NexGen returns 36.5m at 10.11% U3O8 on southwest extent of higher grade A2 sub-zone
NexGen Energy has reported assay results from an additional seven angled drill holes from our highly successful summer 2015 program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
All seven holes reported have returned significant and extensive uranium mineralization. Most notably, AR-15-59c2 intersected 36.5 m at 10.11% U3O8 including 3.5 m at 52.33% U3O8 which represents another world-class intersection from the higher grade A2 sub-zone.
Hole -59c2 was drilled at the currently defined southwest extent of this continuously mineralized Sub-Zone which spans 203 m in strike length, begins at less than 400 m below surface and remains open in all directions. The Sub-Zone will be one of a number of top priorities in the winter 2016 drill program set to commence imminently.
In addition, holes AR-15-54c4 and AR-15-56c2 intersected significant intervals of uranium mineralization across substantial widths in the A2 and A3 shears, respectively. Both shears remain open in all directions, which presents an exciting growth opportunity for the Arrow zone during the winter 2016 drill program.
Assay results from a further seven holes from the summer 2015 program remain pending including holes AR-15-61c2 which intersected 21.2 m of off-scale radioactivity (>10,000 to >61,000 cps) in a formerly undrilled area of the A3 shear, and AR-15-62 which intersected 30.35 m of off-scale radioactivity in the Sub-Zone.
AR-15-59c2 (130 m up-dip and to the southwest from AR-15-44b) intersected 36.5 m at 10.11% U3O8 (495.0 to 531.5 m) including 14.5 m at 20.38% U3O8 (517.0 to 531.5 m) including 3.5 m at 52.33% U3O8 (526.5 to 530.0 m) all within the Sub-Zone.
AR-15-54c4 (125 m down-dip and to the southwest from AR-15-44b) intersected 9.5 m at 6.93% U3O8 (694.5 to 704.0 m) in the A2 high-grade shear.
AR-15-56c2 (218 m down-dip from AR-15-48c1) intersected 32.0 m at 1.58% U3O8 (746.0 to 778.0 m) in the A3 shear.
Arrow, Activities & Financial
The land-based and basement hosted Arrow zone currently covers an area of 645 m by 235 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in all directions and at depth.
The commencement of a 30,000 m winter 2016 drill program is scheduled for early January 2016.
The release of a maiden NI 43-101 resource estimate on the Arrow zone is scheduled for the first half of 2016.
The Company has cash on hand of approximately $34M.
NexGen Energy vice-president of exploration and development Garrett Ainsworth commented: "These batch of assay drill results continue to showcase the world-class nature of the Arrow zone, which is highlighted here by hole AR-15-59c2 returning 36.5m at 10.11% U3O8 at the currently defined southwest boundary of the higher grade A2 sub-zone.
"The rapid development of this zone during the summer 2015 drill program has been a huge success at Arrow. To discover the continuously mineralized higher grade A2 sub-zone whilst systematically testing the shear, highlights the potential for the discovery of additional higher grade sub-zones."
NexGen Energy CEO Leigh Curyer said: "The success at Arrow in the summer of 2015, evident by this latest batch of drill results, continues to make the case for Arrow being one of the most exciting uranium projects on the world-stage. We look forward to commencing our 30,000 m winter 2016 drill campaign at Rook I in early January which will focus on extensions of mineralization to the southwest and northeast of the Arrow zone, the higher grade A2 sub-zone, the Bow Discovery, and other high priority Rook I regional targets."
Source: Company Press Release