Canadian Mining Journal

News

URANIUM: UEX drills 4.27% at Christie Lake



SASKATCHEWAN – Vancouver-based UEX Corporation has the results for the first three holes it drilled at the Christie Lake uranium project in the Athabasca Basin.

The best hole was CB-92 that returned 4.27% U3O8 over 10.2 metres, including 13.24% over 3.1 metres that in turn had an interval of 21.69% over 1.7 metres. This hole confirms the location and high grade of the Paul Bay deposit, according to UEX.

The Paul Bay and Ken Pen deposits, discovered in 1989 and 1993 respectively, have a non-compliant historic resource of 20.87 million lb of uranium oxide        at a grade of 3.22% U3O8. UEX has plans to complete infill drilling at these deposits so the resources can be upgraded to 43-101 compliant indicated and inferred categories.

The Christie Lake project is owned 10% by UEX and 90% by JCU (Canada) Exploration. UEX holds an option to earn up to a 70% interest.

Christie Lake project details are posted at www.UEX-Corporation.com.