VANCOUVER, May 19, 2016 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSXV:NXE,
OTCQX:NXGEF) is pleased to announce further results from the
winter-spring drilling program on our 100% owned Rook I Property,
Athabasca Basin,
Saskatchewan. Eight drill holes have intersected extensive
mineralization, and off-scale radioactivity (>10,000 to
>61,000 cps) has been intersected in each of the A1, A2, A3 and
A4 shears.
Within the A1 shear, the high grade mineralized interval from
hole AR-16-84c1 (8.35 m of off-scale radioactivity with assays
pending – see News Release dated April 14,
2016) has been confirmed and expanded with two
further drill holes. This is highlighted by hole
AR-16-84c3 which was drilled 33 m down-dip and southwest of -84c1
intersected 35.5m of total composite mineralization, including 2.6
m of total composite off-scale mineralization. This new
area of high grade mineralization in the A1 shear is well outside
and not part of the maiden Arrow deposit resource estimate that
only includes drilling up to October 2015.
Drilling has also continued to confirm the robust nature of
mineralization in the A2 shear where drill holes AR-16-80c4,
-81c3, and -86c1 all individually intersected more than 10 m of
total composite off-scale mineralization. There is significant
potential for expansion of the A2 high grade domain around each of
these holes, and substantial massive to semi-massive uranium
mineralization was intersected and remains wide open up dip and
southwest from hole AR-16-86c1 in the higher grade A2 sub-zone
(the "Sub-Zone").
Hole AR-16-86c1 returned the largest total composite
mineralization to date across the A2 to A4 shears. It was
drilled at the currently defined southwest extent of the Sub-Zone
intersecting 92.0 m of total composite mineralization in the A3
shear, and 246.0 m of total composite mineralization throughout
the entire hole.
Within the A4 shear, 3.6 m of off-scale radioactivity has been
intersected in drill hole AR-16-86c1, which is a 19 m step out
down-dip from hole AR-16-76c1 (1.97% U3O8 over 28.0 m in the A4
shear - see News Release May 5,
2016).
Highlights:
A1 Shear:
- AR-16-84c3 (33 m down-dip and southwest from AR-16-84c1)
intersected 35.5 m of total composite mineralization
including 2.6 m of total composite off-scale radioactivity
(>10,000 – 51,000 cps) within a 95.0 m section (677.5 to 772.5
m).
A2 Shear:
- AR-16-86c1 (84 m up-dip and southwest from AR-15-44b)
intersected 90.0 m of total composite mineralization
including 13.05 m of total composite off-scale radioactivity
(>10,000 – >61,000 cps) within a 115.5 m section (404.0 to
519.5 m) in the Sub-Zone.
- AR-16-81c3 (23 m down-dip and southwest from AR-16-80c4)
intersected 48.5 m of total composite mineralization
including 11.65 m of total composite off-scale radioactivity
(>10,000 – >61,000 cps) within a 97.5 m section (513.5 to
611.0 m) in the Sub-Zone.
A3 Shear:
- AR-16-86c1 (32 m down-dip and southwest from AR-15-48c1)
intersected 92.0 m of total composite mineralization
including 0.2 m of total composite off-scale radioactivity
(>10,000 – 15,000 cps) within a 130.0 m section (562.5 to 692.5
m).
A4 Shear:
- AR-16-86c1 (19 m down-dip from AR-16-76c1) intersected
63.5 m of total composite mineralization including 3.6 m
of total composite off-scale radioactivity (>10,000 – 43,000
cps) within a 149.0 m section (696.5 to 845.5 m).
