Nexgen Energy Ltd T.NXE

Guys help me here.

[sailor1986]

These are the results from Cameco early drill results at McArthur.Could someone  dig little deeper and compare with Nexgen.

Cameco, through one of its predecessor companies, Saskatchewan Mining Development Corporation, began operating the McArthur River exploration joint venture in 1980. After several changes in joint venture partners, the project is now owned by Cameco Corporation (69.805%), and Cogema Resources Inc. (30.195%). In 1988the ore body was discovered following eight years of systematic exploration in the area. Improvements to large-loop time-domain electromagnetic methods allowed the definition of graphite conductors in the basement fault structure which controls the location of the ore. Drilling confirmed this structure and discovered sub-economic mineralization five kilometres to the southwest of the McArthur River ore body. The recognition of favourable alteration patterns in drill holes helped guide the exploration drilling to the ore body.

Several years of core drilling from surface followed and resulted in the outlining of high-grade mineralization over 1.7 kilometres of strike length. By 1991, 60 holes were completed of which 37 holes intersected uranium mineralization at a depth of 500 to 600 metres. Based on this information a resource of 260 million pounds at an average grade of 5% U3Og was estimated. Seventy per cent of the estimated resource was based on only seven drill holes, and 18% was based on a single hole which graded 43% U3O8 over 25 metres [1]. Following completion of the surface drilling it was decided to undertake an underground exploration programme which would provide the detailed information about the shape of the individual ore bodies.