["original signed"]
|
Glen Cole, PGeo (APEGS# 26003, APGO#1416)
Principal Consultant (Resource Geology)
|
Deposit
|
Tonnage
|
Grade
|
Contained Metal
|
(000s)
|
(% U3O8)
|
(Mlb U3O8)
| |
Inferred Mineral Resources
| |||
Paul Bay
|
338
|
1.81
|
13.49
|
Ken Pen
|
149
|
1.05
|
3.44
|
Ōrora
|
102
|
1.53
|
3.41
|
Total
|
588
|
1.57
|
20.35
|
* Mineral resources are not mineral reserves and have not demonstrated economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. Reported at a cut-off grade of 0.2% U3O8.
|
IMPORTANT NOTICE
|
ii
|
Executive Summary
|
iii
|
Introduction
|
iii
|
Property Description and Ownership
|
iii
|
Geology and Mineralization
|
iv
|
Exploration Status
|
v
|
Data Verification
|
v
|
Mineral Resource and Mineral Reserve Estimates
|
vi
|
Conclusion and Recommendations
|
vii
|
Table of Contents
|
ix
|
List of Tables
|
xii
|
List of Figures
|
xiii
|
1. Introduction and Terms of Reference
|
15
|
1.1. Scope of Work
|
15
|
1.2. Work Program
|
16
|
1.3. Basis of Technical Report
|
16
|
1.4. Qualifications of the SRK Team
|
16
|
1.5. Site Visit
|
16
|
1.6. Acknowledgement
|
17
|
1.7. Declaration
|
17
|
2. Reliance on Other Experts
|
18
|
3. Property Description and Location
|
19
|
3.1. Mineral Tenure
|
19
|
3.2. Underlying Agreements
|
22
|
3.3. Permits and Authorization
|
22
|
3.4. Environmental Considerations
|
23
|
3.5. Mining Rights in Saskatchewan
|
23
|
4. Accessibility, Climate, Local Resources, Infrastructure, and Physiography
|
24
|
4.1. Accessibility
|
24
|
4.2. Local Resources and Infrastructure
|
24
|
4.3. Climate
|
26
|
4.4. Physiography
|
26
|
5. History
|
27
|
5.1. Property Ownership
|
27
|
1. Exploration and Development History
|
27
|
5.1.1. PNC (1985 - 2000)
|
27
|
5.1.2. JCU (2000 - 2016)
|
42
|
2. Historical Mineral Resource Estimates
|
42
|
3. Historical Production
|
42
|
6. Geological Setting and Mineralization
|
43
|
6.1. Regional Geology
|
43
|
6.2. Property Geology
|
43
|
6.2.1. Athabasca Group
|
46
|
6.2.2. Wollaston Group
|
46
|
6.2.3. Structural Geology
|
46
|
6.3. Mineralization
|
47
|
6.4. Alteration
|
50
|
7. Deposit Types
|
51
|
8. Exploration
|
53
|
8.1. UEX (2016 - 2021)
|
53
|
8.1.1. DC Resistivity and EM Surveys (2019-2020)
|
53
|
8.2. TDEM Surveys (2020)
|
58
|
8.3. Exploration Targets
|
61
|
9. Drilling
|
62
|
9.1. Drilling by UEX (2016 - 2021)
|
63
|
9.2. Drilling Procedures
|
66
|
9.2.1. Historical Operators (Pre-1997)
|
66
|
9.2.2. UEX (2016 - 2021)
|
66
|
9.3. Surveying
|
69
|
9.4. Core Recovery
|
69
|
9.5. SRK Comments
|
69
|
10. Sample Preparation, Analyses, and Security
|
70
|
10.1. PNC (1985 - 2000)
|
70
|
10.2. JCU (2000 - 2016)
|
70
|
10.3. UEX (2016 - 2021)
|
70
|
10.4. Specific Gravity Data
|
71
|
10.5. Quality Assurance and Quality Control Programs
|
72
|
10.5.1. PNC (1985 - 2000)
|
72
|
10.5.2. JCU (2000 - 2016)
|
72
|
10.5.3. UEX (2016 - 2021)
|
72
|
10.6. Security
|
73
|
10.7. SRK Comments
|
73
|
11. Data Verification
|
74
|
11.1. Verifications by UEX
|
74
|
11.1.1. Data Collection and Verification
|
74
|
11.2. Verifications by SRK
|
75
|
11.2.1. Site Visit
|
75
|
11.2.2. Database Verifications
|
75
|
11.2.3. Verifications of Analytical Quality Control Data
|
76
|
11.2.4. SRK Comments
|
77
|
12. Mineral Processing and Metallurgical Testing
|
79
|
13. Mineral Resource Estimates
|
80
|
13.1. Introduction
|
80
|
13.2. Resource Estimation Procedures
|
80
|
13.3. Resource Database
|
81
|
13.4. Geological Modelling
|
82
|
13.5. Statistical Analysis and Compositing
|
82
|
13.6. Evaluation of Outliers
|
84
|
13.7. Specific Gravity
|
85
|
13.8. Statistical Analysis and Variography
|
85
|
13.9. Block Model and Grade Estimation
|
87
|
13.10. Model Validation
|
88
|
13.11. Mineral Resource Classification
|
89
|
13.12. Mineral Resource Statement
|
89
|
13.13. Grade Sensitivity Analysis
|
92
|
13.14. Recommendations
|
92
|
14. Adjacent Properties
|
93
|
14.1. The McArthur River Mine (Cameco)
|
93
|
15. Other Relevant Data and Information
|
96
|
16. Interpretation and Conclusions
|
97
|
17. Recommendations
|
99
|
17.1. Phase 1
|
99
|
17.2. Phase 2
|
100
|
17.3. Metallurgical Test Work
|
100
|
17.4. Comment
|
101
|
18. References
|
102
|
APPENDIX A
|
105
|
APPENDIX B
|
114
|
Figure 1: Location of the Christie Lake Uranium Project in Saskatchewan, Canada
|
20
|
Figure 2: Land Tenure Map of the Christie Lake Uranium Project
|
21
|
Figure 3: Infrastructure and Typical Landscape in the Christie Lake Project Area
|
25
|
Figure 4: Line-cutting and Grids on the Christie Lake Uranium Project by PNC (1986-1997)
|
30
|
Figure 5: TDEM Surveys and Grid on the Christie Lake Uranium Project by PNC (1994)
|
32
|
Figure 6: TDEM Survey and Grid on the Christie Lake Uranium Project by PNC (1997)
|
33
|
Figure 7: Compilation of 1986-1997 TDEM Conductors on the Christie Lake Uranium Project Conducted by PNC
|
34
|
Figure 8: Channel EM2, GEOTEM Survey on the Christie Lake Uranium Project by PNC (1982)
|
36
|
Figure 9: Vertical Magnetic Gradient, DIGHEM Survey on the Christie Lake Uranium Project by PNC (1992)
|
37
|
Figure 10: 7200 Hertz Apparent Resistivity, DIGHEM Survey on the Christie Lake Uranium Project by PNC (1992)
|
38
|
Figure 11: Map Showing the Distribution of Drilling on the Christie Lake Uranium Project
|
40
|
Figure 12: Regional Geology Setting of the Christie Lake Uranium Project
|
44
|
Figure 13: Local Geology Setting of the Christie Lake Uranium Project
|
45
|
Figure 14: Uranium Mineralization in NQ Core at the Christie Lake Uranium Project
|
48
|
Figure 15: Unconformity Related Deposit Models
|
51
|
Figure 16: 2019 DC Resistivity Coverage
|
54
|
Figure 17: Christie North Resistivity Interpretation - Sandstone
|
56
|
Figure 18: Christie North Resistivity Interpretation - Basement
|
56
|
Figure 19: Christie South Resistivity Interpretation - Sandstone
|
57
|
Figure 20: Christie South Resistivity Interpretation - Basement
|
57
|
Figure 21: 2020 TDEM Coverage with Loops
|
59
|
Figure 22: Anomaly Locations Plotted by Conductor Number
|
60
|
Figure 23: Summary of Drilling Conducted on the Christie Lake Uranium Project (1988-2021)
|
62
|
Figure 24: Plan Map of Drilling on the Paul Bay, Ken Pen and Ōrora Zones, Christie Lake Uranium Project
|
65
|
Figure 25: Team Drilling Limited Drill Rig During the 2018 Summer Drilling Program
|
66
|
Figure 26: Time Series Plots for Blank Material and Certified Reference Material Samples Assayed by SRC Laboratory in Saskatoon, Saskatchewan, Canada, Between 2016 and 2018.
