Attention Business Editors:
UEX Reports Best Hole Ever from West Bear Deposit: Hole UEX-206 Intersects High-Grade Mineralization Grading 6.03% U(3)O(8) over 10.67 metres, Including 25.22% U(3)O(8) over 1.76 metres; 2007 Winter Sonic Drilling Program Extends Uranium Mineralization to the East; New N.I. 43-101 Compliant Resource Estimate Underway
Trading Symbol: UEX-TSX
VANCOUVER, July 23 /CNW/ - UEX Corporation ("UEX") is pleased to announce
the results from 113 holes totaling 3,386 metres completed during the 2007
winter sonic drilling program on the West Bear Uranium Deposit ("West Bear"),
located within UEX's 100%-owned Hidden Bay Project in the eastern Athabasca
Basin area of northern Saskatchewan, Canada. The results include an
intersection in hole UEX-206 grading 6.03% U(3)O(8) over 10.67 metres,
including 25.22% U(3)O(8) over 1.76 metres, representing the best intercept to
date in the deposit, where mineralization occurs at a vertical depth of
between 10 and 31 metres from surface. This intercept is located in the core
area of the deposit where infill drilling was carried out to better define and
confirm continuity of uranium grades.
The main objectives of the 2007 winter sonic drilling program were to
test the eastern deposit area for uranium mineralization and better define the
deposit geometry and uranium grades in the high-grade core of the main deposit
area. The 2007 winter sonic drilling program, when integrated with
previously-reported holes from 2005, has now defined the West Bear Deposit
over a strike length of 500 metres on drill fences spaced 25 metres apart with
holes spaced at 5 metre intervals. In the high-grade core area of the deposit,
between Lines 17+50E and 18+50E, holes spaced at 5 metre intervals have now
been drilled on fences spaced at 12.5 metre intervals. UEX is extremely
encouraged by the number of 2007 sonic drill holes that have extended the
uranium mineralization to the east by 150 metres and confirmed the continuity
of uranium grades in the high-grade core of the main deposit area.
The National Instrument 43-101 ("N.I. 43-101") compliant indicated
resource estimate prepared by Cameco Corporation ("Cameco"), which was based
on UEX's 2005 sonic drilling program, outlined an indicated resource of
45,600�tonnes, grading 1.385% U(3)O(8) and totaling 1.391 million pounds
U(3)O(8) at West Bear. The West Bear resource estimate technical report dated
March 2, 2006 is available for review at www.sedar.com
A new N.I. 43-101 compliant resource estimate, incorporating the results
from the 2007 winter sonic drilling program, is presently being calculated by
Golder Associates Ltd. ("Golder") of Saskatoon, SK and should be delivered to
UEX by September 2007. (Note: Due to the dramatic increase in the spot price
of uranium since Cameco's 2005 resource calculation, Golder will use a lower
cut-off grade of 0.05% U(3)O(8) in its new compliant resource estimate for
West Bear compared to the 0.15% U(3)O(8) cut-off grade used by Cameco.)
"We are pleased with the results of the winter drilling program at West
Bear," said Stephen Sorensen, President and CEO of UEX. Sorensen went on to
say, "we expect the resource at West Bear should increase because of the
several new high-grade intercepts encountered within the main deposit area,
combined with the extension of new mineralization to the east, and the use of
a lower cut-off grade by Golder in the final resource calculation."
2007 Winter Sonic Drilling Program
The 2005 West Bear resource estimate report by Cameco notes that only
two-thirds of the strike length of the mineralized area included as part of a
historical resource outlined by Gulf Minerals ("Gulf") was tested during the
2005 sonic drilling program. A number of historical Gulf holes indicate that
uranium mineralization likely extends to the east up to 150 metres beyond the
current boundaries of the deposit.
One of the goals of the 2007 winter sonic drilling program was to test
the eastern deposit area for uranium mineralization not previously drilled.
The 2007 program extended the uranium mineralization 150 metres east of the
boundary outlined during the 2005 sonic drilling program. This new uranium
mineralization forms a narrow continuous lens straddling the unconformity in
the northern section of the eastern deposit area. This mineralization contains
uranium values of up to 0.360% U(3)O(8) over 2.0 metres in hole UEX-116 (see
accompanying Section 2075E on UEX's website) and 0.670% U(3)O(8) over
3.05�metres in hole UEX-120 (see accompanying Section 2025E on UEX's website).
