SASKATCHEWAN - Vancouver-based NexGen Energy has released new assays from its phase one drill program at the Arrow uranium deposit on the southwest rim of the Athabasca Basin. The highest results were 33.78% uranium oxide over 12.0 metres and 32.88% over 8.0 metres.
The 20 recent holes were drilled as part of the feasibility stage study at the company's Rook I project. The work was done to in-fill the A2 high grade domain and boost the boost reserves.
Highlights from the A2 domain include:Hole AR-19-225c1 intersected 0 metres at 11.36% uranium oxide, including 12.0 metres at 33.78%;Hole AR-19-221c1 intersected 0 metres at 10.39% uranium oxide,including 8.0 metres at 32.88;Hole AR-19-224c1 intersected 0 metres at 15.36% uranium oxide, including 14.0 metres at 22.69;Hole AR-19-222c1 intersected 0 metres at 4.12% uranium oxide, including 13.0 metres at 17.14; andHole AR-19-227c2 intersected 0 metres at 2.93% uranium oxide, including 3.0 metres at 22.66%.
NexGen says it is fast tracking the feasibility study based on resources and has begun the environmental assessment for Rook I. The company has also filed an initial licence application for site preparation and construction.
The Arrow deposit has an indicated resource of 256.6 million lb. of uranium oxide contained in 2.89 million tonnes grading 4.03% uranium oxide, including the A2 high grade core of 181.0 million lb. contained in 460,000 tonnes grading 17.85%. The inferred resource contains 91.7 million lb. of uranium oxide contained in 4.84 million tonnes grading 0.86%.
Detailed results from the recent drilling is posted in the news release dated Oct. 9, 2019, posted at www.NexGenEnergy.ca.