Riou Lake Project site is located in the largely unexplored northern part of the Athabasca Basin, is adjacent to the Black Lake property and is about 35 kilometres southwest of Stony Rapids, Saskatchewan. The area has demonstrated potential for uranium mineralization as evidenced by the nearby Fond du Lac Deposit and drilling samples at Black Lake.
With the presence of radioactive boulders in glacial till on the property containing up to 11.3% uranium, graphite-bearing gneiss units in the underlying basement rocks and local evidence of significant post-Athabasca reverse faulting, the property is considered prospective for unconformity-style uranium deposits.
Reconnaissance drilling has focused on areas where electromagnetic conductors have been defined by ground geophysical surveys. Several areas of anomalous alteration, low-grade uranium mineralization, and associated faulting have been intersected and now form principal target areas for follow-up drilling.
UEX continues to evaluate the uranium exploration potential of the Riou Lake property. While prospective, the significant depths to the target area at the base of the Athabasca sandstone mean drilling will need to be optimized to the best targets with sufficient size potential for a significant uranium deposit.
Ownership: 100% UEX Corporation
Project operator: UEX Corporation
Property size: 27,346 hectares, 11 claims
(as at December 31, 2012)
Uranium Quick Fact:
After mining, the ore material is processed by grinding to uniform particle size and treated to extract uranium by chemical leaching. The milling process yields a dry powder-form material sold as U3O8 (also known as yellowcake).Glossary