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UEX Corp.
Summary
| Project: | Christie Lake | |
|---|---|---|
| Deposit: | Christie Lake | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 10/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-10-2018: UEX Corp. announces an Exploration/Drilling Update report for its Christie Lake deposit at the Christie Lake project. Drilling results incl. 11.2m @ 0.37% U3O8 from 450.0m. UEX Corporation (UEX:TSX) (“UEX” or the “Company”) is pleased to annou | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Roger Lemaitre, Trevor Perkins (Internal) | |
| ABSTRACT: | UEX Corporation (UEX:TSX) (“UEX” or the “Company”) is pleased to announce the results of the summer drilling program in the Shoreline area at the Christie Lake Project. The summer program’s main goal was to test the unconformity intersection of the Yalowega Trend in the 350 m wide gap in drilling between the Ken Pen Deposit and the high-grade Ōrora Deposit. UEX completed five holes during the summer program totaling 2,637 m and assay results have been received. All holes drilled during the summer program intersected uranium mineralization, confirming the potential for additional mineralization between the two deposits. Highlights from the summer program include hole CB-132 that intersected 0.37% U3O8 over 11.2 m from 450.0 to 461.2 m approximately 250 m southwest of the Ōrora Deposit, which included a subinterval of 1.21% U3O8 over 2.7 m from 458.5 to 461.2 m, which itself included a subinterval of 5.67% U3O8 over 0.5 m from 459.3 to 459.8 m. Assay results collected during the summer program are shown in the table below. Uranium assay analysis was conducted at the Saskatchewan Research Council’s Geoanalytical Laboratory in Saskatoon, Saskatchewan. The SRC Geoanalytical Laboratory is an ISO/IEC 17025:2005 accredited facility (#537) by the Standards Council of Canada. Assay intervals were composited using a cut-off grade of 0.1% U3O8. All depth measurements and sample intervals reported are down-hole measurements from drill core. True thickness has yet to be determined and is estimated at 80-85% of core thickness. With the completion of the summer program, UEX has now met our work obligations under the Christie Lake Option Agreement to earn our 60% interest in Project, which we expect will be finalized shortly. We are encouraged that the unconformity expression of the Yalowega Trend continues to yield uranium mineralization and follow-up drilling will be required between Ken Pen and Ōrora. While the Trend remains unexplored along strike to the southwest of the Paul Bay Deposit, UEX has yet to test the basement-hosted uranium potential northeast of Ken Pen, one of the key recognized exploration targets identified by UEX during the acquisition of the Christie Lake Project, nor have we had the opportunity to test for Ōrora-like targets up-dip of known mineralization on the B Trend immediately west of the existing deposits. -Roger Lemaitre, President & CEO | |
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