|
76
|
Figure 27: Estimation Domains
|
83
|
Figure 28: Length Frequency Distribution of the Samples Within the Mineralization Domains
|
84
|
Figure 29: U3O8 vs. Specific Gravity Regression Curve and Equation
|
85
|
Figure 30: Cumulative Probability Plots for Declustered Composite Data
|
86
|
Figure 31: Normal Scores (NS) and Back-transformed (Y-Z) Experimental Variograms and Fitted Variogram Model for U3O8 Grades
|
87
|
Figure 32: Swathplot Comparing Estimated and Declustered Capped Composite U3O8 Grades
|
88
|
Figure 33: Quantile-Quantile Plot of the Change of Support Corrected Composite and Estimated U3O8 Grades for Paul Bay 1 Domain
|
89
|
Figure 34: Illustrative Resource Model Sections Across the Ken Pen (Top) and Paul Bay (Bottom) Mineral Resource Domains, Showing U3O8 Grade Continuity Above Reporting Cut-off Grade (0.2 % U3O8)
|
90
|
Figure 34: Plan Showing the Location of the McArthur River Uranium Mine in Relation to the Christie Lake Project and Other Reference Deposits
|
94
|
1.1.
|
Scope of Work
|
●
|
Topography, landscape, access
|
●
|
Regional and local geology
|
●
|
Exploration history
|
●
|
Audit of exploration work carried out on the project
|
●
|
Geological modelling
|
●
|
Mineral resource estimation and validation
|
●
|
Preparation of a Mineral Resource Statement
|
●
|
Recommendations for additional work
|
1.2.
|
Work Program
|
1.3.
|
Basis of Technical Report
|
●
|
Discussions with UEX personnel.
|
●
|
Inspection of the Christie Lake Project area, including drill core.
|
●
|
Review of exploration data collected by UEX.
|
●
|
Additional information from public domain sources.
|
●
|
Report contributions provided by UEX.
|
1.4.
|
Qualifications of the SRK Team
|
1.5.
|
Site Visit
|
1.6.
|
Acknowledgement
|
1.7.
|
Declaration
|
3.1.
|
Mineral Tenure
|
Disposition Number
|
Record
Date
|
Area
(Ha)
|
Annual Assessment (C$/Ha)
|
Total Annual Assessment
(C$)
|
Work Due / Lapse Date
|
CBS-6163
|
10/7/1985
|
1,263
|
25
|
$31,575
|
10/7/2043
|
CBS-7610
|
10/7/1985
|
1,732
|
25
|
$43,300
|
10/7/2043
|
CBS-8027*
|
15/1/1986
|
2,291
|
25
|
$57,275
|
14/4/2044
|
S-101720
|
7/12/1990
|
83
|
25
|
$2,075
|
6/3/2044
|
S-101721
|
7/12/1990
|
404
|
25
|
$10,100
|
6/3/2044
|
S-101722
|
7/12/1990
|
2,149
|
25
|
$53,725
|
6/3/2044
|
Total
|
7,992
|
$198,050
| |||
* Location of the Paul Bay, Ken Pen and Ōrora Uranium Mineralized Zones
|
3.2.
|
Underlying Agreements
|
3.3.
|
Permits and Authorization
|
Best Management Practises
|
Permits Required and Obtained
|
Staking
|
-
|
Grassroots Exploration
|
-
|
Forest Clearing
|
Forest Production Permit 15PA269
Forest Production Permit 17PA069
|
Temporary Work Camps
|
Temporary Work Camp 15PA269
Temporary Work Camp 16PA281
Temporary Work Camp 17PA069
|
Hazardous Wastes and Goods
|
-
|
Fire Prevention and Control
|
-
|
Access
|
Forest Production Permit 15PA269
Forest Production Permit 17PA069
|
Water Crossings
|
Aquatic Habitat Protection Permit 15PA269
Aquatic Habitat Protection Permit 17PA069
|
Exploration Trenching
|
-
|
Drilling on Land
|
Forest Production Permit 15PA269
Forest Production Permit 17PA069
|
Drilling on Ice
|
Aquatic Habitat Protection Permit 15PA269
Aquatic Habitat Protection Permit 17PA069
|
Core Storage
|
Ministry of Economy legislation states that core is to be left on-site. Since this requirement is indicated in provincial legislation, mineral companies can leave core boxes with core on-site indefinitely without any additional permit/approval.
|
Restoration
|
-
|
First Nations and Métis Community Engagement
|
Letters to stakeholders submitted
|
Water Usage
|
Temporary Water Rights Licence to use Surface Water E8/10914 & E8/10915
Temporary Water Rights Licence to use Surface Water E8/10925 & E8/10926
|
3.4.
|
Environmental Considerations
|
3.5.
|
Mining Rights in Saskatchewan
|
4.1.
|
Accessibility
|
4.2.
|
Local Resources and Infrastructure
|
4.3.
|
Climate
|
4.4.
|
Physiography
|
5.1.
|
Property Ownership
|
5.2.
|
Exploration and Development History
|
5.2.1.
|
PNC (1985 - 2000)
|
Element
|
Max (ppm)
|
Target Association
|
Comments
|
Uranium
|
2.9
|
Northern Conductive Zone
|
Correlates with zinc, copper, and nickel with highest values spatially related to conductivity response in northwestern part of grid
|
Lead
|
28
|
Northern Conductive Zone
|
Highest values in northwest corner of grid
|
Zinc
|
143
|
Northern Conductive Zone
|
Highest values in northwest corner of grid
|
Copper
|
14
|
Northern Conductive Zone
|
Highest values in northwest corner of grid
|
Nickel
|
12
|
Southern Target
|
Highest values in south, other high values are clustered in the northern part of the grid
|
Type of Work
|
Year
|
Total
| ||||||||||||
1986
|
1987
|
1988
|
1989
|
1990
|
1991
|
1992
|
1993
|
1994
|
1995
|
1996
|
1997
| |||
Airborne Geophysics (km)
| ||||||||||||||
EM/Magnetic (GEOTEM)
|
452.3
|
452.3
| ||||||||||||
HEM (DIGHEM)
|
553.0
|
553.0
| ||||||||||||
Ground Geophysics
| ||||||||||||||
HLEM
|
5.0
|
5.0
| ||||||||||||
VLF
|
4.0
|
4.0
| ||||||||||||
Gravity
|
40.0
|
40.0
| ||||||||||||
EM-37 Fixed Loop
|
98.3
|
9.4
|
27.2
|
153.8
|
49.8
|
126.2
|
102.0
|
566.7
| ||||||
EM-37 Sounding / Moving Loop
|
8.0
|
3.6
|
11.6
|
1.0
|
24.2
| |||||||||
EM-37 Stepwise Moving Loop
|
97.0
|
97.0
| ||||||||||||
Downhole PEM (holes)
|
2
|
2
| ||||||||||||
Geochemical Surveys (samples)
| ||||||||||||||
Soil
|
297
|
297
| ||||||||||||
Lake Sediment
|
63
|
63
| ||||||||||||
Core Samples
|
155
|
447
|
888
|
593
|
725
|
730
|
509
|
306
|
4,353
| |||||
Diamond Drilling
| ||||||||||||||
Number of Holes
|
3
|
6
|
14
|
15
|
20
|
19
|
13
|
5
|
95
| |||||
Meterage
|
1,503.3
|
3,166.9
|
6,666.0
|
6,651.0
|
9,407.0
|
10,022.0
|
6,825.0
|
2,796.0
|
47,037.2
| |||||
Other Lab Work (samples)
| ||||||||||||||
XRD
|
9
|
39
|
23
|
6
|
24
|
28
|
129
| |||||||
Petrography
|
10
|
36
|
14
|
27
|
46
|
2
|
2
|
137
| ||||||
U-Pb Dating
|
1
|
1
| ||||||||||||
