October 20, 2017 1:08 PM ET

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Company Overview of JCU (Canada) Exploration Company, Limited

Company Overview

JCU (Canada) Exploration Company, Limited engages in the mining and exploration of uranium and other minerals. The company is based in Canada.



Key Executives for JCU (Canada) Exploration Company, Limited

JCU (Canada) Exploration Company, Limited does not have any Key Executives recorded.

JCU (Canada) Exploration Company, Limited Key Developments

UEX Corporation and JCU (Canada) Exploration Company Limited Sign a Joint Venture Agreement for the Christie Lake Project

UEX Corporation announced the Company and JCU (Canada) Exploration Company Limited have signed a Joint Venture Agreement (JVA) for the Christie Lake Project. The Project is currently owned 10% by UEX and 90% by JCU. UEX holds an option to earn up to a 70% interest in the Project. The JVA contains industry standard terms that provide the Company with clear operating processes for the Christie Lake Project and pave the way for future development. The Joint Venture will be overseen by a Management Committee comprised of a representative from each of the Participants. The Committee has the authority to approve annual budgets and all development decisions. Each representative will have a vote equal to the equity stake of the Participant they represent. During the Option Agreement, UEX will remain the Operator of the Christie Lake Project and will have the right, at a minimum, to set the annual exploration program and budget to meet its commitments under the Option Agreement. Once the Option Agreement has been concluded and the JVA comes into effect, the initial Operator of the Joint Venture will be selected by a majority vote of the Management Committee. UEX currently holds a 10% interest in the Christie Lake Joint Venture and is working under an option agreement to earn up to a 70% interest. The Project is located approximately 9 km northeast and along strike of Cameco's McArthur River Mine. The P2 Fault, the controlling structure for all of the McArthur River deposits, continues to the northeast beyond the mine. UEX believes that through a series of en-echelon steps the northeast strike extension of the P2 Fault not only crosses the Project but also controls the two known uranium deposits on Christie Lake, the Paul Bay and Ken Pen Deposits. The Paul Bay and Ken Pen Deposits are estimated to host a combined 20.87 million pounds of U3O8 at an average grade of 3.22% U3O8 and were discovered in 1989 and 1993 respectively. This is a historic resource estimation which does not use resource classifications consistent with NI 43-101. The historical resource estimate was presented in an internal report titled Christie Lake Project, Geological Resource Estimate completed by PNC Tono Geoscience Center, Resource Analysis Group, dated September 12, 1997. The historical resource was calculated using a 3 D block model using block sizes of 2 m by 2 m by 2 m, and block grades interpolated using the inverse distance squared method over a circular search radius of 25 m and 1 m height. Specific gravities for each deposit were averaged from specific gravity measures of individual samples collected for assay. UEX plans to complete additional infill drilling on the deposits during the option earn-in period to upgrade these historic resources to indicated and inferred. A qualified person has not done sufficient work to classify the historic estimate as current mineral resources or mineral reserves. UEX is not treating the historic estimate as current mineral reserves or mineral resources.

UEX Corporation Announces the Radiometric Results of Drill Holes CB-092-2 and CB-093 Targeting the Paul Bay Deposit at the Christie Lake Project

UEX Corporation announced the radiometric results of drill holes CB-092-2 and CB-093 targeting the Paul Bay Deposit at the Christie Lake Project where UEX has a $2.75 million drill program which is currently underway. The Project is owned 10% by UEX and 90% by JCU (Canada) Exploration Company Limited. Radiometric Equivalent Grades from down-hole probe results from hole CB-093 encountered multiple mineralized intervals, the best of which returned 1.16% eU3O8 over 5.9 m (from 491.75 - 497.65 m) and included a section that averaged 3.45% eU3O8 over 1.3 m. Hole CB-092-2 also encountered multiple mineralized zones within the hole. REGs from down-hole probe results returned 1.17% eU3O8 over 1.5 m (from 512.75 - 514.25 m), including a subinterval of 1.57% eU3O8 over 1.0 m. The eU3O8 grade was estimated in-situ within the drill holes using calibrated down-hole radiometric gamma probes. Samples from holes CB-092-2 (and second offcut from hole CB-092) and CB-093 have been collected for assay analysis to confirm these equivalent grades. The samples will be analyzed at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan, with results expected in the coming weeks.

UEX Corporation and JCU (Canada) Exploration Company Limited Report Chemical Assay Results of the First Three Drill Holes of 2016 on the Christie Lake Project

UEX Corporation reported the chemical assay results of the first three drill holes of 2016 completed this winter on the Christie Lake Project where a $2.75 million drill program is scheduled to recommence in the first week of June 2016. The Project is owned 10% by UEX and 90% by JCU (Canada) Exploration Company Limited. UEX holds an option to earn up to a 70% interest in the Project. Radiometric Equivalent Grades (REGs) from down-hole probe results were previously reported on April 13, 2016. Systematic assays were collected from the mineralized zones to confirm the REGs. Due to the significant uranium grades encountered, the REGs underreported actual U3O8 grades. Highlighting the assay results was hole CB-092, which returned a much higher than expected composite assay intersection when compared to the previously reported REGs: 9.30% U3O8 over a 9.8 m interval from 496.6 ­ 504.4 m, including: 43.71% U3O8 over 2.0 m from 500.1 ­ 502.1 m. This is a substantially higher composite grade than the radiometric equivalent grade of 4.27% eU3O8 over 10.2 m, as previously reported on April 13, 2016. The assay results of CB-092 confirm it is the highest grade hole ever drilled on the Christie Lake Project to date. Hole CB-090A returned a composite assay grade of: 0.61% U3O8 over 9.8 m from 534.2 ­ 544.0 m, including: 5.33% U3O8 over 0.5 m. The composite assay grade of CB-090A also exceeded the previously reported radiometric equivalent grade of 0.38% eU3O8 over 9.1 m. Hole CB-091B was previously reported to have hosted minor uranium mineralization that occurred in several narrow and widely spaced intervals. The assay results of CB-091B showed higher than anticipated grades in these intervals that generated a composite assay grade of 0.28% U3O8 over 7.7 m from 600.0 ­ 607.7 m.

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