VANCOUVER, March 15, 2016 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSXV:NXE,
OTCQX:NXGEF) is pleased to announce results from nine angled
drill holes from our ongoing 30,000 m winter 2016 drilling program
on our 100% owned Rook I Property, Athabasca Basin, Saskatchewan.
Hole AR-16-75, a step-out hole 170m to the southwest along
strike from Arrow intersected 39.5 m of total composite
mineralization in the A3 and A4 shears, confirming Arrow remains
open in all directions and at depth. This hole has extended the
total strike length of mineralization at Arrow from 670 m to 840
m.
In addition, within the higher grade A2 sub-zone (the
"Sub-Zone"), three holes have intersected extensive visible uranium
mineralization. Holes AR-16-74c1, -76c1 and -78c1 all
encountered intense radioactivity in the Sub-Zone marked
by dense accumulations of semi-massive to massive pitchblende.
Highlighting these results is hole AR-16-76c1, which
intersected 5.25 m of minimum-greater-than-61,000 cps
radioactivity, 3.5 m of which was continuous.
Highlights:
All nine holes reported in this news release have returned
significant mineralization.
Southwest Extension:
- AR-16-75 (170 m southwest from the Arrow deposit)
intersected 39.5 m of total composite mineralization (<500 –
4800 cps) within a 171.0 m section (750.0 to 921.0 m) in the A3
and A4 shears.
A2 Shear:
- AR-16-76c1 (70 m up-dip and southwest from AR-15-44b)
intersected 73.5 m of total composite mineralization
including 22.75 m of total composite off-scale radioactivity
(10,000 - >61,000 cps) within a 107.0 m section (417.0 to 524.0
m) including 5.25 m of composite mineralization measuring a
minimum >61,000 cps in the Sub-Zone.
- AR-16-74c1 (14 m down-dip and southwest of AR-15-44b)
intersected 87.5 m of total composite mineralization
including 22.35 m of total composite off-scale radioactivity
(10,000 - >61,000 cps) within a 149.5 m section (491.0 to 640.5
m) in the Sub-Zone.
- AR-16-78c1 (69 m up-dip and northeast of AR-15-44b)
intersected 64.0 m of total composite mineralization
including 17.1 m of total composite off-scale radioactivity
(10,000 - >61,000 cps) within a 95.0 m section (396.5 to 491.5
m) including 2.50 m of composite mineralization measuring a
minimum >61,000 cps in the Sub-Zone.
- AR-16-72c2 (60 m down-dip and northeast of AR-15-44b)
intersected 93.0 m of total composite mineralization
including 9.15 m of total composite off-scale radioactivity
(10,000 - >61,000 cps) within a 260.5 m section (438.5 to 699.0
m) in the A2 shear.
Table 1: Higher Grade A2
Sub-Zone Drill Hole Comparison
2015
|
AR-15-
59c22
|
AR-15-
54c12
|
AR-15-
58c12
|
AR-15-
622
|
AR-15-
44b2
|
AR-15-
49c22
|
AR-15-
57c32
|
Total composite
mineralization =
|
75.50 m
|
42.00 m
|
86.00 m
|
143.00 m
|
135.60 m
|
73.50 m
|
62.50 m
|
Total Off-scale
(>10,000 to 29,999 cps)3 =
|
11.40 m
|
5.90 m
|
14.30 m
|
17.75 m
|
30.25 m
|
15.70 m
|
4.40 m
|
Total Off-scale
(>30,000 to 60,999 cps)3 =
|
4.50 m
|
3.00 m
|
3.85 m
|
10.60 m
|
7.75 m
|
5.20 m
|
