SASKATCHEWAN – Next door to the Patterson Lake South property is the Rook I project belonging to Vancouver-based
NexGen Energy. That company has seven rigs working on the Arrow uranium deposit, and the results are promising.
[caption id="attachment_1003718087" align="alignright" width="300"]
High grade mineralization from hole AR-17-136c2 in the A3 shear at the Arrow deposit.[/caption]
One of the more interesting finds was a dense accumulation of massive to semi-massive pitchblende, the strongest zone of mineralization encountered in the A3 shear to date. The discovery was made in step out scissor hole AR-17-136c2 where a total of 26.0 metres of total composite mineralization was cut including 6.7 metres of off-scale radioactivity that featured 5.3 metres of pitchblende that tested >61,000 cps. The area is open to the northeast.
Step-out holes drilled A2 and A4 shears also returned long intersections (18.5 to 58.0 metres) of total composite mineralization. Sections of the holes gave off-scale radioactivity readings from gaps or outside of the current resource estimate.
None of the drilling completed in 2017 was included in the updated 43-101 resource estimate released on March 6, 2017. That report is posted at
www.NexGenEnergy.ca.
Comments
Malcolm Rawlingson
No question that this is the best Uranium discovery on the planet. There look to be very few difficulties in mining this ore as it is 100% basement hosted and the latest discovery much shallower. If the latest results are confirmed by assays this may be a billion pound deposit. When Uranium starts its inevitable price increase this mine will be a very valuable asset. 1BN pounds at realistic Uranium prices of $80 a pound means an $80 billion dollar asset. That should make any shareholder ecstatic.