On the back of another set of solid drilling results from its Arrow zone, NexGen Energy (CVE:NXE) has been labelled as one of the primary players in the high grade uranium camp located in the southwest corner of the Athabasca Basin.
The company unveiled assay results for two additional drill holes from its ongoing winter 2015 drilling program at the Arrow zone, which is part of its Rook I property in the prolific Athabasca Basin of Saskatchewan.
Of the highlights, hole AR-15-37 returned 16.5 metres at 2.46% uranium, including 3.0 metres at 12.85% uranium as well as 40 metres of 2.88% uranium, which included 22 metres grading 4.92% uranium.
The high grade results are from the A2 mineralized structure at Arrow, which has expanded to 88 metres in strike length, NexGen said. The structure, which extends down to 820 metres, remains open in all directions.
"We continue to view the region as a high-grade uranium camp within which NexGen may have a potentially world class project," said analyst Rob Chang in a research note on NexGen released Thursday.
The news follows drill results from earlier this week at Arrow, which according Chang, represented 1.9 million pounds of uranium oxide. Hole AR-15-34b intersected 70 metres of 2.2% uranium, including 11 metres at 8.95% uranium.
Cantor's Chang has a speculative buy rating on NexGen, which owns a portfolio of prospective uranium exploration properties in the Athabasca Basin. In addition to Rook I, it holds an option to earn a 70 percent stake in the Radio property in the northeast part of the basin.