Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
UEX Corporation (TSX: UEX) has received the final drill assays from last winter’s program at West Bear nickel-copper project in Saskatchewan. The results allow the company to extend the Michael Lake zone by 200 metrrs and include the widest interval so far encountered.
Hole MIC-015, beginning at 154.5 metres, returned 34 metres of mineralization grading 0.02% nickel and 0.03% cobalt, the widest interval to date. The hole also contained two subintervals – one near the top of 3 metres at 0.11% nickel and 0.13% cobalt, and the other near the bottom of 9 metres at 0.04% nickel and 0.03% cobalt.
This hole extends the footprint of the Michael Lake zone by about 200 metres to the south of previously reported hole MIC-011. UEX says it has reason to believe there is continuity down dip from the earlier hole.
The West Bear property lies in Saskatchewan’s eastern Athabasca Basin. The nickel-cobalt mineralization was discovered as UEX drilled the West Bear uranium deposit between 2002 and 2005. The nickel-cobalt mineralization has a strike length of about 800 metres and ranged from 30 to 110 metres in vertical depth. The cobalt mineralization is hottest in soft, clay altered rocks that extend into the basement below the unconformity.
At the end of 2019, UEX published an indicated resource estimate with a 0.023% cobalt equivalent cut-off of 1.2 million tonnes averaging 0.19% cobalt and 0.21% nickel, for 5.1 million contained lb. cobalt and 5.7 million contained lb. nickel.
(This article first appeared in the Canadian Mining Journal)
