enCore Energy to expand Alta Mesa uranium project

enCore Energy has acquired a 5,900-acre tract of land adjacent to its Alta Mesa uranium project in Texas, aiming to bolster the supply and longevity of its uranium processing operations.

The newly acquired area features uranium mineralization with roll fronts in multiple stacked sand formations similar to those at the existing Alta Mesa site.

William Sheriff, Executive Chairman of enCore, highlighted the strategic significance of the acquisition due to its geology and proximity to current operational wellfields.

The Alta Mesa uranium project operates as a joint venture, with enCore Energy holding a 70% ownership stake alongside Boss Energy, which owns the remaining 30%.

Recommendation Rating: Positive Outlook for enCore Energy

enCore Energy (NASDAQ: EU) saw an increase of 1.8% in pre-market trading on Monday following the announcement that the company has secured a substantial 5,900-acre tract of private land adjacent to its Alta Mesa uranium project in Texas. This acquisition aims to enhance the supply and longevity of the in-situ recovery uranium processing operations at Alta Mesa.

The company noted that uranium mineralization in this new area is characterized by roll fronts situated within several stacked sand formations of the Goliad Formation, similar to those found at the existing Alta Mesa site.

William Sheriff, Executive Chairman of enCore, emphasized the strategic importance of this acquisition, stating, “The impressive geology and its location, which is directly adjacent to our operational and previously utilized wellfields, make this an essential addition for enCore.”

The Alta Mesa uranium project operates as a joint venture, with enCore Energy holding a 70% stake and Boss Energy (OTCQX: BQSSF) owning the remaining 30%.