UEX drills 2.5 m of over 15,000 cps at Christie

UEX Corporation (TSE:UEX) said on Monday the first drill hole of the 2017 exploration program at the Christie Lake project has encountered a new high-grade zone of unconformity-style uranium mineralization which was way off the dial.

The find was along the Yalowega mineralized trend, 500 metres northeast and along strike of the known deposits.

Hole CB-109 intersected a 7.8-metre-long (from 475.65 to 483.45 m) mineralized segment with three sections of off-scale massive uranium mineralization exceeding the maximum possible measurement from a hand-held SPP2-NF Series 20 scintillometer.

“I congratulate our team on their new discovery and look forward to watching them expand this zone into another deposit,” said Roger Lemaitre, president and chief executive officer.

Radiation was measured in counts per second (cps) using an SPP2-NF Series 20 gamma scintillometer, which can read up to 15,000 cps. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured and should only be used as a preliminary indication of the presence of radioactive materials.

The presence of extensive solid uranium mineralization prevented radiometric equivalent grades  from being precisely calculated, as these probes cannot be calibrated to accurately determine uranium concentrations exceeding 20% triuranium octoxide equivalent (eU3O8). Actual grades remain subject to confirmation by assay, the company said in a statement.

Samples have been collected for assay analysis to confirm these scintillometer results. The samples will be analyzed at the geoanalytical laboratory at the Saskatchewan Research Council in Saskatoon, Sask.

UEX currently holds a 30% interest in the Christie Lake project and is working under an option agreement to earn up to a 70% interest. The project is located approximately nine kilometres northeast and along strike of Cameco‘s McArthur River mine, the world’s largest uranium producer.

Story by ProactiveInvestors