Energy

UEX Corporation (TSX: UEX) (“UEX” or the “Company”) is pleased to announce that summer drilling is underway at the Christie Lake Project. The summer program consists of a two-phase exploration drilling program with a combined budget of up to $2.5 million with the sole goal of expanding the high-grade Orora Deposit discovered during the winter …

UEX Corporation (TSX: UEX) (“UEX” or the “Company”) is pleased to announce that summer drilling is underway at the Christie Lake Project.
The summer program consists of a two-phase exploration drilling program with a combined budget of up to $2.5 million with the sole goal of expanding the high-grade Orora Deposit discovered during the winter 2017 exploration campaign.
Highlights from the winter discovery program includes hole CB-109, which intersected 22.81% U3O8 over 8.6 m from 475.1 to 483.7 m, and hole CB-116A, which returned 20.00% U3O8 over 8.5 m from 471.0 to 479.5 m. True widths are estimated to be between 80-85% of core length.

The Orora Deposit has so far been defined over a minimum strike length of 65 m and has a width of at least 20 m at its southwestern end.
The deposit consists of a very high-grade core which is flanked by additional mineralization at the unconformity.
The ultimate width of the Orora Deposit at the unconformity has not yet been defined by drilling. Most importantly, Orora remains open for expansion along strike to the southwest and to the northeast and down-dip to the southeast into the basement.

Phase I of the summer program has a budget of $1.5 million and will consist of nine drill holes totaling approximately 4,500 m.
The majority of Phase I holes will test the area along strike to the southwest of the Orora Deposit. Phase II will be dependent upon the results of Phase I, has a budget of $1.0 million, and would consist of an additional nine drill holes totaling another 4,500 m.
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