UEX to Commence Drill Program at Christie Lake

- January 29th, 2018

UEX Corporation (UEX:TSX) announced that they are set to commence the 2018 drilling program at the Christie lake project.

UEX Corporation (UEX:TSX) announced that they are set to commence the 2018 drilling program at the Christie lake project.
As quoted in the press release:

The winter 2018 exploration program is underway, with the goal of expanding the uranium resources on the Yalowega Uranium Trend (the “Trend”). The $1.5 million program consists of approximately 4,500 m of drilling in 9 holes. The program will focus on testing targets located along strike and northeast of the Ōrora Deposit.
The Ōrora Deposit was discovered during the winter 2017 exploration campaign. Highlights from the 2017 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. The 2017 summer drill program expanded the length of the Ōrora Zone to at least 150 m and mineralization remains open along strike both to the southwest and to the northeast.
The winter program will test unconformity targets located northwest and up-dip of modest basement-hosted uranium mineralization drilled by the previous operator in the 1990s. Testing up-dip of similarly mineralized holes by UEX in 2017 led to the discovery of the Ōrora Zone.
UEX has mobilized a crew to re-open the camp, confirm the thickness of lake ice in the planned drilling areas, and if required take steps to thicken the ice. Drilling operations are expected to commence by the end of the week.The winter program will be a major step towards UEX earning a 60% interest in the Christie Lake Project. The Company continues to work with a consulting firm to complete the maiden NI 43-101-compliant resource estimate for the Christie Lake Project.

Roger Lemaitre, president & CEO, commented:

I continue to be very optimistic about the opportunity to make additional discoveries along the Trend. The 2017 exploration program at the Christie Lake Project brought great success with the Ōrora Zone discovery. I am excited about the targets we will be testing this winter and eagerly look forward to seeing what the exploration team will achieve in the coming months.

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

 

New FREE Report: Investing in Psychedelics

   
What’s ahead for this exciting new segment? Learn more with our exclusive psychedelics report today. Published July 6, 2020.
 

Leave a Reply