Table 1: Higher
Grade A2 Sub-Zone Angled Drill Holes
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 =
|
75.5m
|
42.0m
|
86.0m
|
143.0m
|
135.6m
|
73.5m
|
62.5m
|
Total Off-scale
(>10,000 to 29,999 cps)3 =
|
11.4m
|
5.9m
|
14.3m
|
17.7m
|
30.3m
|
15.7m
|
4.4m
|
Total Off-scale
(>30,000 to 60,999 cps)3 =
|
4.5m
|
3.0m
|
3.8m
|
10.6m
|
7.8m
|
5.2m
|
2.5m
|
Total Off-scale
(>61,000 cps)3 =
|
1.0m
|
0.5m
|
2.0m
|
2.0m
|
1.5m
|
2.2m
|
1.8m
|
Continuous GT (Grade
x Thickness) =
|
371
|
277
|
200
and
345
|
787
|
655
|
605
|
319
|
2016
|
AR-16-
81c3
|
AR-16-
76c41
|
AR-16-
76c12
|
AR-16-
76c31
|
AR-16-
63c12
|
AR-16-
63c32
|
AR-16-
86c1
|
AR-16-
74c12
|
AR-16-
63c22
|
AR-16-
64c32
|
AR-16-
64c22
|
AR-16-
64c12
|
AR-16-
72c22
|
AR-16-
78c11
|
AR-16-
78c41
|
Total composite
mineralization =
|
48.5m
|
105.7m
|
73.5m
|
67.5m
|
55.5m
|
147.0m
|
90.0m
|
88.0m
|
138.0m
|
102.0m
|
76.0m
|
74.0m
|
93.0m
|
64.0m
|
120.5m
|
Total Off-scale
(>10,000 to 29,999 cps)3 =
|
5.2m
|
19.9m
|
14.7m
|
14.9m
|
6.9m
|
22.1m
|
8.8m
|
21.2m
|
17.1m
|
18.8m
|
16.0m
|
10.3m
|
7.0m
|
11.6m
|
25.8m
|
Total Off-scale
(>30,000 to 60,999 cps)3 =
|
4.0m
|
1.0m
|
2.7m
|
5.0m
|
0.5m
|
3.0m
|
2.3m
|
1.2m
|
9.9m
|
2.5m
|
4.7m
|
3.7m
|
0.5m
|
3.0m
|
6.2m
|
Total Off-scale
(>61,000 cps)3 =
|
2.5m
|
0.0m
|
5.3m
|
4.5m
|
0.0m
|
0.5m
|
2.0m
|
0.0m
|
13.9m
|
0.0m
|
5.5m
|
0.0m
|
1.7m
|
2.5m
|
5.5m
|
Continuous GT (Grade
x Thickness) =
|
Assays
Pending
|
Assays
Pending
|
762
|
Assays
Pending
|
203
|
274
and
124
|
Assays
Pending
|
160
and
35
|
638
and
604
|
172
and
92
|
541
|
338
|
156
and
45
|
Assays
Pending
|
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 280 m with a vertical extent of
mineralization commencing from 100 m to 920 m, and remains
open in most directions and at depth.
- The spring 2016 program comprising 7,500 m of drilling
continues with three drill rigs active. Concurrently, preparations
are underway for a 30,000 m summer drill program to begin in mid to
late June.
- The Company has cash on hand of $28M.
Drill hole location maps, and a close-up of the A2 longsection
are shown in Figures 1 to 3.
Garrett Ainsworth,
Vice-President, Exploration and Development, commented: "These
latest drill results of infill drilling continues to rapidly expand
the size and scale of Arrow. Drill hole AR-16-86c1 has
returned the highest total composite mineralization to date, which
demonstrates the strength and width extent of the mineralizing
system responsible for precipitating the Arrow deposit."
Leigh Curyer, Chief Executive Officer commented: "There are 27
assays pending from the winter program which includes 6 assays from
the Sub-Zone and we are still actively drilling with 3 rigs.
In total 42 holes have been drilled at Arrow since the resource
estimate and we plan to more than double that number by year-end.
Planning for an expanded summer 2016 drill program is in process
which will include infill and expansion drilling around Arrow, the
180 m southwest extension, Cannon and regional targets along trend
from Arrow."
