One of Canada’s leading uranium explorers announced assay results from a game-changing drill hole this morning. NexGen Energy’s AR-14-30 was the first vertical hole drilled at the Arrow discovery, designed to test the upper and lower vertical limits of the steeply dipping high grade mineralization encountered in hole AR-14-15.
“AR-14-30 signals the arrival of Arrow as a significant high grade uranium discovery,” commented NexGen CEO Leigh Curyer.
- 7.54% U308 over 63.50 metres
- Including 10.32% U3O8 over 46 metres
- Including 10.17% U3O8 over 20.00 metres
- Highest assay within the hole: 66.80% U3O8 over 0.50 metres
Mineralization starts at 100 metres from surface and dives to nearly 730 metres. There were multiple high-grade zone over these vertical extents resulting in a composite grade thickness (grade X thickness) of 909.63 based on a 0.01% U3O8 cut-off. Even when the cut-off is raised to 0.50% U3O8, the total composite grade thickness only drops 1.1% to 899.91.
Mr. Curyer continued: “At such an early stage (32 holes to date), Arrow’s characteristics of being land based, commencing at 100 meters from surface and with sound metallurgy, are all very positive factors for its future development. This together with the obvious potential for discovery of additional Arrows on NexGen’s dominant western Athabasca Basin land package is very exciting for the company and shareholders.”
Garrett Ainsworth, Vice-President, Exploration and Development, commented “Assays for AR-14-30 are simply spectacular showing high grade intervals over substantial vertical extents. It has significantly enhanced our understanding of the structural controls and orientation of mineralization within the Arrow zone, and substantiated the potential to discover additional zones of Athabasca Group and basement unconformity hosted mineralization to the northeast of Arrow along 4 km of untested strike length.”
Arrow has arrived
AR-14-30 represents one of the single best drill results to-date in the Athabasca Basin, the world’s richest uranium producing region.
It stacks up favourably with the other significant discoveries of late, primarily Denison’s Gryphon zone and Fission’s PLS.
Earlier this year, Denison was hitting headline intercepts of 17.3% U3O8 over 4.2 metres and 21.2% U3O8 over 4.5 metres at Gryphon.
To compare, hole AR-14-30 returned 25.22% U308 over 6.5 metres and 10.17% U3O8 over 20 metres.
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