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NexGen Energy announced addition off-scale scintillometer readings on its basement hosted uranium discovery at the Arrow Zone, on it 100 percent owned Rook 1 project, in the southwestern Athabasca Basin in Saskatchewan.
Drill Tracker Weekly highlights drilling results in context with our database of over 10,000 drilling and trenching results. The purpose of this report is to highlight drilling and trenching results that stand out from the pack and compare them to their peer group. This report does not constitute initiation of coverage or a recommendation.
NexGen Energy Ltd. (TSXV:NXE)
Price: $0.45
Market cap: $75 million
Cash estimate: $14 million
Project: Rook 1
Country: Saskatchewan
Ownership: 100 percent
Resources: N/A
Project status: Assay results pending from scintillometer highs
- NexGen Energy announced addition off-scale scintillometer readings on its basement hosted uranium discovery at the Arrow Zone, on it 100 percent owned Rook 1 project, in the southwestern Athabasca Basin in Saskatchewan. The project is located 2.1 kilometers north of Fission Uranium’s (TSX.V: FCU) Patterson Lake project.
- Angled hole AR-15-39 intersected several zones of narrow basement hosted mineralization in the A3 Share Zone including 16.75 meters of off-scale radioactivity (>10,000 to >61,000 cps) within a wider composite zone of 89.15 meters starting at a depth of 814 meters. Off-Scale mineralization was also intersected in Shear Zone A2 with 7.0 meters at a depth of 622 meters. Assays are pending from these holes as well as others released January 27, and February 17, 2015
- The Arrow discovery was initially announced on February 19, 2014, where drilling adjacent to a break in the EM conductor and the edge of a gravity low intersected narrow brecciated shear zones with one intercept that returned 5.75 meters grading 0.37 percent U3O8.
- The three steeply dipping and vertically extensive, high-grade shoots are located along strike to the northeast of Fission Uranium’s (TSXV:FCU) Patterson Lake Discovery. 36 of the 38 largely angled holes reported on the project to date have intersected uranium mineralization over a 515 meter length and 215 meter width. Mineralization in the sub-vertical zones has been intersected as shallow as 100 meters below surface to a vertical depth of 700 meters.
Discovery Hole (February 2014): 5.75 meters at 0.37 percent U3O8
Current drilling pending assays: 16.7 meters of off-scale radioactivity within 89.15 composite; 9.25 meters of off-scale radioactivity within 76.0 composite; 10.3 meters of off-scale radioactivity within 129 composite
Disclosure: I, Wayne Hewgill certify that the information in this report is sourced through public documents that are believed to be reliable, but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report. At the date of this release the author, Wayne Hewgill, owns no shares in the companies in this report.
This report makes not recommendations to buy sell or hold.
Wayne Hewgill is a geologist with extensive knowledge of the global mining industry gained through 30 years of diversified experience in mineral exploration and new business development in Canada, as well as 10 years living in Africa, New Zealand and Australia. He was previously senior research officer at BHP Billiton, an executive with an exploration company working in Argentina and a mining analyst at three Vancouver-based financial groups where he developed the Drill Tracker database in 2006. He holds a B.Sc. in Geology from the University of British Columbia and is registered as a Professional Geoscientist (P.Geo) with APEGBC.