To view maps from the 2007 winter exploration program at West Bear, please
access UEX's website at www.uex-corporation.com under "Latest Updates".
A small secondary lens of uranium mineralization not previously
identified by Gulf Minerals was also discovered in the southern section of the
eastern deposit area. This southern lens of mineralization extends over a
strike length of over 75 metres and contains uranium values of up 0.421%
U(3)O(8) over 2.55 metres in hole UEX-172 (see accompanying Section 2025E on
UEX's website).
The results of holes UEX-102 to UEX-184 drilled within the eastern
deposit area are presented below in Tables 1, 2 and 3. Significant results
from these holes include the following mineralized intersections, which occur
between 10 and 31 metres depth:
- 0.157% U(3)O(8) over 0.70 metres in hole UEX-102 (section 2050E)
- 0.134% U(3)O(8) over 1.39 metres in hole UEX-103 (section 2050E)
- 0.720% U(3)O(8) over 0.76 metres in hole UEX-107 (section 2050E)
- 0.135% U(3)O(8) over 1.50 metres in hole UEX-108 (section 2050E)
- 0.150% U(3)O(8) over 0.50 metres in hole UEX-109 (section 2050E)
- 0.105% U(3)O(8) over 1.26 metres in hole UEX-111 (section 2050E)
- 0.195% U(3)O(8) over 0.50 metres in hole UEX-112 (section 2075E)
- 0.107% U(3)O(8) over 0.50 metres in hole UEX-113 (section 2075E)
- 0.206% U(3)O(8) over 0.69 metres in hole UEX-114 (section 2075E)
- 0.503% U(3)O(8) over 1.00 metres in hole UEX-115 (section 2075E)
- 0.360% U(3)O(8) over 2.00 metres in hole UEX-116 (section 2075E)
- 0.670% U(3)O(8) over 3.05 metres in hole UEX-120 (section 2025E)
- 0.166% U(3)O(8) over 0.50 metres in hole UEX-120 (section 2025E)
- 0.173% U(3)O(8) over 0.60 metres in hole UEX-121 (section 2025E)
- 0.139% U(3)O(8) over 0.66 metres in hole UEX-132 (section 2075E)
- 0.144% U(3)O(8) over 0.60 metres in hole UEX-135 (section 2050E)
- 0.389% U(3)O(8) over 0.60 metres in hole UEX-148 (section 2000E)
- 0.295% U(3)O(8) over 1.34 metres in hole UEX-148 (section 2000E)
- 0.126% U(3)O(8) over 2.40 metres in hole UEX-157 (section 1975E)
- 0.139% U(3)O(8) over 0.85 metres in hole UEX-162 (section 1950E)
- 0.173% U(3)O(8) over 0.50 metres in hole UEX-163 (section 1950E)
- 0.329% U(3)O(8) over 1.04 metres in hole UEX-164 (section 1950E)
- 0.421% U(3)O(8) over 2.55 metres in hole UEX-172 (section 2025E)
including 1.146% U(3)O(8) over 0.86 metres
- 0.329% U(3)O(8) over 0.91 metres in hole UEX-176 (section 2000E)
- 0.283% U(3)O(8) over 0.50 metres in hole UEX-181 (section 2000E)
In addition, infill drilling on two sections (1762.5E and 1787.5E) was
carried out in the high-grade core of the main deposit area between sections
1750E, 1775E and 1800E drilled by Cameco in 2005 in order to better define the
ore body geometry and uranium grades in this main deposit area. Uranium grades
in this high-grade core area were increased, with up to 6.032% U(3)O(8) over
10.67 metres in hole UEX-206 (see accompanying Section 1762.5E on UEX's
website) and 2.341% U(3)O(8) over 7.08 metres in hole UEX-197 (see
accompanying Section 1787.5E on UEX's website). Some of the most significant
intercepts, which occur between 10 and 31 metres depth, include the following:
- 2.341% U(3)O(8) over 7.08 metres in hole UEX-197 (section 1787.5E)
including 6.073% U(3)O(8) over 2.57 metres
- 0.219% U(3)O(8) over 2.19 metres in hole UEX-197 (section 1787.5E)
- 1.275% U(3)O(8) over 9.20 metres in hole UEX-198 (section 1787.5E)
including 2.851% U(3)O(8) over 2.52 metres
- 1.185% U(3)O(8) over 10.15 metres in hole UEX-199 (section 1787.5E)
including 2.687% U(3)O(8) over 2.81 metres
- 0.842% U(3)O(8) over 8.80 metres in hole UEX-200 (section 1787.5E)
including 1.242% U(3)O(8) over 5.15 metres
- 0.119% U(3)O(8) over 2.95 metres in hole UEX-201 (section 1787.5E)
- 0.786% U(3)O(8) over 7.49 metres in hole UEX-205 (section 1762.5E)
including 1.697% U(3)O(8) over 2.93 metres
- 6.032% U(3)O(8) over 10.67 metres in hole UEX-206 (section 1762.5E)