2.50 m
|
Total Off-scale
(>61,000 cps)3 =
|
1.00 m
|
0.50 m
|
2.00 m
|
2.00 m
|
1.50 m
|
2.15 m
|
1.80 m
|
Continuous GT (Grade
x Thickness) =
|
371
|
277
|
200 and
345
|
787
|
655
|
605
|
319
|
2016
|
AR-16-
76c1
|
AR-16-
63c12
|
AR-16-
63c31
|
AR-16-
74c1
|
AR-16-
63c22
|
AR-16-
64c31
|
AR-16-
64c22
|
AR-16-
64c12
|
AR-16-
78c1
|
Total composite
mineralization =
|
73.50
m
|
55.50 m
|
147.00 m
|
88.00
m
|
138.00 m
|
102.00 m
|
76.00 m
|
74.0 m
|
64.00
m
|
Total Off-scale
(>10,000 to 29,999 cps)3 =
|
14.75
m
|
6.85 m
|
22.10 m
|
21.2
m
|
17.10 m
|
18.75 m
|
15.95 m
|
10.30 m
|
11.60
m
|
Total Off-scale
(>30,000 to 60,999 cps)3 =
|
2.75
m
|
0.50 m
|
3.00 m
|
1.15
m
|
9.90 m
|
2.50 m
|
4.70 m
|
3.70 m
|
3.00
m
|
Total Off-scale
(>61,000 cps)3 =
|
5.25
m
|
0.00 m
|
0.50 m
|
0.00
m
|
13.85 m
|
0.00 m
|
5.50 m
|
0.00 m
|
2.50
m
|
Continuous GT (Grade
x Thickness) =
|
Assays
Pending
|
203
|
Assays
Pending
|
Assays
Pending
|
638 and
604
|
Assays
Pending
|
541
|
338
|
Assays
Pending
|
1
radioactivity results previously released
|
2
radioactivity and assays results previously
released
|
3
minimum radioactivity using RS-120 gamma
spectrometer
|
|
Arrow, Activities & Financial
-
The land-based and basement hosted Arrow zone currently covers
an area of 840 m by 235 m with a vertical extent of
mineralization commencing from 100 m to 920 m, and remains
open in all directions and at depth.
-
The winter 2016 program comprising 30,000 m of drilling
continues with six drill rigs active.
-
The Company remains on track for release of an updated NI 43-101
resource estimate on the Arrow Deposit due in the second half of
2016
-
The Company has cash on hand of $31M.
Drill hole locations, the Sub-Zone, and the A2 and A3 long
sections are shown in Figures 1 to 4. Table 2 has a summary of the
mineralized intervals.
Garrett Ainsworth,
Vice-President, Exploration and Development, commented: "As shown
with this latest batch of results, closer spaced drilling within
the Arrow deposit is confirming and exceeding our expectations in
terms of continuity of grades and widths. Testing 170 m
southwest of the Arrow deposit has opened up an exciting new strike
extent that we plan on aggressively following up on."
Leigh Curyer, Chief Executive Officer, commented: "Arrow
continues to prove itself as a truly unique asset and one that
keeps exceeding our expectations. Hole -75 which has extended
the area of known mineralization by 170 m and infill drilling
continues to intersect better mineralization than encountered in
the best holes from 2015; this winter 2016 program continues to be
our best to date."
Table 2: Arrow Zone Drill Hole Data
Drill
Hole
|
Athabasca
Group
-
Basement
Unconformity
Depth
(m)
|
Handheld
Scintillometer Results (RS-120)
|
Hole
ID
|
Azimuth
|
Dip
|
Total
Depth
(m)
|
From
(m)
|
To
(m)
|
Width
(m)
|
CPS
Range
|
AR-16-61c3
|
140
|
-74
|
921.00
|
110.30
|
526.00
|
526.50
|
0.50
|
<500 -
1100
|
549.00
|
552.50
|
3.50
|
<500 -
4120
|
558.00
|
573.50
|
15.50
|
<500 -
2800
|
585.50
|
591.50
