UEX Corp (UEX) - Technical Analysis & Due Diligence

UEX Corporation has made significant advancements in the discovery and development of existing and new uranium and cobalt deposits in the Athabasca Basin. The company has four flagship projects.

The West Bear Cobalt-Nickel project is a shallow, open-pit amenable and very high-grade cobalt-nickel deposit in the eastern Athabasca Basin that remains open in all directions for expansion.  It ranges from 15 – 55 m in vertical depth and is hosted in clay-altered rocks that extend into the basement below the unconformity.  

The Christie Lake property in the eastern Athabasca Basin is located only 9 km northeast and along strike of the McArthur River Mine, the world's largest uranium mine. The property is host to significant historical uranium resources within three known deposits, including the newly discovered Ōrora Zone, located along the under-explored mineralized 1.5 km long Yalowega Trend. UEX currently holds a 65.55% interest in the project in a joint venture with JCU (Canada) Exploration Company Limited.

The Horseshoe and Raven Deposits located in the eastern Athabasca Basin are in close proximity to existing mining infrastructure, roads, and power. UEX is currently evaluating the use of heap leach recovery to improve the economics of these very shallow conventional open pit and underground amenable deposits.

The Shea Creek property is host to one of the largest undeveloped uranium resources in the Athabasca Basin. The Shea Creek Deposits remain open for expansion and were the first of the new wave of discoveries in the newly emerging Western Athabasca Uranium Camp.