including 18.288% U(3)O(8) over 2.70 metres
including 25.221% U(3)O(8) over 1.76 metres
- 4.040% U(3)O(8) over 11.41 metres in hole UEX-207 (section 1762.5E)
including 5.969% U(3)O(8) over 7.60 metres
- 1.254% U(3)O(8) over 11.38 metres in hole UEX-208 (section 1762.5E)
including 1.648% U(3)O(8) over 7.96 metres
- 0.534% U(3)O(8) over 4.80 metres in hole UEX-209 (section 1762.5E)
including 1.163% U(3)O(8) over 1.00 metres
- 0.348% U(3)O(8) over 2.14 metres in hole UEX-210 (section 1762.5E)
- 0.186% U(3)O(8) over 3.38 metres in hole UEX-211 (section 1762.5E)
including 0.449% U(3)O(8) over 0.73 metres
Full results are shown in Table 1 below. Only intervals with grades
greater than 0.05% U(3)O(8) and a grade-thickness product of greater than 0.05
are listed in Table 1.
2007 West Bear Resource Estimate Report and Metallurgical Testing
Golder has been engaged to calculate a new N.I. 43-101 compliant resource
estimate for West Bear by incorporating the drilling results from 2007.
Golder's resource estimate is expected to be delivered to UEX by September
2007.
Melis Engineering Ltd. of Saskatoon, SK is currently overseeing a
confirmation metallurgical testing program using representative composites
derived from fresh drill core samples collected from the 2007 sonic drilling
program. The composites are currently being processed at SGS Lakefield
Research Ltd. of Lakefield, ON to confirm leach and effluent treatment
conditions on fresh samples of core.
West Bear Environmental Baseline and Feasibility Studies
Golder is carrying out an environmental baseline study ("EBS") and a
feasibility study for West Bear. The EBS has been underway at West Bear since
August 2005 and Golder continues to collect biological, hydrogeological and
other environmental data. Further baseline studies are scheduled for 2007
following the input of more detailed information on the project design
generated from the West Bear feasibility study.
UEX looks forward to the completion of the feasibility study, which is
expected to be delivered in March 2008, following Golder's integration of the
results from UEX's 2007 sonic drilling program. The feasibility study will
examine the most efficient methods and procedures for extracting the defined
uranium resource, including the most appropriate road access and support
infrastructure, mining methods and operating plans. Golder is currently
carrying out mine, open pit slope, and waste dump design work. As the
feasibility study progresses, Golder will supervise the tendering of contracts
for all aspects of a potential mining operation, and will perform cash flow
analyses and projections in order to determine net present values and internal
rates of return for West Bear at various uranium price levels.
Golder and UEX have created a Strategic Planning Group, consisting of key
representatives from both companies, in order to commence the permitting
process for West Bear in the Third Quarter of 2007. Following receipt of the
final EBS report from Golder, UEX plans to initiate the environmental
assessment ("EA") process with the appropriate government agencies on both
provincial and federal levels. The first step in the provincial EA process is
to provide a Project Proposal to the Saskatchewan EA Branch that details the
project description (e.g., mine plan, mining method, water and waste
management), current environmental conditions, proposed measures to mitigate
environmental issues, and residual effects from the project. After review of
this document, the EA Branch will decide if the project meets the definition
of a "development", in which case, an Environmental Impact Statement ("EIS")
will be required and various provincial and federal responsible authorities
will be identified to take part in the review of the EIS. The Strategic
Planning Group will also initiate the community and public consultation
process in 2007.
