SAN FRANCISCO, CA–(Marketwired – March 24, 2017) – NexGen Energy Ltd.’s (TSX: NXE) (OTCQX: NXGEF) latest mineral resource estimate for the Rook I property has caught the attention of industry analysts.
Included in this article is: NexGen Energy Ltd.
Earlier this month, NexGen Energy Ltd. released an updated mineral resource estimate for the 100%-owned Rook I property in Canada’s uranium-rich Athabasca Basin. The estimate includes Indicated resources of 179.5 million pounds (179.5 Mlb) of U3O8 in 1.18 million tonnes (1.18 Mt) grading 6.88% U3O8, including the high-grade A2 core of 164.9 Mlb of U3O8 in 0.40 Mt grading 18.84% U3O8. The Inferred resource estimate is 122.1 Mlb in 4.25 Mt grading 1.30% U3O8.
The company noted that the 2016 drilling has “converted 89% of the March 2016 Arrow Deposit Maiden Inferred Mineral Resource into the updated Indicated Mineral Resource category. This level of conversion is truly unprecedented, which continues to confirm the strong continuity of grade and thickness seen across the Arrow deposit converted.”
Paradigm Capital analyst David Davidson noted in a March 7 research report that “NexGen’s discovery of the Arrow uranium deposit represents one of the larger and highest-grade discoveries in the Athabasca basin in decades. After only three years of drilling, the company released an updated NI-43-101 indicated & inferred resource of 5.5 Mt grading 2.5% U3O8 for a contained 302Mlb of U3O8. Additional drilling in all likelihood will expand the resource, which should allow for a potential development scenario.”
Looking ahead, Davidson added, “NXE is well into its planned 35,000m 2017 winter drill campaign and we remain convinced that additional uranium pounds will be added, albeit at a slower rate than to date.”
Eight Capital analyst David Talbot noted in a March 6 report that “this new resource bodes well for an upcoming PEA. While Arrow’s ultimate size remains unknown, it has become clear that the A2 HG Shear Zone alone can make a tremendous starter zone down ~400m. This will likely become the basis for the PEA. We expect excellent recovery at 98%, and there does not appear to be many deleterious metals which complicate milling… high grades and relatively little tonnage or throughput requirements should make this a very low cost production.”
Continue reading this interview: NexGen’s Mineral Resource for Arrow Highlights ‘Once-in-a-Career Type of Asset’
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