UEX is involved in fourteen uranium projects located in the Athabasca Basin, the world’s richest uranium district, which in 2016 accounted for approximately 22.6% of global primary uranium production. The Company’s projects include three that are 100% owned and operated by UEX, one joint venture with AREVA Resources Canada Inc. (“AREVA”) that is under option to and operated by ALX Uranium, eight projects joint-ventured with and operated by AREVA (Western Athabasca), one project joint-ventured with AREVA and JCU (Canada) Exploration Company Limited (“JCU”) that is operated by AREVA and one project under option from JCU and operated by UEX. AREVA is part of the AREVA group, one of the world’s largest nuclear service providers, and JCU is a private company with significant investments in uranium projects in Canada.
Hidden Bay Project
The 100%-owned Hidden Bay Project is one of the world’s most prospective basement-hosted uranium projects. Sandwiched between Cameco’s Rabbit Lake/Eagle Point Mining and Milling Operation and AREVA’s McClean Lake Mine and Mill, the Project is overlain by 0 to 100 m of sandstone cover.
The Project hosts the shallowest undeveloped uranium deposit in the Athabasca Basin, the West Bear Uranium Deposit. The nearby West Bear Cobalt-Nickel Prospect has the potential to enhance shareholder value due to rapid growth in the demand for electric cars.
The Hidden Bay Project is 100% owned and covers over 200 km of highly prospective uraniferous exploration corridors where historical explorers exclusively focused their efforts towards the discovery of classic unconformity deposits. Historical exploration generally ignored the potential for the discovery of the new style of basement-hosted deposits being found today such as Arrow, Triple R, Eagle Point, Millennium, Roughrider, Gryphon, and UEX’s own Horseshoe and Raven Deposits.
UEX has identified over a dozen ‘hot spots’ on the property that have potential for the discovery of basement-hosted deposits at very shallow target depths.
Hidden Bay - Gallery
Black Lake Project
Riou Lake Project
Other Western Athabasca Projects