About West Bear
West Bear uranium mineralization occurs at a vertical depth of between 10
and 31 metres (or approximately 33 to 100 feet) from surface and is one of the
shallowest, undeveloped uranium deposits in the prolific Athabasca Basin.
Combined with the relatively soft nature of the host rocks and overburden, UEX
believes that the deposit could be mined using low cost, open pit techniques
within a very short timeframe. The deposit is located close to two existing
uranium mills, Cameco Corporation's Rabbit Lake Mill and the McClean Lake
Mill, operated by AREVA Resources Canada Inc. ("AREVA"). UEX believes that at
current uranium prices, the West Bear Deposit could become a viable source of
future cash flow.
Sample Handling and Quality Assurance
Geochemical samples are selected with the aid of hand-held scintillometer
to identify areas of above-background radioactivity. Samples are split, with
half remaining in the core box, and the remainder shipped to Saskatchewan
Research Council ("SRC") Geoanalytical Laboratories where they are crushed and
ground to minus 106 microns. The pulp is digested in aqua regia leach and
analyzed by ICP for uranium and other elements. Check samples have been
submitted to SRC's Analytical Laboratory (a separate facility) for uranium
analysis using the delayed neutron activation technique to confirm the
accuracy of the original analysis. In addition to the geochemical analyses,
down-hole probe radiometric results, obtained for all sonic drill holes on
completion of drilling, provide an independent check of the geochemical data.
Probe results can be used for uranium grade calculations where poor ground
conditions occur and core recoveries are low, although the sonic drilling
method at West Bear produced core recoveries at, or close to, 100%.
The core lengths of the individual mineralized intersections are believed
to be indicative of the true thicknesses of the mineralized zones, as the
deposit is flat lying, and in the shape of a ribbon. All sonic drill holes
were drilled at -90 degrees (vertical).
The information in this document has been compiled and reviewed by Sierd
Eriks, P. Geo., a qualified person as defined by National Instrument 43-101.
About UEX
UEX is a Canadian uranium exploration and development company actively
involved in 19 uranium projects, including seven that are 100% owned and
operated by UEX, one joint venture with AREVA that is operated by UEX, ten
under option from AREVA and one under option from Japan-Canada Uranium
Company, Limited, which are operated by AREVA. The 19 projects, totaling
386,650 hectares (955,400 acres), are located in the eastern, western and
northern perimeters of the Athabasca Basin, the world's richest uranium belt,
which accounts for approximately 30% of the global primary uranium production.
UEX is currently developing several uranium deposits in the Athabasca Basin
which include the Anne and Kianna Deposits at its Shea Creek Uranium Project,
a joint venture with AREVA in the Western Athabasca Basin, and the West Bear,
Raven and Horseshoe deposits located at its 100% owned Hidden Bay Project in
the eastern Athabasca Basin. UEX's exploration and development budgets for
2007 total $28.0 million, and the Company has a cash position of approximately
$67.0 million.
ON BEHALF OF THE BOARD OF DIRECTORS OF UEX CORPORATION
Stephen H. Sorensen,
President & C.E.O.
Forward-Looking Statements
This news release contains "forward-looking statements" that are based on
UEX's current expectations, estimates, forecasts and projections. These
forward-looking statements include statements regarding UEX's outlook for our
future operations, plans and timing for the commencement or advancement of
exploration activities on our properties, and other expectations, intention
and plans that are not historical fact. The words "estimates", "projects",
"expects", "intends", "believes", "plans", or their negatives or other
comparable words and phrases are intended to identify forward-looking
statements. Such forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from future results expressed or implied by such forward-looking
statements. Many of these factors are beyond the control of UEX. Consequently,
all forward-looking statements made in this news release are qualified by this
cautionary statement and there can be no assurance that actual results or
developments anticipated by UEX will be realized. For the reasons set forth
above, investors should not place undue reliance on such forward-looking
statements. UEX disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.