Specific Gravity
|
371
|
113
|
200
|
684
| ||||||||||
Grid Preparation
| ||||||||||||||
Line cutting
|
77.8
|
22.0
|
31.0
|
88.3
|
28.6
|
94.2
|
68.4
|
51.2
|
461.5
| |||||
Refurbishment
|
16.0
|
51.0
|
10.0
|
38.8
|
44.2
|
31.8
|
61.4
|
253.2
| ||||||
Year
|
Contractor
|
Equipment and Methodology
|
Loop Size (m)
|
Number of Loops
|
Centre of Loop Soundings
|
Station Interval (m)
|
Number of Components
|
Length of Profiles
|
Names or
Number of Conductors
|
Conductor
Attributes
|
1986
|
MPH
|
EM-37 Fixed Loop
|
400x800
|
11
|
10
|
100
|
2
|
75.0
|
B1, B2, B3, B4, B5, B6, +2
|
14 km strike length moderate to strong anomalies
|
1987
|
MPH
|
EM-37 Fixed Loop
|
400x800
|
3
|
3
|
100
|
2
|
13.3
|
B1, B2, +1
|
5.8 km total strike length moderate to strong anomalies
|
400x400
|
6
|
6
|
100
|
2
|
6.0
|
0
|
No anomalies
| |||
EM-37 Moving Loop
|
400x400
|
37
|
37
|
50
|
1
|
8.0
|
1
|
2.3 km strike length moderate to strong anomalies
| ||
1988
|
Quantec
|
EM-37 Fixed Loop
|
800x800
|
2
|
0
|
50
|
2
|
9.4
|
B3, B4
|
4.6 km total strike length weak anomalies
|
EM-37 Moving Loop
|
400x400
|
17
|
17
|
50
|
2
|
3.6
|
B5
|
Broad, shallow zone indicated
| ||
1989
|
Geoterrex
|
EM-37 Fixed Loop
|
400x800
|
4
|
0
|
50
|
2
|
27.2
|
B1, B2, AZ-1, AZ-2
|
7.4 km total strike length weak to moderate anomalies
|
800x1600
|
4
|
0
|
50
|
2
| ||||||
EM-37 Stepwise Moving Loop
|
400x400
|
7
|
7
|
50
|
1
|
11.6
|
0
|
Experimental survey only weak anomalies detected
| ||
1991
|
Geoterrex
|
EM-37 Fixed Loop
|
400x800
|
16
|
0
|
50
|
2
|
153.8
|
B1, B2-1, B2-2, B2-3, S, M1, M2, M3
|
6.9 km total strike length moderate to weak anomalies
|
700x1400
|
4
|
0
|
50
|
2
| ||||||
1992
|
Quantec
|
EM-37 Fixed Loop
|
400x800
|
5
|
0
|
50
|
2
|
49.8
|
Paul Bay, Ken Pen
|
2.5 km total strike length moderate anomalies
|
1994
|
Geoterrex
|
EM-37 Fixed Loop
|
800x1600
|
9
|
0
|
50
|
3
|
126.2
|
CB94-A, CB94-B, CB-94-C
|
8.2 km total strike length moderate anomalies
|
EM-37 Moving Loop
|
50x50
|
40
|
40
|
25
|
1
|
1.0
|
0
| |||
1996
|
Geoterrex
|
EM-37 Stepwise Moving Loop
|
800x800
|
24
|
24
|
50
|
3
|
97.0
|
CB94-A, CB94-B, +4
|
Reconnaissance only moderate anomalies
|
1997
|
Geoterrex
|
EM-37 Fixed Loop
|
800x1600
|
13
|
0
|
50
|
3
|
102.0
|
CB97-D, CB97-E, +6
|
17.3 km total strike length moderate to weak anomalies
|
Zone
|
SMDC/PNC
|
PNC
|
UEX
|
Total
| ||||||||||
1988
|
1989
|
1992
|
1993
|
1994
|
1995
|
1996
|
1997
|
2016
|
2017
|
2018
| ||||
Paul Bay
|
No.
|
-
|
4
|
13
|
4
|
-
|
1
|
1
|
3
|
20
|
6
|
-
| ||
metres
|
-
|
2,154
|
6,160
|
1,555
|
-
|
503
|
611
|
1,752
|
10,769
|
2,445
|
-
| |||
Ken Pen
|
No.
|
-
|
-
|
-
|
9
|
2
|
1
|
1
|
1
|
12
|
3
|
-
| ||
metres
|
-
|
-
|
-
|
4,156
|
1,046
|
506
|
521
|
552
|
3,674
|
1,284
|
-
| |||
Ōrora
|
No.
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
29
|
1
| ||
metres
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
9,022
|
507
| |||
Regional Targets
|
No.
|
4
|
2
|
1
|
2
|
18
|
17
|
11
|
1
|
-
|
-
|
10
| ||
metres
|
1,983
|
1,013
|
506
|
940
|
8,365
|
9,012
|
5,693
|
492
|
-
|
-
|
5,365
| |||
Total
|
No.
|
4
|
6
|
14
|
15
|
20
|
19
|
13
|
5
|
32
|
38
|
11
|
177
| |
metres
|
1,983
|
3,167
|
6,666
|
6,651
|
9,411
|
10,020
|
6,825
|
2,796
|
14,443
|
12,751
|
5,872
|
80,585
| ||
No. = Number of drill holes
| ||||||||||||||
Drill hole ID
|
Zone
|
Mineralization Type
|
From*
|
To*
|
Length*
|
U3O8%
|
Higher Grade Intervals Within Lower Grade Intersections
| |||
From*
|
To*
|
Length*
|
U3O8%
| |||||||
CB-004
|
Paul Bay
|
Basement
|
488.00
|
496.00
|
8.00
|
9.38
| ||||
CB-007
|
Paul Bay
|
Basement
|
466.00
|
467.50
|
1.50
|
1.46
| ||||
CB-010
|
Paul Bay
|
Basement
|
541.40
|
560.30
|
18.90
|
2.50
|
544.20
|
553.40
|
9.20
|
4.40
|
551.20
|
553.40
|
2.20
|
8.70
| |||||||
CB-015
|
Paul Bay
|
Basement
|
548.40
|
560.40
|
12.00
|
0.25
|
555.90
|
556.70
|
0.80
|
1.90
|
CB-017
|
Paul Bay
|
Basement
|
520.20
|
520.80
|
0.60
|
4.10
| ||||
538.10
|
547.50
|
9.40
|
1.80
|
539.30
|
545.80
|
6.50
|
2.50
| |||
540.80
|
541.30
|
0.50
|
24.60
| |||||||
CB-018
|
Paul Bay
|
Basement
|
526.00
|
542.00
|
16.00
|
0.24
| ||||
566.10
|
571.80
|
5.70
|
0.70
|
569.30
|
570.20
|
0.90
|
2.30
| |||
571.30
|
571.80
|
0.50
|
1.60
| |||||||
CB-019
|
Paul Bay
|
Basement
|
471.50
|
480.40
|
8.90
|
0.20
| ||||
CB-020
|
Paul Bay
|
Basement
|
423.90
|
430.90
|
7.00
|
1.40
|
428.50
|
428.80
|
0.30
|
14.00
|
442.50
|
444.50
|
2.00
|
4.82
| |||||||
CB-024
|
Ken Pen
|
Basement
|
444.50
|
448.00
|
3.50
|
0.19
| ||||
476.00
|
482.00
|
6.00
|
0.29
|
489.00
|
491.00
|
20.00
|
0.76
| |||
CB-028
|
Paul Bay
|
Basement
|
520.00
|
535.50
|
15.50
|
0.95
|
528.50
|
534.50
|
60.00
|
2.27
|
532.50
|
533.00
|
0.50
|
23.70
| |||||||
CB-032
|
Ken Pen
|
Unconformity
|
436.50
|
440.00
|
3.50
|
1.41
| ||||
Ken Pen
|
Basement
|
445.00
|
446.50
|
1.50
|
7.81
| |||||
470.50
|
479.50
|
9.00
|
4.41
|
472.50
|
478.00
|
5.50
|
7.08
| |||
CB-038
|
Shoreline
|
Basement
|
439.50
|
441.50
|
2.00
|
0.78
| ||||
CB-048
|
Basement
|
465.00
|
466.00
|
1.00
|
0.25
| |||||
CB-049
|
Basement
|
428.60
|
431.50
|
2.90
|
1.05
|
428.90
|
429.30
|
0.40
|
5.88
| |
CB-050
|
Otter Creek
|
Unconformity
|
413.00
|
422.00
|
9.00
|
0.25
|
420.20
|
420.30
|
0.10
|
10.08
|
Otter Creek
|
Basement
|
432.50
|
445.00
|
12.50
|
0.96
|
438.40
|
445.00
|
6.60
|
1.70
| |
440.50
|
441.75
|
1.25
|
5.94
| |||||||
CB-060
|
Otter Creek
|
Basement
|
422.75
|
423.75
|
1.00
|
0.51
| ||||
428.00
|
428.75
|
0.75
|
2.07
| |||||||
CB-067
|
East End
|
Basement
|
456.50
|
457.00
|
0.50
|
0.39
| ||||
CB-078
|
Otter Creek
|
Basement
|
474.60
|
476.00
|
1.40
|
0.22
| ||||
CB-081
|
Otter Creek
|
Basement
|
480.00
|
480.75
|
0.75
|
0.56
| ||||
482.0
|
484.00
|
2.00
|
0.31
| |||||||
CB-086
|
Paul Bay
|
Basement
|
545.80
|
555.00
|
1.80
|
2.87
|
553.20
|
555.00
|
1.80
|
2.87
|
CB-088
|
Paul Bay
|
Basement
|
550.30
|
551.70
|
1.40
|
0.40
| ||||
* Metres
|
5.2.2.
|
JCU (2000 - 2016)
|
5.3.