|
6.00
|
<500 -
1100
|
645.00
|
645.50
|
0.50
|
<500 -
1800
|
649.50
|
651.00
|
1.50
|
<500 -
2000
|
672.00
|
677.50
|
5.50
|
<500 -
3800
|
688.00
|
694.50
|
6.50
|
<500 -
5800
|
718.00
|
719.50
|
1.50
|
<500 -
2500
|
740.00
|
740.50
|
0.50
|
<500 -
1100
|
761.50
|
771.00
|
9.50
|
<500 -
1800
|
818.50
|
819.00
|
0.50
|
<500 -
510
|
823.50
|
833.00
|
9.50
|
<500 -
16000
|
836.50
|
839.00
|
2.50
|
<500 -
2600
|
844.50
|
849.50
|
5.00
|
<500 -
1300
|
889.50
|
890.00
|
0.50
|
<500 -
850
|
AR-16-72c2
|
145
|
-70
|
669
|
107.75
|
438.50
|
439.00
|
0.50
|
<500 -
820
|
509.00
|
510.50
|
1.50
|
<500 -
1550
|
519.00
|
520.00
|
1.00
|
<500 -
1500
|
541.50
|
543.50
|
2.00
|
<500 -
800
|
546.00
|
547.00
|
1.00
|
<500 -
4100
|
550.50
|
560.00
|
9.50
|
<500 -
28000
|
565.00
|
576.50
|
11.50
|
<500 -
13000
|
579.00
|
587.50
|
8.50
|
<500 -
>61000
|
591.00
|
600.50
|
9.50
|
<500 -
>61000
|
604.00
|
604.50
|
0.50
|
<500 -
6700
|
609.00
|
609.50
|
0.50
|
<500 -
29000
|
614.50
|
632.00
|
17.50
|
<500 -
21000
|
634.50
|
638.50
|
4.00
|
<500 -
2000
|
656.50
|
670.50
|
14.00
|
<500 -
7150
|
674.50
|
684.00
|
9.50
|
<500 -
>61000
|
697.00
|
699.00
|
2.00
|
<500 -
1100
|
AR-16-73
|
145
|
-70
|
699.00
|
114.00
|
162.00
|
162.50
|
0.50
|
<500 -
800
|
221.00
|
229.00
|
8.00
|
<500 -
1900
|
231.50
|
232.50
|
1.00
|
<500 -
650
|
236.50
|
240.00
|
3.50
|
<500 -
4800
|
243.50
|
246.50
|
3.00
|
<500 -
2400
|
251.50
|
257.00
|
5.50
|
<500 -
12000
|
259.50
|
260.50
|
1.00
|
<500 -
850
|
264.50
|
271.50
|
7.00
|
<500 -
13000
|
287.00
|
289.00
|
2.00
|
<500 -
750
|
293.00
|
295.00
|
2.00
|
<500 -
770
|
323.50
|
325.50
|
2.00
|
<500 -
700
|
330.00
|
330.50
|
0.50
|
<500 -
1000
|
346.00
|
348.00
|
2.00
|
<500 -
1100
|
363.00
|
370.00
|
7.00
|
<500 -
1400
|
373.50
|
378.00
|
4.50
|
<500 -
1000
|
421.00
|
427.00
|
6.00
|
<500 -
1300
|
433.50
|
444.50
|
11.00
|
<500 -
1200
|
463.00
|
468.50
|
5.50
|
<500 -
1000
|
481.50
|
482.00
|
0.50
|
<500 -
500
|
495.00
|
495.50
|
0.50
|
<500 -
500
|
498.00
|
498.50
|
0.50
|
<500 -
500
|
527.00
|
532.00
|
5.00
|
<500 -
700
|
546.50
|
547.50
|
1.00
|
<500 -
800
|
554.00
|
558.00
|
4.00
|
<500 -
1000
|
565.50
|
567.50
|
2.00
|
<500 -
2000
|
572.00
|
577.00
|
5.00
|
<500 -
2400
|
579.50
|
583.00
|
3.50
|
<500 -
8000
|
586.00
|
593.00
|
7.00
|
<500 -
5600
|
602.50
|
604.00
|
1.50
|
<500 -
27000
|
613.00
|
613.50
|
0.50
|
600 -
12000
|
622.50
|
623.00
|
0.50
|
<500 -
630
|
625.50
|
627.50
|
2.00
|
<500 -
17000
|
AR-16-74c1
|
131
|
-69
|
648.00
|
113.80
|
175.00
|
175.50
|
0.50
|
<500 -
540
|
491.00
|
495.50
|
4.50
|
<500 -
43000
|
513.00
|
516.50
|
3.50
|
<500 -
48000
|
520.50
|
522.00
|
1.50
|
<500 -
2200
|
526.50
|
527.00
|
0.50
|
<500 -
1700
|
532.50
|
579.50
|
47.00
|
<500 -
>61000
|
584.50
|
585.50
|
1.00
|
<500 -
28000
|
589.00
|
604.00
|
15.00
|
<500 -
59000
|
607.50
|
618.00
|
10.50
|
<500 -
11000
|
621.50
|
622.50
|
1.00
|
<500 -
3900
|
634.50
|
636.50
|
2.00
|
<500 -
1800
|
639.50
|
640.50
|
1.00
|
<500 -
950
|
AR-16-74c2
|
131
|
-69
|
663.00
|
113.80
|
