UEX Starts $2.5 Million Basement Drilling Program at Hidden Bay

UEX Corporation (TSX:UEX) has started its 2015 winter exploration program at its 100 percent owned Hidden Bay project with a $2.5 million budget. The drill program aims to test a few high priority basement targets identified earlier.

According to the press release:

The 10,000-metre drilling program has commenced utilizing one drill rig, with a second rig expected in late January 2015.

The program will focus on two key target areas, Dwyer Lake and Wolf Lake, where the Company recognized the presence of previously overlooked but intense and widespread clay alteration within basement rocks and fault zones that is uncommon and often observed within and proximal to the large basement-hosted uranium deposits of the eastern Athabasca Basin, such as at the Millennium, Roughrider and Eagle Point Deposits.

Roger Lemaitre, president and CEO, said:

Since the completion of our summer core review program in September, our exploration team and I have been eagerly anticipating the start of our winter drill program. The mild weather in December delayed our start, but now that we have mobilized to the site we are looking forward to the drilling results from some of the most compelling basement targets I have seen in the Basin.

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