UEX Files Technical Report for the Christie Lake Project
February 04 2019 - 09:48AM
UEX Corporation (UEX:TSX) (“UEX” or the “Company”), is pleased to
announce that it has filed a technical report on the Christie Lake
Project (the “
Technical Report”), pursuant to
National Instrument 43-101 “Standards for Disclosure for Mineral
Projects” (“
NI-43-101”). The Technical Report
supports the disclosure made by UEX in its December 19, 2018 news
release announcing the maiden resource estimate of the Company’s
60% owned Christie Lake Uranium Property. JCU (Canada) Exploration
Company Limited, a private company actively engaged in exploration
and development owns 40% of the Christie Lake Project.
The Technical Report is entitled: “Technical
Report for the Christie Lake Uranium Project, Saskatchewan, Canada”
and was prepared by SRK Consulting (Canada) Inc. by Dr. Aleksandr
Mitrofanov, P.Geo., supported by Dr. David Machuca, P.Eng., and Mr.
Glen Cole, P.Geo. of SRK Consulting (Canada) Inc., (each of whom is
an independent “Qualified Person” for the purposes of NI 43-101)
and by Mr. Christopher Hamel, P.Geo., Chief Geologist of UEX
Corporation (who is a non-independent “Qualified Person”). The
Technical Report is dated February 1, 2019 and has an effective
date of December 13, 2018.
The Technical Report is available on the
Company’s website at www.uex-corporation.com and is available on
SEDAR at www.sedar.com.
On December 19, 2018, the Company announced a
maiden inferred resource estimate for the Christie Lake Project of
588,000 tonnes grading 1.57% U3O8, which equates to 20.35 million
pounds of U3O8. The Christie Lake mineral resources were reported
using a cut-off grade of 0.2 percent U3O8.
The technical information in this news release
has been approved by Mr. Roger Lemaitre, P.Geo., P.Eng., President
& CEO of UEX Corporation, who is a “Qualified Person” in
accordance of the requirements of NI 43-101.
About UEX
UEX (TSX:UEX, OTC:UEXCF.PK, UXO.F) is a Canadian
uranium exploration and development company involved in nineteen
uranium projects, including eight that are 100% owned and operated
by UEX, one joint venture with Orano Canada Inc. (“Orano”) and ALX
Uranium Corp. (“ALX”) that is 50.1% owned by UEX and is under
option to and operated by ALX, as well as eight joint ventures with
Orano, one joint venture with Orano and JCU (Canada) Exploration
Company Limited, which are operated by Orano, and one joint venture
(Christie Lake), that is 60% owned by UEX with JCU (Canada)
Exploration Company Limited which is operated by UEX.
The company is also involved in one
cobalt-nickel exploration project located in the Athabasca Basin of
northern Saskatchewan. The West Bear Project was formerly part of
UEX’s Hidden Bay Project and contains the West Bear Cobalt-Nickel
Deposit and the West Bear Uranium Deposit.
The nineteen projects are located in the
eastern, western and northern perimeters of the Athabasca Basin,
the world's richest uranium belt, which in 2017 accounted for
approximately 22% of the global primary uranium production. UEX is
currently advancing several uranium deposits in the Athabasca Basin
which include the Christie Lake Deposits, the Kianna, Anne, Colette
and 58B Deposits at its currently 49.1%-owned Shea Creek Project
(located 50 km north of Fission’s Triple R Deposit and Patterson
Lake South Project, and NexGen’s Arrow Deposit) the Horseshoe and
Raven Deposits located on its 100%-owned Horseshoe-Raven
Development Project and the West Bear Uranium Deposit located at
its 100%-owned West Bear Project.
FOR FURTHER INFORMATION PLEASE CONTACT
Roger LemaitrePresident & CEO(306)
979-3849
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