|
Historical Mineral Resource Estimates
|
Deposit
|
Cut-Off Grade
|
Tonnage
|
Grade
|
Contained
Metal
|
(% U3O8)
|
(000s)
|
(% U3O8)
|
(Mlb U3O8)
| |
Paul Bay
|
0.30
|
231.30
|
3.06
|
15.60
|
Ken Pen
|
0.30
|
62.96
|
3.80
|
5.27
|
Total
|
0.30
|
294.25
|
3.22
|
20.87
|
5.4.
|
Historical Production
|
6.1.
|
Regional Geology
|
6.2.
|
Property Geology
|
6.2.1.
|
Athabasca Group
|
●
|
MFa is the basal unit comprised of interbedded conglomerate and sandstone characterized by localized red mudstone layers and massive laminated sandstones.
|
●
|
MFb is conglomerate-rich dominated by thick conglomerate beds with pebbly sandstone interbeds.
|
●
|
MFc is a relatively thin medium- to coarse-grained sandstone with sparse interclasts.
|
●
|
MFd is mostly fine- to coarse-grained sandstone with white mudstone and siltstone interclasts.
|
6.2.2.
|
Wollaston Group
|
6.2.3.
|
Structural Geology
|
6.3.
|
Mineralization
|
6.4.
|
Alteration
|
Deposit
|
Types
|
1.
|
Polymetallic, Egress style mineralization: Typically hosted by sandstone, in which fluid mixing has occurred at or above the unconformity. Often this style of mineralization is coincident with mineralization that is perched above the unconformity along steeply dipping faults, which can display a paleotopographic ridge of basement rock. Egress style mineralization is often polymetallic, and the uranium is associated with a number of accessory elements that include nickel, cobalt, copper, molybdenum, zinc, lead and arsenic.
|
2.
|
Monometallic, Ingress style mineralization: Typically, basement hosted (but can be seen within sandstone), in which fluid mixing occurred below the unconformity. This type of mineralization is often controlled by reverse faulting. Monometallic mineralization is defined by nearly exclusive uranium precipitation.
|
Exploration
|
8.1.
|
UEX (2016 - 2021)
|
8.1.1.
|
DC Resistivity and EM Surveys (2019-2020)
|
8.2.
|
TDEM Surveys (2020)
|
1.
|
As previously known, the conductors in the Athabasca Basin are very weak when compared to other commodities where TDEM surveys have proven to be a very successful exploration tool (ex. VMS). Due to lack of conductivity, the latest time channels are within the noise threshold of the sensors. Future programs should consider other sensors (such as SQUID systems) to determine if these systems with a higher signal to noise ratio can increase conductor location confidence and accuracy.
|
2.
|
Smaller, more well-designed loops were more effective in locating the secondary conductors which were previously unknown. Future surveys should consider smaller more dedicated loops than previous large loop surveys to assess for these types of conductors.
|
3.
|
The interpreted conductors have a variety of wavelengths as interpreted from the profiles. As longer wavelength anomalies will be from deeper seated responses, interpretation of these conductors should take wavelength and potential depth of the anomalous response into account.
|
8.3.
|
Exploration Targets
|
Drilling
|
Operator
|
Period
|
Count
|
Length (m)
|
SMDC
|
1988
|
1
|
479
|
PNC
|
1986-1997
|
95
|
47,040
|
Subtotal Historical
|
96
|
47,519
| |
UEX
|
2016
|
32
|
14,443
|
2017
|
38
|
16,074
| |
2018
|
11
|
5,872
| |
2019
|
14
|
8,234
| |
2020
|
4
|
2,186
| |
2021
|
5
|
1,834
| |
Subtotal UEX
|
104
|
48,641
| |
Total
|
200
|
96,160
|
9.1.
|
Drilling by UEX (2016 - 2021)
|
9.2.
|
Drilling Procedures
|
9.2.1.
|
Historical Operators (Pre-1997)
|
9.2.2.
|
UEX (2016 - 2021)
|
9.3.
|
Surveying
|
9.4.
|
Core Recovery
|
9.5.
|
SRK Comments
|
10.1.
|
PNC (1985 - 2000)
|
10.2.
|
JCU (2000 - 2016)
|
10.3.
|
UEX (2016 - 2021)
|
●
|
"Red Line" (minimal radioactivity) < 500 counts per second
|
●
|
"1 Dot" 500 - 1,999 counts per second
|
●
|
"2 Dots" 2,000 - 2,999 counts per second
|
●
|
"3 Dots" 3,000 - 3,999 counts per second
|
●
|
"4 Dots" 4,000 - 4,999 counts per second
|
●
|
"UR" (unreadable) > 5,000 counts per second
|
Element
|
Method Code
|
Detection Limit
|
Digest
|
Instrumentation
|
46 elements
|
ICP1 (Total Digestion)
|
Varies, see Table 11
|
HF + HNO3 + HClO4 hot digest plus HNO3 leach
|
ICP-OES
|
16 elements
|
ICP1 (Partial Digestion
|
Varies, see Table 11
|
HNO3 + HCl in hot water bath
|
ICP-OES
|
U3O8
|
ICP4
|
0.001%
|
Aqua Regia (3:1 HCl: HNO3)
|
ICP-OES
|
10.4.
|
Specific Gravity Data
|
10.5.
|
Quality Assurance and Quality Control Programs
|
10.5.1.
|
PNC (1985 - 2000)
|
10.5.2.
|
JCU (2000 - 2016)
|
10.5.3.
|
UEX (2016 - 2021)
|
Standard
|
Expected
|
SD*
|
Inserts
|
ID
|
Value
| ||
Low Grade U3O8 (0-1)
| |||
BL-4A & UEX01
|
0.147
|
0.0020
|
201
|
BL-2A & UEX02A
|
0.204
|
0.0040
|
53
|
UEX02
|
0.534
|
0.0030
|
3
|
Total
|
257
| ||
Medium Grade U3O8 (1-5%)
| |||
UEX03
|
1.200
|
0.0050
|
4
|
SCU02 & UEX03A
|
1.580
|
0.0325
|
48
|
Total
|
52
| ||
High Grade U3O8 (>5%)
| |||
SCU03
|
5.460
|
0.1100
|
1
|
BL-5
|
8.360
|
0.0350
|
12
|
Total
|
13
| ||
* Standard Deviation
|
10.6.
|
Security
|
10.7.
|
SRK Comments
|
Data
|
Verification
|
11.1.
|
Verifications by UEX
|
11.1.1.
|
Data Collection and Verification
|
11.2.
|
Verifications by SRK
|
11.2.1.
|
Site Visit
|
11.2.2.
|
Database Verifications
|
11.2.3.
|
Verifications of Analytical Quality Control Data
|
Total
|
(%)
|
Value*
|
SD**
|
Comment
| |
Sample Count
|
3,372
| ||||
Blanks
|
75
|
2.22%
| |||
QC samples
|
322
|
9.55%
| |||
BL-4A & UEX01
|
201
|
0.147
|
0.002
|
CANMET
| |
BL-2A & UEX02A
|
53
|
0.502
|
0.004
|
CANMET
| |
UEX02
|
3
|
0.534
|
0.003
|
CANMET
| |
UEX03
|
4
|
1.2
|
0.005
|
CANMET
| |
SCU02 & UEX03A
|
48
|
1.58
|
0.0325
|
SRC
| |
SCU03
|
1
|
5.46
|
0.11
|
SRC
| |
BL-5
|
12
|
8.36
|
0.035
|
CANMET
| |
Pulp Replicates
|
140
|
4.15%
| |||
Field Duplicates
|
81
|
2.40%
| |||
Total QC Samples
|
618
|
18.33%
| |||
* Wt% U3O8
| |||||
** Standard deviation
|
11.2.4.
|
SRK Comments
|
Mineral
|
Processing and Metallurgical Testing
|
Mineral
|
Resource Estimates
|
13.1.
|
Introduction
|
13.2.
|
Resource Estimation Procedures
|
●
|
Database compilation and verification.
|
●
|
Construction of solids to be applied as mineral resource domains.
|
●
|
Data conditioning (compositing and capping) for geostatistical analysis and variography.
|
●
|
Block modelling and grade interpolation.
|
●
|
Resource classification and validation.
|
●
|
Assessment of "reasonable prospects for eventual economic extraction" and selection of appropriate cut-off grades and
|
●
|
Preparation of the Mineral Resource Statement.
|
13.3.
|
Resource Database
|
●
|
Lithology logging including 4,260 intervals (80,743 metres).
|
●
|
Alteration logging:
|
●
|
Mineralization including 373 intervals (564 metres).
|
●
|
Density measurements including 1,979 (877 metres).
|
●
|
Structural data including major structures (130 intervals), minor structures (1,818 intervals) and oriented core measurements (2,715 intervals).
|
●
|
Checked minimum and maximum values for each value field and confirmed and edited values outside of expected ranges.
|
●
|
Checked for gaps, overlaps, and out of sequence intervals for both assay and lithology tables.