512.50
|
514.00
|
1.50
|
<500 -
2500
|
524.00
|
529.00
|
5.00
|
<500 -
3800
|
531.50
|
534.50
|
3.00
|
<500 -
950
|
541.00
|
545.50
|
4.50
|
<500 -
34000
|
560.50
|
572.50
|
12.00
|
<500 -
>61000
|
576.00
|
581.00
|
5.00
|
<500 -
1300
|
583.50
|
587.00
|
3.50
|
<500 -
3800
|
611.00
|
615.50
|
4.50
|
<500 -
7800
|
618.00
|
619.50
|
1.50
|
<500 -
2400
|
624.00
|
625.00
|
1.00
|
<500 -
2000
|
628.00
|
653.00
|
25.00
|
<500 -
>61000
|
662.50
|
663.00
|
0.50
|
<500 -
540
|
AR-16-74c3
|
131
|
-69
|
714.00
|
113.80
|
450.00
|
452.50
|
2.50
|
<500 -
710
|
515.50
|
516.00
|
0.50
|
<500 -
630
|
522.00
|
522.50
|
0.50
|
<500 -
700
|
552.00
|
554.00
|
2.00
|
<500 -
7500
|
565.50
|
566.50
|
1.00
|
<500 -
2200
|
569.50
|
571.50
|
2.00
|
<500 -
22500
|
574.00
|
580.50
|
6.50
|
<500 -
35000
|
588.00
|
589.50
|
1.50
|
<500 -
4800
|
592.50
|
597.00
|
4.50
|
<500 -
29000
|
599.50
|
605.50
|
6.00
|
<500 -
14000
|
617.50
|
620.00
|
2.50
|
<500 -
850
|
633.50
|
634.50
|
1.00
|
<500 -
550
|
653.00
|
653.50
|
0.50
|
<500 -
650
|
AR-16-75
|
137
|
-71
|
987.00
|
101.90
|
750.00
|
754.00
|
4.00
|
<500 -
1100
|
765.00
|
773.50
|
8.50
|
<500 -
2500
|
777.00
|
790.50
|
13.50
|
<500 -
3500
|
795.00
|
795.50
|
0.50
|
<500 -
1700
|
807.00
|
807.50
|
0.50
|
<500 -
550
|
814.00
|
816.00
|
2.00
|
<500 -
780
|
832.50
|
833.00
|
0.50
|
<500 -
1100
|
846.50
|
851.00
|
4.50
|
<500 -
4800
|
869.00
|
869.50
|
0.50
|
<500 -
700
|
874.50
|
875.50
|
1.00
|
<500 -
900
|
917.00
|
921.00
|
4.00
|
<500 -
2400
|
AR-16-76c1
|
140
|
-70
|
880.00
|
114.95
|
417.00
|
417.50
|
0.50
|
<500 -
720
|
436.00
|
436.50
|
0.50
|
<500 -
525
|
441.00
|
478.00
|
37.00
|
<500 -
49000
|
480.50
|
508.50
|
28.00
|
<500 -
>61000
|
511.00
|
517.00
|
6.00
|
<500 -
2900
|
522.50
|
524.00
|
1.50
|
<500 -
900
|
604.00
|
607.00
|
3.00
|
<500 -
1100
|
623.00
|
623.50
|
0.50
|
500 -
1200
|
627.50
|
628.50
|
1.00
|
<500 -
540
|
631.00
|
631.50
|
0.50
|
<500 -
1300
|
638.50
|
639.50
|
1.00
|
<500 -
1700
|
642.00
|
650.00
|
8.00
|
<500 -
6000
|
655.00
|
662.00
|
7.00
|
<500 -
2100
|
680.00
|
681.00
|
1.00
|
<500 -
730
|
684.00
|
687.00
|
3.00
|
<500 -
1800
|
698.00
|
699.50
|
1.50
|
<500 -
2500
|
703.50
|
713.50
|
10.00
|
<500 -
52000
|
718.00
|
718.50
|
0.50
|
<500 -
2000
|
722.00
|
722.50
|
0.50
|
<500 -
1000
|
730.00
|
730.50
|
0.50
|
500 -
8600
|
733.00
|
733.50
|
0.50
|
<500 -
1100
|
740.50
|
763.50
|
23.00
|
<500 -
>61000
|
767.00
|
768.50
|
1.50
|
<500 -
19000
|
816.00
|
816.50
|
0.50
|
<500 -
900
|
838.00
|
839.50
|
1.50
|
<500 -
4500
|
AR-16-78c1
|
138
|
-68
|
564.00
|
110.95
|
396.50
|
410.00
|
13.50
|
<500 -
8300
|
416.00
|
416.50
|
0.50
|
<500 -
1600
|
420.00
|
424.50
|
4.50
|
<500 -
1000
|
435.00
|
440.50
|
5.50
|
<500 -
15000
|
443.50
|
480.00
|
36.50
|
<500 -
>61000
|
485.50
|
487.50
|
2.00
|
<500 -
1900
|
490.00
|
491.50
|
1.50
|
<500 -
1850
|
Parameters:
- Maximum internal dilution 2.00 m downhole
- All depths and intervals are meters downhole
- "Anomalous" means >500 cps (counts per second) total count
