NORTHERN SASKATCHEWAN – Vancouver-based UEX CORP. has launched the search for an engineering firm to take its West Bear uranium deposit in the eastern Athabasca Basin to final feasibility. The property contains a flat-lying, shallow, near-surface deposit. The zones of mineralization have lithology, structure, alteration and chemical features that closely resemble those at CAMECO’s Cigar Lake deposit.
Cameco has just completed an interim resource estimate for UEX that puts the West Bear indicated resources at 46,500 tonnes grading 1.385% U3O8 or 1.39 million lb of uranium oxide. The deposit is located within 80 km of two existing processing facilities (Rabbit Lake and McClean Lake) and could be mined using open pit methods.
A $700,000 winter drilling program overseen by ROSCOE POSTLE ASSOCIATES is underway at West Bear. It will test geophysical targets on the edge of the deposit in order to locate additional deposits. Sonic drilling will begin next month. The Environmental baseline study is already underway, and is being done by GOLDER ASSOCIATES.
The Black Bear project is part of the larger Hidden Bay property. Details are available at www.UEX-Corporation.com.