Vancouver-based NexGen Energy (ASX:NXG, TSX:NXE) believes it may have discovered a new mineralised system 3.5km east of the Arrow deposit, part of its flagship Rook I Project in Canada’s Athabasca Basin.
Drilling within the Patterson Corridor East (PCE) has intersected mineralisation in one hole (RK-24-193) over 67.5m across various intervals, including 1.5m @ 7,500 counts per second – used to measure the detection of particles.
RK-24-193 is located 275m southwest along strike of the discovery hole (RK24-183) and at around the same depth below surface.
NexGen says the mineralisation style and alteration intensity in hole RK-24-193 “strongly” resembles up dip projections that were seen during the early discovery holes at Arrow.
Meanwhile, assays from another hole (RK-24-183) confirm “high-grade” uranium veins across a 20m interval, according to NexGen.
This includes intersections of 13.5m @ 0.78% uranium, including 0.5m @ 10% from 348m and 0.5m @ 6.23% from 356.5m.
To put that into context, the original Arrow discovery hole (RK-14-21) returned 5.75m @ 0.37% uranium, including 0.25m @ 5.77%.
CEO Leigh Curyer says the NexGen team has assessed the geological similarities between RK-24-183 and RK-24-193 and the upper areas of Arrow, which indicates the “high prospectivity” of an additional mineralised system 3.5km east of Arrow.
“Consequently, the growing potential of this latest discovery will drive the focus of the summer exploration program to determine the potential size and extent of mineralisation,” he says.
“Efficient and bold testing of the overall system is the first priority.”
NexGen says the latest results have doubled the size of the system to be tested in the summer drilling program, with an approximate extent of 1.5km long by 1.2km wide.
As a result, the company has expanded the program to four drill rigs targeting 22,000m at PCE.
Targets will primarily be tested between 400 and 700m below surface to test potential depth extensions, like those at Arrow.
NexGen is advancing the federal environmental assessment review process for the Rook I Project. On 22 May, the company reported that it had submitted responses to the remaining 49 technical review comments to the federal regulator, Canadian Nuclear Safety Commision.
Write to Angela East at Mining.com.au
Images: NexGen Energy
