The winter 2016 drill program will comprise of 30,000 m of drilling and an increase to six diamond drill rigs making it the most number of rigs ever operated at Arrow. The Company has cash on hand of approximately $34M as at January 1, 2016.
There are three primary objectives of the winter 2016 drill program budgeted at $12M;
- Core drilling at Arrow Zone;
- Delineating the higher grade A2 sub-zone (the “Sub-Zone”),
- Drill testing extensions of the A2 and A3 high-grade shears further southwest,
- Testing for flat lying mineralization at the basement unconformity further northeast.
- Step-out drilling along strike from the Arrow zone along the 9 km Patterson corridor on Rook I.
- Drill the Bow discovery.
Leigh Curyer, Chief Executive Officer, commented: “Given the successful 2015 results at Arrow, it has clearly justified expanding the drilling program and improving camp infrastructure at Rook I to support the continued optimization of the project. The addition of a sixth rig makes this winter’s program the largest ever at Arrow. Moreover, we have initiated baseline environmental monitoring studies, metallurgical and geotechnical studies for 2016. It is going to be a very exciting year for the Company and shareholders.”
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Drilling Along Strike of Arrow Zone and Patterson Corridor:
A fifth rig, scheduled to commence late January, will systematically test along strike of the VTEM conductor that hosts the Arrow zone both to the southwest and northeast where there are numerous target areas with similar geophysical characteristics as Arrow. This will incorporate NexGen’s drilling philosophy of aggressive step-outs to test the aerial extent of mineralization which would then be followed by delineation.
Drilling Bow Discovery and Prospective Anomalies on Patterson Lake:
A sixth rig is scheduled to commence in early February to further test the Bow discovery and other highly prospective radon, VTEM, magnetic and gravity anomalies on Patterson Lake. Drilling at Bow will commence when ice conditions permit and will begin with step-out drilling from known mineralization in hole BO-15-10 which returned 9.5m at 0.20% U3O8 including 1.0m at 1.44% U3O8 (see News Release dated June 30, 2015). Further drilling will test coincident VTEM and radon-in-lake water anomalies and structural traps interpreted from previous drilling and geophysical surveys.
Read the full release here: 2016-01-07_NextGen Energy