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UEX Corp kicks off 2017 drill progam at Christie Lake

Wednesday, January 11, 2017 9:01
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UEX Corp (TSE:UEX) told investors its $3mln, 20 hole drill program for 2017 had started at the Christie Lake uranium project.

The group remains on track to complete its first NI-43-101 resource estimate for the Paul Bay and Ken Pen deposits by the second quarter of 2017.

The firm met all obligations under its option deal for the site and has increased its ownership to 30%.

Two drills have been set-up on their first targets, the company said.

The first will test the Shoreline and Otter Creek targets  along strike and northeast of the Ken Pen Deposits, and which cover highly prospective segments of the Yalowega Trend.

Sparse historical drilling in the 1990′s encountered uranium mineralization, but the area has yet to be followed up by drilling using modern exploration models and techniques, the group said.

Meanwhile, the second drill will focus on continuing to grow uranium resources in the Paul Bay and Ken Pen areas.

UEX has so far made a total of $4 million on the property and conducted around $3.9 million in exploration activities.

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