NexGen Energy drills 42 metres of 15.20% U3O8 at Rook I

NexGen Energy Ltd. [NXE-TSXV] has released assay results for five angled holes from its winter 2016 drilling program on the 100%-owned Rook I property, Athabasca Basin, northern Saskatchewan.

Hole AR-16-63c2 has intersected 42.0 metres at 15.20% triuranium octoxide (U3O8) and an additional 46.5 metres of 12.99% U3O8 in the higher-grade A2 subzone. When including the 3.5 metres of unmineralized core separating the two mineralized intervals, the hole returned 92.0 metres of 13.51% U3O8. This represents a grade times thickness (GT) of 1,243.

In addition to AR-16-63c2, holes AR-16-63c1, -64c1 and -64c2 intersected continuous GTs in the subzone of 203, 338 and 541, respectively. These four holes have significantly expanded the current A2 high-grade domain.

The A2 high-grade domain is quantified up to the end of the summer 2015 drill program with a recently completed NI 43-101-compliant inferred mineral resource estimate of 120.5 million pounds U3O8 contained in 410,000 tonnes grading 13.26% U3O8, which is part of the total Arrow deposit inferred mineral resource estimate of 201.9 million pounds U3O8 contained in 3.48 million tonnes grading 2.63% U3O8 (see news release dated March 3, 2016). None of the holes announced in this news release were included in the resource estimate.

Highlights

A2 subzone:

  • AR-16-63c2 (19 m updip and to the southwest from AR-15-44b) intersected 42.0 m at 15.20% U3O8 (458.0 to 500.0 m), including 7 m at 52.91% U3O8 (488.5 to 495.5 m) and an additional 46.5 m at 12.99% U3O8 (503.5 to 550.0 m), including four m at 53.48% U3O8 (530.0 to 534.0 m).
  • AR-16-64c2 (30 m updip and to the northeast from AR-15-44b) intersected 48.5 m at 11.15% U3O8 (491.0 to 539.5 m), including three m at 52.35% U3O8 (498.5 to 501.5 m).
  • AR-16-64c1 (21 m updip and to the southwest from AR-15-49c2) intersected 48.5 m at 6.97% U3O8 (433.5 to 482.0 m), including three m at 52.13% U3O8 (469.0 to 472.0).
  • AR-16-63c1 (seven m updip and to the northeast from AR-15-58c1) intersected 45.0 m at 4.51% U3O8 (432.5 to 477.5 m), including eight m at 20.15% U3O8 (464.5 to 472.5 m).

For detailed drilling results on higher-grade A2 subzone angled drill holes (2015-2016), see company press release.

Garrett Ainsworth, Vice-President, exploration and development, said, “The commencement of infill drilling of the higher-grade A2 subzone has immediately returned five continuous GTs ranging from 203 to 638 in four holes. These high-grade assay intervals from holes AR-16-63c2 and -64c2 extend outside the current A2 high-grade shell, on which the maiden NI 43-101 inferred mineral resource was estimated as it only incorporates up to hole AR-15-62. Denser-spaced drilling of the A2 subzone continues.”

Leigh Curyer, CEO, said, “This winter 2016 program at such an early stage is clearly becoming our most successful to date. The development of Arrow continues rapidly.”

Winter diamond drilling at the Rook I property, Athabasca Basin, northern Saskatchewan. Source: NexGen Energy Ltd

Winter diamond drilling at the Rook I property, Athabasca Basin, northern Saskatchewan. Source: NexGen Energy Ltd

Filed in: Resources, Uranium

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