| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
UEX Corporation’s latest assays expand the exciting Orora discovery
Uranium explorer UEX Corporation (TSE:UEX) has unveiled further positive assays from drilling at its Christie Lake project in Saskatchewan, which has expanded the newly found Orora zone to the southwest.
In January this year, the group discovered Ōrora – a new high-grade unconformity zone 500 metres along strike and to the northeast of the Ken Pen deposit.
- READ – UEX well positioned in one of the world’s most prolific uranium producing areas
- READ – UEX Corporation enjoys ‘transformational’ 2016 as it advances Christie Lake
Here, four further holes were sunk. The highlight was CB-116A, which returned high grades of 13.96% of uranium over 11.8 metres from a depth of 469.2 to 481.0 metres, including an intercept of 23.69% uranium over 4.8 metres.
At the Paul Bay deposit, the continuation of a high grade zone was also confirmed via drill finds, the firm said.
Meanwhile, at the Ken Pen deposit, due to the success at Orora, the firm has only completed two holes this winter in a bid to expand it.
One hole encountered a modest interval of weak uranium mineralization with a grade of 0.15% uranium over 2.6 m from 429.65 to 432.25 m.
Another – CB-115 - was drilled to test 25m along strike of the CB-107 mineralization and encountered narrow intervals of low grade uranium mineralization.
UEX holds 30% in Christie Lake and is working under an option agreement to earn up to 70%.
The property lies around 9 km northeast and along strike of Cameco‘s McArthur River Mine, the world’s largest uranium producer.
There are two known uranium deposits on Christie Lake - the Paul Bay and Ken Pen deposits.
Together, they are estimated to host a combined 20.87 million pounds of U3O8 at an average grade of 3.22% uranium and were discovered in 1989 and 1993 respectively.
Last month, the firm said the Orora discovery had changed the firm’s 2017 exploration program, which will now be focusing on determining the ultimate size of the Ōrora deposit.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/176022/uex-corporation-s-latest-assays-expand-the-exciting-orora-discovery-176022.html
