35 miles (56 kilometers) southwest of the city of Corpus Christi in Kleberg County, Texas.
The project includes a processing facility that is currently on standby for a potential restart of uranium production when there is a sustained recovery in uranium prices.
The property consists of mineral leases from private land owners on about 2,434 gross (983 hectares) and 2,227 net acres (900 hectares). The Company's property agreements allow the Company to hold those properties not held "by production" through annual payments of $10 to $30 per acre, and require the payment of royalties ranging from 6.25% to 9.375% of sales of uranium production from those properties.
Two 500-gallon per minute reverse osmosis systems were utilized for ground water restoration until they were idled in 2014 when groundwater restoration was completed.
The Company operated the Kingsville Dome mine and processing plant over three extended periods between 1988 and 2009, and produced 4.2 million pounds of uranium from the property. Production was suspended in 2009 due to unfavorable market conditions.
Uranium mineralization at the Kingsville Dome property occurs as roll-fronts hosted in the Goliad Formation, and is at depths ranging from 600 to 750 feet below the surface. Uranium mineralization is localized along the southwestern and northern flanks of the Kingsville Dome geologic structure.
Environmental and Permitting Status
The Company also holds a radioactive material license from the Texas Commission on Environmental Quality (TCEQ) for the project, as well as an aquifer exemption from the United States Environmental Protection Agency. New areas of production within the project area will require additional authorizations from the TCEQ.
The company began groundwater restoration and stabilization activities in 1998 for areas of depleted uranium mineralization, and since that time the Company has processed and cleaned approximately 2.96 billion gallons of groundwater at the project. The stabilization and monitoring processes for well fields are ongoing and continues according to regulatory requirements.