UEX Corp UEXCF

Hidden Bay from MD&A

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From Destinator  https://investorshub.advfn.com/UEX-Corp-TSX-UEX-17360/


Hidden Bay from MD&A 

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In April 2019, UEX acquired 1 claim totaling 245 hectares via staking. This new claim was located at the northeast margin of the Property and covered lands that overlie the eastern extension of the Rabbit Lake Fault, 4 km north-east and along strike of the Rabbit Lake Uranium Open-Pit Mine. 

Basement Targeting at Hidden Bay 

Work completed between 2015 and 2018 has confirmed that previous operators on the Hidden Bay Project focused primarily on testing unconformity targets with little effort expended on testing basement targets at depths below the unconformity where the Millennium, Gryphon and Roughrider basement-hosted deposits were found. 

In the western half of the Hidden Bay property where Athabasca sandstone cover is present, less than 25% of the historical drilling extended deep enough below the unconformity to test for basement uranium mineralization potential. UEX’s existing unconformity-focused exploration database confers a substantial competitive advantage, as it can be used to generate high-quality basement targets with limited capital outlay. Substantial investment in geophysics, prospecting and drilling would be required to obtain a fraction of the information that UEX already possesses and is using to vector toward basement-hosted deposits.