Uranium Energy Corp. (NYSE:UEC) +4.4% in Tuesday's trading after announcing a discovery of high-grade uranium at the Christie Lake project in Saskatchewan's Athabasca Basin.
Uranium Energy (UEC) said the discovery hole encountered high-grade mineralization that averaged 7.8% uranium oxide over 9.1 meters and included a subinterval of 26.1% eU3O8 over 2.3 meters.
A follow-up hole intersected the unconformity 13 meters to the northeast and intersected 68.7% eU3O8 over 2.1 meters, the highest-grade mineralized intersection ever encountered on the Christie Lake property, the uranium producer said.
Seven holes have been drilled into a new discovery, all of them containing uranium mineralization at or near the unconformity.
The Christie Lake intersections represent some of the largest and highest-grade drill intersections of uranium reported globally in 2022, the company said.
Christie Lake is one of 29 projects included in Uranium Emergy's (UEC) recent acquisition of UEX Corp.