UEX Reports Results from First 19 Holes at Hidden Bay Project

UEX Corporation (TSX:UEX) announced the first 19 holes of the Hidden Bay winter drill program in the Dwyer Lake area show no radioactivity. As of last week 4,000 meters of the 10,000 meter drill program have been completed, with the remaining 6,000 meters being divided between Dwyer Lake, Wolf Lake and other Hidden Bay target areas.

As quoted in the press release:

Moderate to strong hydrothermal alteration of the sandstone is present in fourteen of these holes, with intense hydrothermal clay alteration having been encountered in thirteen of these holes within basement rocks.  A majority of these holes also intersected favourable basement lithologies and significant faulting. Anomalous radioactivity was not observed in the down-hole surveys; however, several notable characteristics have been observed:

• A major hydrothermal alteration zone over an area 175 m by 75 m has been confirmed, significantly expanding the area of intense clay alteration first indicated in historic hole D-57.  The alteration observed in historic hole D-57 initially prompted the Company to target Dwyer Lake;
• The presence of kaolinite-illite clays in the sandstone and basement rocks were not recognized in the historic D-57 hole; however, their prolific occurrence in this alteration system confirms Dwyer Lake as a high priority area; and
• The basement alteration at Dwyer Lake consists of intense hydrothermal clay that does not appear to consistently connect directly to the sandstone alteration zone at the unconformity and does not extend below a vertical depth of 110 m from surface.

Click here to read the full UEX Corporation (TSX:UEX) press release.