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TSX.V NXE:     $2.66 +0.11     View Chart


Arrow, Rook I


Rook I is NexGen's 100%-owned flagship property which hosts the land-based, basement hosted and high-grade Arrow deposit comprised of a series of 4 sub-vertical mineralized shear zones - A1 to A4 - which vary in thicknesses between 4 and 25m. The mineralized area is currently defined as 280m wide by 865m in strike with mineralization starting at 100m from surface and extending to 920m. Arrow hosts an Inferred mineral resource estimate of 3.48Mt containing 201.9Mlbs U3O8 grading 2.68% U3O8 including a high-grade core of 0.410Mt containing 120.5Mlbs grading 13.26% U3O8 (see the Company's technical disclosure statement: Arrow remains open in all directions and at depth. The Rook I property also hosts the Bow and Cannon discoveries which are located 1.3km and 3.7km northeast into the Athabasca Basin from Arrow, respectively.

Athabasca Basin Setting

Arrow Inferred Mineral Resource Estimate Summary as of January 14, 2016 (the "Effective Date")
Structure Tonnage (tonnes) Grade (U3O8 %) Metal (U3O8 lbs)
A1 380,000 0.50 4,200,000
A2 1,480,000 0.85 27,600,000
A2 High Grade 410,000 13.26 120,500,000
A3 1,130,000 1.90 47,300,000
A4 80,000 1.35 2,300,000
Total 3,480,000 2.63 201,900,000
  1. CIM Definition Standards were followed for Mineral Resources.
  2. Mineral Resources are reported at a cut-off grade of 0.25% U3O8 based on a long-term price of US$65 per lb U3O8 and estimated costs.
  3. A minimum mining width of 2.0 m was used.
  4. Numbers may not add due to rounding.
Arrow Mineral Resource Sensitivity to Cut-Off Grade as of the Effective Date
Cut-Off (U3O8 %) Tonnage (tonnes) Grade (U3O8 %) Metal U3O8 (U3O8 lbs)
0.25 3,480,000 2.63 201,900,000
0.30 3,220,000 2.82 200,300,000
0.50 2,510,000 3.51 194,300,000
1.00 1,490,000 5.43 178,300,000
2.00 820,000 8.66 157,200,000
2.50 680,000 10.04 150,100,000
3.00 580,000 11.30 144,200,000
5.00 400,000 14.70 128,500,000
10.00 220,000 20.78 101,300,000

NexGen successfully published a maiden Inferred mineral resource estimate based on drilling to the end of the summer 2015 program which included 82 holes. Utilizing a unique drilling methodology comprising 95% angled drill holes allowed NexGen to pierce 2-3 shears with each hole given the fact the deposit is comprised of parallel stacked and sub-vertical shear zones. This enabled the Company to define the Arrow deposit efficiently both in terms of time and cost. The Company is well-funded with approximately C$100 million in the treasury.

Importantly, the Company is dedicated to putting the most dollars into the exploration efforts compared to G&A spending. In 2015, the ratio of dollars-in-the-ground to corporate G&A was >10:1.

Current Plan View of Arrow Zone

Winter 2016 drilling commenced in early January with six drill rigs and 30,000m of drilling completed, making it the largest program at Rook I to date. During winter, 3 rigs focused on infill and expansion drilling within the High Grade Domain of the Arrow deposit, 2 rigs focused on step-out drilling and the 6th rig focused on regional exploration along the Patterson Corridor.

The Company initiated a spring shoulder drill season for the first time which is nearing completion. It has been successful in expanding the continuous high-grade nature of the Sub-Zone as well as increasing the mineralization discovered 180 m to the southwest of the Arrow deposit.

This new 180 m southwest extension whilst early in its development represents the highest priority target outside of the Arrow deposit and hosts similar geological setting and alteration to that seen in the High Grade domain of the Arrow deposit. During the spring shoulder season we continue to drill there and will follow-up with further rigs in the summer 2016 program. With hole AR-16-90c3 (see News Release dated June 13, 2016) the Company drilled 8.05 m of off-scale mineralization including 1.5 m of minimum-greater-than-61,000cps radioactivity. This is the same type of mineralization seen within the Sub-Zone and will continue to be followed up on.

Part of the focus during 2016, outside of the drilling, will be to continue baseline environmental monitoring studies and active engagement with local stakeholders as well as geotechnical and metallurgical testing which will form the basis of future economic studies and permitting activities.

Higher Grade A2 Sub-Zone

Additionally, NexGen has successfully identified a sub-horizontal area within the A2 high-grade core zone characterized by substantial accumulations of dense semi-massive and massive pitchblende as seen in 23 drill holes. Of these 23 holes, 20 have assays returned with 3 assays remaining pending. This sub-zone now stretches 203m in strike and remains open.

