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UEX Corp.
Summary
| Project: | Christie Lake | |
|---|---|---|
| Deposit: | Paul Bay | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 7/11/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-7-2016: UEX Corp. announces an Exploration/Drilling Update report for its Paul Bay deposit at the Christie Lake project. JV with JCU - drilling results incl. 5.9m @ 1.16% eU3O8 from 491.75m. UEX Corporation (UEX:TSX) (“UEX” or the “Company”) is pleased | |
| Resources: | (Resource, Historic): 20.87Mlbs U3O8 @ 3.22% U3O8, Historic resource for Paul Bay, Ken Pen deposits | |
| CP/QP: | [Overall Report]: Roger Lemaitre, Trevor Perkins (Internal) | |
| ABSTRACT: | UEX Corporation (UEX:TSX) (“UEX” or the “Company”) is pleased to announce the radiometric results of drill holes CB-092-2 and CB-093 targeting the Paul Bay Deposit (see Figure 1) at the Christie Lake Project (the “Project”), where UEX has a $2.75 million drill program which is currently underway. The Project is owned 10% by UEX and 90% by JCU (Canada) Exploration Company Limited (“JCU”). UEX holds an option to earn up to a 70% interest in the Project. Radiometric Equivalent Grades (“REGs” or “eU3O8”) from down-hole probe results from hole CB-093 encountered multiple mineralized intervals, the best of which returned 1.16% eU3O8 over 5.9 m (from 491.75 – 497.65 m) and included a section that averaged 3.45% eU3O8 over 1.3 m. Hole CB-092-2 also encountered multiple mineralized zones within the hole. REGs from down-hole probe results returned 1.17% eU3O8 over 1.5 m (from 512.75 – 514.25 m), including a subinterval of 1.57% eU3O8 over 1.0 m. The eU3O8 grade was estimated in-situ within the drill holes using calibrated down-hole radiometric gamma probes. Samples from holes CB-092-2 (and second offcut from hole CB-092) and CB-093 have been collected for assay analysis to confirm these equivalent grades. The samples will be analyzed at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan, with results expected in the coming weeks. The details on how eU3O8 was calculated from the probe grades was outlined in our press release of May 24, 2016. | |
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