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Location: 85 km W from Baker Lake, Nunavut, Canada
Baker Lake Office, General DeliveryBaker LakeNunavut, CanadaX0C 0A0
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24.0034% Orano Canada Inc.
42.1848% Urangesellschaft Canada Ltd.
Through its 50% ownership of JCU (Canada) Exploration Company, Limited (“JCU”), Denison holds indirect interests in the Kiggavik project (JCU 33.8123%).
Through its 50% ownership of JCU (Canada) Exploration Company, Limited (“JCU”), UEX holds indirect interests in the Kiggavik project (JCU 33.8123%).
On August 22, 2022, Uranium Energy Corp and UEX Corporation closed the previously announced plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act, pursuant to which UEX Corporation (UEC) acquired all of the issued and outstanding common shares of UEX that it did not already own.
Basement host rocks are composed of metasediments, and to a lesser extent altered granite and intrusive rocks. Metasediments are sedimentary rocks that have been metamorphosed (altered by heat, pressure or chemically active fluids). Intrusive rocks are igneous rocks that intrude into pre-existing rocks, along some structure. Uranium mineralization in the Kiggavik area is hosted for the most part in altered metasedimentary rocks (mainly meta-arkose, metapelites and sericite schist), and to a much lesser extent in altered granite and intrusive rocks. There is no mineralization hosted in the Mackenzie diabase which cuts through the Kiggavik property. In general the mineralization is finely disseminated along foliation planes and/or in veinlets parallel to the foliation, but can also be found as fracture infill and coating along cross-cutting structures. The two major uranium minerals are pitchblende and coffinite. Secondary uranium minerals are not common. Fine-grained uranophane occurs in weathered rocks outcropping at surface but also occasionally at greater depth. Pitchblende and coffinite are often associated with marcasite and pyrite. Other sulphides or accessory metals are present only in minor amounts, indicating the single elemental composition characteristic of the Kiggavik ore zones. The uranium mineralization is associated with an intensive alteration halo. The alteration is characterized by desilification and by the conversion of feldspar and mica to clay minerals consisting mainly of illite and sericite which is somewhat typical of unconformity type deposits.
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