NexGen Energy (TSX:NXE) has reported assay results from its recently completed winter 2016 drilling program on its 100 percent owned Rook I property in the Athabasca Basin.
As quoted in the press release:
Highlights:
180 m Southwest of Arrow
Assays have confirmed that multiple drill holes at the new area 180 m southwest of Arrow have intersected significant high grade uranium mineralization and all ten holes are mineralized.
• AR-16-90c3 intersected 13.0 m at 8.09% U3O8 (710.5 to 723.5 m) including 10.0 m at 10.33% U3O8 (710.5 to 720.5 m) and an additional interval of 5.0 m at 14.35% U3O8 (702.5 to 707.5 m).
• AR-16-82c3 (60 m down-dip and northeast from AR-16-90c3) intersected 6.0 m at 4.21% U3O8 (752.5 to 758.5 m) and 6.0 m at 3.46% U3O8 (672.0 to 678.0 m) in two distinct intervals.
• AR-16-77c2 (77 m down-dip and northeast from AR-16-90c3) intersected 37.0 m at 0.63% U3O8 (614.0 to 651.0 m) including 10.0 m at 1.79% U3O8 (623.0 to 633.0 m).
• AR-16-90c2 (49 m down-dip and northeast from AR-16-90c2) intersected 3.5 m at 3.63% U3O8 (774.0 to 777.5 m).
Arrow, Activities & Financial
• The land-based and basement hosted Arrow Deposit currently covers an area of 870 m by 280 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in most directions and at depth.
• The summer 2016 program comprising 35,000 m of drilling is continuing with seven drill rigs active. •
The Company has cash on hand of approximately $91 million.
Click here to read the full press release.
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