gamma readings by gamma scintillometer type RS-120
- "Off-scale" means >10,000 cps (counts per second) total
count gamma readings by gamma scintillometer type RS-120
- Where "Min cps" is <500 cps, this refers to local low
radiometric zones within the overall radioactive interval
Natural gamma radiation in drill core reported in this news
release was measured in counts per second (cps) using a Radiation
Solutions Inc. RS-120 gamma-ray scintillometer. The reader is
cautioned that total count gamma readings may not be directly or
uniformly related to uranium grades of the rock sample measured;
they should be used only as a preliminary indication of the
presence of radioactive minerals. All intersections are downhole.
True thicknesses are yet to be determined.
Split core samples will be taken systematically, and intervals
will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC
17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples sent to
SRC will be analyzed using ICP-MS for trace elements on partial and
total digestions, ICP-OES for major and minor elements on a total
digestion, and fusion solution of boron by ICP-OES. Mineralized
samples are analyzed for U3O8 by ICP-OES and
select samples for gold by fire assay. Assay results will be
released when received and after stringent internal QA/QC protocols
are passed.
The technical information in this news release has been approved
by Garrett Ainsworth, P.Geo., Vice
President – Exploration & Development, a qualified person for
the purposes of National Instrument 43- 101 – Standards of
Disclosure for Mineral Projects. Mr. Ainsworth reviewed the data
disclosed in this news release, including the sampling, analytical
and test data underlying the information or opinions contained in
this news release by reviewing original data certificates and
monitoring all of the data collection protocols.
The mineral resource at the Arrow Deposit was completed by RPA
Inc. and has an effective date of January 14, 2016. The
mineral resource is reported at a cut-off grade of 0.25%
U3O8. The cut-off is based on a long-term uranium price of
USD$65/lb U3O8. The mineral
resource is classified into the inferred category based on the CIM
Definition Standards. For details regarding the geology and
mineralization of the Arrow Deposit, the drilling, sampling and
analytical procedures followed and the estimation methodology used
in the preparation of the mineral resources, please refer to the
Company's Amended and Restated News Release dated March 3, 2016,
which is available under the Company's profile on the SEDAR website
at www.sedar.com.
ARROW ZONE DRILLING
AR-16-61c3
Hole AR-16-61c3 was a directional hole that departed hole
AR-15-61c2 at a depth of 253 m. It tested the A2 shear 30 m
down-dip of AR-15-61c2 and the A3 shear 38 m down-dip and southwest
of AR-15-61c2 (8.52% U3O8 over 10.5 m and 6.30% U3O8 over 37.0 m in
the A3 shear). Directional drilling was initiated at 349 m. The A2
and A3 shears was intersected at inclinations of -73° and -72°,
respectively.
