UEX Corp. said Dec. 13 that it plans to spend around C$4.3 million on a winter drill program at its West Bear cobalt-nickel deposit in Saskatchewan.
The company said it expects the winter program to start in early January 2019, which will consist of 17,000 meters of drilling of about 110 to 160 holes and will focus on extending very high-grade cobalt mineralization currently defining the western end of West Bear. Drilling will also focus on extending high-grade mineralization down-plunge and along strike to the southeast.
A previous drill program included significant results from hole WBC-012 that assayed 4.90% cobalt and 2.08% nickel over 8 meters from 77 to 85 meters, and hole WBC-001, which intersected 2.00% cobalt and 1.26% nickel over a 10.5 meter core length between 46 meters and 56.5 meters.
Following the winter drill program, UEX will be able to start studies to determine the viability of the deposit in the second half of 2019.
In September, UEX announced a C$6 million bought-deal offering for exploration expenses in Saskatchewan.