Canadian Mining Journal

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URANIUM: UEX, Areva pledge $2.2M for Athabasca Basin exploration



SASKATCHEWAN – UEX Corp.  (49.1%) of Vancouver and Areva Resources Canada (50.9%) of Saskatoon have outlined a $2.2 million exploration program at the Western Athabasca joint uranium venture next year.

Three winter 2016 programs will be launched, the largest of which will be at Shea Creek where $1.35 million will be spent. The focus of work is the southernmost claim where the S-14 conductor will be drilled at 500-metre spacings. UEX will contribute $662,800 for its share.

UEX says it will not contribute to the $650,000 budget at Mirror River, and consequently its stake in this property will drop to 41.4%. Areva intends to fly a resistivity survey over the southernmost part of the property. The survey will aid in selecting future drilling targets.

The budget for Coppin Lake, 30 km north-northeast of the Triple R and Arrow discoveries, will be $200,000. A geophysical program is planned including 41.6 line kilometres of Squid moving loop EM surveys. Again, UEX has elected not to contribute to the costs, and its interest in the property is expected to drop to 0.1%.

For more information about the Western Athabasca joint venture, please see UEX-Corporation.com