ATHABASCA BASIN, Saskatchewan UEX CORPORATION, the new company formed by PIONEER METALS and CAMECO CORP. and based in Vancouver, is busily drilling on two uranium prospects in northern Saskatchewan.
A $950,000 program is underway at the Hidden Bay project adjacent to the Rabbit Lake and McClean Lake uranium mines near Wollaston Lake, Sask. The budget is allocated for both geophysics and 4,800 metres of drilling.
A second, similar program at the Riou Lake project near Stony Rapids, Sask., will also cost about $950,000. At least three holes totaling 2,700 metres are planned.
Employees of Cameco are conducting the work on behalf of UEX. The UEX web site is located at www.uex-corporation.com.