Table 1.
West Bear Deposit - 2007 Winter Sonic Drilling Program
Mineralized Intersections from Drill Holes UEX-102 to UEX-214
Only intervals with composite grades greater than 0.05% U(3)O(8) and
a grade-thickness product greater than 0.05 are listed below. All
analyses were performed by SRC by ICP.
-------------------------------------------------------------------------
Grade-
Thick-
Hole West Bear Grid Hole From To Length U3O8 ness
Coordinates Length (m) (m) (m) (wt%) Product
(m) (m%U3O8)
East- North- Eleva-
ing ing tion
-------------------------------------------------------------------------
UEX-102 2050.0 1495.0 410.5 35.05 19.10 19.80 0.70 0.157 0.110
-------------------------------------------------------------------------
UEX-103 2050.0 1490.0 410.5 32.00 19.81 21.20 1.39 0.134 0.186
-------------------------------------------------------------------------
UEX-104 2050.0 1485.0 410.5 32.00 22.04 22.86 0.82 0.066 0.054
-------------------------------------------------------------------------
UEX-105 2050.0 1480.0 410.5 32.00 22.86 24.38 1.52 0.054 0.083
-------------------------------------------------------------------------
UEX-106 2050.0 1475.0 410.5 32.00 21.83 23.86 2.03 0.049 0.099
includ-
ing 21.83 22.86 1.03 0.058 0.060
-------------------------------------------------------------------------
UEX-107 2050.0 1470.0 410.5 35.05 22.10 22.86 0.76 0.720 0.547
-------------------------------------------------------------------------
UEX-108 2050.0 1465.0 410.5 32.00 21.51 23.01 1.50 0.135 0.202
-------------------------------------------------------------------------
UEX-109 2050.0 1460.0 410.6 33.53 24.38 24.88 0.50 0.150 0.075
-------------------------------------------------------------------------
UEX-111 2050.0 1450.0 410.6 28.96 22.86 24.12 1.26 0.105 0.132
-------------------------------------------------------------------------
UEX-112 2075.0 1505.0 410.5 32.00 25.38 25.88 0.50 0.195 0.097
-------------------------------------------------------------------------
UEX-113 2075.0 1500.0 410.5 30.48 16.67 18.17 1.50 0.074 0.111
19.67 20.17 0.50 0.107 0.054
-------------------------------------------------------------------------
UEX-114 2075.0 1495.0 410.5 32.00 19.81 20.50 0.69 0.206 0.142
-------------------------------------------------------------------------
UEX-115 2075.0 1490.0 410.5 33.53 19.81 20.81 1.00 0.503 0.503
-------------------------------------------------------------------------
UEX-116 2075.0 1485.0 410.5 32.00 23.25 25.25 2.00 0.360 0.720
-------------------------------------------------------------------------
UEX-120 2025.0 1495.0 410.6 32.00 16.76 19.81 3.05 0.670 2.043
24.36 24.86 0.50 0.166 0.083
-------------------------------------------------------------------------
UEX-121 2025.0 1490.0 410.6 32.00 24.95 25.55 0.60 0.173 0.104
-------------------------------------------------------------------------
UEX-129 2100.0 1505.0 410.4 35.05 24.38 25.95 1.57 0.078 0.123
-------------------------------------------------------------------------
UEX-132 2075.0 1510.0 410.6 28.96 22.20 22.86 0.66 0.139 0.092
23.27 24.17 0.90 0.083 0.075
-------------------------------------------------------------------------
UEX-135 2050.0 1500.0 410.5 28.96 18.02 18.65 0.63 0.062 0.039
19.95 20.55 0.60 0.144 0.086
-------------------------------------------------------------------------
UEX-137 2050.0 1510.0 410.4 32.00 19.81 20.40 0.59 0.097 0.057
22.86 24.35 1.49 0.081 0.121
-------------------------------------------------------------------------
UEX-148 2000.0 1495.0 410.6 28.96 16.76 17.36 0.60 0.389 0.233
17.86 19.20 1.34 0.295 0.396
-------------------------------------------------------------------------
UEX-153 1975.0 1485.0 410.6 28.96 20.19 20.59 0.40 0.066 0.026
21.34 22.34 1.00 0.070 0.070
-------------------------------------------------------------------------
