Business & Finance
Fri, June 26, 2009Thu, June 25, 2009Wed, June 24, 2009Tue, June 23, 2009Mon, June 22, 2009Sun, June 21, 2009Fri, June 19, 2009Thu, June 18, 2009Wed, June 17, 2009Tue, June 16, 2009Mon, June 15, 2009Sun, June 14, 2009Fri, June 12, 2009Thu, June 11, 2009Wed, June 10, 2009Tue, June 9, 2009Mon, June 8, 2009Sun, June 7, 2009Fri, June 5, 2009Thu, June 4, 2009Powertech Uranium Corp.: Powertech to Amend Dewey-Burdock NRC License Application
Published in Business and Finance on Tuesday, June 16th 2009 at 11:24 GMT, Last Modified on 2009-06-16 11:24:48 by Market Wire
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2009) - POWERTECH URANIUM CORP. ("Powertech" or the "Company") (TSX:PWE)(FRANKFURT:P8A) announced today that it had a meeting with U.S. Nuclear Regulatory Commission ("NRC") staff in Washington D.C. on June 11, 2009 to review Powertech's uranium in situ leach application. While the Company believes the application was prepared in accordance with the regulatory guidelines, after meeting with NRC staff, company officials agreed to provide the NRC some additional information in order to assist NRC Staff in completing its acceptance review. The NRC staff identified five areas out of literally 100s of issues addressed in the approximate 7,800 page application that Powertech needs to clarify. After a very positive meeting, Powertech has an improved understanding of the additional information NRC staff needs in order to clarify the Company's plans and for NRC Staff to more fully understand the site conditions. For this reason, the Company is voluntarily withdrawing its application from the NRC in order to provide additional information in the five specified areas.
The Company expects that it will be able to resubmit the amended license application within the next 30 days as no additional field data collection is required. A significant portion of the information requested has been prepared and is contained in the Company's Underground Injection Control (UIC) Permit application that has been "ruled complete" by the U.S. Environmental Protection Agency (EPA) and is under review by the South Dakota Department of Environment and Natural Resources (DENR). The minor delay associated with providing supplemental information to NRC during the review process is not unusual for a project of this magnitude. Richard Clement, Powertech President and CEO, said, "Our goal is to make sure we have an environmentally sound plan that is understood and accepted by all the regulating agencies. We expect a quick turnaround to provide the information that the agency has requested, to supplement and clarify the information in the application."
This news release has been reviewed and approved by Mr. Clement, President and CEO of Powertech, under whose direction the Company's operations are being carried out. Mr. Clement, P.G., MSc., is a Qualified Person as defined by National Instrument 43-101.
About Powertech Uranium Corp.
Powertech Uranium Corp. is a mineral exploration and development company that, through its Denver-based subsidiary Powertech (USA), Inc., holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado and the Dewey Terrace and Aladdin Projects in Wyoming. The Company's key personnel have over 200 years of experience in the uranium industry throughout the United States, and have permitted more than a dozen in-situ operations for production. For more information, please visit [ www.powertechuranium.com ].
POWERTECH URANIUM CORP.
Richard F. Clement, Jr., President & CEO
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
