NexGen Energy Ltd. [NXE-TSXV] released radioactivity results from the final five holes of its highly successful summer 2015 drilling program on its 100%-owned Rook I property in the Athabasca Basin, northern Saskatchewan.
All five drill holes reported in this news release have returned off-scale radioactivity. Hole AR-15-62 intersected extensive mineralization in the A2 shear marked by dense accumulations of massive to semi-massive pitchblende. This hole confirms the significant continuity of world-class uranium mineralization in the higher-grade subzone of the A2 shear. An attached table compares AR-15-62 with other drill holes within this subzone.
In addition, in the A3 shear, AR-15-61c2 has intersected the most off-scale radioactivity for any hole drilled at Arrow to date, with widespread and strong mineralization (up to over 61,000 counts per second) within an area that is open in every direction and at depth. This hole represents an exciting new development for the A3 shear.
The summer program completed 33,010 metres of drilling, with 26 holes currently awaiting assays from SRC, which are anticipated to be returned over the coming months. Results have demonstrated extensive growth at Arrow, which remains open in all directions. The company’s focus for the remainder of the year will be to compile data for inclusion in a maiden National Instrument 43-101 resource estimate due in the first half of 2016 and to prepare for an extensive winter drilling program scheduled to begin in early January 2016.
Garrett Ainsworth, VP, Exploration and Development, said, “The robust continuity of the higher-grade A2 subzone has been further established with this latest batch of radioactivity drilling results. Based on preliminary radioactivity results and visual inspection of the drill core, hole AR-15-62 is on par with holes AR-15-44b and AR-15-49c2, which returned continuous GTs of 655 and 605, respectively. Meanwhile, hole AR-15-61c2 has intersected the most off-scale mineralization (up to over 61,000 counts per second) in the A3 high-grade core to date, which has significantly developed the wide-open A3 shear.”
Leigh Curyer, CEO, commented, “The results from the summer 2015 program has exceeded all objectives. It has considerably extended the area of mineralization, identified a robust higher-grade subzone of the A2 and, to conclude with this batch of drill holes, delivered the best hole to date in the A3 shear, opening up another exciting path for Arrow’s development. I would like to take the opportunity to congratulate the entire NexGen team, including our key contractors, for their outstanding contribution. We are already well under way in our preparations for winter 2016 drilling, which will materially expand the infrastructure and development of Arrow. It is an incredibly exciting time for shareholders and all involved with the company.”
On October 22 NexGen released assay results for six angled holes from the continuing summer 2015 drilling program at Rook I. All six holes reported have returned strong assay results over significant widths. Assay results from hole AR-15-58c1, which was drilled 53 metres updip and southwest of hole AR-15-44b (56.5 m at 11.55% U3O8 have confirmed some of the strongest radioactivity results associated with ample dense massive to semi-massive pitchblende in the higher-grade A2 subzone, which remains open to the southwest. Furthermore, assays from hole -58c1 have also confirmed the presence of significant uranium mineralization in the A4 shear.
Holes AR-15-48c2, AR-15-48c3, AR-15-53c1 and AR-15-53c3 have all returned widespread uranium mineralization in the A2 shear. Hole AR-15-52, which was a 210 m southwest step-out from hole -44b, returned strong assays in the A3 shear.
AR-15-58c1 (53 m updip and southwest of AR-15-44b) intersected 80.5 m at 2.48% U3O8 (409.0 to 489.5 m), including 15.5 m at 10.01% U3O8, and a second interval of 35.5 m at 9.72% U3O8 (494.5 to 530.0 m), including 11.0 m at 30.61% U3O8 and three m at 72.02% U3O8, in the A2 shear;
Highest-grade assay result from Arrow zone to date in AR-15-58c1: 0.5 m at 80.50% U3O8 (512.5 to 513.0 m);
AR-15-48c3 (55 m southwest from AR-15-44b) intersected 9.5 m at 4.11% U3O8 (552.5 to 562.0 m), 4.5 m at 7.03% U3O8 (494.5 to 530.0 m) and 10.5 m at 7.30% U3O8 (615.0 to 625.5 m) in the A2 shear.
AR-15-52 (210 m southwest step-out from AR-15-44b) intersected 18.0 m at 1.48% U3O8 (751.5 to 769.5 m) in the A3 shear.
Assays confirm strong uranium grades in the A3 shear, where hole -52 currently defines the southwest extent of the A3 high-grade core which currently has a total strike length of 295 m, and remains open in all directions and at depth.
AR-15-58c1 (53 m updip and southwest from AR-15-44b) intersected five m at 7.23% U3O8 (875.0 to 880.0 m) and 19.0 m at 2.01% U3O8 (883.0 to 902.0 m) in the newly discovered A4 shear.
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 further-expanded, over 30,000-metre summer drill program continues and is expected to conclude by the end of October. The company has cash on hand of approximately $20-million.