|
13.4.
|
Geological Modelling
|
13.5.
|
Statistical Analysis and Compositing
|
13.6.
|
Evaluation of Outliers
|
●
|
Ken Pen - 10 percent U3O8.
|
●
|
Paul Bay - 30 percent U3O8.
|
●
|
Ōrora High-Grade - 33 percent U3O8.
|
●
|
Ōrora Low-Grade - 3 percent U3O8.
|
Uncapped Data
|
Capped Data
|
Capping Stats
| |||||||||||
Domain
|
Domain Code
|
Number
|
Mean (%)
|
Std. Dev.
|
Max. (%)
|
CoV*
|
Mean (%)
|
Std. Dev.
|
Max. (%)
|
CoV*
|
Reduction in the Mean
|
Percent Capped
| |
Paul Bay
|
200
|
834
|
1.44
|
5.92
|
70
|
4.11
|
1.22
|
3.99
|
30
|
3.27
|
-15%
|
1%
| |
Ken Pen
|
100
|
256
|
0.88
|
2.56
|
18.87
|
2.91
|
0.77
|
1.92
|
10
|
2.49
|
-13%
|
2%
| |
Ōrora High Grade
|
301
|
51
|
16.65
|
15.94
|
73.8
|
0.96
|
14.54
|
11.16
|
33
|
0.77
|
-13%
|
12%
| |
Ōrora Low Grade
|
302
|
498
|
0.27
|
0.73
|
8.38
|
2.7
|
0.24
|
0.49
|
3
|
2.04
|
-11%
|
1%
| |
* CoV=Coefficient of Variation
| |||||||||||||
13.7.
|
Specific Gravity
|
13.8.
|
Statistical Analysis and Variography
|
Domain
|
Structure
|
Sill Contribution
|
Ranges1
|
Rotation Angles1
| ||||||
X (m)
|
Y (m)
|
Z (m)
|
Z
|
X
|
Y
| |||||
All
|
C0
|
Nugget
|
0.1
|
-
|
-
|
-
|
-
|
-
|
-
| |
C1
|
Exp
|
0.78
|
9
|
12
|
2.4
|
125
|
33
|
0
| ||
C2
|
Sph
|
0.12
|
20
|
30
|
15
|
125
|
33
|
0
| ||
1 Ranges and rotations expressed in Datamine's Z-X-Y rotation convention
|
13.9.
|
Block Model and Grade Estimation
|
Axis
|
Block Size (metres)
|
Origin*
|
Number of Cells
|
Rotation Angle
| |
Parent
|
Sub cell
| ||||
X
|
5
|
1
|
507,420
|
60
|
0
|
Y
|
10
|
1
|
6,411,550
|
105
|
0
|
Z
|
2.5
|
0.5
|
-95
|
76
|
35
|
* NAD83, Zone 13N
|
Pass
|
Search Distances
|
Composites
|
Dynamic Anisotropy
|
Capping Thresholds U3O8 (%)
| |||||||
X
(m)
|
Y (m)
|
Z
(m)
|
Min
|
Max
|
Max per Hole
|
Paul Bay
|
Ken Pen
|
Ōrora
High Grade
|
Ōrora
Low Grade
| ||
1
|
5
|
2.5
|
1.25
|
1
|
5
|
-
|
No
|
30
|
10
|
33
|
3
|
2
|
20
|
30
|
7.50
|
6
|
12
|
5
|
Yes
|
30
|
10
|
33
|
3
|
3
|
40
|
60
|
15.00
|
6
|
16
|
5
|
Yes
|
8
|
5
|
33
|
3
|
4
|
60
|
90
|
22.50
|
1
|
20
|
5
|
Yes
|
8
|
5
|
33
|
3
|
13.10.
|
Model Validation
|
13.11.
|
Mineral Resource Classification
|
13.12.
|
Mineral Resource Statement
|
Item
|
Unit
|
Value
|
Mining Cost
|
C$/t
|
110
|
Surface Transportation Cost
|
C$/t
|
16
|
Processing Cost
|
C$/t
|
80
|
G&A Cost
|
C$/t
|
105
|
Total Cost
|
C$/t
|
311
|
Processing Recovery
|
%
|
97
|
Uranium Price
|
US$/lb
|
50
|
Exchange Rate
|
US$/C$
|
0.72
|
Uranium price
|
C$/lb
|
69.4
|
Conversion Factor
|
lb/%
|
22.046
|
U3O8 Price
|
C$/%
|
1531
|
COG (U3O8)
|
%
|
0.2
|
SRK Consulting (Canada) Inc., December 31, 2021
Deposit
|
Tonnage
|
Grade
|
Contained Metal
|
(000s)
|
(% U3O8)
|
(Mlb U3O8)
| |
Inferred Mineral Resources
| |||
Paul Bay
|
338
|
1.81
|
13.49
|
Ken Pen
|
149
|
1.05
|
3.44
|
Ōrora
|
102
|
1.53
|
3.41
|
Total
|
588
|
1.57
|
20.35
|
* Mineral resources are not mineral reserves and have not demonstrated economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. Reported at a cut-off grade of 0.2% U3O8.
|
13.13.
|
Grade Sensitivity Analysis
|
Cut-off Grade
|
Quantity
|
Grade
|
Contained Metal
|
(% U3O8)
|
(000s Tonnes)
|
(% U3O8)
|
(Mlb U3O8)
|
0.10
|
770
|
1.23
|
20.95
|
0.20
|
588
|
1.57
|
20.35
|
0.30
|
474
|
1.89
|
19.73
|
0.40
|
398
|
2.18
|
19.15
|
0.50
|
348
|
2.43
|
18.66
|
0.60
|
319
|
2.61
|
18.30
|
0.70
|
290
|
2.80
|
17.90
|
0.80
|
261
|
3.03
|
17.42
|
0.90
|
237
|
3.25
|
16.97
|
1.00
|
221
|
3.42
|
16.62
|
13.14.
|
Recommendations
|
●
|
Additional exploration drilling to verify the extension of the existing zones as well as the discovery of new mineralized zones.
|
●
|
Additional infill exploration drilling in order to increase the resources category to Indicated in the high-grade areas of the Paul Bay and Ōrora zones.
|
Adjacent
|
Properties
|
14.1.
|
The McArthur River Mine (Cameco)
|
Recommendations
|
●
|
Additional areas of uranium mineralization along the Yalowega Trend.
|
●
|
The remainder of the P2 structural corridor to the southwest of the three main zones.
|
●
|
The southern conductive corridor(s).
|
17.1.
|
Phase 1
|
Direct Costs
|
Phase I Budget (C$)
| |
Personnel
|
$550,000
| |
Field Equipment Costs
|
$150,000
| |
Analysis
|
$100,000
| |
Travel and Transport
|
$50,000
| |
Miscellaneous
|
$14,545
| |
Total Direct Costs
|
$864,545
| |
Contractor Costs
| ||
Geophysical Surveys
|
$20,000
| |
Diamond Drilling
|
$4,100,000
| |
Camp Costs
|
$450,000
| |
Other Contractor
|
$20,000
| |
Total Contractor Costs
|
$4,590,000
| |
Total Project Costs
|
$5,454,545
| |
Administration Fee (10%)
|
$545,455
| |
Total Joint Venture Costs
|
$6,000,000
| |
Partner's Share
| ||
UEX Corporation (60%)
|
$3,932,991
| |
JCU Canada Exploration Company (40%)
|
$2,067,069
| |
Total Partner Share
|
$6,000,000
|
17.2.
|
Phase 2
|
Area
|
Holes
|
Avg Length (m)
|
Total Metres
|
Cost/m (C$)
|
Cost
(C$)
|
Total
(C$)
| |
Geophysics
|
Lines
|
Length
|
Total km
|
Unit Cost
|
Cost
|
Total
| |
South Conductors
|
17
|
3
|
51
|
$2,750
|
$140,000
| ||
Line-cutting
|
17
|
3
|
51
|
$1,175
|
$60,000
| ||
Grassroots Drilling
| |||||||
South Conductor
|
10
|
600
|
6,000
|
$300
|
$1,800,000
| ||
Total
|
$2,000,000
| ||||||
Total Phase 2 - Christie Lake Exploration Budget
|
$2,000,000
|
17.3.
|
Metallurgical Test Work
|
17.4.