Table 2: Arrow Deposit 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-16-80c4
|
147
|
-70
|
792.00
|
112.20
|
488.50
|
493.00
|
4.50
|
<500 -
3800
|
497.50
|
507.00
|
9.50
|
<500 -
27000
|
511.00
|
526.00
|
15.00
|
<500 -
61000
|
529.00
|
552.00
|
23.00
|
<500 -
61000
|
572.00
|
572.50
|
0.50
|
<500 -
600
|
575.00
|
579.00
|
4.00
|
<500 -
3700
|
584.50
|
587.50
|
3.00
|
<500 -
900
|
603.50
|
604.50
|
1.00
|
<500 -
720
|
AR-16-81c2
|
145
|
-69
|
942.00
|
111.00
|
498.00
|
507.50
|
9.50
|
<500 -
48000
|
518.00
|
522.50
|
4.50
|
<500 -
16000
|
525.50
|
533.50
|
8.00
|
<500 -
42000
|
570.50
|
571.50
|
1.00
|
<500 -
1400
|
583.00
|
583.50
|
0.50
|
<500 -
630
|
600.00
|
600.50
|
0.50
|
<500 -
4900
|
608.50
|
610.00
|
1.50
|
<500 -
2800
|
630.50
|
634.00
|
3.50
|
<500 -
1150
|
637.00
|
643.50
|
6.50
|
<500 -
6400
|
647.50
|
650.50
|
3.00
|
<500 -
1700
|
653.00
|
659.00
|
6.00
|
<500 -
2500
|
662.50
|
663.00
|
0.50
|
<500 -
1900
|
671.00
|
672.00
|
1.00
|
<500 -
8500
|
678.00
|
682.50
|
4.50
|
<500 -
1800
|
704.00
|
710.50
|
6.50
|
<500 -
1600
|
713.50
|
715.50
|
2.00
|
<500 -
1050
|
721.00
|
721.50
|
0.50
|
<500 -
1600
|
724.50
|
729.50
|
5.00
|
<500 -
3900
|
741.50
|
742.00
|
0.50
|
<500 -
700
|
744.50
|
748.50
|
4.00
|
<500 -
1400
|
758.50
|
759.00
|
0.50
|
<500 -
950
|
763.00
|
763.50
|
0.50
|
<500 -
530
|
766.00
|
775.00
|
9.00
|
<500 -
2400
|
783.50
|
784.00
|
0.50
|
<500 -
800
|
792.50
|
797.50
|
5.00
|
<500 -
1800
|
802.00
|
804.50
|
2.50
|
<500 -
800
|
807.50
|
810.50
|
3.00
|
<500 -
2100
|
819.50
|
826.00
|
6.50
|
<500 -
10500
|
844.50
|
845.50
|
1.00
|
<500 -
1000
|
850.50
|
859.50
|
9.00
|
<500 -
43000
|
869.00
|
872.00
|
3.00
|
<500 -
45000
|
877.00
|
877.50
|
0.50
|
<500 -
1200
|
882.50
|
888.50
|
6.00
|
<500 -
40000
|
893.50
|
895.00
|
1.50
|
<500 -
30000
|
897.50
|
899.00
|
1.50
|
<500 -
1700
|
901.50
|
902.30
|
0.80
|
<500 -
61000
|
905.50
|
909.00
|
3.50
|
<500 -
32000
|
AR-16-81c3
|
145
|
-69
|
932.00
|
111.00
|
513.50
|
518.50
|
5.00
|
<500 -
3000
|
521.00
|
531.50
|
10.50
|
<500 -
5100
|
535.50
|
539.50
|
4.00
|
<500 -
2000
|
546.50
|
568.50
|
22.00
|
<500 -
61000
|
594.50
|
595.50
|
1.00
|
<500 -
1050
|
605.00
|
611.00
|
6.00
|
<500 -
3300
|
615.00
|
615.50
|
0.50
|
<500 -
650
|
620.50
|
622.00
|
1.50
|
<500 -
2000
|
628.00
|
628.50
|
0.50
|
<500 -
620
|
634.00
|
635.50
|
1.50
|
<500 -
3800
|
645.00
|
650.50
|
5.50
|
<500 -
2650
|
661.50
|
665.00
|
3.50
|
<500 -
1900
|
667.50
|
677.00
|
9.50
|
<500 -
5300
|
698.00
|
698.50
|
0.50
|
<500 -
520
|
704.00
|
712.00
|
8.00
|
<500 -
8900
|
717.00
|
718.00
|
1.00
|
<500 -
1700
|
725.00
|
729.50
|
4.50
|
<500 -
550
|
765.00
|
769.00
|
4.00
|
<500 -
