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NexGen Energy Ltd.
Summary
| Project: | Rook I | |
|---|---|---|
| Deposit: | Arrow | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 4/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-4-2017: NexGen Energy Ltd. announces an Exploration/Drilling Update report for its Arrow deposit at the Rook I project. Drilling results incl. 39.0m @ <500 -13000cps from 697.50m. NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, OTCQX:NXGEF) is | |
| Resources: | (Resource): 1.18Mt @ 6.88% U3O8 (Ind.) and 4.25Mt @ 1.30% U3O8 (Inf.) at Arrow | |
| CP/QP: | [Overall Report]: Garrett Ainsworth (Internal) | |
| ABSTRACT: | NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, OTCQX:NXGEF) is pleased to report commencement of an independent maiden Preliminary Economic Assessment (“PEA”) on the Arrow Deposit, and results from the on-going winter 2017 drilling program at our 100% owned, Rook I property, Athabasca Basin, Saskatchewan. Drilling in a previously identified area of strong hydrothermal alteration within the A2 shear located southwest of Arrow, has intersected mineralization including off-scale radioactivity for the first time. This new area of mineralization begins 170 m below surface and is located 275 m up-dip and southwest of the A2 Mineral Resource domains. Strong off-scale radioactivity has been intersected in the ‘gap’ area located southwest of the Arrow resource domains, and northeast of the 180 m Southwest Area Mineral Resource domains. The Southwest Gap Area was not incorporated into the updated mineral resource estimate and represents a key resource expansion opportunity, which has just begun to be targeted. The 2017 winter program comprising a minimum of 35,000 m of drilling with seven drill rigs, will continue into early May 2017. Leigh Curyer, Chief Executive Officer, commented: “The drill results today paired with those previously released from our ongoing winter 2017 program demonstrate how much material room there is for Arrow to expand and optimize in terms of grade and tonnage. Commencement of an initial PEA is an important step in providing guidance as to the economic power of Arrow relative to other sources of current and future mined uranium worldwide. Noting, this initial PEA will be subsequently updated as the Arrow resource is further defined.” | |
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