UEX Corporation Announces Completion of Its 2022 Winter Exploration Programs for the Christie Lake and Hidden Bay Projects Located in the Athabasca Basin of Northern Saskatchewan
with the uranium mineralization, suggesting that a viable pathway is present to move uraniferous hydrothermal fluids into the basement environment below the known deposits in this area. UEX considers CB-164 to be an encouraging result that will require follow-up by testing during the summer drill programs. Two other holes, CB-160 and CB-162 drilled to test the basement rocks between the Paul Bay and Ken Pen Deposits, also encountered a permissive fault structure with associated hydrothermal alteration that extends below the existing uranium deposits. Further drill tests are planned for the area this summer. Two drill holes tested the DC Resistivity low adjacent to the B Conductor Trend. Drill hole CB-163 encountered
elevated radioactivity in the sandstone column approximately 180 m above the unconformity coincident with fracture controlled sooty grey alteration and secondary hematite alteration. This radioactive interval averaged 0.03% eU3O8 over 0.3 m from 298.6 to 298.9 m. It is uncommon to encounter elevated radioactivity so high up in the sandstone. This type of occurrence in the Athabasca Basin is often associated with more intense mineralization at the unconformity or below into the basement. These early test results from the DC Resistivity Low represent an exploration vector towards both the east and west towards the adjacent A & B Conductor trends. Follow-up in drilling near CB-163 along the A and B trends represent high priority drill targets for the Christie Lake summer drill program. Hole CB-164, UEX's initial test of the A Conductor, encountered alteration of the basement rocks that overprinted the regional background paleoweathering. The bleaching of the basement rocks persists to 528 m, more than 70 m into the basement rocks. As an initial prospectivity evaluation of an area, this is a success and indicates that the entire 3 km strike length of the A-Trend is prospective and warrants further evaluation. All drill core samples from the winter program at Christie Lake have been shipped to the SRC Geoanalytical Laboratory for geochemical analysis.