SASKATCHEWAN – Saskatoon-based AREVA RESOURCES CANADA has released results of the final six holes of the 2006 fall drilling program at the Shea Creek uranium project located in the western Athabasca Basin. Notable results included 12.36% U3O8 over 12.2 m, including 26.17% U3O8 over 2.8 m hosted in basement rock of the Kianna deposit.
The Kianna deposit includes multiple zones at depths from 662 to 922 m. Three distinct styles of high-grade mineralization have been identified. The upper perched, sandstone-hosted mineralization is found in zones tens of metres above the unconformity; it has assayed as high as 58.3% U3O8 over 3.5 m. The unconformity-type mineralization lies in close proximity to the unconformity, and it has assayed 27.4% over 4.2 m. The third type is the basement-hosted mineralization, found in zones up to 200 m below the unconformity; high assays from it included 25.5% over 4.0 m.
UEX CORP. of Vancouver has earned a 24.5% interest in the Shea Creek project and has an option to increase its interest to 49.0%. An animation of the mineralized intercepts in the Kianna deposit is available at www.UEX-Corporation.com. The complete press release with additional details of the latest drilling results is also available on the UEX website.