SASKATCHEWAN – All results from the 2007 winter/spring drilling program at the Shea Creek uranium project in the western Athabasca Basin have now been reported. Shea Creek hosts the Kianna, Anne and Colette deposits and is one of the ten western Athabasca projects currently under option from Saskatoon-based AREVA RESOURCES CANADA (the operator) to UEX CORP. of Vancouver. UEX has earned a 36.75% interest in the projects and can earn an additional 12.25% interest.
The 2007 drilling significantly increased the size of the Kianna deposit, especially in the basement portion of the deposit. AREVA plans to sink an exploration shaft at Shea Creek. The development work regarding the planned shaft is on schedule, and Areva expects to apply for the permits required for shaft construction by year end.
Exploration drilling will restart in early September with two or three rigs. Work will commence along a 500-m strike length between the Anne and Kianna deposits. Work is also slated to expand the Anne deposit to define the extents of both unconformity and basement mineralization. Currently the Anne deposit is open in all directions.
For an animated view of the Kianna deposit see www.uex-corporation.com. UEX Corp. is a Canadian uranium exploration company formed under agreement between CAMECO and PIONEER METALS, and has been listed on the TSX since July 2002.