranium processing plants
in the United States, 2 of which
are owned by enCore Energy.
About enCore Energy
Corp.
enCore Energy is rapidly advancing towards becoming the next
producer of American uranium. With approximately 90 million pounds
of U3O8 estimated in the measured and
indicated categories and 9 million pounds of
U3O8 estimated in the inferred
category1, enCore is the most diversified in-situ
recovery uranium development company in the United States. enCore is focused on
becoming the next uranium producer from its licensed and
past-producing South Texas Rosita Processing Plant by 2023. The
South Dakota-based Dewey Burdock and Wyoming Gas Hills projects
offer mid-term production opportunities with significant
New Mexico uranium resource
endowments providing long-term opportunities. The enCore team is
led by industry experts with extensive knowledge and experience in
all aspects of ISR uranium operations and the nuclear fuel
cycle.
|
|
|
1 Mineral
resource estimates are based on technical reports prepared in
accordance with NI43-101 and available on SEDAR as well as company
websites at www.encoreuranium.com.
|
www.encoreuranium.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: Certain information in this news release
constitutes forward-looking statements under applicable securities
laws. Any statements that are contained in this news release that
are not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often
identified by terms such as "may", "should", "anticipate",
"expect", "potential", "believe", "intend" or the negative of these
terms and similar expressions. Forward-looking statements in this
news release include, but are not limited to, statements relating
to the intended use of the net proceeds of the Offering and the
completion of any capital project or property acquisitions.
Forward-looking statements necessarily involve known and unknown
risks, including, without limitation, risks associated with general
economic conditions; adverse industry events; future legislative
and regulatory developments; inability to access additional
capital; the ability of enCore to implement its business
strategies; and other risks. Readers are cautioned not to place
undue reliance on forward-looking statements as there can be no
assurance that the plans, intentions or expectations upon which
they are placed will occur. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/encore-energy-provides-rosita-uranium-plant-update-releases-corporate-video-301526876.html
SOURCE enCore Energy Corp.