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UEX Corp.
Summary
| Project: | West Bear | |
|---|---|---|
| Deposit: | West Bear | |
| Location: | Canada | |
| Commodities: | Cobalt-Nickel | |
| Date: | 7/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-7-2018: UEX Corp. announces a Resource Estimation report for its West Bear deposit at the West Bear project. Initial mineral resource estimate at West Bear. UEX Corporation (UEX:TSX) (“UEX” or the “Company”), through its 100%-owned subsidiary, CoEX Met | |
| Resources: | (Resource, Inf.): 390Kt @ 0.37% Co, 0.22% Ni for 3172Klbs Co, 1928Klbs Ni contained | |
| CP/QP: | [Resources]: Sebastien Bernier (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | UEX Corporation (UEX:TSX) (“UEX” or the “Company”), through its 100%-owned subsidiary, CoEX Metals Corporation (“CoEX”) is pleased to announce the maiden mineral resource estimate for the West Bear Co-Ni Deposit, located on the Company’s 100% owned West Bear Property. The maiden mineral resource estimate was completed by SRK Consulting (Canada) Inc. in accordance with Canadian Securities Administrators’ National Instrument 43-101 Standards of Disclosure for Mineral Projects by Mr. Sébastien Bernier, P.Geo. and has an effective date of July 6, 2018. The West Bear Co-Ni Deposit mineral resources were determined using a cut-off grade of 0.023 percent cobalt equivalent (“CoEq”), using the equation CoEq = Co + (Ni x 0.2). Only mineralization located within a conceptual open pit was included in the final resource estimate. The resource is classified as an inferred mineral resource, totaling 390,000 tonnes averaging 0.37% cobalt and 0.22% nickel which equates to 3,172,000 pounds of cobalt and 1,928,000 pounds of nickel. The current mineral resource includes the results from 53 drill holes totaling 5,774 metres drilled by UEX in 2003, 2005 and 2018 targeting mineralization between 18 m and 85 m from surface. The reported mineral resource was constrained within modeled cobalt mineralization wireframes and estimated using a geostatistical block modelling approach. A block size of 5 by 5 by 2 metres for all mineralized lenses was used. Wireframe modeling, variogram analysis and block modeling were performed using Leapfrog Geo, Geostatisical Software Library (GeoLib) and Datamine Studio RM software. | |
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