|
Comment
|
Drill hole ID
|
Azimuth
|
Dip
|
Length
|
Easting*
|
Northing*
|
Elevation
|
(metre)
|
(metre)
|
(metre)
|
(metre)
| |||
CB88-001
|
221
|
-88
|
497.7
|
505,483.7
|
6,410,316.2
|
505.5
|
CB88-002
|
188
|
-88
|
534.5
|
505,424.4
|
6,410,936.5
|
534.3
|
CB88-003
|
228
|
-89
|
471.5
|
506,450.6
|
6,410,564.9
|
501.0
|
CB89-004
|
0
|
-90
|
553.5
|
507,573.0
|
6,411,541.0
|
501.6
|
CB89-005
|
53
|
-89
|
480.7
|
506,793.5
|
6,411,357.6
|
503.8
|
CB89-006
|
108
|
-88
|
532.5
|
504,675.1
|
6,410,269.0
|
500.0
|
CB89-007
|
0
|
-90
|
547.5
|
507,570.2
|
6,411,571.4
|
501.6
|
CB89-008
|
328
|
-89
|
517.2
|
507,567.5
|
6,411,600.6
|
501.6
|
CB89-009
|
0
|
-90
|
535.5
|
507,674.6
|
6,411,573.8
|
501.7
|
CB92-010
|
172
|
-73
|
596.0
|
507,607.4
|
6,411,721.7
|
511.7
|
CB92-011
|
170
|
-78
|
551.0
|
507,607.4
|
6,411,722.5
|
511.7
|
CB92-012
|
158
|
-72
|
68.0
|
507,517.5
|
6,411,594.8
|
501.6
|
CB92-012A
|
147
|
-76
|
559.0
|
507,517.6
|
6,411,594.2
|
500.4
|
CB92-013
|
155
|
-83
|
491.0
|
507,518.6
|
6,411,595.7
|
501.6
|
CB92-014
|
158
|
-79
|
574.0
|
507,606.5
|
6,411,725.9
|
511.7
|
CB92-015
|
155
|
-75
|
596.0
|
507,606.1
|
6,411,729.5
|
511.7
|
CB92-015A
|
148
|
-74
|
41.0
|
507,607.0
|
6,411,725.9
|
511.7
|
CB92-016
|
309
|
-89
|
506.0
|
507,697.0
|
6,412,037.5
|
502.0
|
CB92-017
|
119
|
-79
|
572.0
|
507,529.2
|
6,411,592.6
|
501.6
|
CB92-018
|
141
|
-78
|
617.0
|
507,567.6
|
6,411,593.3
|
501.6
|
CB92-019
|
115
|
-83
|
500.0
|
507,517.1
|
6,411,601.3
|
501.6
|
CB92-020
|
147
|
-87
|
497.0
|
507,561.8
|
6,411,682.8
|
509.4
|
CB92-021
|
148
|
-84
|
498.0
|
507,588.4
|
6,411,706.3
|
510.9
|
CB93-022
|
0
|
-90
|
482.0
|
507,699.3
|
6,411,953.9
|
502.0
|
CB93-022A
|
15
|
-88
|
23.0
|
507,701.5
|
6,411,957.1
|
502.0
|
CB93-023
|
102
|
-89
|
479.0
|
507,612.2
|
6,411,724.9
|
511.8
|
CB93-023A
|
15
|
-88
|
32.0
|
507,612.2
|
6,411,724.9
|
511.8
|
CB93-024
|
31
|
-89
|
560.0
|
507,717.1
|
6,411,860.3
|
512.8
|
CB93-025
|
319
|
-89
|
485.0
|
507,646.8
|
6,411,779.7
|
509.6
|
CB93-026
|
316
|
-89
|
476.0
|
507,445.7
|
6,411,341.4
|
501.0
|
CB93-027
|
241
|
-89
|
485.0
|
507,521.3
|
6,411,548.1
|
501.6
|
CB93-028
|
18
|
-89
|
559.4
|
507,588.4
|
6,411,499.7
|
501.3
|
CB93-029
|
0
|
-90
|
464.0
|
507,841.6
|
6,412,143.2
|
502.0
|
CB93-030
|
0
|
-90
|
547.0
|
507,753.9
|
6,411,862.1
|
514.5
|
CB93-031
|
278
|
-89
|
550.0
|
507,729.6
|
6,411,808.3
|
512.1
|
CB93-032
|
25
|
-89
|
521.0
|
507,693.8
|
6,411,832.1
|
512.9
|
CB93-033
|
205
|
-89
|
503.0
|
507,667.6
|
6,411,781.2
|
511.4
|
CB93-034
|
0
|
-90
|
485.0
|
507,645.0
|
6,411,751.5
|
511.5
|
CB94-035
|
222
|
-89
|
543.0
|
507,849.9
|
6,411,983.8
|
512.5
|
CB94-036
|
160
|
-89
|
503.3
|
507,725.9
|
6,411,891.0
|
511.8
|
CB94-037
|
221
|
-89
|
482.0
|
507,929.5
|
6,412,148.2
|
502.0
|
CB94-038
|
153
|
-84
|
512.0
|
507,846.3
|
6,412,089.8
|
502.0
|
CB94-039
|
165
|
-84
|
196.0
|
507,928.0
|
6,412,157.6
|
502.0
|
CB94-040
|
97
|
-82
|
530.0
|
507,845.5
|
6,412,100.1
|
502.0
|
CB94-041
|
70
|
-89
|
491.0
|
508,064.1
|
6,412,275.8
|
502.1
|
CB94-042
|
119
|
-86
|
128.0
|
504,405.6
|
6,409,974.9
|
500.0
|
CB94-043
|
60
|
-89
|
542.0
|
508,356.6
|
6,412,563.4
|
504.0
|
CB94-044
|
160
|
-87
|
497.0
|
504,424.0
|
6,409,871.2
|
511.7
|
CB94-045
|
35
|
-89
|
607.0
|
507,998.6
|
6,412,200.5
|
502.0
|
CB94-046
|
214
|
-89
|
238.0
|
505,179.7
|
6,410,888.8
|
541.6
|
CB94-046A
|
259
|
-88
|
570.0
|
505,179.7
|
6,410,888.8
|
541.6
|
Drill hole ID
|
Azimuth
|
Dip
|
Length
|
Easting*
|
Northing*
|
Elevation
|
(metre)
|
(metre)
|
(metre)
|
(metre)
| |||
CB94-047
|
143
|
-87
|
542.0
|
508,056.6
|
6,412,405.2
|
499.7
|
CB94-048
|
335
|
-89
|
533.0
|
505,764.3
|
6,410,635.8
|
532.5
|
CB94-049
|
0
|
-90
|
494.0
|
507,962.3
|
6,412,228.6
|
502.0
|
CB94-050
|
4
|
-89
|
501.0
|
508,030.1
|
6,412,318.8
|
502.0
|
CB94-051
|
332
|
-85
|
490.0
|
508,113.0
|
6,412,350.7
|
499.8
|
CB94-052
|
6
|
-86
|
545.0
|
505,910.3
|
6,410,765.7
|
543.8
|
CB94-053
|
39
|
-89
|
467.0
|
507,249.2
|
6,411,167.2
|
501.0
|
CB95-054
|
338
|
-89
|
659.0
|
508,500.6
|
6,412,982.3
|
506.0
|
CB95-055
|
63
|
-88
|
593.0
|
506,028.0
|
6,410,924.6
|
549.4
|
CB95-056
|
297
|
-84
|
497.0
|
508,113.4
|
6,412,330.3
|
499.8
|
CB95-057
|
299
|
-88
|
131.3
|
506,128.5
|
6,411,105.0
|
538.5
|
CB95-057A
|
197
|
-88
|
581.0
|
506,120.7
|
6,411,110.0
|
538.1
|
CB95-058
|
164
|
-84
|
614.0
|
508,517.2
|
6,412,913.3
|
504.0
|
CB95-059
|
281
|
-84
|
638.0
|
506,088.0
|
6,411,164.1
|
541.3
|
CB95-060
|
335
|
-89
|
470.0
|
508,151.2
|
6,412,473.1
|
504.0
|
CB95-061
|
198
|
-89
|
597.5
|
506,136.9
|
6,411,365.9
|
555.8
|
CB95-062
|
327
|
-89
|
500.0
|
508,270.2
|
6,412,644.6
|
504.0
|
CB95-063
|
288
|
-86
|
541.0
|
506,336.2
|
6,411,448.3
|
522.3
|
CB95-064
|
316
|
-83
|
488.0
|
508,384.9
|
6,412,804.1
|
504.0
|
CB95-065
|
317
|
-87
|
559.0
|
505,870.3
|
6,411,069.7
|
546.0
|
CB95-066
|
179
|
-89
|
515.0
|
507,965.3
|
6,412,174.6
|
502.0
|
CB95-067
|
114
|
-89
|
500.0
|
508,367.5
|
6,412,818.4
|
504.0
|
CB95-068
|
218
|
-84
|
568.0
|
506,099.2
|
6,411,159.9
|
539.9
|
CB95-069
|
158
|
-87
|
503.0
|
507,599.8
|
6,411,716.0
|
511.4
|
CB95-070
|
261
|
-88
|
560.0
|
505,759.8
|
6,410,903.5
|
538.0
|
CB95-071
|
34
|
-85
|
505.5
|
507,767.3
|
6,411,923.4
|
511.8
|
CB96-072
|
176
|
-89
|
521.0
|
507,690.8
|
6,411,806.3
|
513.0
|
CB96-073
|
0
|
-90
|
509.6
|
508,442.9
|
6,412,887.9
|
504.0
|
CB96-074
|
279
|
-89
|
482.6
|
508,188.8
|
6,412,573.5
|
504.0
|
CB96-075
|
0
|
-90
|
482.0
|
508,000.9
|
6,412,279.8
|
502.0
|
CB96-076
|
103
|
-89
|
536.0
|
507,371.9
|
6,411,056.9
|
522.8
|
CB96-077
