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#Fission uranium drill results professional#
Readers are encouraged to conduct their own research and due diligence, and/or obtain professional advice. Readers are advised that the material contained herein is solely for information purposes. NR: Rio Tinto Canada Uranium Corporation Plans Winter Drill Program on Forum’s 40% Owned Henday Property
Rio Tinto identified several targets from a 1,204 line km aerial magnetic and electromagnetic survey completed in the summer. Henday is located northeast of the Denison/AREVA Midwest Lake deposit and Rio’s Roughrider deposit, and it borders on AREVA/Denison’s McClean Lake uranium mine and mill. In the eastern Basin, Forum Uranium (FDC-V) announced this morning that Rio Tinto is mobilizing two diamond drill rigs to Forum’s 40% owned Henday property. NR: Fission announces execution of subscription agreement and offtake agreement with CGN MiningĬash on hand: $12 million (as of Sept. The parties also agreed to an offtake agreement for 20% of annual uranium production from Fission’s Triple R deposit, with an option for a further 15% “at industry standard terms.” NR: NexGen Returns Strongest Assay to Date in the A3 Shear with 10.5 Metres at 8.52% U308 and 37 Metres at 6.3% U308įission Uranium has finalized a subscription agreement that will see Chinese uranium trader CGN Mining pay about $82.2 million (at 85 cents a share) to take a 19.9% stake in Fission. NexGen has $34 million in the treasury to start 2016. The company’s 30,000-metre winter drill program at Rook 1 is already underway with six rigs, and holes 61c2 and 59c3 – which both remain open – are two of the top targets. The final hole to be released from the summer drill program is AR-15-62, and it could be a barnburner: the drill intercepted 30.35 metres of off-scale radioactivity.Īll assays released to date – as well as AR-15-62 – will be included in NexGen’s maiden resource estimate, which is expected during the month of March. We are currently reviewing our resource estimate in light of recent results with a positive bias,” Chang said in a morning note. Our most recent resource forecast was 148.6M lbs. Market reaction was favourable in early trading, pushing NXE up 1 cent to 80 cents.Ĭantor Fitzgerald analyst Rob Chang described the results as “very positive.” “The team looks forward to continuing to develop these higher grade zones now identified within the A3 shear along with a number of other 2016 drill program objectives within all shears and outside the currently defined extents of the Arrow zone.” “Intersecting the best hole to date in the A3 shear in one of the last holes of the summer 2015 program leads NexGen into a very exciting winter 2016 drill season,” said NexGen CEO Leigh Curyer. Results from other holes included 14m at 3.57% uranium and 10m at 2.49%.
Hole AR-15-59c3 also intercepted high-grade mineralization in the southwest portion of the A3 zone, 4.5m at 13.17%. Highlights included separate intervals of 10.5 metres at 8.52% uranium and 37 metres at 6.3% in hole AR-15-61c2 (the latter hit also included 15m at 10.10%). The hits keep coming for NexGen, which this morning released another six angled drill holes focusing on the A3 shear zone at the company’s Rook 1 property in the southwestern Basin. Also in the southwestern Basin, Fission Uranium (FCU-T) announced a final agreement and offtake deal with China’s CGN Mining on its Triple R deposit. It’s an active start to the week for Athabasca Basin uranium plays, and NexGen Energy (NXE-V) is leading the way with another batch of stellar assays from its Arrow project.
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