1200
|
782.50
|
783.00
|
0.50
|
<500 -
580
|
805.00
|
805.50
|
0.50
|
<500 -
1000
|
818.50
|
826.50
|
8.00
|
<500 -
6020
|
829.50
|
830.00
|
0.50
|
<500 -
1100
|
833.50
|
834.00
|
0.50
|
<500 -
1670
|
840.50
|
848.50
|
8.00
|
<500 -
2200
|
894.50
|
898.00
|
3.50
|
<500 -
53000
|
905.00
|
905.50
|
0.50
|
<500 -
1350
|
AR-16-84c2
|
328
|
-70
|
864.00
|
127.00
|
409.50
|
413.00
|
3.50
|
<500 -
2500
|
417.00
|
420.00
|
3.00
|
<500 -
1400
|
423.00
|
423.50
|
0.50
|
<500 -
580
|
440.50
|
441.00
|
0.50
|
<500 -
710
|
451.00
|
451.50
|
0.50
|
<500 -
1100
|
458.50
|
459.00
|
0.50
|
<500 -
800
|
470.00
|
474.00
|
4.00
|
<500 -
770
|
476.50
|
478.00
|
1.50
|
<500 -
610
|
480.50
|
483.00
|
2.50
|
<500 -
950
|
487.00
|
491.00
|
4.00
|
<500 -
1300
|
499.50
|
500.00
|
0.50
|
<500 -
700
|
516.00
|
521.00
|
5.00
|
<500 -
2200
|
536.00
|
537.00
|
1.00
|
<500 -
1000
|
542.50
|
551.50
|
9.00
|
<500 -
2500
|
554.00
|
574.50
|
20.50
|
<500 -
61000
|
580.00
|
581.50
|
1.50
|
<500 -
13000
|
584.50
|
586.50
|
2.00
|
<500 -
40000
|
589.00
|
589.50
|
0.50
|
<500 -
530
|
597.00
|
597.50
|
0.50
|
<500 -
750
|
615.50
|
617.50
|
2.00
|
<500 -
850
|
624.50
|
625.50
|
1.00
|
<500 -
1150
|
672.00
|
683.00
|
11.00
|
<500 -
2700
|
685.50
|
686.00
|
0.50
|
<500 -
3600
|
698.50
|
701.00
|
2.50
|
<500 -
600
|
703.50
|
706.50
|
3.00
|
<500 -
1500
|
710.00
|
710.50
|
0.50
|
<500 -
550
|
AR-16-84c3
|
328
|
-70
|
813.00
|
127.00
|
420.00
|
423.00
|
3.00
|
<500 -
2400
|
427.00
|
427.50
|
0.50
|
<500 -
550
|
433.00
|
434.00
|
1.00
|
<500 -
850
|
437.00
|
444.50
|
7.50
|
<500 -
1600
|
452.00
|
453.00
|
1.00
|
<500 -
5200
|
458.00
|
460.50
|
2.50
|
<500 -
2100
|
473.00
|
475.00
|
2.00
|
<500 -
650
|
478.00
|
479.50
|
1.50
|
<500 -
1000
|
483.50
|
484.00
|
0.50
|
<500 -
510
|
490.50
|
496.00
|
5.50
|
<500 -
700
|
508.00
|
511.00
|
3.00
|
<500 -
1000
|
542.00
|
569.00
|
27.00
|
<500 -
61000
|
576.00
|
580.00
|
4.00
|
<500 -
61000
|
585.00
|
585.50
|
0.50
|
<500 -
550
|
590.50
|
592.50
|
2.00
|
<500 -
1700
|
677.50
|
680.00
|
2.50
|
<500 -
9000
|
692.00
|
693.50
|
1.50
|
<500 -
1900
|
696.50
|
697.50
|
1.00
|
<500 -
6000
|
704.00
|
715.50
|
11.50
|
<500 -
51000
|
719.50
|
733.50
|
14.00
|
<500 -
26000
|
743.50
|
744.00
|
0.50
|
<500 -
720
|
765.50
|
768.00
|
2.50
|
<500 -
1850
|
770.50
|
772.50
|
2.00
|
<500 -
700
|
AR-16-85c1
|
143
|
-70
|
978.00
|
114.40
|
404.50
|
405.00
|
0.50
|
<500 -
550
|
410.00
|
410.50
|
0.50
|
<500 -
600
|
416.50
|
418.00
|
1.50
|
<500 -
1600
|
430.50
|
432.00
|
1.50
|
<500 -
750
|
435.00
|
435.50
|
0.50
|
<500 -
820
|
443.00
|
444.00
|
1.00
|
<500 -
550
|
462.00
|
483.00
|
21.00
|
<500 -
61000
|
591.00
|
591.50
|
0.50
|
<500 -