These sub-zone holes are:

AR-15-62 - Continuous GT = 787
AR-16-76c1 - Continuous GT = 762
AR-16-76c3 - Continuous GT = 761
AR-16-78c4 - Continuous GT = 660
AR-15-44b - Continuous GT = 655
AR-16-63c2 - Continuous GT = 638
AR-15-49c2 - Continuous GT = 605
AR-16-63c2 - Continuous GT = 604
AR-16-64c2 - Continuous GT = 541
AR-16-78c1 - Continuous GT = 485
AR-15-59c2 - Continuous GT = 371
AR-15-58c1 - Continuous GT = 345
AR-16-64c1 - Continuous GT = 338
AR-15-57c3 - Continuous GT = 319
AR-15-54c1 - Continuous GT = 278
AR-16-63c3 - Continuous GT = 274
AR-16-63c1 - Continuous GT = 203
AR-16-64c3 - Continuous GT = 172
AR-16-74c1 - Continuous GT = 160
AR-16-72c2 - Continuous GT = 156
AR-16-76c4 - Continuous GT = 142
AR-16-63c3 - Continuous GT = 124

Summer 2015

NexGen completed its highly successful and expanded summer 2015, 5 rig, 33,000m campaign which exceeded the goals the Company set out prior to the start of the program. The goals were to further define the extents of Arrow by systematically testing the zone including the A2 and A3 high-grade zones in order to be in the position to publish a maiden resource by the end of the summer.

NexGen aggressively tested the extents of Arrow by drilling and hitting on 3 step-outs in increments of 50, 100 and 210m to the southwest of AR-15-44b. Due to the fact all of the holes hit mineralization, the decision was made to expand the program in order to infill the space between -44b and the 210m southwest extension. Not only was the company successfully in doing that, but in doing so NexGen discovered the higher grade A2 sub-zone which is now defined as a sub-horizontal sub-zone of the A2 high-grade shear that is characterized by substantial massive to semi-massive pitchblende mineralization and very high-grades of uranium.

Also in the summer program, NexGen successfully identified a brand new high-grade shear called the A4 which runs parallel to the southeast of the A3. Hole AR-15-58c1 which was drilled 53m up dip and southwest from -44b (and which also pierced the higher grade A2 sub-zone) intersected 5m @ 7.23% U3O8 and 19m @ 2.01% U3O8.

Winter 2015

A fully-funded 18,000 metre 2015 winter program was initiated in early January (expanded to over 21,000 metres) and exceeded the Company's expectations.

The winter 2015 program was successful in extending the area of known mineralization at the A2 shear zone by an additional 88 metres to the southwest (from AR-14-30). Also, the Company discovered the new mineralized A3 shear which appears to be even larger than the A2 shear. Mineralization intersected in the A2 and A3 shears show true widths of these high-grade mineralized zone of approximately 11.0 - 48.3m and 30.0 - 78.6m, respectively (see news release dated March 23, 2015).

Additionally, the winter 2015 program successfully made a completely new uranium discovery 3.7km to the NE of Arrow, called: "Bow".

The Discovery of Arrow - Winter 2014

The Company initially drilled their flagship Rook I project in August 2013 with a 3,000m drill campaign which resulted in eleven of twelve holes confirming the presence of strong clay and hematite alteration. This first pass program was exploratory in nature with no hole being drilled closer than 200 metres.

NexGen followed up the successful summer 2013 drill campaign with an expanded 6,000m winter program in January 2014. The company discovered high-grade uranium at the on land Arrow target with the first drill hole, AR-14-1 (twenty-first hole ever drilled by NexGen at Rook I property). It encountered multiple structural zones containing uranium mineralization. At the time of drilling this discovery hole at the Arrow zone, no other holes existed within a 4km radius.

Summer 2014, A Game Changer

The summer 2014 program totaled 18,885.8m in 33 drill holes on the Rook I property (24 drill holes at the Arrow discovery, and 9 drill holes regionally on Rook I). Shortly after the company released the initial assay results from drill hole AR-14-15, they drilled the first ever vertical hole at the Arrow zone in AR-14-30 which returned one of the best drill holes ever drilled in the Athabasca Basin history (909 on a total composite "GT" - grade x thickness metric).

In August 2014, the Company released assay results from AR-14-15 which was the fifteenth hole drilled at the Arrow zone to-date (see news release August 7, 2014).

Hole AR-14-15 returned two wide intervals of uranium mineralization:

The Upper High-Grade Uranium Interval (564.00 to 586.35 metres):
  • 3.42% U3O8 over 22.35 m
  • Including 10.72% U3O8 over 6.85 m
  • Including 15.74% U3O8 over 4.50 m
  • Including 26.10% U3O8 over 2.60 m
  • Highest assay within the interval: 55.8% U3O8 over 0.45 m
The Lower High-Grade Uranium Interval (594.0 to 626.0 metres):
  • 1.52% U3O8 over 32.0 m
  • 10.40% U3O8 over 3.15 m
  • Highest assay within the interval: 43.7% U3O8 over 0.35 m
To view composited mineralized intervals for AR-14-15 click here

AR-14-30 returned multiple high-grade intercepts, including (see tables below):
  • 7.54% U3O8 over 63.50 metres
  • Including 10.32% U3O8 over 46.00 metres
  • Including 35.19% U3O8 over 7.00 metres
  • Including 66.80% U308 over 0.50 metres
Hole AR-14-30 returned the best assay results ever drilled at the Arrow zone and ranks amongst the best drill results in the Athabasca Basin's history. To view various cut-off comparison tables for hole AR-14-30 please click here

The Eagle Point Analogy

To learn more about the Eagle Point-Arrow Zone analogy CLICK HERE