VANCOUVER, March 30, 2016 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSXV:NXE,
OTCQX:NXGEF) is pleased to announce results from eight angled
holes from our on-going winter drilling program on our 100% owned
Rook I Property, Athabasca Basin,
Saskatchewan.
Step-out drilling 180 m southwest along strike from the Arrow
Deposit has intersected extensive mineralization including
off-scale radioactivity (>10,000 cps). Hole
AR-16-77c2 (see Figure 1), a follow up from hole AR-16-75 (see
News Release dated March 15, 2016),
intersected 109.5 m of total composite mineralization, including
2.3 m of off-scale radioactivity and encountered local
concentrations of semi-massive pitchblende associated with
extensive dravite alteration southwest along strike from the
A4 shear, within an area that is untested. This newly
discovered mineralized area will be the focus of immediate
follow-up drilling. The footprint of Arrow has extended along
strike by an additional 25 m to 865 m and laterally by 40 m to 275
m.
Additionally, drill holes in the area of the higher grade A2
sub-zone (the "Sub-Zone") have continued to intersect intense
uranium mineralization. Infill hole AR-16-76c3 and step-out hole
AR-16-76c4 both intersected intense and widespread radioactivity in
the Sub-Zone. Hole AR-16-76c4 represents an approximate 25
m down-dip expansion from the current A2 High Grade Domain,
which has been defined by 26 drill holes and comprises an Inferred
Mineral Resource estimate of 120.5 M lbs of
U3O8 contained in 0.41 M tonnes of
mineralization grading 13.26% U3O8. The
A2 High Grade Domain is within the Arrow Deposit, which has a total
Inferred Mineral Resource estimate of 201.9 M lbs of
U3O8 contained in 3.48 M tonnes of
mineralization grading 2.63% U3O8.
Highlights:
Southwest Extension:
- AR-16-77c2 (180 m southwest step-out) intersected
109.5 m of total composite mineralization including 2.3 m
of total composite off-scale radioactivity (>10,000 – 50,000
cps) within a 163.5 m section (615.5 to 779.0 m).
A2 Shear:
- AR-16-76c3 (58 m up-dip and southwest from AR-15-44b)
intersected 67.5 m of total composite mineralization
including 24.35 m of total composite off-scale radioactivity
(10,000 - >61,000 cps) within a 124.5 m section (470.5 to 595.0
m) in the Sub-Zone.
- AR-16-76c4 (81 m down-dip and southwest of AR-15-44b)
intersected 105.7 m of total composite mineralization
including 20.85 m of total composite off-scale radioactivity
(10,000 - >61,000 cps) within 171.5 m section (494.0 to 665.5 m)
in the Sub-Zone.
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-
76c4
|
AR-16-
76c11
|
AR-16-
76c3
|
AR-16-63c12
|
AR-16-63c31
|
AR-16-74c11
|
AR-16-63c22
|
AR-16-64c31
|
AR-16-64c22
|
AR-16-64c12
|
AR-16-78c11
|
|
Total composite
mineralization =
|
105.7
m
|
73.50 m
|
67.5
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 =
|
19.85
m
|
14.75 m
|
14.85
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 =
|
1.00
m
|
2.75 m
|
5.00
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 =
|
0.00
m
|
5.25 m
|
4.50
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
|
Assays
Pending
|
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 865 m by 275 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 $33M.
Drill hole locations, the A2 Sub-Zone, A2 and A3 long sections,
and the location of AR-16-77c2 are shown in Figures 1 to 5. Table 2
has a summary of the mineralized intervals.
Garrett Ainsworth,
Vice-President, Exploration and Development, commented, "Hole
AR-16-77c2 has intersected significant mineralization and
alteration located 180 m southwest from the current Arrow resource
model extent. The frequency and intensity of dravite breccias
that we have observed in hole -77c2 are akin to what we see
proximal to the higher grade A2 sub-zone, so undoubtedly we are
excited to continue drilling wide spaced step-outs in this area of
high potential for another high grade sub-zone."
Leigh Curyer, Chief Executive Officer commented, "The two
objectives of this winter's drill program are clearly being
exceeded. The team is very encouraged to be intersecting strong
uranium mineralization 180 m to the southwest in the third hole
drilled in this area. In parallel, the ongoing development of the
A2 High Grade Domain continues to deliver strong intercepts of
mineralization within and outside the existing A2 High Grade Domain
and will be incorporated into an updated resource estimate in H2
2016."
