The Douglas River property is located in the western Athabasca Basin of northern Saskatchewan adjacent to the Shea Creek property and 9 kilometres southeast of the former Cluff Lake mine. The Cluff Lake mine camp has been used as a base to conduct exploration work on the project. The property contains the northern continuation of the Saskatoon Lake Conductor and the Klark Lake Conductor from the Shea Creek site. Douglas River is accessible by Provincial Highway 955 and an airstrip maintained by AREVA Resources Canada Inc. ("AREVA").
Drill holes on the Douglas River property have confirmed the presence of the highly prospective Saskatoon Lake Conductor and the parallel Klark Lake Conductor on the property. Fifteen holes have been drilled on the property and drilling near the Collette Deposit on the Shea Creek property has intersected uranium mineralization at the sub-Athabasca unconformity grading 0.53% eU3O8 over 3.7 metres at a vertical depth of approximately 690 metres. Other drill holes at the Douglas River property are showing positive indicators of nearby mineralization by displaying anomalous uranium, lead and nickel at the unconformity.
UEX and AREVA continue to evaluate the uranium exploration potential of the Douglas River Project.
Ownership: 49% UEX Corporation, 51% AREVA Resources Canada Inc. ("AREVA")
Project operator: AREVA
Property size: 7,762 hectares, 3 claims
(as at December 31, 2012)
2013 Joint Venture Budget
Uranium Quick Fact:
With known resources of 572,000 tonnes of U3O8, and ongoing exploration programs, Canada has a significant role in meeting the world's future uranium requirements.
(Source: World Nuclear Association)Glossary