UEX-157 1975.0 1505.0 410.6 35.05 23.25 25.65 2.40 0.126 0.303
-------------------------------------------------------------------------
UEX-162 1950.0 1490.0 410.6 28.96 21.34 22.19 0.85 0.139 0.118
-------------------------------------------------------------------------
UEX-163 1950.0 1485.0 410.6 28.96 23.50 24.00 0.50 0.173 0.087
-------------------------------------------------------------------------
UEX-164 1950.0 1480.0 410.6 28.96 21.82 22.86 1.04 0.329 0.342
-------------------------------------------------------------------------
UEX-172 2025.0 1460.0 410.6 30.48 20.31 22.86 2.55 0.421 1.073
includ-
ing 20.31 21.15 0.84 0.063 0.053
includ-
ing 22.00 22.86 0.86 1.146 0.985
-------------------------------------------------------------------------
UEX-176 2000.0 1440.0 410.7 33.53 28.05 28.96 0.91 0.329 0.300
-------------------------------------------------------------------------
UEX-181 2000.0 1465.0 410.6 32.00 24.10 24.60 0.50 0.283 0.141
-------------------------------------------------------------------------
UEX-187 1900.0 1495.0 410.7 30.48 17.60 26.05 8.45 0.090 0.757
includ-
ing 17.60 21.86 4.26 0.079 0.337
includ-
ing 22.86 23.80 0.94 0.093 0.087
includ-
ing 24.90 26.05 1.15 0.236 0.272
-------------------------------------------------------------------------
UEX-197 1787.5 1515.0 411.3 32.00 17.80 24.88 7.08 2.341 16.571
includ-
ing 18.29 20.86 2.57 6.073 15.609
28.96 31.15 2.19 0.219 0.480
-------------------------------------------------------------------------
UEX-198 1787.5 1510.0 411.4 30.48 13.25 22.45 9.20 1.275 11.734
includ-
ing 16.76 19.28 2.52 2.851 7.185
-------------------------------------------------------------------------
UEX-199 1787.5 1505.0 411.4 30.48 12.45 22.60 10.15 1.185 12.031
includ-
ing 17.50 20.31 2.81 2.688 7.553
-------------------------------------------------------------------------
UEX-200 1787.5 1500.0 411.5 30.48 14.00 22.80 8.80 0.842 7.409
includ-
ing 15.45 20.60 5.150 1.242 6.396
-------------------------------------------------------------------------
UEX-201 1787.5 1495.0 411.9 25.91 20.00 22.95 2.95 0.119 0.351
-------------------------------------------------------------------------
UEX-202 1787.5 1490.0 412.0 25.91 18.61 23.50 4.890 0.059 0.290
-------------------------------------------------------------------------
UEX-205 1762.5 1510.0 411.7 30.48 18.29 25.78 7.49 0.786 5.889
includ-
ing 21.07 24.00 2.93 1.697 4.971
-------------------------------------------------------------------------
UEX-206 1762.5 1505.0 411.6 33.53 16.76 27.43 10.67 6.032 64.365
Includ-
ing 21.10 23.80 2.70 18.288 49.378
includ-
ing 21.10 22.86 1.76 25.221 44.389
-------------------------------------------------------------------------
UEX-207 1762.5 1500.0 411.6 30.48 14.50 25.91 11.41 4.040 46.097
includ-
ing 16.40 24.00 7.60 5.969 45.361
29.50 30.48 0.98 0.366 0.359
-------------------------------------------------------------------------
UEX-208 1762.5 1495.0 411.6 32.00 10.67 12.00 1.33 0.323 0.430
13.72 25.10 11.38 1.254 14.269
includ-
ing 14.90 22.86 7.960 1.648 13.115
-------------------------------------------------------------------------
UEX-209 1762.5 1490.0 411.5 28.96 17.65 22.45 4.80 0.534 2.563
includ-
ing 20.95 21.95 1.000 1.163 1.162
-------------------------------------------------------------------------
UEX-210 1762.5 1485.0 411.5 28.96 22.86 25.00 2.14 0.348 0.746
-------------------------------------------------------------------------
UEX-211 1762.5 1480.0 411.5 27.43 22.53 25.91 3.380 0.186 0.628
includ-
ing 25.18 25.91 0.73 0.449 0.328
-------------------------------------------------------------------------
UEX-214 2125.0 1510.0 410.3 32.00 20.30 20.80 0.50 0.130 0.065
-------------------------------------------------------------------------
Table 2.
