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NexGen hits 9.56% U3O8 over 68.5 metres

by Greg Klein | June 15, 2015

“One of the top drill holes ever in uranium exploration” and not even an exclamation mark from NexGen Energy TSXV:NXE. Reporting some winter results from the Patterson Lake South-adjacent Rook 1 project on June 15, the company announced the Arrow zone’s most continually mineralized intersection so far. Located on the southwestern edge of the A2 and A3 shears, hole AR-15-44b showed a Russian doll-within-a-doll interval of increasingly high grades:

  • 9.56% U3O8 over 68.5 metres, starting at 499.5 metres in downhole depth
  • (including 11.55% over 56.5 metres)
  • (which includes 20.68% over 20 metres)
  • (which includes 70% over 1 metre)

Other outstanding results from the same hole, drilled at a -75 degree dip, included:

NexGen hits 11.55% U3O8 over 68.5 metres

  • 2.03% over 5.5 metres, starting at 455.5 metres

  • 1.03% over 19.5 metres, starting at 463.5 metres

  • 5.42% over 11 metres, starting at 486 metres

  • 1.64% over 4 metres, starting at 582 metres

  • 2.65% over 34 metres, starting at 590 metres

  • 0.77% over 5.5 metres, starting at 935.5 metres

True widths weren’t provided. But VP of exploration and development Garrett Ainsworth commented, “When increasing the internal dilution from two metres to 4.5 metres, this drill hole returns a total composite interval of 168.5 metres at 5% U3O8 (455.5 to 624 metres), representing an estimated true thickness of 43.6 metres with only 1.2 metres of estimated true thickness internal dilution.”

A $9-million, 25,000-metre summer program began last week. Among the targets will be further stepouts southwest of AR-15-44b, as well as additional drilling on the Bow discovery 3.7 kilometres northeast of Arrow. The company plans a maiden resource by year-end.

Arrow covers 515 metres by 215 metres, with basement-hosted mineralization beginning at about 100 metres in depth, extending to 920 metres and remaining open in all directions. Highly successful financings leave NexGen with a working capital of about $30 million.

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