UEX Corporation is pleased to announce that exploration drilling has recommenced at the Christie Lake Project (the “Project”). The $2.75 million drill program began this past winter and was suspended in mid-April due to the spring thaw.
The summer program will focus on two objectives (see Figure 1):
- Expand the high-grade core of the known Paul Bay uranium deposit. On May 24, 2016, the Company announced the results of hole CB‑092 drilled during the winter program that intersected 9.3% U3O8 over 9.8 m, the highest ever GT (uranium grade × thickness) encountered at the Christie Lake Project to date. This result established the presence of a high-grade zone within the Paul Bay deposit footprint.
- Extend the Paul Bay deposit in the down-dip direction.
The program will consist of approximately 10 holes totaling 6,000 m and is anticipated to be completed by August.