Exploration Success at the Christie Lake Project

2017

Mr Trevor Perkins (Exploration Manager - UEX Corporation)

The Christie Lake uranium project is located 9 km northeast along strike of Cameco’s world-class McArthur River mine. The P2 Fault Corridor, host of all McArthur River mineralization, extends onto the Christie Lake Project where it also hosts uranium mineralization. In 2016, JCU and UEX signed an option agreement under which UEX is on track to vest a 70% ownership position. UEX currently has a 30% interest and is the project operator. PNC Exploration Canada Co. Ltd. staked the project lands in 1985 and actively explored the property until 1997, resulting in the discovery of the Paul Bay and Ken Pen deposits. These two basement-hosted deposits sit at the southwest end of the Yalowega Trend, a 1.5 km long uraniferous conductive feature. Along the Yalowega Trend, the Athabasca Group Sandstone ranges between 405 to 485 m thick and overlies the western part of the Wollaston Domain. Within the project area, major faults trending northerly, northeasterly, easterly and southeasterly have been inferred from the regional magnetic data. Exploration along the Yalowega Trend in 2017 has led to the discovery of the high-grade Ōrora Deposit, an unconformity style deposit located 500 m to the northeast of the previously discovered deposits.
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