|
134
|
-85
|
611.0
|
507,579.7
|
6,411,466.4
|
501.0
|
CB96-078
|
159
|
-89
|
500.0
|
507,951.3
|
6,412,185.3
|
502.0
|
CB96-079
|
110
|
-89
|
551.0
|
508,431.7
|
6,412,829.8
|
504.0
|
CB96-080
|
334
|
-89
|
528.0
|
505,797.2
|
6,410,597.6
|
531.9
|
CB96-081
|
0
|
-90
|
533.0
|
508,214.8
|
6,412,548.5
|
504.0
|
CB96-082
|
277
|
-89
|
545.0
|
505,982.0
|
6,410,969.4
|
548.0
|
CB96-083
|
157
|
-89
|
527.0
|
507,297.2
|
6,410,840.0
|
519.7
|
CB96-084
|
71
|
-86
|
500.0
|
506,628.3
|
6,411,464.2
|
511.6
|
CB97-085
|
0
|
-90
|
552.0
|
507,740.7
|
6,411,833.3
|
513.1
|
CB97-086
|
58
|
-89
|
588.0
|
507,635.5
|
6,411,527.0
|
501.6
|
CB97-087
|
141
|
-88
|
612.0
|
507,671.6
|
6,411,558.4
|
501.6
|
CB97-088
|
115
|
-86
|
552.0
|
507,590.5
|
6,411,487.8
|
501.6
|
CB97-089
|
352
|
-88
|
492.0
|
507,236.4
|
6,410,636.9
|
508.4
|
MAC-189
|
0
|
-90
|
479.0
|
509,451.0
|
6,407,659.0
|
499.0
|
Total
|
47,520.7
| |||||
* UTM NAD83 Zone13 North
|
Drill hole ID
|
Azimuth
|
Dip
|
Length
|
Easting*
|
Northing*
|
Elevation
|
(metre)
|
(metre)
|
(metre)
|
(metre)
| |||
CB-090
|
350
|
-78
|
380.0
|
507,604.4
|
6,411,451.1
|
500.5
|
CB-090A
|
350
|
-78
|
616.0
|
507,604.4
|
6,411,451.1
|
500.5
|
CB-091
|
341
|
-76
|
60.0
|
507,644.0
|
6,411,305.0
|
540.0
|
CB-091A
|
338
|
-76
|
267.0
|
507,645.0
|
6,411,305.4
|
539.2
|
CB-091B
|
338
|
-76
|
708.0
|
507,645.0
|
6,411,305.4
|
539.3
|
CB-092
|
315
|
-80
|
597.0
|
507,639.7
|
6,411,489.8
|
500.3
|
CB-092-1
|
315
|
-80
|
560.4
|
507,639.7
|
6,411,489.8
|
500.3
|
CB-092-2
|
315
|
-80
|
570.0
|
507,639.7
|
6,411,489.8
|
500.3
|
CB-093
|
330
|
-77
|
567.0
|
507,640.1
|
6,411,490.2
|
500.6
|
CB-094
|
315
|
-78
|
726.0
|
507,698.7
|
6,411,357.3
|
540.5
|
CB-094-1
|
315
|
-78
|
717.0
|
507,698.7
|
6,411,357.3
|
540.5
|
CB-095
|
315
|
-78
|
60.0
|
507,706.2
|
6,411,380.1
|
539.8
|
CB-095A
|
315
|
-78
|
735.0
|
507,706.1
|
6,411,380.2
|
539.5
|
CB-096
|
315
|
-82
|
603.0
|
507,604.6
|
6,411,452.2
|
500.5
|
CB-096-1
|
315
|
-82
|
615.0
|
507,604.6
|
6,411,452.2
|
500.5
|
CB-097
|
312
|
-84
|
600.0
|
507,682.0
|
6,411,530.2
|
500.6
|
CB-098
|
310
|
-72
|
578.4
|
507,681.8
|
6,411,530.3
|
500.5
|
CB-099
|
311
|
-73
|
609.0
|
507,663.8
|
6,411,509.3
|
501.4
|
CB-100
|
312
|
-77
|
45.0
|
507,750.2
|
6,411,772.7
|
500.3
|
CB-100A
|
308
|
-77
|
530.0
|
507,750.2
|
6,411,772.7
|
500.3
|
CB-100A-1
|
308
|
-77
|
270.0
|
507,750.2
|
6,411,772.7
|
500.3
|
CB-101
|
311
|
-83
|
600.0
|
507,664.2
|
6,411,509.7
|
501.0
|
CB-102
|
276
|
-85
|
600.0
|
507,663.9
|
6,411,509.2
|
501.6
|
CB-103
|
312
|
-75
|
87.0
|
507,757.4
|
6,411,777.7
|
500.4
|
CB-103A
|
312
|
-75
|
516.0
|
507,757.4
|
6,411,777.7
|
500.4
|
CB-104
|
311
|
-81
|
540.0
|
507,758.3
|
6,411,828.6
|
512.5
|
CB-105
|
300
|
-85
|
552.0
|
507,731.3
|
6,411,763.8
|
500.6
|
CB-106
|
297
|
-82
|
33.0
|
507,757.1
|
6,411,828.8
|
512.5
|
CB-106A
|
297
|
-82
|
21.0
|
507,757.1
|
6,411,828.8
|
512.5
|
CB-106B
|
296
|
-82
|
529.2
|
507,757.1
|
6,411,828.8
|
512.5
|
CB-107
|
307
|
-80
|
21.0
|
507,731.7
|
6,411,764.3
|
500.6
|
CB-107A
|
307
|
-80
|
529.5
|
507,731.7
|
6,411,764.3
|
500.6
|
CB-107A-1
|
307
|
-80
|
498.0
|
507,731.7
|
6,411,764.3
|
500.6
|
CB-108
|
316
|
-74
|
55.3
|
507,703.1
|
6,411,368.2
|
540.5
|
CB-108A
|
316
|
-73
|
651.0
|
507,703.1
|
6,411,368.2
|
540.5
|
CB-108A-1
|
316
|
-73
|
651.0
|
507,703.1
|
6,411,368.2
|
540.5
|
CB-109
|
307
|
-66
|
561.0
|
508,160.7
|
6,412,196.5
|
517.3
|
CB-109-1
|
307
|
-66
|
555.0
|
508,160.7
|
6,412,196.5
|
517.3
|
CB-110
|
307
|
-67.5
|
36.0
|
508,168.8
|
6,412,222.7
|
516.9
|
CB-110A
|
307
|
-67.5
|
549.0
|
508,168.8
|
6,412,222.7
|
516.9
|
CB-110A-1
|
307
|
-67.5
|
555.0
|
508,168.8
|
6,412,222.7
|
516.9
|
CB-111
|
307
|
-68
|
33.0
|
508,171.7
|
6,412,220.5
|
517.1
|
CB-111A
|
307
|
-68
|
543.0
|
508,171.7
|
6,412,220.5
|
517.1
|
CB-112
|
323
|
-79
|
549.0
|
507,638.4
|
6,411,487.8
|
500.6
|
CB-112-1
|
323
|
-79
|
538.0
|
507,638.4
|
6,411,487.8
|
500.6
|
CB-113
|
307
|
-81
|
540.0
|
507,638.4
|
6,411,487.8
|
500.6
|
CB-114
|
307
|
-68
|
32.0
|
508,148.3
|
6,412,184.9
|
517.9
|
CB-114A
|
308
|
-68.5
|
32.0
|
508,148.3
|
6,412,184.9
|
517.9
|
CB-114B
|
310
|
-68.5
|
32.0
|
508,148.3
|
6,412,184.9
|
517.9
|
CB-114C
|
308
|
-68.5
|
548.0
|
508,148.3
|
6,412,184.9
|
517.9
|
CB-114C-1
|
308
|
-68.5
|
542.0
|
508,148.3
|
6,412,184.9
|
517.9
|
Drill hole ID
|
Azimuth
|
Dip
|
Length
|
Easting*
|
Northing*
|
Elevation
|
(metre)
|
(metre)
|
(metre)
|
(metre)
| |||
CB-115
|
310
|
-80
|
486
|
507,702.4
|
6,411,746.9
|
500.5
|
CB-116
|
310
|
-66.5
|
33
|
508,132.7
|
6,412,168.2
|
518
|
CB-116A
|
310
|
-66.5
|
540
|
508,132.7
|
6,412,168.2
|
518
|
CB-116A-1
|
310
|
-66.5
|
531
|
508,132.7
|
6,412,168.2
|
518
|
CB-116A-2
|
310
|
-66.5
|
537
|
508,132.7
|
6,412,168.2
|
518
|
CB-117
|
310
|
-78
|
516
|
507,730.0
|
6,411,723.0
|
500
|
CB-118
|
306
|
-67
|
534
|
508,114.2
|
6,412,143.2
|
517.8
|
CB-118-1
|
306
|
-67
|
558
|
508,114.2
|
6,412,143.2
|
517.8
|
CB-118-2
|
306
|
-67
|
532.3
|
508,114.2
|
6,412,143.2
|
517.8
|
CB-119
|
308
|
-69
|
39
|
508,186.8
|
6,412,237.4
|
516.8
|
CB-119A
|
305
|
-67
|
30
|
508,186.8
|
6,412,237.4
|
516.8
|
CB-119B
|
305
|
-67
|
565
|
508,186.8
|
6,412,237.4
|
516.8
|
CB-120
|
304
|
-70
|
549
|
508,096.3
|
6,412,118.9
|
519.6
|
CB-120-1
|
304
|
-70
|
525
|
508,096.3
|
6,412,118.9
|
519.6
|
CB-121
|
304
|
-70
|
531
|
508,057.0
|
6,412,088.7
|
519.6
|
CB-122
|
305
|
-63.5
|
561
|
508,076.7
|
6,412,104.5
|
519.3
|
CB-122-1
|
305
|
-63.5
|
372
|
508,076.7
|
6,412,104.5
|
519.3
|
CB-122-2
|
305
|
-63.5
|
540
|
508,076.7
|
6,412,104.3
|
