UEX Corp. [UEX-TSX] reported additional cobalt-nickel assay results from the winter drill program at Michael Lake on the West Bear property in the eastern Athabasca basin, northern Saskatchewan. This winter, UEX completed 19 drill holes totalling 2,690 metres at Michael Lake.
Drill hole MIC-006 intersected mineralization that averaged 0.32% cobalt and 0.55% nickel over 18 metres from 59.5 to 77.5 metres within altered basement rocks, which included a subinterval averaging 1.09% cobalt and 1.13% nickel over 2.5 metres (from 73 to 75.5 m). MIC-006 tested the area approximately 25 metres down-dip of hole MIC-004 at a vertical depth of between 52 to 67 metres below surface between holes MIC-004 and MIC-007.
Drill hole MIC-009 was drilled to test the area approximately 25 metres along strike to the grid south of MIC-006 and encountered cobalt-nickel mineralization in several intervals. The best interval averaged 0.37% cobalt and 0.33% nickel over 8 metres from 68 to 76 metres within altered basement rocks and includes a high-grade subinterval of cobalt-nickel mineralization that averages 1.76% cobalt and 1.38% nickel over 1.5 metres from 70.5 to 72 metres.
Drill hole MIC-010 was collared 25 metres down dip of MIC-009 and intersected cobalt-nickel mineralization grading 0.22% cobalt and 0.33% nickel over 22 metres from 61.5 to 83.5 metres, including a subinterval of high-grade mineralization grading 2.02% cobalt and 2.70% nickel over 2 metres from 81 to 83 metres. The high-grade mineralization remains open at depth on Section 23+75N.
MIC-011 was collared on Section 23+50N and represents a 25-metre step grid south from MIC-009 and MIC-010. This hole encountered cobalt-nickel mineralization over several intervals, the widest of which was 9.3 metres of 0.02% cobalt and 0.04% nickel from 50 to 59.3 metres.
MIC-013 collared on section 24+50N, approximately 50 m along strike of MIC-005 as a shallow test of the width of this plunging mineralized system. MIC-013 encountered cobalt-nickel mineralization averaging 0.03 per cent Co and 0.08 per cent Ni over 17 metres.
The current assay results are encouraging as this new zone of cobalt-nickel mineralization at Michael Lake remains open for expansion in all directions.
UEX also completed six drill holes totalling 753 metres testing exploration targets in the Uranium-Nickel Sands target on the adjacent Hidden Bay Project.