UEX 2020 Exploration Programs to Commence at West Bear and Christie Lake

New Mineralized Structure Discovered at McClean South

SASKATOON, Saskatchewan, Jan. 20, 2020 (GLOBE NEWSWIRE) -- UEX Corporation (TSX:UEX) (“UEX” or the “Company”) is pleased to announce the commencement of its 2020 exploration programs at the West Bear and Christie Lake Properties, located in the Athabasca Basin of northern Saskatchewan.

West Bear Property

UEX Corporation is pleased to announce the West Bear 2020 winter exploration program will commence the first week of February and consist of approximately 1,900 m of diamond drilling in 15 holes.  The objective of the program is to find new satellite Co-Ni deposits on the West Bear Project along the northern rim of the highly prospective West Bear Dome.

The program will focus on the Umpherville Target Area located 2 km immediately north of the existing high-grade West Bear Co-Ni Deposit.  The Umpherville Target Area has several geological and structural similarities to the West Bear Co-Ni Deposit area.  Historical drilling in 1977 by Conwest Exploration encountered strong indicative hydrothermal alteration, strong radioactivity and an extensive area of geochemically anomalous nickel over 1 km in strike length that are all features considered favourable for the discovery of both cobalt-nickel deposits and uranium deposits.  Historical Conwest Hole ML-77-05 intersected 0.22% eU₃O₈ over a 5 ft core length at the unconformity and has yet to be successfully followed-up by drill holes.  Two attempts by Conwest to drill on-section and down-dip of hole ML-77-05 were unsuccessful when the drill holes were lost when they encountered wide intervals of intense structure and clay alteration.  The drill program will also test areas along strike to the northeast of the Umpherville area where historical anomalous cobalt and nickel has been intersected.

The Company is also updating our Technical Report to incorporate the results of the 2019 West Bear Property exploration program.  The Company completed 126 holes totaling 11,412.5 m during the 2019 winter drill program and the results from these holes were announced in the Company’s news releases dated February 7, March 18, April 1, April 15, April 30, and May 22, 2019 available at www.sedar.com or UEX’s website at www.uexcorp.com. 

Christie Lake Property

UEX will be commencing its 2020 exploration program at Christie Lake in mid-February.  Despite the discovery of new mineralization along the B Trend in hole CB-141 that averaged 1.17% eU₃O₈ over 1.9 m from 498.1 m to 499.6 m (see UEX News Release dated October 29, 2019), UEX will be focusing the majority of its efforts at Christie Lake in the Ōrora North Area in 2020.