Since the company’s formation in 2002, UEX Corporation has made significant advancements in the discovery and development of existing and new uranium deposits in the Athabasca Basin. UEX maintains strategic relationships with both Cameco Corporation and AREVA group, the world’s largest uranium companies. The company has three flagship projects.
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 two known deposits that themselves are located along a substantially under-explored mineralized trend that is approximately 1.5 km long. UEX has an option to earn up to a 70% interest in the project from JCU (Canada) Exploration Company, Limited, and currently holds 30% interest in the project.
The Hidden Bay property in the eastern Athabasca Basin is in close proximity to existing mining infrastructure currently in production for Cameco Corporation. As UEX’s known deposits at Hidden Bay move toward pre-feasibility stage, the prospect for cost savings through toll milling is being explored.
The Shea Creek property is host to one of the largest undeveloped uranium resources in the Athabasca Basin. The known deposits at Shea Creek show three styles of mineralization: unconformity-hosted, basement-hosted, and perched. This is highly uncommon for any single deposit and drill results are showing connection between at least two of the deposits at the unconformity level. This linking is significant for the potential expansion of the available mineral resources and for economic extraction with less waste material.