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UEX Corp.
Summary
| Project: | West Bear | |
|---|---|---|
| Deposit: | West Bear | |
| Location: | Canada | |
| Commodities: | Cobalt-Nickel | |
| Date: | 3/18/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-3-2019: UEX Corp. announces an Exploration/Drilling Update report for its West Bear deposit at the West Bear project. Drilling results incl. 45.40m @ 0.03% Co and 0.06% Ni from 26.6m. UEX Corporation (UEX:TSX) (“UEX” or the “Company”) is pleased to ann | |
| Resources: | (Resource, Inf.): 390Kt @ 0.37% Co, 0.22% Ni for 3172Klbs Co, 1928Klbs Ni contained | |
| CP/QP: | [Overall Report]: Roger Lemaitre, Trevor Perkins (Internal) | |
| ABSTRACT: | UEX Corporation (UEX:TSX) (“UEX” or the “Company”) is pleased to announce the second tranche of assay results from the winter drilling program on the Company’s 100% owned West Bear Property, located in the eastern Athabasca Basin of northern Saskatchewan. In January, UEX commenced a $4.25 million 110-160 drill hole program at West Bear with the objective of expanding the size of the West Bear Cobalt-Nickel Deposit (the “Deposit”) by extending cobalt mineralization along strike to the west. To date, the Company has completed 110 holes of this winter’s exploration program and drilled 9,780 metres. Assay results have been received for thirty-six drill holes. UEX announced assay results from the first five holes in the Company’s news release dated February 7, 2019, available at www.sedar.com or UEX’s website at www.uex-corporation. Thirty of the 31 holes from the second batch of assays returned composite grades that exceed the cobalt equivalent (“CoEq”) grade of 0.023% CoEq, the same cut-off grade used in UEX’s maiden resource estimate for the West Bear Cobalt-Nickel deposit announced on July 10, 2018 available at www.sedar.com or UEX’s website at www.uex-corporation. While the Company has been expanding the West Bear Cobalt-Nickel Deposit along strike to the west and in the area below the existing West Bear Uranium Deposit (the “Uranium Deposit”), UEX has also reviewed results from the sonic drill holes that defined the Uranium Deposit during the 2005 and 2007 exploration campaigns. Of the 214 sonic holes drilled, 99 holes encountered cobalt and nickel mineralization exceeding 0.023% CoEq within rock located below the Uranium Deposit and specifically excluded from the volume of rock comprising the Uranium Deposit. Twenty-six of these holes returned composite assay results exceeding 0.25% CoEq of which 10 holes exceeded 0.5% CoEq. | |
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