NXE.v 5 day (Yahoo Finance)

NexGen Energy Ltd. 5 Day (Yahoo Finance)

This morning NexGen Energy Ltd. (TSXV:NXE) announced completion of the first hole at the Arrow prospect, RK-14-21, to 663 meters depth.

This was the same hole that caught the market’s attention last week for intercepting what is believed to be uranium mineralization (assays pending) between 207.8 and 231 meters.


Arrow, RK-14-21, 2PGA-1000 downhole probe results

Today’s news suggests an additional three mineralized zones at depths between 318.5 meters and 548 meters.

Dundee uranium analyst David Talbot reiterated his buy recommendation with no price target in an alert to subscribers Monday.

Talbot admits the discovery is very early stage but is encouraged by the size of the potential host area for uranium mineralization.

“We expect further share price appreciation upon significant first assays from hole -21, and then upon a second confirmation hole,” Talbot wrote, before sounding a word of caution. “There is no certainty that we will see either.”

Two additional holes have commenced drilling at the Arrow target and drilling is expected to continue into summer.

Read: NexGen Energy Completes First Hole at Arrow Prospect; Intersects Additional Zones of Highly Anomalous Radioactivity, Rook I West, SW Athabasca Basin

Related: Interview with NexGen CEO Leigh Curyer last Thursday


Disclaimer: We own a small position in NexGen which makes our coverage biased. Please read NexGen’s Cautionary Note Regarding Forward Looking Statements. All facts are to be verified by the reader. This is not investment or professional advice of any kind. Always do your own due diligence. Thank you.