519.3
|
CB-123
|
305
|
-73
|
594
|
508,141.0
|
6,412,177.1
|
517.8
|
CB-124
|
303
|
-63
|
597
|
508,339.4
|
6,412,363.4
|
516.7
|
CB-124-1
|
303
|
-63
|
566
|
508,339.4
|
6,412,363.4
|
516.7
|
CB-125
|
308
|
-75
|
525.4
|
508,287.3
|
6,412,552.7
|
500.2
|
CB-126
|
308
|
-76
|
531
|
508,393.5
|
6,412,668.3
|
500.2
|
CB-127
|
302
|
-78
|
540
|
508,502.5
|
6,412,841.5
|
500.2
|
CB-128
|
304
|
-78
|
534
|
508,589.0
|
6,412,896.6
|
500.2
|
CB-129
|
306
|
-77.5
|
506.8
|
508,124.3
|
6,412,302.6
|
501.8
|
CB-130
|
304
|
-69
|
525
|
508,024.7
|
6,412,051.5
|
519.8
|
CB-131
|
300
|
-70
|
542
|
507,967.4
|
6,411,967.0
|
514.7
|
CB-132
|
300
|
-75
|
522
|
507,899.0
|
6,411,928.0
|
515.3
|
CB-133
|
300
|
-80
|
520.4
|
507,804.3
|
6,411,877.4
|
514.1
|
CB-134
|
301
|
-80
|
528
|
507,841.7
|
6,411,911.7
|
516.1
|
CB-135
|
300
|
-70
|
549
|
505,869.0
|
6,41,0538.4
|
525.1
|
CB-136
|
303
|
-69.5
|
516
|
507,380.6
|
6,410,747.5
|
508.2
|
CB-137
|
300
|
-69
|
538.6
|
505,579.1
|
6,410,206.1
|
508.1
|
CB-138
|
310
|
-79
|
555
|
507,380.7
|
6,410,747.4
|
508.1
|
CB-139
|
305
|
-71
|
666
|
506,126.1
|
6,410,833.5
|
549.5
|
CB-140
|
309
|
-70
|
636
|
507,687.3
|
6,411,168.1
|
542.3
|
CB-141
|
308
|
-71
|
663
|
506,194.3
|
6,411,049.6
|
552.5
|
CB-142
|
307
|
-71
|
573
|
508,054.0
|
6,412,463.0
|
499.6
|
CB-143
|
308
|
-81
|
540
|
508,070.1
|
6,412,437.8
|
499.9
|
CB-144
|
308
|
-70
|
645
|
506,278.6
|
6,411,103.3
|
552.3
|
CB-145
|
318
|
-84
|
531
|
508,079.4
|
6,412,419.0
|
499.5
|
CB-146
|
307
|
-68
|
630
|
506,166.2
|
6,410,939.1
|
552.1
|
CB-147
|
310
|
-66
|
579
|
505,393.6
|
6,409,717.9
|
534.0
|
CB-148
|
303
|
-76
|
612
|
506,166.4
|
6,410,938.8
|
552.4
|
CB-149
|
311
|
-71.5
|
527
|
507,994.9
|
6,412,500.1
|
500.2
|
CB-150
|
305
|
-72
|
545
|
508,758.1
|
6,413,157.8
|
506.6
|
CB-151
|
305
|
-78
|
542
|
508,771.7
|
6,413,147.8
|
507.5
|
CB-152
|
328
|
-68
|
572
|
508,248.6
|
6,412,299.2
|
515.4
|
CB-153
|
302
|
-81
|
176
|
508,776.7
|
6,413,142.7
|
507.5
|
CB-153A
|
293
|
-79
|
542
|
508,803.5
|
6,413,147.7
|
506.6
|
CB-154
|
302
|
-79
|
2
|
508,731.3
|
6,413,033.9
|
506.6
|
CB-154A
|
302
|
74
|
548
|
508,732.9
|
6,413,032.8
|
506.5
|
Total
|
48,641
| |||||
* UTM NAD83 Zone13 North
|
1)
|
I am a Principal Consultant (Resource Geology) with the firm of SRK Consulting (Canada) Inc. (SRK) with an office at Suite 1500, 155 University Avenue, Toronto, Ontario, Canada;
| |
2)
|
I am a graduate of the University of Cape Town in South Africa with a BSc (Hons) in Geology in 1983; I obtained a MSc (Geology) from the University of Johannesburg in South Africa in 1995 and a MEng in Mineral Economics from the University of the Witwatersrand in South Africa in 1999. I have practiced my profession continuously since 1986. Between 1986 and 2005, I worked at several exploration projects, underground and open pit mining operations in Africa and held various senior positions, with the responsibility for estimation of Mineral Resources and Mineral Reserves for development projects and operating mines. Since 1986, I have worked on various styles of uranium deposits in South Africa, Niger, Wyoming (USA) and within the Athabasca Basin in Canada;
| |
3)
|
I am a professional Geoscientist registered with the Association of Professional Engineers & Geoscientists of Saskatchewan (APEGS# 26003) and with the Association of Professional Geoscientists of Ontario (APGO#1416);
| |
4)
|
I have personally inspected the subject project during September 18 to September 21, 2018;
| |
5)
|
I have read the definition of Qualified Person set out in National Instrument 43-101 and certify that by virtue of my education, affiliation to a professional association, and past relevant work experience, I fulfill the requirements to be a Qualified Person for the purposes of National Instrument 43-101 and this technical report has been prepared in compliance with National Instrument 43-101 and Form 43-101F1;
| |
6)
|
I, as a Qualified Person, I am independent of the issuer as defined in Section 1.5 of National Instrument 43-101;
| |
7)
|
I am the author of this report and am responsible for all the sections of this report, and accept professional responsibility for this technical report;
| |
8)
|
I have read National Instrument 43-101 and confirm that this technical report has been prepared in compliance therewith;
| |
9)
|
SRK Consulting (Canada) Inc. was retained by UEX Corporation to prepare a technical audit of the Christie Lake Uranium Project. In conducting our audit, a gap analysis of project technical data was completed using CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and Canadian Securities Administrators National Instrument 43-101 guidelines. The preceding report is based on a site visit, a review of project files and discussions with UEX Corporation personnel;
| |
10)
|
I have not received, nor do I expect to receive, any interest, directly or indirectly, in the Christie Lake Project or securities of UEX Corporation; and
| |
11)
|
That, as of the date of this certificate, to the best of my knowledge, information and belief, this technical report contains all scientific and technical information that is required to be disclosed to make the technical report not misleading.
| |
Toronto, Ontario
June 7, 2022
|
["Original signed and sealed"]
Glen Cole, PGeo. (APEGS# 26003 and APGO#1416)
Principal Consultant (Resource Geology)
| |
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Denison Mines Corp. published this content on 27 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2023 23:24:52 UTC.