URANIUM: UEX tests heap leach potential for Horseshoe and Raven deposits

SASKATCHEWAN – UEX Corporation of Vancouver says metallurgical tests on material from its Horseshoe and Raven uranium deposits suggests ore from them may be amenable to heap leach recovery methods. The deposits are part of the company’s Hidden Bay project near Wollaston Lake, in the eastern part of the Athabasca Basin. UEX said bottle roll and column leach tests on sample material have been conducted. The column tests, in particular, point toward heap leaching. Column tests recovered 95% of the uranium in the samples after 28 days and 98% after 60 days. The program was conducted by SGS Canada in Lakefield, ON. The Horseshoe deposit is located 5 km southwest of Cameco's Rabbit Lake mill. The deposit an indicated resources of 5.12 million tonnes at an average grade of 0.203% U₃O₈ totaling 22.9 million lb of uranium oxide, and an inferred resource of 287,000 tonnes at an average grade of 0.166% U₃O₈ totaling 1.05 million lb. The Raven deposit is located 500 m southwest of the Horseshoe deposit and has indicated resources of 5.17 million tonnes at an average grade of 0.107% U₃O₈ totaling 12.15 million lb, and inferred resources of 822,200 tonnes at an average grade of 0.092% U₃O₈ totaling 1.67 million lb of uranium oxide. UEX said its next step will be to update the 2011 scoping study with information relevant to heap leaching. Technical reports on the Hidden Bay project are posted at www.UEX-Corporation.com/projects/resources/technical-reports.