Axis Lake Project
The 100% owned Axis Lake Project is located north of the northern margin of the Athabasca Basin, where there is no sandstone cover and where mafic and ultramafic rocks considered prospective for cobalt, copper, and nickel mineralization occur. Several copper-nickel showings occur both on the Property and on the lands surrounding the Project. Recent prospecting on the property in 2021 has confirmed the showings previously reported on the Property.
Beatty River Project
The Beatty River Project is located in the western Athabasca Basin approximately 40 km south of the Shea Creek Deposits. It is a joint venture between Orano (51%), JCU (24%), and UEC (25%), with Orano being the operator. The Project is located along trend of the recent discovery by Fission 3.0 on their Patterson Lake North property.
Black Lake Project
Located on the northern edge of the Athabasca Basin 15 km south of the hamlet of Stony Rapids, Saskatchewan’s UEC’s Black Lake Project has encountered unconformity-style mineralization in several drill holes in the northern section of the property.
UEX signed an option in 2017 with ALX Uranium Corp, where ALX could earn up to a 75% interest in the Property over four years by issuing 12 million ALX shares to UEX and completing a minimum of $6 million in exploration work on the Project. In 2017, ALX completed a drill program and a property wide ZTEM electromagnetic survey, and in the spring of 2019, ALX completed a radon and helium survey. Preliminary results from the 2019 survey show some radon, radiometric, and helium anomalies in the area. ALX stopped their earn-in at 40%.
Currently, UEC owns 51.43% of the Black Lake Project, ALX owns 40% and, Orano owns 8.57%.
Key West Project
These four staked claims are immediately west of and adjacent to Cameco’s Key Lake Uranium operations. Historically explored intermittently for uranium, this 13,208-hectare land package is considered by the UEC team to be prospective for both uranium, nickel, and cobalt.
Other Western Athabasca Projects
In addition to the Shea Creek Project joint venture with Orano, UEC is also joint ventured in the following Western Athabasca projects in the same area: Alexandra, Brander Lake, Erica, Laurie, Mirror River, Nikita, and Uchrich. Orano is the operator of these joint ventures.
Riou Lake Project
Interest in the Riou Lake area was piqued when historic radioactive boulders containing up to 11.3% uranium were found on the property. UEC considers Riou Lake to be prospective for the discovery of unconformity-style uranium deposits. Drilling to date has intersected 0.448% U3O8 over 0.5 m near the unconformity in hole RLG-D21 within widespread area containing radioactive springs and 0.537% U3O8 over 0.07 m in a single hole associated with the PM conductor area.
UEC owns 100% of the Project.