Canadian exploration company UEX has started its summer drill program at the Christie Lake project in Northern Saskatchewan. The project contains three known uranium deposits: Ōrora, Paul Bay and Ken Pen.
Canadian junior exploration company UEX (TSX:UEX) has commenced its summer drill program at the Christie Lake project in Northern Saskatchewan. The project contains three known uranium deposits: Ōrora, Paul Bay and Ken Pen.
UEX holds a 45-percent interest in the Christie Lake project, but the company has an option agreement to earn an additional 35-percent stake in the asset.
One of the goals of the 2018 summer drill program is the expansion of the Yalowega uranium trend. The uranium-focused explorer will also perform testing on targets located along strike and southwest of the Ōrora deposit, between the Ōrora and Ken Pen resources.
“Since UEX first became involved in the Christie Lake project, I have been eagerly anticipating drilling of the Yalowega trend immediately northeast and along strike of the Ken Pen deposit,” Roger Lemaitre, UEX’s president and CEO, said in the press release.
“We now recognize that the key structural target hosting high-grade mineralization remains untested over the entire 350m gap between the Ken Pen deposit and newly discovered Ōrora deposit.”
Not only is the Christie Lake project exciting for UEX, when brought into production the mine will help Canada retain its status as one of the top uranium-producing countries. A status that is currently in jeopardy since Cameco (TSX:CCO) closed its McArthur River uranium project indefinitely. McArthur River is the world’s largest uranium producing mine.
In fact, Christie Lake is situated in the historically uranium dense Athabasca Basin, located a short 9 km northeast of McArthur, and sits along strike.
UEX first discovered the Ōrora deposit during its winter 2017 exploration campaign. Some of the highlights from the winter program include: the discovery of hole CB-109, which intersected 22.81 percent U3O8 over 8.6m, and hole CB-116A, which returned 20.00 percent U3O8 over 8.5m.
The Ōrora zone has a minimum strike length of roughly 150m and mineralization remains open along strike both to the southwest and to the northeast, according to the junior miner.
The Paul Bay and Ken Pen deposits, which were discovered in 1989 and 1993 respectively, are estimated to host a combined 20.87 million pounds of U3O8 at an average grade of 3.22 percent U3O8. UEX will look to update the resource estimate for the sites, and ensure it is in accordance with the NI 43-101 regulations.
“The uranium mineralization at both these deposits [Ōrora and Ken Pen] remain open for expansion along strike into the gap we are targeting this summer,” added Lemaitre. Within this gap, basement-hosted mineralization has been intersected that has yet to be followed-up to the unconformity,” the company added.
UEX estimates that drilling will last approximately five weeks.
Shares of UEX were down slightly on Tuesday (August 28), closing at C$0.20.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Generation Uranium offers investors high-leverage exposure to a potential major discovery in Canada’s underexplored and resource-rich Thelon Basin, led by a management team with a proven track record of securing high-value exits.
Overview
Generation Uranium (CSE:GEN, OTCQB:GENR, FRA:W85) is a Canadian exploration company focused on wealth creation through discovery within the uranium sector. The company’s primary strategy is to build a high-caliber exploration team that can rapidly test and drill high-potential targets, de-risking projects for potential takeover by larger producers. Currently centered in the prolific Thelon and Angikuni Basins of Nunavut, the company is also actively evaluating additional project acquisitions in the Athabasca Basin to expand its portfolio.

The company is led by a veteran management team with nearly 30 years of experience in mineral development. CEO Michael Collins has a significant track record of building and exiting public companies, including the co-founding of Bluerock Resources, a conventional uranium producer during the 2000-2008 cycle. This expertise is paired with a focused business model that leverages modern geophysical targeting to accelerate exploration timelines and reduce costs, ensuring the company can deliver results quickly in a bullish uranium market.
Company Highlights
- Strategic Location in a Premier Uranium District: The flagship Yath Project is located in Nunavut’s Thelon Basin, contiguous to ATHA Energy’s Angilak Project, which hosts the high-grade Lac 50 deposit.
- High-Grade Discovery Potential: Historical surface sampling at the Yath Project has yielded exceptional uranium grades, including boulders testing at 9.81 percent, 3.95 percent, and 2.14 percent U3O8.
- Expert Management with Exit Experience: Led by CEO Michael Collins, the team has decades of experience in mineral exploration and a history of co-founding companies that were later acquired, such as Prime Mining and Nuclear Fuels.
- Low-Cost, Rapid Exploration Strategy: By leveraging modern geophysics and extensive historical data, the company aims for a "short road to discovery," de-risking projects quickly to maximize shareholder value.
- Bullish Market Fundamentals: Generation Uranium is well-positioned to meet the growing global demand for carbon-free nuclear power, supported by a projected supply deficit and increased interest from major tech companies seeking clean energy.
Key Project
Yath Project - Nunavut, Canada
The Yath Project is Generation Uranium’s flagship project. This 100 percent owned property covers about 120 square kilometers within the underexplored Thelon Basin in Nunavut, Canada. The project is located where the Yathkyed and Angikuni sub-basins meet, which is a region known globally for high-grade uranium potential. It sits directly along the same trend as the Angilak Project owned by ATHA Energy (TSXV:SASK, OTCQB:SASFK, FWB:XSU.F), which contains the Lac 50 deposit, one of the highest-grade uranium resources found outside of the Athabasca Basin with a historical mineral resource estimate of 43.3M lbs at an average grade of 0.69 percent U3O8.

The Yath Project is contiguous to the Lac 50 trend and is crossed by several regional faults and basin boundaries. Past exploration work has already identified high priority targets, while surface sampling in the area has produced uranium grades from boulders, with some testing at 9.81 percent, 3.95 percent, and 2.14 percent U3O8.
The company has commenced its initial field program at the site, set to define and rank drill targets. Historic showings will be combined with new anomalies from the MMT geophysics survey, preparing the project for an anticipated drill permit.
Management Team
Michael Collins - CEO & Director
Michael Collins is a professional geoscientist with nearly 30 years of experience in mineral exploration. He has co-founded several public companies, including Exploits Discovery, Prime Mining (acquired in 2025), and Nuclear Fuels (merged with Premier American Uranium in 2025). He is also currently a director of First Atlantic Nickel.
Christoph Bruening - Director
Christoph Bruening is the founder and managing partner of Value Relations GmbH, a full-service investor relations and public relations agency in Frankfurt with over 25 years of excellence, focusing on mining, exploration, biotech and health care. In addition, he has listed over 600 companies on the Frankfurt Stock Exchange and is a speaker and author of several publications, including on rare earths and uranium.
Dallas Miller - Director
Dallas Miller has been working within the international mining industry for over 15 years, working with BHP and Santos Ltd. He has experience on the ground from an operational standpoint, as well as being an integral part of raising millions of dollars in capital funding for both private and public companies in recent years.
Roger Leschuk - VP Corporate Development
Roger Leschuk has been in corporate management for over two decades, with the past 15 years dedicated to corporate development and investor relations. He has experience participating in and assisting with mergers and acquisitions, and was an investment advisor for various services such as stocks, mutual funds and tax-sheltered investments. He is a Chartered Investment Manager and a Fellow of the Canadian Securities Institute.
Monty Sutton - CFO
Monty Sutton brings over 35 years of experience in public markets and corporate governance. He previously served as CFO for Nuclear Fuels from its IPO through its acquisition.
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