Rook 1

Source: Company reports

Shares in Athabasca-Basin uranium explorer NexGen Energy (NXE.V) climbed 13.8% in early trading Tuesday, last at $0.37, following a news release announcing a large new radon anomaly 400m NE and along strike of the company’s 2014 Arrow Zone discovery. Radon in water is no guarantee of an additional discovery, but the surveys were successful in pinpointing where to drill for uranium next door at Fission Uranium’s Triple R deposit. As such, NexGen will drill-test the new target during its current program.

The company started its 18,000 meter $8 million winter drill program last week with three drill rigs turning. The program is focused on the Arrow discovery, a 515m by 215m zone of narrow and vertical uranium mineralization occurring in basement hosted rocks, a preferred host to sandstone or unconformity deposits, where mining is more challenging.

The size of the radon anomaly is also encouraging for Nexgen as it suggests mineralization could be stronger or nearer to surface than Arrow, which begins at roughly 100 meters depth and continues past 700 meters.

NexGen VP of Exploration Garrett Ainsworth, whose work led to Fission’s Triple R discovery, commented, “The results from all geophysical and geochemical surveys conducted to date in this particular area of Rook I, all continue to support that the four-kilometre strike length northeast of Arrow within the Patterson conductor corridor has excellent potential to discover additional zones of basement mineralization, as well as Athabasca sandstone hosted and unconformity-style mineralization.”

Read the company’s news release: Strong Radon Anomalies Yield High Priority Drill Target Zone 400m Northeast along Strike from the Arrow Zone

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