Replies to post #1321 on UEX Corp fka UEX

[Destinator]

Eagle Point was mentioned by Roger in his CRUX interview.

Good timing for your post NewCoreFish. I saw that same announcement come in as I was in the process of investigating Eagle Point and MacLean Lake. I was doing so after having listened to the CRUX interview with Roger.

Here is what one write up on Eagle point states.

The Rabbit Lake Uranium District has produced more than 190 million pounds of uranium concentrates since production began in 1975

In the CRUX interview, (Somewhere after the 26 minute mark if I remember correctly) Roger mentions that he hopes to drill the Hidden Bay Border with McLean Lake and its other border with Eagle Point.

Hidden Bay is just west of Eagle Point and Collins Bay which means that it is on dryer land than the Collins Bay extension is. The Collins Bay extension seems to follow a line. That said, if you look at the maps (p. 21) in the current UEX Corporate presentation you will see just how many mines there used to be in the area of Rabbit lake, Eagle Point, Collins Bay etc. They are all over the place just like oil fields in Saudi Arabia. I have always been impressed with Hidden Bay and I do believe that some day a highly economic find will be made there. Even Doug Beattie once pointed to similarities between Arrow to Eagle point.

At McArthur River, we committed to going underground in late 1992 with the understanding that we had a resource of 260 million pounds U3O8. This was sufficient to justify the capital to go take a closer look. I believe that the total mined to date plus still in the reserve column now totals over 600 million pounds U3O8. Under no circumstances am I implying that this will be the outcome at Arrow, I just want to point out that at some point you need to plan to get underground and not worry about putting more pounds in the inferred resource column from surface.

At McArthur River, we committed to going underground in late 1992 with the understanding that we had a resource of 260 million pounds U3O8. This was sufficient to justify the capital to go take a closer look. I believe that the total mined to date plus still in the reserve column now totals over 600 million pounds U3O8. Under no circumstances am I implying that this will be the outcome at Arrow, I just want to point out that at some point you need to plan to get underground and not worry about putting more pounds in the inferred resource column from surface.

Eagle Point is a similar case. The ore zones currently being mined (quote is from 2015) were all defined by underground drilling after surface drilling indicated that there may be something of interest in the area.

Now go back to the UEX Mid-August 2019 presentation (p. 22) and see what UEX says about basement targets at Hidden Bay.

As Roger points out in the Crux interview. UEX is a Portfolio play. A portfolio play can produce projects if it had the luxury of selecting many targets in the early days of the Athabasca staking days.