Since the hole departed the pilot hole below the unconformity,
no Athabasca Group sandstones were intersected. Basement
lithologies consisted largely of semipelitic gneiss to granofel,
and relatively narrow intervals of pelitic gneiss and mylonite (the
A2 and A3 shears). The hole successfully intersected
weakly to strongly anomalous radioactivity within the A2 and A3
shears that was associated with stringers, worm-rock style,
chemical solution fronts, blebs and flecks of pitchblende. A total
composite mineralization of 69.0 m including 0.3 m of off-scale
radioactivity (>10,000 – 16,000 cps) was intersected within a
364.0 m section (526.0 to 890.0 m). In the A2 shear, 39.5 m of
composite mineralization was intersected. In the A3 shear 29.5 m of
composite mineralization including 0.3 m of off-scale radioactivity
was intersected. The hole was terminated following the A3 shear at
921 m. It represents successful step-outs on both the A2 and A3
shears.
AR-16-72c2
Hole AR-16-71c2 was a directional hole that departed hole
AR-16-71c1 at a depth of 331 m. It tested the A2 shear 19 m
down-dip of AR-15-53c1 (10.52% U3O8 over 7.0 m in the A2 shear).
Directional drilling was initiated at 342 m. The A2 shear was
intersected at an inclination of -70°.
Since the hole departed the pilot hole below the unconformity,
no Athabasca Group sandstones were intersected. Basement
lithologies consisted largely of semipelitic gneiss to granofel,
and relatively narrow intervals of pelitic gneiss and mylonite (the
A2 shear). Extensive visible uranium mineralization was intersected
in the A2 shear that was associated with semi-massive to massive
veins, stringers, worm-rock style, chemical solution fronts, blebs
and flecks of pitchblende. A total composite mineralization of 93.0
m including 9.15 m of off-scale radioactivity (>10,000 –
>61,000 cps) was intersected within a 260.5 m section (438.5 to
699.0 m), all within the A2 shear. The hole was terminated after
the A2 shear at 705.0 m.
AR-16-73
Hole AR-16-73 was collared from surface at an angled orientation
(-70° dip) to the southeast (140° azimuth). It was designed to test
the A1, A2 and A3 shears in areas of low drill density. The shears
were intersected at inclinations of -67°, -68° and -68°,
respectively.
The hole intersected moderately bleached and desilicified
Athabasca Group sandstones between 96.0 m and the unconformity at
114.0 m. Basement lithologies consisted largely of semipelitic
gneiss to granofel, and relatively narrow intervals of pelitic
gneiss and mylonite (the A1 through A3 shears). The
hole successfully intersected weakly to strongly anomalous
radioactivity within the A1 through A3 shears that was associated
with stringers, worm-rock style, chemical solution fronts, blebs
and flecks of pitchblende. A total composite mineralization of
105.5 m including 1.1 m of off-scale radioactivity (>10,000 –
27,000 cps) was intersected within a 465.5 m section (162.0 to
627.5 m). In the A1 shear, 49.0 m of composite mineralization
including 0.5 m of off-scale radioactivity was intersected. In the
A2 shear, 29.0 m of composite mineralization was intersected. In
the A3 shear 27.0 m of composite mineralization including 0.6 m of
off-scale radioactivity was intersected. The hole was terminated
following the A3 shear at 699.0 m.
AR-16-74c1
Hole AR-16-74c1 was a directional hole collared from surface at
an angled orientation (-69°) to the southeast (131° azimuth). It
tested the A2 shear 15 m down-dip and southwest of AR-15-44b
(11.55% U3O8 over 56.5 m in the A2 shear). Directional drilling was
initiated at 306 m and the A2 shear was intersected at an
inclination of -66°.