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-16-74c4
|
144
|
-69
|
930.00
|
113.80
|
457.50
|
458.00
|
0.50
|
<500 -
750
|
|
|
|
|
|
518.50
|
519.00
|
0.50
|
<500 -
510
|
|
|
|
|
|
538.00
|
541.50
|
3.50
|
<500 -
3000
|
|
|
|
|
|
545.50
|
546.00
|
0.50
|
<500 -
1400
|
|
|
|
|
|
560.00
|
561.00
|
1.00
|
<500 -
8000
|
|
|
|
|
|
563.50
|
567.50
|
4.00
|
<500 -
10000
|
|
|
|
|
|
571.00
|
574.50
|
3.50
|
<500 -
820
|
|
|
|
|
|
577.00
|
585.50
|
8.50
|
<500 -
1100
|
|
|
|
|
|
591.50
|
592.00
|
0.50
|
<500 -
4200
|
|
|
|
|
|
595.00
|
602.50
|
7.50
|
<500 -
60000
|
|
|
|
|
|
605.50
|
609.00
|
3.50
|
<500 -
1500
|
|
|
|
|
|
612.00
|
619.00
|
7.00
|
<500 -
23000
|
|
|
|
|
|
625.00
|
661.00
|
36.00
|
<500 -
52000
|
|
|
|
|
|
664.00
|
680.50
|
16.50
|
<500 -
14000
|
|
|
|
|
|
687.00
|
687.50
|
0.50
|
<500 -
2100
|
|
|
|
|
|
698.00
|
699.50
|
1.50
|
520 -
7400
|
|
|
|
|
|
707.00
|
708.50
|
1.50
|
<500 -
14000
|
|
|
|
|
|
715.50
|
717.00
|
1.50
|
<500 -
17000
|
|
|
|
|
|
723.50
|
725.00
|
1.50
|
<500 -
18000
|
|
|
|
|
|
729.00
|
734.00
|
5.00
|
<500 -
40000
|
|
|
|
|
|
737.50
|
740.50
|
3.00
|
<500 -
23000
|
|
|
|
|
|
743.50
|
744.50
|
1.00
|
520 -
1800
|
|
|
|
|
|
749.50
|
754.00
|
4.50
|
<500 -
41000
|
|
|
|
|
|
756.50
|
762.00
|
5.50
|
<500 -
40000
|
|
|
|
|
|
769.00
|
769.50
|
0.50
|
<500 -
810
|
|
|
|
|
|
774.50
|
775.00
|
0.50
|
<500 -
530
|
|
|
|
|
|
807.00
|
814.50
|
7.50
|
<500 -
31000
|
|
|
|
|
|
817.00
|
817.50
|
0.50
|
<500 -
10500
|
|
|
|
|
|
860.50
|
867.00
|
6.50
|
<500 -
2400
|
|
|
|
|
|
873.00
|
873.50
|
0.50
|
<500 -
650
|
|
|
|
|
|
877.00
|
878.00
|
1.00
|
<500 -
730
|
|
|
|
|
|
884.00
|
885.50
|
1.50
|
<500 -
24000
|
|
|
|
|
|
891.50
|
897.50
|
6.00
|
<500 -
61000
|
AR-16-76c2
|
140
|
-70
|
609.00
|
114.95
|
435.00
|
437.00
|
2.00
|
<500 -
1100
|
|
|
|
|
|
472.50
|
475.00
|
2.50
|
<500 -
22000
|
|
|
|
|
|
484.50
|
500.50
|
16.00
|
<500 -
27000
|
|
|
|
|
|
510.50
|
535.00
|
24.50
|
<500 -
61000
|
|
|
|
|
|
538.50
|
540.00
|
1.50
|
<500 -
800
|
|
|
|
|
|
588.00
|
594.00
|
6.00
|
<500 -
2500
|
|
|
|
|
|
599.50
|
602.00
|
2.50
|
<500 -
870
|
AR-16-76c3
|
140
|
-70
|
606.00
|
114.95
|
470.50
|
478.50
|
8.00
|
<500 -
3700
|
|
|
|
|
|
482.50
|
483.50
|
1.00
|
700 -
17000
|
|
|
|
|
|
486.00
|
543.50
|
57.50
|
<500 -
61000
|
|
|
|
|
|
586.50
|
587.00
|
0.50
|
<500 -
650
|
|
|
|
|
|
594.50
|
595.00
|
0.50
|
<500 -
1100
|
AR-16-76c4
|
140
|
-70
|
668.00
|
114.95
|
494.00
|
496.50
|
2.50
|
<500 -
1200
|
|
|
|
|
|
511.50
|
516.50
|
5.00
|
<500 -
2900
|
|
|
|
|
|
540.50
|
569.50
|
29.00
|
<500 -
51000
|
|
|
|
|
|
576.50
|
585.20
|
8.70
|
<500 -
58000
|
|
|
|
|
|
587.50
|
607.00
|
19.50
|
<500 -
42000
|
|
|
|
|
|
610.50
|
644.00
|
33.50
|
<500 -
61000
|
|
|
|
|
|
647.50
|
649.50
|
2.00
|
<500 -
5000
|
|
|
|
|
|
657.50
|
662.50
|
5.00
|
<500 -
2200
|
|
|
|
|
|
665.00
|
665.50
|
0.50
|
<500 -
510
|
AR-16-77c1
|