1200
|
594.00
|
595.00
|
1.00
|
<500 -
750
|
597.50
|
598.00
|
0.50
|
<500 -
570
|
636.50
|
647.50
|
11.00
|
<500 -
1800
|
652.50
|
653.50
|
1.00
|
<500 -
1100
|
660.00
|
660.50
|
0.50
|
<500 -
510
|
663.50
|
674.00
|
10.50
|
<500 -
12000
|
680.50
|
681.00
|
0.50
|
<500 -
600
|
702.50
|
703.00
|
0.50
|
<500 -
540
|
706.00
|
709.00
|
3.00
|
<500 -
550
|
733.00
|
734.00
|
1.00
|
<500 -
900
|
816.00
|
817.00
|
1.00
|
<500 -
4100
|
825.00
|
831.00
|
6.00
|
<500 -
2750
|
835.50
|
838.50
|
3.00
|
<500 -
5600
|
851.50
|
852.00
|
0.50
|
<500 -
700
|
864.50
|
871.50
|
7.00
|
<500 -
2200
|
874.50
|
875.00
|
0.50
|
<500 -
520
|
878.50
|
879.00
|
0.50
|
<500 -
1500
|
893.00
|
895.50
|
2.50
|
<500 -
11000
|
921.00
|
922.00
|
1.00
|
<500 -
1300
|
940.00
|
942.00
|
2.00
|
<500 -
5100
|
954.50
|
955.00
|
0.50
|
<500 -
3600
|
AR-16-85c2
|
143
|
-70
|
606.00
|
114.40
|
428.00
|
445.50
|
17.50
|
<500 -
30000
|
448.00
|
454.50
|
6.50
|
<500 -
1200
|
459.50
|
464.00
|
4.50
|
<500 -
1900
|
471.50
|
472.00
|
0.50
|
<500 -
510
|
479.00
|
493.50
|
14.50
|
<500 -
1300
|
528.00
|
528.50
|
0.50
|
<500 -
600
|
531.00
|
531.50
|
0.50
|
<500 -
650
|
580.00
|
580.50
|
0.50
|
<500 -
800
|
600.00
|
601.00
|
1.00
|
<500 -
600
|
AR-16-86c1
|
142
|
-71
|
897.00
|
110.50
|
256.50
|
257.00
|
0.50
|
<500 -
510
|
404.00
|
446.50
|
42.50
|
<500 -
61000
|
452.50
|
487.50
|
35.00
|
<500 -
3600
|
494.00
|
500.50
|
6.50
|
<500 -
1800
|
513.50
|
519.50
|
6.00
|
<500 -
1100
|
562.50
|
566.00
|
3.50
|
<500 -
1100
|
575.00
|
577.50
|
2.50
|
<500 -
650
|
580.50
|
625.00
|
44.50
|
<500 -
8100
|
632.00
|
632.50
|
0.50
|
<500 -
560
|
636.50
|
665.00
|
28.50
|
<500 -
15000
|
670.00
|
671.00
|
1.00
|
<500 -
1250
|
681.00
|
692.50
|
11.50
|
<500 -
6500
|
696.50
|
719.00
|
22.50
|
<500 -
25000
|
722.50
|
725.00
|
2.50
|
<500 -
3550
|
729.50
|
730.00
|
0.50
|
<500 -
1300
|
744.00
|
756.00
|
12.00
|
<500 -
25000
|
758.50
|
760.00
|
1.50
|
<500 -
6900
|
767.50
|
769.00
|
1.50
|
<500 -
8800
|
817.50
|
824.50
|
7.00
|
<500 -
43000
|
829.50
|
845.50
|
16.00
|
<500 -
43000
|
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 DEPOSIT DRILLING
AR-16-80c4
Hole AR-16-80c4 was a directional hole that departed pilot hole
AR-16-80c3 at 282 m. It tested the A2 shear 23 m down-dip and
northeast of AR-16-59c2 (5.42% U3O8 over 68.5 m in the A2 shear).
Directional drilling was initiated at 297 m and the A2 shear was
intersected an at an inclination of -67°.
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 60.5 m including 10.7 m of off-scale
radioactivity (>10,000 - >61,000 cps) was intersected within
a 94.0 m section (488.5 to 604.5 m) before the hole was terminated
at 618.0 m.
