Uranium Resources is focused on exploration and development of energy-related metals – lithium and uranium. The Company has developed a dominant land position in two prospective lithium brine basins in Nevada and Utah with a goal to identify initial JORC-compliant resources on one project in 1H 2018. At the Columbus Basin lithium-brine exploration project in Nevada, located 27 miles (43 km) northwest of the only lithium brine production facility in the United States and 137 miles (220 km) from the Tesla Gigafactory, recent assay results from a surface sampling program indicated lithium at an average of 100 ppm with a maximum of 392 ppm in one sample. Uranium Resources also has the Sal Rica lithium-brine exploration project in Utah, located within a day’s drive of the only U.S. lithium brine producer.
The Company expects to advance the Temrezli in-situ recovery (ISR) uranium project in Central Turkey to economic development at higher uranium prices. The Company controls extensive exploration properties in Turkey under eight exploration and operating licenses covering approximately 39,000 acres (16,000 ha) with numerous exploration targets, including the potential satellite Sefaatli Project, which is 30 miles (48 km) southwest of the Temrezli Project. In Texas, the Company has two licensed and currently idled processing facilities and approximately 11,000 acres (4,400 ha) of prospective ISR uranium projects. In New Mexico, the Company controls mineral rights encompassing approximately 186,000 acres (75,000 ha) in the prolific Grants Mineral Belt, which is one of the largest concentrations of sandstone-hosted uranium deposits in the world.