139
|
-73
|
957.00
|
94.65
|
767.00
|
768.00
|
1.00
|
<500 -
2000
|
|
|
|
|
|
776.00
|
776.50
|
0.50
|
<500 -
1100
|
|
|
|
|
|
795.00
|
795.50
|
0.50
|
<500 -
510
|
|
|
|
|
|
831.00
|
842.00
|
11.00
|
<500 -
1900
|
|
|
|
|
|
847.50
|
848.00
|
0.50
|
<500 -
650
|
AR-16-77c2
|
139
|
-73
|
987.00
|
94.65
|
231.00
|
231.50
|
0.50
|
<500 -
950
|
|
|
|
|
|
310.50
|
311.00
|
0.50
|
<500 -
850
|
|
|
|
|
|
571.00
|
571.50
|
0.50
|
<500 -
3100
|
|
|
|
|
|
615.00
|
636.00
|
21.00
|
<500 -
50000
|
|
|
|
|
|
639.50
|
651.00
|
11.50
|
<500 -
3900
|
|
|
|
|
|
663.00
|
669.00
|
6.00
|
<500 -
3500
|
|
|
|
|
|
673.50
|
674.00
|
0.50
|
<500 -
1000
|
|
|
|
|
|
678.00
|
686.00
|
8.00
|
<500 -
9600
|
|
|
|
|
|
688.50
|
690.50
|
2.00
|
<500 -
3000
|
|
|
|
|
|
694.00
|
704.00
|
10.00
|
<500 -
12000
|
|
|
|
|
|
707.00
|
708.00
|
1.00
|
<500 -
2100
|
|
|
|
|
|
717.50
|
730.00
|
12.50
|
<500 -
870
|
|
|
|
|
|
740.50
|
742.00
|
1.50
|
<500 -
950
|
|
|
|
|
|
753.00
|
758.50
|
5.50
|
<500 -
1100
|
|
|
|
|
|
761.00
|
761.50
|
0.50
|
<500 -
650
|
|
|
|
|
|
773.00
|
779.00
|
6.00
|
<500 -
1500
|
|
|
|
|
|
800.00
|
802.50
|
2.50
|
<500 -
900
|
|
|
|
|
|
806.00
|
817.50
|
11.50
|
<500 -
1700
|
|
|
|
|
|
835.50
|
836.50
|
1.00
|
<500 -
1100
|
|
|
|
|
|
845.50
|
847.50
|
2.00
|
<500 -
1000
|
|
|
|
|
|
908.50
|
909.50
|
1.00
|
<500 -
890
|
|
|
|
|
|
913.50
|
914.00
|
0.50
|
<500 -
650
|
|
|
|
|
|
918.00
|
918.50
|
0.50
|
<500 -
530
|
|
|
|
|
|
935.50
|
936.00
|
0.50
|
<500 -
520
|
|
|
|
|
|
939.00
|
941.50
|
2.50
|
<500 -
1350
|
AR-16-78c2
|
138
|
-68
|
603.00
|
110.95
|
309.00
|
309.50
|
0.50
|
<500 -
510
|
|
|
|
|
|
396.50
|
409.00
|
12.50
|
<500 -
1250
|
|
|
|
|
|
412.50
|
415.50
|
3.00
|
<500 -
550
|
|
|
|
|
|
427.50
|
433.50
|
6.00
|
<500 -
2500
|
|
|
|
|
|
438.00
|
438.50
|
0.50
|
<500 -
650
|
|
|
|
|
|
441.00
|
442.50
|
1.50
|
<500 -
3000
|
|
|
|
|
|
445.00
|
448.00
|
3.00
|
<500 -
3100
|
|
|
|
|
|
454.00
|
472.50
|
18.50
|
<500 -
61000
|
|
|
|
|
|
488.00
|
500.00
|
12.00
|
<500 -
61000
|
|
|
|
|
|
592.00
|
592.50
|
0.50
|
<500 -
900
|
AR-16-78c3
|
138
|
-68
|
630.00
|
110.95
|
371.50
|
379.50
|
8.00
|
<500 -
1200
|
|
|
|
|
|
383.00
|
390.50
|
7.50
|
<500 -
2100
|
|
|
|
|
|
394.50
|
401.50
|
7.00
|
<500 -
6000
|
|
|
|
|
|
404.50
|
406.00
|
1.50
|
<500 -
1200
|
|
|
|
|
|
419.50
|
420.00
|
0.50
|
<500 -
500
|
|
|
|
|
|
438.00
|
442.00
|
4.00
|
<500 -
2100
|
|
|
|
|
|
456.50
|
492.00
|
35.50
|
<500 -
61000
|
|
|
|
|
|
518.00
|
520.00
|
2.00
|
<500 -
2400
|
|
|
|
|
|
522.50
|
529.00
|
6.50
|
<500 -
61000
|
|
|
|
|
|
532.00
|
533.00
|
1.00
|
<500 -
1300
|
|
|
|
|
|
553.50
|
558.00
|
4.50
|
<500 -
1900
|
|
|
|
|
|
563.00
|
565.00
|
2.00
|
650 -
6700
|
|
|
|
|
|
576.50
|
581.50
|
5.00
|
<500 -
1000
|
|
|
|
|
|
588.00
|
588.50
|
0.50
|
<500 -
700
|
|
|
|
|
|
595.50
|
597.00
|
1.50
|
<500 -
950
|
|
|
|
|
|
601.50
|
605.00
|
3.50
|
<500 -
900
|
|
|
|