West Bear Deposit - 2007 Winter Sonic Drilling Program
Mineralized Intersections from Drill Holes UEX-102 to UEX-214
Only intervals with composite grades lower than 0.05% U(3)O(8) and
a grade-thickness product lower than 0.05 are listed below. All
analyses were performed by SRC by ICP.
-------------------------------------------------------------------------
Grade-
Thick-
Hole West Bear Grid Hole From To Length U3O8 ness
Coordinates Length (m) (m) (m) (wt%) Product
(m) (m%U3O8)
East- North- Eleva-
ing ing tion
-------------------------------------------------------------------------
UEX-118 2075.0 1475.0 410.6 35.05 30.11 30.48 0.37 0.076 0.028
-------------------------------------------------------------------------
UEX-128 2100.0 1510.0 410.5 35.05 23.86 24.38 0.52 0.077 0.040
24.93 25.03 0.10 0.090 0.009
-------------------------------------------------------------------------
UEX-136 2050.0 1505.0 410.5 36.58 22.90 23.10 0.20 0.237 0.047
27.60 28.10 0.50 0.056 0.028
-------------------------------------------------------------------------
UEX-147 2000.0 1500.0 410.6 28.96 16.76 17.29 0.53 0.061 0.032
-------------------------------------------------------------------------
UEX-149 2000.0 1490.0 410.6 27.43 19.47 19.81 0.34 0.053 0.018
-------------------------------------------------------------------------
UEX-160 1950.0 1500.0 410.7 28.96 23.94 24.44 0.50 0.066 0.033
-------------------------------------------------------------------------
UEX-166 1950.0 1470.0 410.6 28.96 23.63 24.00 0.37 0.087 0.032
-------------------------------------------------------------------------
Table 3.
West Bear Deposit - 2007 Winter Sonic Drilling Program
Unmineralized Holes from Drill Holes UEX-102 to UEX-214
---------------------------------------------------------
Hole West Bear Grid Coordinates Hole
Length
(m)
-------- --------
Easting Northing Elevation
---------------------------------------------------------
UEX-110 2050.0 1455.0 410.6 30.48
---------------------------------------------------------
UEX-117 2075.0 1480.0 410.5 32.00
---------------------------------------------------------
UEX-119 2075.0 1470.0 410.6 32.00
---------------------------------------------------------
UEX-122 2025.0 1485.0 410.5 32.00
---------------------------------------------------------
UEX-123 2025.0 1480.0 410.6 32.00
---------------------------------------------------------
UEX-124 2025.0 1475.0 410.5 32.00
---------------------------------------------------------
UEX-125 2100.0 1525.0 410.5 35.05
---------------------------------------------------------
UEX-126 2100.0 1520.0 410.5 35.05
---------------------------------------------------------
UEX-127 2100.0 1515.0 410.5 32.00
---------------------------------------------------------
UEX-130 2100.0 1500.0 410.6 28.96
---------------------------------------------------------
UEX-131 2100.0 1495.0 410.6 28.96
---------------------------------------------------------
UEX-133 2075.0 1515.0 410.5 28.96
---------------------------------------------------------
UEX-134 2075.0 1520.0 410.5 28.96
---------------------------------------------------------
UEX-138 2050.0 1515.0 410.5 28.96
---------------------------------------------------------
UEX-139 2050.0 1520.0 410.5 28.96
---------------------------------------------------------
UEX-140 2025.0 1500.0 410.5 28.96
---------------------------------------------------------
UEX-141 2025.0 1505.0 410.5 28.96
---------------------------------------------------------
UEX-142 2025.0 1510.0 410.6 28.96
---------------------------------------------------------
UEX-143 2025.0 1515.0 410.6 28.96
---------------------------------------------------------
UEX-144 2000.0 1515.0 410.5 28.96
---------------------------------------------------------
UEX-145 2000.0 1510.0 410.5 28.96
---------------------------------------------------------
UEX-146 2000.0 1505.0 410.5 28.96
---------------------------------------------------------
UEX-150 2000.0 1485.0 410.6 25.91
---------------------------------------------------------
