NexGen

Figure 1: Arrow Discovery Drill Hole Locations (gravity background) (NXE photo)_

NexGen Energy, the latest uranium exploration company to discover shallow and high-grade mineralization in the Athabasca region of Saskatchewan, released more impressive results this morning from a summer drilling program at its Arrow target on the Rook I property.

After drilling a total of 22 holes, the Arrow target has a mineralized strike length of 515 meters that is up to 180 meters wide, and it remains open in all directions. So far, the Company has only abandoned one hole.

The highlight from today’s results was hole AR-14-15, which intersected 51.1 meters total composite mineralization and included 4.8 meters off-scale radioactivity (>10,000 cps) from a 305.7 meter section starting at 385.8 meters. The company says it is the strongest mineralization at Arrow to date and describes the section as dense accumulations of semi-massive to massive pitchblende.

Figure 4: AR-14-15 – Massive to Semi-Massive Pitchblende Mineralization at 609.5 m

Figure 4: AR-14-15 – Massive to Semi-Massive Pitchblende Mineralization at 609.5 m

NexGen has now drilled 8,900 meters at its Arrow discovery and, after continued encouraging drill results, has increased its summer drilling program at Rook I to 18,500 meters from 13,500 meters. That means investors can continue to expect plenty of news from NexGen in the upcoming months.

Garrett Ainsworth, the company’s Vice-President, Exploration and Development, said of the latest results, “The growth of the Arrow zone to 515 m strike length by up to 180 m wide with a mere 22 drill holes is a remarkable achievement by NexGen’s technical team. These latest drill results have helped us to better understand the structural controls on mineralization with some of our most intense mineralization encountered to date in drill hole AR-14-15. The extreme clay alteration and presence of mineralization closer to the unconformity to the northwest of Arrow also shows huge potential.” Mr. Ainsworth has already had success working in the Athabasca region. He and his father, Benjamin, discovered the high-grade Patterson Lake South property being explored by Fission Uranium and earlier this year they received recognition for their discovery by winning the 2013 Colin Spence Award from The Association for Mineral Exploration BC.

Leigh Curyer, NexGen’s CEO, added to Mr. Ainsworth’s statement by saying, “These results reflect NexGen’s approach of aggressively stepping out long distances to optimize the discovery cost efficiently and our team’s confidence in the mineralized system. At close to a 100% hit rate of drilled holes intersecting uranium over such a large area and in the round identifying the most intense and shallowest mineralization to date, it is a hugely exciting time for the Company. The increase in the program by 5,000 m to 18,500 m this summer will provide even more valuable data in the near term with respect to the resource potential of this exciting discovery.”

So far today, the stock is unchanged at $0.31. Here's the news release: NexGen Drills Strongest and Shallowest Mineralization to Date at the Arrow Discovery

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