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UEX Corp.
Summary
| Project: | Christie Lake | |
|---|---|---|
| Deposit: | Paul Bay | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 10/14/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-10-2016: UEX Corp. announces an Exploration/Drilling Update report for its Paul Bay deposit at the Christie Lake project. Drilling results incl. 11.9m @ 4.23% eU3O8 from 530.15m. UEX Corporation (UEX:TSX) (“UEX” or the “Company”) is pleased to announce | |
| 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 radiometric probe results from five holes completed on the Paul Bay Deposit at the Christie Lake Project (the “Project”). The following results are from five targets identified as necessary for the Paul Bay resource estimate. Results from four of the holes drilled to test the margins of the mineralized zone were as expected; however, results from the final hole CB-102 were exceptional and unexpected. Hole CB-102 tested a large gap in the historic drilling (40-50 m between holes) within the lower section of the Paul Bay Deposit (see Figure 1). CB-102 encountered unexpected high-grade mineralization that included subintervals comprised of semi-massive uranium similar to that observed in holes CB-092 and CB-093 that defined the ultra-high grade subzone described in the UEX news release of September 7, 2016. The results from CB-102 suggest that a second high-grade subzone may exist within the Paul Bay Deposit. Room exists around CB-102 to further expand this high-grade mineralization with additional drilling in future programs, once our exploration team has the opportunity to further interpret the geology of this portion of the Paul Bay Deposit. Holes CB-098 and CB-099 tested the up-plunge trend of the ultra-high grade zone (see Figure 1). Hole CB-098 did not intersect significant radioactivity, whereas CB-099 encountered several narrow zones of weak uranium mineralization (see Table 1). These holes have defined the upper boundary of the ultra-high grade zone. Hole CB-097 was drilled to test the eastern extension of the Paul Bay Deposit. CB-097 did not encounter anomalous radioactivity or hydrothermal alteration, indicating that this hole marks the eastern boundary of the Paul Bay mineralizing system. | |
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