NexGen (TSX.V:NXE) Commences 3,000m Drill Program at Rook I Project, Immediately Adjacent to Patterson Lake South Discovery

PLS map

NexGen Energy (NXE:TSXV) has started a 3,000m drill program on their Rook I property which is located next door to Alpha/Fission’s PLS project (see recent drill results here). NexGen has already completed aerial VTEM and magnetics as well as ground gravity testing. The exploration team at NexGen, led by Andrew Browne, has already defined a number of high priority targets. With the number of well-defined targets they have, NexGen plans to drill late into September which should provide news flow well into the Fall.

NexGen Energy (NXE:TSXV)

NexGen Energy (NXE:TSXV)

“The results of the various geophysical surveys completed since acquisition have only increased our pre-existing confidence with respect to the prospectivity of Rook I. NexGen will drill these targets areas until the weather closes in, expected late September,” says Leight Curyer, CEO of NexGen.

News Release here: NexGen Commences 3,000m Drill Program Near PLS Discovery

Fission/Alpha Find Fourth Mineralized Zone at PLS

Fission Uranium (FCU:TSXV) and Alpha Minerals (AMW:TSXV) announced this morning, after being halted late yesterday, that they had discovered a fourth mineralized zone at their Patterson Lake South Discovery.  The fourth zone, R945E, is located 165m grid east of R780E zone and extends the total strike length of the PLS deposit to 1.05km.  Hole PLS13-084 hit 2.7m of ‘off-scale’ radioactivity in a total mineralized interval of 18m and the hole is still being drilled; currently at a depth of 302m.

Alpha Minerals (AMW:TSXV)

Alpha Minerals (AMW:TSXV)

Fission Uranium (FCUTSXV)

Fission Uranium (FCU:TSXV)

Fission’s President, COO and Chief Geologist, Ross McElroy said: “with the discovery of this mineralization at section 945E, we have now identified a 4th separate mineralized zone along a strike length of just over 1km. The significant breadth of mineralization in this drill hole will be aggressively followed up. Taken as a whole, this is further evidence that PLS is host to an extensive mineralized system.”

News Release here: Alpha/Fission Discover Fourth Zone at PLS

Risk, Honesty And A Cut Throat Junior Mining Scene

Odgers Berndtson With special thanks to Odgers Berndston, global leaders in executive search, for supporting these interviews.

Meet Brent Cook: seasoned geologist and the mind behind Exploration Insights, one of the most credible and influential gold stock newsletters in the world today. We recently caught up with Brent in Vancouver, and asked him to share some of his experiences in the junior mining sector.

According to Cook, odds of making a discovery are 1:1000 (“those are just statistics”), but if you take a hard look at the data (“the company reports, the geology”) you can lower the odds to 1:250. Cook figures that his odds of success are 1:25 or 1:50 after his due diligence. “That’s about as low as I can get it… there’s so much of what you don’t know when buying into an early-stage project, but the key, in my mind, is to know what it is that you’re looking for, and what [the deposit] looks like — meaning, when the results come back, evaluate in terms of what you need to be seeing. If you’re not seeing it, if it’s not meeting your thesis, sell it.”

Cook is being modest about his odds of investment success, as his trades during 2012 returned over 50% throughout the year. Subscribe to Brent’s Exploration Insights newsletter for only $140 per month here.

Our conversation shifted to the Vancouver financial scene, which Cook described as “quite a rude awakening.” As someone who places a lot of value on honesty, he found Vancouver to be “cut-throat.” “The flat-out lying takes a bit of getting used to. I’m certainly not saying everyone in Vancouver is a crook, but that is how the vast amount of money is made here.”

Cook continued, warning about rigged exploration deals and “seed stock.” “I suspect most of the money made in Vancouver is made through inside deals, seed capital financings, early stage financings that go out to a group of people and of companies built up around some [big] name people, and eventually this gets recommended by whatever newsletter writers or brokers or analysts and these guys are able to get off their paper at a double or a triple, going from 10 to 30 cents… Some of these are legitimate stories, but if the flat out odds are 1:1000, you can see that when you get to the stage where you’ve put money in at 10 cents and this thing is at 30 cents, you can just keep doing that and make a good living. That’s what happens a lot here, and you’ve got to be aware of that.”

If honesty is hard to find around here, who should we turn to? “A good geologist’s mind is the best tool because there is so much subjectivity to it,” Cook told us. Some lesser-known mineral explorers Cook thinks investors should follow include Steve Nano, Rob Carpenter, and Rob McLeod. “There is too much emphasis on the gurus… I think the people who are going to make the next discoveries are the people we don’t know, like the names I just mentioned.”

It’s always rewarding to connect with Brent Cook. Exploration Insights is an outstanding newsletter for the sophisticated investor, and we recommend following Brent if you’re serious about making money in this sector.

Attend AME BC’s Mineral Exploration Roundup Jan 28-31, 2013 In Vancouver

Mining in British Columbia Today

By Gavin Dirom, President at AME BC, at MiningFeeds.

ame bc

Click to register

While grassroots mineral exploration activity appears to be down in 2012 compared with 2011, there were many advanced exploration projects including New Gold’s Blackwater (Stock Profile – TSX:NGD), Pretium’s Brucejack (Stock Profile – NYSE:PVG & TSX:PVG), Seabridge’s KSM (Stock Profile – TSX:SEA) and several coal projects in British Columbia that may strongly boost the exploration expenditures for 2012 into record-breaking territory.

Commensurately, we should see B.C.’s share of the total investment in mineral exploration in Canada increase as well. These notable highlights, though, are in sharp contrast with the tough venture market conditions, due largely to the volatile global economy, that so many B.C.-based junior exploration & mining companies have faced this past year.

As we note at the Association for Mineral Exploration British Columbia (AME BC), explorers and developers are competing internationally for investment and the best indicator of successful mineral exploration and development is seeing a new mine open. Continue reading