AR-16-81c2
Hole AR-16-81c2 was a directional hole that departed pilot hole
AR-16-81c1 at 261 m. It tested the A2 shear 25 m down-dip and
southwest of AR-16-59c2 (5.42% U3O8 over 68.5 m in the A2 shear)
and the A3 shear 38 m down-dip and southwest of AR-16-81c1.
Directional drilling was initiated at 285 m. The A2 and A3 shears
were both intersected at an inclination of -66°.
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 stringers, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 123.3 m
including 9.9 m of off-scale radioactivity (>10,000 - >61,000
cps) was intersected within a 411.0 m section (498.0 to 909.0 m).
In the A2 shear 23.0 m of composite mineralization was intersected
including 4.9 m of off-scale radioactivity. In the A3 shear, 36.0 m
of composite mineralization was intersected. In the A4 shear 37.5 m
of composite mineralization was intersected including 0.1 m of
off-scale radioactivity. In addition, intermittent mineralization
and alteration continued past the A4 shear where 26.8 m of total
composite mineralization including 4.9 m of off-scale radioactivity
was intersected before the hole was terminated at 942.0 m.
AR-16-81c3
Hole AR-16-81c3 was a directional hole that departed pilot hole
AR-16-81c2 at 285 m. It tested the A2 shear 23 m down-dip and
southwest of AR-16-80c4 (10.7 m of off-scale radioactivity in the
A2 shear, assays pending) and the A3 shear 38 m down-dip and
northeast of AR-16-81c2. Directional drilling was initiated at 438
m. The A2 and A3 shears were intersected at inclinations of -67°
and -66°, 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 through A4 shears). The hole successfully intersected weakly to
strongly anomalous radioactivity in the A2 through A4 shears that
was associated with stringers, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 111.0 m
including 12.1 m of off-scale radioactivity (>10,000 -
>61,000 cps) was intersected within a 392.0 m section (513.5 to
905.5 m). In the A2 shear 48.5 m of composite mineralization was
intersected including 11.65 m of off-scale radioactivity. In the A3
shear 36.5 m of composite mineralization was intersected. In the A4
shear 25.5 m of composite mineralization was intersected including
0.45 m of off-scale radioactivity. The hole was terminated at 932.0
m.
AR-16-84c2
Hole AR-16-84c2 was a directional hole that departed pilot hole
AR-16-84c1 at 234 m. It tested the A2 shear 17 m down-dip and to
the northeast of AR-16-64c2 (11.15% U3O8 over 48.5 m in the A2
shear) and the A1 shear 44 m down-dip and southwest of AR-16-84c1
(8.35 m of off-scale radioactivity in the A1 shear, assays
pending). Directional drilling was initiated at 264 m. The A1 and
A2 shears were intersected at inclinations of -66° and -67°,
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
A1 through A3 shears). The hole successfully intersected weakly to
strongly anomalous radioactivity in the A1 through A3 shears that
was associated with stringers, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 81.5 m
of mineralization including 6.3 m of off-scale radioactivity
(>10,000 - >61,000 cps) was intersected within a 301 m
section (409.5 to 710.5 m). In the A1 shear 17.5 m of composite
mineralization was intersected. In the A2 shear 55.5 m of composite
mineralization was intersected including 6.3 m of off-scale
radioactivity. In the A3 shear 8.5 m of composite mineralization
was intersected. The hole was terminated at 864.0 m.
AR-16-84c3
Hole AR-16-84c3 was a directional hole that departed pilot hole
AR-16-84c2 at a depth of 264 m. It tested the A2 shear 15 m up-dip
and southwest from AR-16-84c2 (6.3 m of off-scale radioactivity in
the A2 shear, assays pending) and the A1 shear 33 m down-dip and
southwest of AR-16-84c1 (8.35 m of off-scale radioactivity, assays
pending). Directional drilling was initiated at 285 m. The A1 and
A2 shears were intersected at inclinations of -63° and -66°,
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
A1 through A3 shears). The hole successfully intersected weakly to
strongly anomalous radioactivity in the A1 through A3 shears that
was associated with stringers, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 97.0 m
of mineralization including 11.95 m of off-scale radioactivity
(>10,000 - >61,000 cps) was intersected within a 352.5 m
section (420.0 to 772.5 m). In the A1 shear 35.5 m of
mineralization including 2.6 m of off-scale radioactivity was
intersected. In the A2 shear 46.0 m of composite mineralization
including 9.35 m of off-scale radioactivity was intersected. In the
A3 shear 15.5 m of composite mineralization was intersected. The
hole was terminated at 813.0 m.
