UEX tests Black Lake discovery

UEX (UEX-T) has begun a $2.7-million winter exploration campaign on its Black Lake uranium project in Saskatchewan’s Athabasca Basin. The program includes 15,000 metres worth of diamond drilling, and ground and airborne geophysical surveying.

The first of two drill rigs on the property will focus on step-out drilling around discovery hole BL-18. UEX intends to sink around 20 holes, 10 to 50 metres apart, for a total of 8,000 metres to determine the extent of the uranium mineralization

Last October, hole 18 encountered unconformity-type uranium mineralization in sandstones, immediately above the basement rocks of the Athabasca Basin. The hole cut 4.4 metres (from 310.5 metres below surface) grading 0.694% U3O8, including 3.3 metres of 0.848% U3O8 and 1.96% U3O8 over half a metre. Uranium mineralization occurs primarily as pitchblende stringers in the basal sandstone unit.

The hole was sunk 70 metres to the west of the Eastern conductor, where hole BL-11 yielded favourable alteration and anomalous boron concentration that were interpreted to increase toward the west. It was also designed to test whether the Eastern and Western conductors represent the edges of a single conductive unit.

Encouraged by the discovery hole, the Black Lake joint venture staked an additional 200 sq. km surrounding the property.

Meanwhile, a second rig will complete reconnaissance drilling along the 20-km conductive system to the southwest. Plans call for 7,000 metres worth of drilling in holes 200 to 1,000 metres apart.

Also underway is a program of moving-loop electromagnetic and gravity surveying aimed at defining new geological structures and conductors. UEX is also preparing for a deep-penetrating, airborne magnetic and electomagnetic (Megatem) survey over the entire property.

UEX is the operator and 70% owner of Black Lake; Cogema Resources holds the remainder.

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