SASKATCHEWAN — UEX Corporation of Vancouver has received a 43-101-compliant report for its Raven deposit and an update for its West Bear deposit, both located at the Hidden Bay project on the eastern side of the Athabasca Basin. The reports were prepared by Golder Associates.
The new Raven estimate includes 3.97 million tonnes grading 0.105% U3O8 in the indicated category, and 0.49 million tonnes grading 0.104% U3O8 in the inferred category a cutoff grade of 0.05% U3O8. Contained uranium oxide is 9.15 million lb (indicated) and 1.13 million lb (inferred). The adjacent Horseshoe deposit, reported in September 2008, contains an additional 3.58 million tonnes grading 0.24% U3O8 in the indicated category, and 0.31 million tonnes grading 0.21% U3O8 in the inferred category.
Total contained indicated uranium resources at the West Bear deposit have not significantly changed from the December 2007 43-101-compliant resource calculation, and stand at 78,914 tonnes containing 1.58 million lb U3O8 grading 0.908% U3O8 at a cutoff of 0.05% U3O8.
A supporting technical report reviewing all resources on the Hidden Bay project will be filed on SEDAR shortly. Or check the company’s website at www.UEX-Corporation.com.