The hole intersected strongly bleached Athabasca Group
sandstones between 91.7 m and the unconformity at 113.8 m. Basement
lithologies consisted largely of semipelitic gneiss to granofel,
and relatively narrow intervals of pelitic gneiss and mylonite (the
A2 shear). The hole successfully intersected extensive visible
uranium mineralization within the higher grade sub-zone of the A2
shear that was associated with semi-massive to massive veins,
stringers, worm-rock style, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 88.0 m
including 22.35 m of off-scale radioactivity (>10,000 -
>61,000 cps) was intersected within a 149.5 m section (491.0 to
640.5 m). The hole was terminated following the A2 shear at 648.0
m.
AR-16-74c2
Hole AR-16-74c2 was a directional hole that departed pilot hole
AR-16-74c1 at a depth of 310 m. It tested the A2 shear 28 m
down-dip and southwest of AR-15-74c1 (22.35 m of off-scale
radiaoctivity in the A2 shear, assays pending). Directional
drilling was initiated at 330 m and the A2 shear was intersected at
an inclination of -68°.
Since the hole departed the pilot hole below the unconformity,
no Athabasca Group sandstones were intersected. Basement
lithologies consisted largely of semipelitic gneiss to granofel,
and relatively narrow intervals of pelitic gneiss and mylonite (the
A2 shear). The hole successfully intersected weakly to strongly
anomalous radioactivity in the A2 shear that was associated with
stringers, chemical solution fronts, worm-rock style, flecks and
blebs of pitchblende. A total composite mineralization of 67.0 m
including 5.15 m of off-scale radioactivity (>10,000 -
>61,000 cps) was intersected within a 150.5 m section (512.5 to
663.0 m), all within the A2 shear. The hole was terminated at
663.0.
AR-16-74c3
Hole AR-16-74c3 was a directional hole that departed pilot hole
AR-16-74c2 at a depth of 337 m. It tested the A2 shear 21 m up-dip
and southwest of AR-15-53c2 (4.88% U3O8 over
35.0 m in the A2 shear). Directional drilling was initiated at 337
m and the A2 shear was intersected at an inclination of -74°.
Since the hole departed the pilot hole below the unconformity,
no Athabasca Group sandstones were intersected. Basement
lithologies consisted largely of semipelitic gneiss to granofel,
and relatively narrow intervals of pelitic gneiss and mylonite (the
A2 shear). The hole successfully intersected weakly to strongly
anomalous radioactivity in the A2 shear that was associated with
stringers, chemical solution fronts, worm-rock style, flecks and
blebs of pitchblende. A total composite mineralization of 31.0 m
including 2.5 m of off-scale radioactivity (>10,000 - 35,000
cps) was intersected within a 203.5 m section (450.0 to 653.5 m),
all within the A2 shear. The hole was terminated at 714.0
m.
AR-16-75
Hole AR-16-75 was collared from surface at an angled orientation
(-70°) to the southeast (140° azimuth). It was designed to test for
the presence of mineralization 165 m southwest of the current known
extents of the Arrow deposit. It intersected the A3 and A4 shears
at an inclination of -73°.
The hole intersected moderately bleached Athabasca Group
sandstones between 93.2 m and the unconformity at 101.9 m. Basement
lithologies consisted largely of semipelitic gneiss to granofel,
and relatively narrow intervals of pelitic gneiss and mylonite (the
A1 through A4 shears). The hole successfully intersected weakly to
strongly anomalous radioactivity within the A3 and A4 shears that
was associated with disseminated blebs and flecks of pitchblende. A
total composite mineralization of 39.5 m was intersected within a
171.0 m section (750.0 to 921.0 m). In the A3 shear 29.5 m of
composite mineralization was intersected. In the A4 shear, 10.0 m
of composite mineralization was intersected. The hole was
terminated at 987.0 m and has extended the strike length of the
Arrow deposit to 840 m.
AR-16-76c1
Hole AR-16-76c1 was a directional hole collared from surface at
an angled orientation (-70°) to the southeast (140° azimuth). It
tested the A2 shear 13 m up-dip and southwest of AR-15-58c1 (2.48%
U3O8 over 80.5 m and 9.72%
U3O8 over 35.5 m in the A2 shear) and the A3
shear 52 m down-dip and southwest of AR-15-48c1 (5.43%
U3O8 over 24.0 m in the A3 shear).