|
|
614.00
|
620.00
|
6.00
|
<500 -
1500
|
|
|
|
|
|
625.00
|
625.50
|
0.50
|
<500 -
650
|
|
|
|
|
|
628.50
|
629.00
|
0.50
|
<500 -
800
|
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 contained in this news
release.
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-16-74c4
Hole AR-16-74c4 was a directional hole that departed pilot hole
AR-16-74c3 at a depth of 357.0 m. It tested the A2 shear 16 m
up-dip and northeast of AR-15-56c1 (4.20% U3O8 over 11.0 m in the
A2 shear) and the A3 shear 33 m up-dip and northeast of AR-15-56c1
(12.06% U3O8 over 6.5 m and 1.14% U3O8 over 28.0 m in the A3
shear). Directional drilling was initiated at 357.0 m. The A2 and
A3 shears were both intersected at an inclination of -72°.
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 through A4 shears). The hole successfully intersected weakly to
strongly anomalous radioactivity in the A2 through A4 shears that
was associated with veins, stringers, chemical solution fronts,
worm-rock style, flecks and blebs of pitchblende. A total composite
mineralization of 143.0 m including 9.9 m of off-scale
radioactivity (>10,000 - >61,000 cps) was intersected within
a 440.0 m section (457.5 to 897.5 m). In the A2 shear, 92.5 m of
total composite mineralization including 4.55 m of off-scale
radioactivity was intersected. In the A3 shear, 34.5 m of total
composite mineralization including 4.6 m of off-scale radioactivity
was intersected. In the A4 shear, 15.5 m of composite
mineralization including 0.75 m of off-scale radioactivity was
intersected. The hole was terminated at 930.0 m.
AR-16-76c2
Hole AR-16-76c2 was a directional hole that departed pilot hole
AR-16-76c1 at a depth of 281 m. It tested the A2 shear 24 m
down-dip and southwest of AR-15-54c1 (7.03% U3O8 over 39.5 m in the
A2 shear). Directional drilling was initiated at 291.0 m and the A2
shear was intersected at an inclination of -69°.
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
semi-massive to massive veins, stringers, worm-rock style, chemical
solution fronts, blebs and flecks of pitchblende. A total composite
mineralization of 33.0 m including 7.05 m of off-scale
radioactivity (>10,000 - >61,000 cps) was intersected within
a 167.0 m section (435.0 to 602.0 m), all within the A2 shear. The
hole was terminated at 609.0 m.
AR-16-76c3
Hole AR-16-76c3 was a directional hole that departed pilot hole
AR-16-76c2 at a depth of 296.0 m. It tested the A2 shear 20 m
down-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). Directional drilling was
initiated at 306.0 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 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
67.5 m including 24.35 m of off-scale radioactivity (>10,000 -
>61,000 cps) was intersected within a 124.5 m section (470.5 to
595.0 m), all within the A2 shear. The hole was terminated at 606.0
m.