UEX-151 2000.0 1480.0 410.6 27.43
---------------------------------------------------------
UEX-152 1975.0 1480.0 410.6 27.43
---------------------------------------------------------
UEX-154 1975.0 1490.0 410.6 25.91
---------------------------------------------------------
UEX-155 1975.0 1495.0 410.6 25.91
---------------------------------------------------------
UEX-156 1975.0 1500.0 410.6 28.96
---------------------------------------------------------
UEX-158 1975.0 1510.0 410.6 28.96
---------------------------------------------------------
UEX-159 1975.0 1515.0 410.5 25.91
---------------------------------------------------------
UEX-161 1950.0 1495.0 410.6 25.91
---------------------------------------------------------
UEX-165 1950.0 1475.0 410.6 28.96
---------------------------------------------------------
UEX-167 1950.0 1465.0 410.6 28.96
---------------------------------------------------------
UEX-168 1950.0 1460.0 410.6 25.91
---------------------------------------------------------
UEX-169 2050.0 1445.0 410.7 30.48
---------------------------------------------------------
UEX-170 2050.0 1440.0 410.6 28.96
---------------------------------------------------------
UEX-171 2025.0 1455.0 410.6 28.96
---------------------------------------------------------
UEX-173 2025.0 1465.0 410.6 28.96
---------------------------------------------------------
UEX-174 2025.0 1470.0 410.6 28.96
---------------------------------------------------------
UEX-175 2025.0 1450.0 410.6 28.96
---------------------------------------------------------
UEX-177 2000.0 1445.0 410.6 30.48
---------------------------------------------------------
UEX-178 2000.0 1450.0 410.6 30.48
---------------------------------------------------------
UEX-179 2000.0 1455.0 410.6 28.96
---------------------------------------------------------
UEX-180 2000.0 1460.0 410.6 28.96
---------------------------------------------------------
UEX-182 2000.0 1470.0 410.6 28.96
---------------------------------------------------------
UEX-183 2000.0 1475.0 410.6 27.43
---------------------------------------------------------
UEX-184 2000.0 1435.0 410.7 28.96
---------------------------------------------------------
UEX-185 1925.0 1490.0 410.6 28.96
---------------------------------------------------------
UEX-186 1925.0 1485.0 410.6 27.43
---------------------------------------------------------
UEX-188 1875.0 1530.0 410.8 27.43
---------------------------------------------------------
UEX-189 1875.0 1535.0 410.7 27.43
---------------------------------------------------------
UEX-190 1837.5 1530.0 410.9 25.91
---------------------------------------------------------
UEX-191 1837.5 1535.0 411.0 24.38
---------------------------------------------------------
UEX-192 1850.0 1530.0 411.0 27.43
---------------------------------------------------------
UEX-193 1800.0 1525.0 411.2 25.91
---------------------------------------------------------
UEX-194 1775.0 1525.0 411.8 28.96
---------------------------------------------------------
UEX-195 1787.5 1525.0 411.4 30.48
---------------------------------------------------------
UEX-196 1787.5 1520.0 411.3 30.48
---------------------------------------------------------
UEX-203 1762.5 1520.0 412.1 28.96
---------------------------------------------------------
UEX-204 1762.5 1515.0 411.9 28.96
---------------------------------------------------------
UEX-212 1762.5 1475.0 411.5 28.96
---------------------------------------------------------
UEX-213 2125.0 1515.0 410.2 32.00
---------------------------------------------------------
The core lengths of the individual mineralized intersections are believed
to be indicative of the true thicknesses of the mineralized zones, as the
deposit is flat lying, and in the shape of a ribbon. All sonic drill holes
were drilled at -90 degrees (vertical).
%SEDAR: 00017609E
For further information: UEX CORPORATION, SUITE 1007 - 808 NELSON STREET,
VANCOUVER, B.C., CANADA, V6Z 2H2, PH: (604) 669-2349, FAX (604) 669-1240,
Website: www.uex-corporation.com, email: uex@intergate.ca