AR-16-85c1
Hole AR-16-85c1 was a directional hole collared from surface at
an angled orientation (-70°) to the southeast (143° azimuth). It
tested the A2 shear 21 m up-dip and northeast of AR-15-54c1 (7.03%
U3O8 over 39.5 m in the A2 shear) and the A3 shear 86 m down-dip
and southwest AR-15-48c1 (5.43% U3O8 over 24.0 m). Directional
drilling was initiated at 231 m. The A2 and A3 shears were
intersected at inclinations of -70° and -69°,
respectively.
The hole intersected strongly to intensely bleached Athabasca
Group sandstones between 99.0 m and the unconformity at 114.4 m.
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 widespread anomalous radioactivity in the A2 through A4
shears that was associated with semi-massive to massive veins,
stringers, chemical solution fronts, blebs and flecks of
pitchblende. A total composite mineralization of 81.0 m including
3.5 m of off-scale radioactivity (>10,000 - >61,000 cps) was
intersected within a 550.5 m section (404.5 to 955.0 m). In the A2
shear, 26.5 m of composite mineralization was intersected including
3.15 m of off-scale radioactivity. In the A3 shear, 29.0 m of
composite mineralization was intersected including 0.2 of off-scale
radioactivity. In the A4 shear, 25.5 m of composite mineralization
was intersected including 0.15 m of off-scale radioactivity. The
hole was terminated at 978.0 m.
AR-16-85c2
Hole AR-16-85c2 was a directional hole that departed pilot hole
AR-16-85c1 at 253 m. It tested the A2 shear 26 m up-dip and
northeast of AR-16-76c1 (11.29% U3O8 over 67.5 m in the A2 shear).
Directional drilling was initiated at 264 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, worm-rock style, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 46.0 m
including 1.15 m of off-scale radioactivity was intersected within
a 173.0 m section (428.0 to 601.0 m) before the hole was terminated
at 606 m.
AR-16-86c1
Hole AR-16-86c1 was a directional hole collared from surface at
an angled orientation (-70°) to the southeast (143° azimuth). It
tested the A2 shear 17 m down-dip and southwest of AR-16-48c1
(0.91% U3O8 over 60.0 m in the A2 shear) and the A3 shear 32 m
down-dip and southwest of AR-16-48c1 (5.43% U3O8 over 24.0 m in the
A3 shear). Directional drilling was initiated at 225.0 m. The A2
and A3 shear were intersected at inclinations of -69° and -70°,
respectively.
The hole intersected strongly to intensely bleached and
desilicified Athabasca Group sandstones between 99.0 m and the
unconformity at 110.5 m. 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 widespread anomalous radioactivity in the
A2 through A4 shears that was associated with semi-massive to
massive veins, stringers, chemical solution fronts, blebs and
flecks of pitchblende. A total composite mineralization of 246.0 m
including 16.85 m of off-scale radioactivity (>10,000 to
>61,000 cps) was intersected within a 589.0 m section (256.5 to
845.5 m). In the A2 shear 90.0 m of composite mineralization
including 13.05 m of off-scale radioactivity was intersected. In
the A3 shear 92.0 m of composite mineralization including 0.2 m of
off-scale radioactivity was intersected. In the A4 shear 63.5 m of
composite mineralization including 3.6 m of off-scale radioactivity
was intersected. The hole was terminated at 897 m.
REGIONAL DRILLING
Throughout the Winter 2016 season the Company completed eight
holes regionally on the Rook I property in three areas. No
mineralization was intersected.
Holes RK-16-84, -85, -87, -89 were drilled as a fence
approximately 190 m along strike to the northeast of the Arrow
resource grade shell. Each of the holes intersected highly
prospective structure and/or alteration and the area remains
prospective at depth.
Hole RK-16-94 tested the termination of the VTEM conductor
approximately 1,000 m southwest of the Bow discovery. Intermittent
and locally strong clay, chlorite and hematite alteration was
encountered throughout the basement.
Holes RK-16-95 through -97 were drilled as a fence to test a
near coincident circular gravity low and VTEM conductor break
between the Arrow Deposit and the Cannon area. Again each of the
holes intersected highly prospective structures and/or
alteration.
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 connotation 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.