AR-16-76c4
Hole AR-16-76c4 was a directional hole that departed pilot hole
AR-16-76c3 at a depth of 310.0 m. It tested the A2 shear 34 m
down-dip and southwest of AR-16-76c3 (24.35 m of off-scale
radioactivity in the A2 shear, assays pending). Directional
drilling was initiated at 438.0 m and the A2 shear was intersected
at an inclination of -73°.
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 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
105.7 m including 20.85 m of off-scale radioactivity (>10,000 -
>61,000 cps) was intersected within a 171.5 m section (494.0 to
665.5 m). The hole was terminated at 668.0 m immediately
following the A2 to avoid twinning a previous hole. It
represents a significant step out on the A2 high grade domain.
AR-16-77c1
Hole AR-16-77c1 was a directional hole collared from surface at
an angled orientation (-75°) to the southeast (140° azimuth).
It was designed to test for the presence of mineralization 150 m
up-dip from AR-15-75 and 165 m southwest of the Arrow
Deposit. Directional drilling was initiated at 184.0 m. The
A3 and A4 shears were intersected at inclinations of -76° and -77°,
respectively.
The hole intersected moderately bleached Athabasca Group
sandstones between 91.9 m and the unconformity at 94.6 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 anomalous
radioactivity in the A3 and A4 shears that was associated with
disseminated flecks of and fractured-controlled pitchblende in
association with extensive and locally strong dravite
alteration. A total composite mineralization of 13.5 m was
intersected within an 81.0 m section (767.0 to 848.0 m). In
the A3 shear 1.5 m of composite mineralization was intersected. In
the A4 shear 12.0 m of composite mineralization was intersected.
The hole was terminated at 957.0 m. It has successfully grown the
strike length of Arrow to 865 m.
AR-16-77c2
Hole AR-16-77c2 was a directional hole that departed pilot hole
AR-16-77c1 at a depth of 180.0 m. It was designed to test the A3
and A4 shear approximately 150 m up-dip from AR-16-75 and
AR-16-77c1, southwest of the Arrow deposit. Directional drilling
was initiated at 192.0 m. The A4 shear was intersected at an
inclination of -72°.
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
A1 through A4 shears). The hole successfully intersected weakly to
strongly anomalous radioactivity in the A1 through A4 shears.
A total composite mineralization of 109.5 m including 2.3 m
of off-scale radioactivity (>10,000 to 50,000 cps) was
intersected within a 700.5 m section (231.0 to 931.5 m). The bulk
of the mineralization was intersected southwest along strike from
the A4 shear where 86.0 m of total composite mineralization, and
2.3 m of off-scale radioactivity was drilled in close association
with extensive and intense dravite alteration. In addition,
intermittent mineralization and alteration continued southeast of
the A4 shear where 22.0 m of total composite mineralization was
intersected before the hole was terminated at 987.0 m. The
hole represents a 180 m step-out southwest from the margin of the
Arrow Deposit Inferred Mineral Resource, and has increased the
width of Arrow to 275 m. The Company is very encouraged by both the
strength of the mineralization and the intensity of the dravite
alteration seen in the hole.
AR-16-78c2
Hole AR-16-78c2 was a directional hole that departed pilot hole
AR-16-78c1 at a depth of 227.0 m. It tested the A2 shear 22 m
down-dip and northeast of AR-15-49c2 (8.77% U3O8 over 69.0 m in the
A2 shear). Directional drilling was initiated at 252.0 m and the A2
shear was intersected at an inclination of -71°.
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
semi-massive to massive veins, stringers, worm-rock style, chemical
solution fronts, blebs and flecks of pitchblende. A total composite
mineralization of 58.0 m including 8.60 m of off-scale
radioactivity (>10,000 ->61,000 cps) was intersected within a
283.5 m section (309.0 to 592.5 m). The hole was terminated at
603.0 m.
AR-16-78c3
Hole AR-16-78c3 was a directional hole that departed pilot hole
AR-16-78c2 at a depth of 252.0 m. It tested the A2 shear 21 m
down-dip and northeast of AR-15-34b (2.20% U3O8 over 70.0 m in the
A2 shear). Directional drilling was initiated at 264.0 m and the A2
shear was intersected at an inclination of -72°.
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
semi-massive to massive veins, stringers, worm-rock style, chemical
solution fronts, blebs and flecks of pitchblende. A total composite
mineralization of 97.5 m including 3.65 m of off-scale
radioactivity (>10,000 ->61,000 cps) was intersected within a
257.5 m section (371.5 to 629.0 m). The hole was terminated at
630.0 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 M lbs
U3O8 contained in 3.48 M tonnes grading 2.63%
U3O8. Rook I also hosts the Bow
Discovery which is 3.7 km 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 proposed
use of proceeds 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, no known mineral reserves or resources, 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.