enCore’s Dewey Burdock uranium project gains US fast-track approval

[Ben Graham]

enCore Energy Corp.’s (NASDAQ: EU; TSXV: EU) Dewey Burdock uranium project in South Dakota has been approved for inclusion in the Fast-41 Program by the US Federal Permitting Improvement Steering Council.

The program is part of the implementation of President Trump’s Executive Order on Immediate Measures to Increase American Mineral Production.

Under the executive order, the Permitting Council identifies priority infrastructure and critical minerals projects to receive accelerated permitting review. Dewey Burdock is the first critical minerals project in South Dakota to be added to the federal fast-track system.

enCore is currently the only uranium producer in the United States. It operates the 100%-owned Rosita central processing plant (CPP) in South Texas as well as the Alta Mesa CPP in a joint venture with Boss Energy (ASX: BOE).

enCore plans to advance Dewey Burdock into development and production using the In-Situ Recovery (ISR) process. The method employs a chemical-free, water-based solution in the wellfield to dissolve uranium minerals underground, before pumping the uranium-bearing solution to a central processing plant for recovery. Compared to conventional open-pit or underground mining, ISR significantly reduces surface disturbance.

The project, wholly owned by enCore, is located in Custer and Fall River counties and will recover uranium from subsurface sandstone ore bodies.

The Dewey Burdock project hosts an estimated 17.1 million pounds of Measured and Indicated uranium resources at an average grade of 0.12% U₃O₈, with an additional 712,600 pounds classified as Inferred resources at 0.06% U₃O₈.

Shares of enCore slipped 1% in early Tuesday trading in Toronto to C$3.24 ($2.35), valuing the company at C$608 million ($441 million).