(via TheNewswire)
The independent technical report and mineral resource estimate was completed by Qualified Persons Mr.
The West Bear mineral resource was determined using a cut-off grade of 0.14% CoEq. A total of 295,000 tonnes containing 3.763 million pounds cobalt at an average grade of 0.58% Co, and 3.164 million pounds nickel at an average grade 0.49% Ni are estimated in the indicated category.
Table 1 – West Bear Deposit Mineral Resource Estimates
Category | Grade | Contained Metal | ||||
Quantity (Tonnes) | Cobalt (%) | Nickel (%) | Cobalt | Nickel | ||
Indicated | 295,000 | 0.58 | 0.49 | 3,763 | 3,164 |
*Mineral resources are not mineral reserves and have not demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserve. All figures are rounded to reflect the relative accuracy of the estimates. Resources were estimated using a cut-off grade of 0.14% CoEq and consider metal prices of
The current mineral resource estimate includes the results from 430 sonic and diamond drill holes totalling 27,571.1 m which were drilled during the period 2003, 2005, 2007, 2018, and 2019. The mineral resources reported herein were estimated using a rotated block model informed from sonic and core drill hole data constrained within cobalt mineralization. An isosurface for the mineralization was developed from the drill hole assays by generating an indicator radical basis function interpolant based on a cobalt-equivalent grade of 0.10%, and block grades for Co and Ni were estimated using inverse distance squared linear weighting of capped composites. Based on the observed continuity of drilling and tight drill hole spacing, the Qualified Person considers all block estimates within the mineralized wireframe to satisfy the classification criteria for Indicated Mineral Resources.
All samples and specific gravity determinations used to calculate the resource estimate were assayed at the Saskatchewan Research Counsel’s
The technical report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), has been be filed on SEDAR atwww.sedar.comand is available on the Company’s website at www.uexcorp.com.
Qualified Persons and Data Acquisition
The technical report was prepared by
About the
The West Bear Property is an advanced exploration project located in the eastern
About UEX
UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects.
UEX’s directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the
UEX is also 50:50 co-owner of
UEX is also leading the discovery of cobalt in
FOR FURTHER INFORMATION PLEASE CONTACT
President & CEO
(306) 979-3849
www.uexcorp.com
Forward-Looking Information
This news release contains statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such statements are based on UEX's current expectations, estimates, forecasts and projections. Such forward-looking information includes statements regarding UEX's drill hole results, uranium, cobalt and nickel prices, outlook for our future operations, plans and timing for exploration activities, and other expectations, intentions and plans that are not historical fact. Such forward-looking information is based on certain factors and assumptions and is 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 information. Important factors that could cause actual results to differ materially from UEX's expectations include uncertainties relating to the, interpretation of drill results and geology, assay confirmation, additional drilling results, continuity and grade of deposits, fluctuations in uranium, cobalt and nickel prices and currency exchange rates, changes in environmental and other laws affecting uranium, cobalt and nickel exploration and mining and other risks and uncertainties disclosed in UEX's Annual Information Form and other filings with the applicable Canadian securities commissions on SEDAR. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is 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 information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Copyright (c) 2022 TheNewswire - All rights reserved.
Copyright (c) 2022 TheNewswire - All rights reserved., source