| NexGen drills 53.85m of total composite off-scale mineralization within 186.90 m total comp. min. at Arrow Zone NexGen Energy (NXE-T) Buy, Venture Risk, No Target Last - $0.42 Mkt. Cap - $65 MM NexGen Drills Total Composite Off-Scale of 53.85 m, within Total Composite Mineralization of 186.90 m at the Arrow Zone Impact: Very Positive; Incredible hole from Arrow shows off potentially large system; Stock should respond well. NexGen announced much anticipated news after being halted since yesterday morning. Drill hole AR-14-30 was announced (still in progress): Intersected 186.90m total composite mineralization including 53.85m off-scale (minimum >10,000 cps to maximum 60,999 cps) within a 287.7 m section (298.3 to 586.0 m). This is certainly the strongest hole we have seen yet, with the prior best hole (-15) intersecting 4.8m off-scale within 78m of mineralization. That hole assayed for 2% over 62m. We caution that true width may be only a fraction of core width given that this hole is drilled down dip of the zone. Highlights: • Hole -30 potentially drilled directly down dip and parallel to structure o Designed to test the upper and lower limits of mineralization in the core of the zone o Hit mineralization around 298m depth and hasn’t yet found the bottom o Tough to determine true width • Continuous off-scale of 5.9 m (537.3 to 543.2m), and 7.75 m (548.55 to 556.30m) associated with dense semi-massive to massive uranium mineralization (uraninite and coffinite) o Resembles the ultra-high-grade uranium mineralization encountered in AR-14-15 (see note) o Management suggests that this new hole is showing greater intensity of alteration and mineralization than hole AR-15 • Drilling of AR-14-30 is still in progress at 637.4m depth in weakly to moderately clay and chlorite altered basement rocks with weakly anomalous radioactivity Arrow Zone continues to grow. It appears to be similar to basement hosted deposits such as Cameco’s Eagle Point Mine….multiple steep dipping stacked lenses (as opposed to PLS which looks more like a flat lying Roughrider). The main lens appears to measure about 300m vertical x 25m true width x 200m strike. Too early to tell grades (based on one hole) but the best area assayed around 2%. |