UEX Corporation (TSE:UEX) president and chief executive Roger Lemaitre said he was very happy with the firm’s progress in 2016 and is looking forward to producing a new NI 43-101 estimate in 2017.
It comes after the group posted results from first holes at its Ken Pen uranium deposit – the second of two known deposits located along the Yalowega trend on the Christie Lake project.
The results were exciting, he said, because the Ken Pen deposit is much larger than previously thought and still open -ended in “pretty much every” direction, showing the potential for expansion.
The year has seen an ultra high grade zone discovered at the neighbouring Paul Bay deposit and the doubling of potential along the mineralised trend that the Ken Pen deposit sits on, he said.
The firm is confident a new NI43-101 resource estimate for Paul Bay and Ken Pen earmarked for the second quarter of 2017 will show growth, he said.
Story by ProactiveInvestors