Core from the West Bear cobalt-nickel project in the Athabasca Basin. (Image: UEX Corporation)
SASKATCHEWAN – Saskatoon-based UEX Corporation has released the maiden resource numbers for its West Bear cobalt-nickel deposit on the eastern rim of the Athabasca Basin. UEX made the discovery while it was exploring in the vicinity of the West Bear uranium deposit.
The West Bear property contains both the cobalt-nickel and uranium deposits.
UEX subsidiary CoEX Metals is the operator of the cobalt-nickel property. Using a 0.023% cobalt equivalent cut-off, the West Bear deposit contains 390,000 inferred tonnes averaging 0.37% cobalt and 0.22% nickel. In terms of contained metal, the figures are 3.2 million lb. of cobalt and 1.9 million lb. of nickel.
Assays from 53 holes or 5,774 metres drilled by UEX in 2003, 2005 and 2018 were used to arrive at the resource estimate.
UEX says West Bear has exhibited high grade potential even as open pit mining is planned. Hole WKBE-019 returned 9.94% cobalt and 2.97% nickel over 0.2 metre. Hole WBE-079 assayed 3.95% cobalt and 2.35% nickel over 4.5 metres. Hole WBE-071 tested 2.15% cobalt and 0.91% nickel over 8.4 metres. These grades were encountered between 40 and 65 metres below surface.
Additional information is available at www.UEX-Corporation.com.