NexGen Energy Ltd. (TSXV:NXE) announced first assay results from its summer 2014 drilling program. The program is taking place at NexGen’s wholly owned portion of the Rook I property in Saskatchewan’s Athabasca Basin. Results are from drill hole AR-14-15 – the 15th hole drilled in the Discovery.
As quoted in the press release:
Composited drill hole mineralized intersections for AR-14-15 returned two wide intervals of uranium mineralization:
UPPER HIGH GRADE URANIUM INTERVAL = 22.35 m (564.00 – 586.35 m):
- 3.42% U3O8 over 22.35 m
- Including 10.72% U3O8 over 6.85 m
- Including 15.74% U3O8 over 4.50 m
- Including 26.10% U3O8 over 2.60 m
- Highest assay within the interval: 55.8% U3O8 over 0.45 m
LOWER HIGH GRADE URANIUM INTERVAL = 32.0 m (594.0 – 626.0 m):
- 1.52% U3O8 over 32.0 m
- 10.40% U3O8 over 3.15 m
- Highest assay within the interval: 43.7% U3O8 over 0.35 m
NexGen CEO, Leigh Curyer, said:
The primary objective of the summer program was to establish a large area of mineralization, which we have achieved very quickly by aggressive large step outs. In only 22 holes, the team has established a mineralized zone of 515 x 180 m. Secondary, was to obtain an assessment on grade. These are the highest grade assay results over significant intervals to date at Arrow, which have exceeded expectation considering the stage of development. Arrow is developing faster than we ever anticipated at the beginning of the program.