07:42 AM EDT, 03/18/2024 (MT Newswires) -- enCore Energy Corp. ( EU ) reported Monday its highest-grade drill results at the Alta Mesa uranium project in Texas.

The company said drill results from Alta Mesa's Production Area Authorization ranged up to a grade thickness of 8.4 with a maximum thickness of 13.5 feet.

"We are confirming higher grade portions of the mineralized zone than initially estimated from broader spaced drilling as proposed in the 2023 technical report," CEO Paul Goranson said.

enCore said upgrades and refurbishments are advancing on schedule, with the production restart scheduled in early 2024.

"We look forward to returning Alta Mesa to production in the coming weeks," Goranson said.

The company gained 3.2% last Friday.