Uranium Power makes high-grade discovery at newly acquired Christie Lake challenge

Uranium Power Corp. (NYSE-AM: UEC) has made a brand new discovery on the Christie Lake challenge within the jap Athabasca Basin of northern Saskatchewan. The invention gap encountered high-grade mineralization that averaged 7.8% eU3O8 (uranium oxide) over 9.1 metres and included a subinterval of 26.1% eU3O8 over 2.3 metres. The grades have been estimated in-situ throughout the drill holes utilizing calibrated down-hole radiometric gamma probes, with the drill core but to be assayed.

A follow-up gap intersected the unconformity roughly 13 metres to the northeast and intersected 68.7% eU3O8 over 2.1 metres, the highest-grade mineralized intersection ever encountered on the Christie Lake property.

Importantly, these intersections at Christie Lake symbolize a number of the largest and highest-grade drill intersections of uranium reported globally in 2022, in accordance with UEC.

So far, seven holes have been drilled into a brand new discovery, named the Sakura zone, all of which comprise uranium mineralization at or close to the unconformity. The mineralization stays open in all instructions and would be the focus of the following section of drilling on the Christie Lake property. The 2023 winter program is predicted in early January.

Cameco and Areva’s McArthur River uranium mine in Saskatchewan. Credit score: Cameco.

Christie Lake is one in every of 29 tasks included in UEC’s latest $171 million acquisition of UEX Corp. and one in every of 5 which are at useful resource stage. The property is strategically located 9 km alongside strike of Cameco‘s (TSX: CCO; NYSE: CCJ) McArthur River, the world’s largest and highest-grade uranium mine.

UEC at present has an approximate 82.77% curiosity within the challenge, with JCU (Canada) Exploration Co. performing as its three way partnership accomplice.

“The tasks in Canada’s Athabasca Basin are among the many highest grades globally for typical mining, and at present’s headline 68% grade over 2 metres demonstrates this aggressive benefit. Whereas porosity, flow-rates and recoveries are important in U.S. in-situ restoration manufacturing, grade is king in typical mining,” mentioned Amir Adnani, president and CEO.

“At UEC, we have now created a North American platform of best-in-class uranium assets in confirmed U.S. and Canadian mining jurisdictions,” he added.

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