The 100% UEC-owned Hidden Bay Project is one of the world’s most prospective uranium projects for basement-hosted uranium mineralization. It is located 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. Multiple regional structural trends with mineralization on the adjacent properties trend through Hidden Bay. Uranium mineralization has been discovered on almost every one of these structural corridors on the property, and they remain open for additional exploration.
The Hidden Bay Project 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 uranium deposits being found today, such as Arrow, Triple R, Eagle Point, Millennium, Roughrider, Gryphon, and UEC’s own Horseshoe and Raven Deposits.
UEC 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.