Directional drilling was initiated at 273.0 m. The A2 and A3 shears
were intersected at an inclination of -65°.
The hole intersected strongly bleached and desilicified
Athabasca Group sandstones between 101.7 m and the unconformity at
114.95 m. Basement lithologies consisted largely of semipelitic
gneiss to granofel, and relatively narrow intervals of pelitic
gneiss and mylonite (the A2 shear). The hole successfully
intersected extensive visible uranium mineralization within the
higher grade sub-zone of the A2 shear, the A3 shear and the A4
shear that was associated with semi-massive to massive veins,
stringers, worm-rock style, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 138.5 m
including 27.25 m of off-scale radioactivity (>10,000 -
>61,000 cps) was intersected within a 422.5 m section (417.0 to
839.5 m). In the A2 shear, 73.5 m of composite mineralization was
intersected including 22.75 m of off-scale radioactivity. In the A3
shear 26.5 m of composite mineralization was intersected. In the A4
shear, 38.5 m of composite mineralization including 4.5 m of
off-scale radioactivity was intersected. The hole was terminated at
880 m.
AR-16-78c1
Hole AR-16-78c1 was a directional hole collared from surface at
an angled orientation (-68°) to the southeast (138° azimuth). It
tested the A2 shear 17 m up-dip and northeast of AR-15-49c2 (8.77%
U3O8 over 69.0 m in the A2 shear). Directional drilling was
initiated at 213 m and the A2 shear was intersected at a -69°
inclination.
The hole intersected moderately bleached and strongly
desilicified Athabasca Group sandstones between 99.0 m and the
unconformity at 110.95 m. The hole successfully intersected
extensive visible uranium mineralization within the higher grade
sub-zone of the A2 shear that was associated with semi-massive to
massive veins, stringers, worm-rock style, chemical solution
fronts, blebs and flecks of pitchblende. A total composite
mineralization of 64.0 m including 17.1 m of off-scale
radioactivity (>10,000 ->61,000 cps) was intersected within a
95.0 m section (396.5 to 491.5 m), all within the A2 shear. The
hole was terminated at 564.0 m.
About NexGen
NexGen is a British Columbia
corporation with a focus on the acquisition, exploration and
development of Canadian uranium projects. NexGen has a highly
experienced team of uranium industry professionals with a
successful track record in the discovery of uranium deposits and in
developing projects through discovery to production.
NexGen owns a portfolio of highly prospective uranium
exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100%
interest in Rook I, location of the Arrow Discovery in February 2014. The Arrow deposit's maiden
Inferred mineral resource estimate is 201.9 Mlbs U3O8 contained in
3.48 Mt grading 2.63% U3O8. Rook I also hosts the Bow
Discovery which is 3.7km along trend and northeast of Arrow and was
made in March 2015.
The TSXV has neither approved nor disapproved the contents of
this press release. Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is
not limited to, statements with respect to the activities, events
or developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, , the
anticipated timing for an updated mineral resource based on 2016
drilling, growth potential and planned exploration activities.
Generally, but not always, forward-looking information and
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the
negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the results of
planned exploration activities are as anticipated, the price of
uranium, the anticipated cost of planned exploration activities,
that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and
when needed and on reasonable terms, and that third party
contractors, equipment and supplies and governmental and other
approvals required to conduct the Company's planned exploration
activities will be available on reasonable terms and in a timely
manner. Although the assumptions made by the Company in providing
forward-looking information or making forward-looking statements
are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, uncertainty of mineral resource estimation, pending
assay results may not be consistent with preliminary results,
discretion in the use of proceeds, alternative sources of energy,
aboriginal title and consultation issues, reliance on key
management and other personnel, potential downturns in economic
conditions, actual results of exploration activities being
different than anticipated, changes in exploration programs based
upon results, availability of third party contractors, availability
of equipment and supplies, failure of equipment to operate as
anticipated; accidents, effects of weather and other natural
phenomena and other risks associated with the mineral exploration
industry, environmental risks, changes in laws and regulations,
community relations and delays in obtaining governmental or other
approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
SOURCE NexGen Energy Ltd.