Canadian Mining Journal

News

COBALT-NICKEL: UEX makes foray into new age metals



SASKATCHEWAN – In a departure from its usual focus on uranium, UEX Corporation of Vancouver is re-evaluating its 100% owned West Bear cobalt-nickel prospect at the Hidden Bay uranium project in the eastern Athabasca Basin.  The cobalt-nickel potential of the West Bear property was discovered while UEX was defining its West Bear uranium deposit immediatly west of the cobalt-nickel occurrence.

UEX’s Hidden Bay project may have cobalt-nickel potential as well as uranium at West Bear. (Image: UEX Corporation)

The West Bear cobalt-nickel zone was drilled between 2002-05, and the best result was 9.94% cobalt and 2.97% nickel over 0.2 metres less than 35 metres below surface. Good grades were also obtained from about 65 metres (3.95% cobalt and 2.36% nickel over 4.45 metres) and from about 50 metres below surface (2.15% cobalt and 0.91% nickel over 8.4 metres).

This zone appears to be amenable to open pit mining. It is also open in all directions.

As uranium prices remain low, UEX hopes to take advantage of the growing demand for cobalt driven by the electric car industry.

Information about UEX’s various uranium projects is posted at www.UEXCorporation.com.