VANCOUVER, July 13, 2016 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSXV:NXE,
OTCQX:NXGEF) is pleased to announce further results from our
recently completed 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.
The new high grade zone within the A1 shear was initially
discovered with drill hole AR-16-84c1 (8.35 m of off-scale
radioactivity with assays pending – see News Release dated
April 14, 2016), and has been
significantly expanded towards the northeast with drill
holes AR-16-91c3 and -91c4. Holes -91c3 and -91c4 were
drilled 30 m up-dip and northeast and 25 m down-dip and northeast,
respectively from hole -84c1. The A1 shear currently has a
mineralized strike length of 360 m and remains largely
untested.
Substantial high grade mineralization also continues to be
encountered in the A2 shear. Drill holes AR-16-84c4,
-91c1, -91c3, -91c4 and -92c1 each intersected massive to
semi-massive pitchblende mineralization and significant off-scale
radioactivity with intervals at greater-than-61,000 cps.
Assay results remain pending for 30 holes, including
intensely mineralized holes from the A2 Sub-Zone and the newly
discovered area 180 m southwest of Arrow. Furthermore, six drill
rigs are now fully operational at Rook I, with a seventh rig
expected to start in mid-July.
Highlights:
A1 Shear:
- AR-16-91c3 (30 m up-dip and northeast from AR-16-84c1)
intersected 49.5 m of total composite mineralization
including 5.0 m of total composite off-scale radioactivity
(>10,000 – 54,000 cps) within a 150.0 m section (575.0 to 725.0
m).
- AR-16-91c4 (25 m down-dip and northeast from AR-16-84c1)
intersected 87.0 m of total composite mineralization
including 4.1 m of total composite off-scale radioactivity
(>10,000 – 29,000 cps) within a 133.0 m section (591.0 to 724.0
m).
A2 Shear:
- AR-16-91c4 (70 m up-dip and northeast from AR-15-44b)
intersected 78.5 m of total composite mineralization
including 9.65 m of total composite off-scale radioactivity
(>10,000 – >61,000 cps) within a 150.0 m section (425.5 to
575.5 m).
- AR-16-92c1 (23 m down-dip and southwest from AR-15-44b)
intersected 86.95 m of total composite mineralization
including 9.5 m of total composite off-scale radioactivity
(>10,000 – >61,000 cps) within a 111.5 m section (535.5 to
647.0 m).
Arrow, Activities & Financial
- The land-based and basement hosted Arrow Deposit currently
covers an area of 870 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 summer 2016 program comprising 35,000 m of drilling is
underway with six drill rigs active. A seventh drill rig will be
put into service in mid-July.
- The Company has cash on hand of approximately $100 million.
A drill hole location map, the A1 long section and a close-up of
the A2 long section are shown in Figures 1 to 3.
Garrett Ainsworth,
Vice-President, Exploration and Development, commented: "Drill
holes AR-16-91c3 and -91c4 in the A1 shear show excellent
extensions of high grade mineralization to the northeast of hole
-84c1, where there is over 300 m of existing strike length open to
test. Additionally, mineralization has been encountered
northwest of the A1 and southeast of the A4, which indicates
excellent potential to discover additional mineralized shears
laterally at the Arrow deposit. Drilling of the A2 high grade
domain continues to return outstanding high grade intervals
containing massive to semi-massive pitchblende."
Leigh Curyer, Chief Executive Officer commented: "Today's
results indicate Arrow has substantial growth potential within each
of the four shears as well as the A2 high grade domain. The team is
looking forward to the summer program results as we define the
current footprint of Arrow with infill and expansion drilling as
well as drilling at the new area 180 m southwest of Arrow and along
trend from Arrow where we see multiple high priority exploration
targets."
Table 1: 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-16-84c4
|
328
|
-70
|
651.00
|
127.00
|
415.00
|
415.50
|
0.50
|
<500 -
750
|
420.00
|
420.50
|
0.50
|
<500 -
920
|
424.00
|
424.50
|
0.50
|
<500 -
650
|
434.50
|
435.00
|
0.50
|
<500 -
600
|
440.00
|
444.00
|
4.00
|
<500 -
1700
|
471.50
|
475.50
|
4.00
|
<500 -
2300
|
480.00
|
480.50
|
0.50
|
<500 -
800
|
483.00
|
483.50
|
0.50
|
<500 -
950
|
490.50
|
493.50
|
3.00
|
<500 -
600
|
496.00
|
497.00
|
1.00
|
<500 -
750
|
502.00
|
503.00
|
1.00
|
<500 -
600
|
541.50
|
542.00
|
0.50
|
<500 -
820
|
545.50
|
546.00
|
0.50
|
<500 -
630
|
556.50
|
559.00
|
2.50
|
<500 -
930
|
566.00
|
588.00
|
22.00
|
<500 -
>61000
|
592.00
|
604.00
|
12.00
|
<500 -
6400
|
608.50
|
609.00
|
0.50
|
<500 -
520
|
612.00
|
616.00
|
4.00
|
<500 -
2800
|
AR-16-85c3
|
143
|
-70
|
840.00
|
114.40
|
419.50
|
424.00
|
4.50
|
<500 -
4300
|
429.00
|
430.50
|
1.50
|
<500 -
600
|
437.50
|
440.00
|
2.50
|
<500 -
2200
|
443.00
|
447.50
|
4.50
|
<500 -
1500
|
455.50
|
457.00
|
1.50
|
<500 -
2400
|
460.00
|
472.00
|
12.00
|
<500 -
3200
|
475.50
|
476.50
|
1.00
|
<500 -
1900
|
483.00
|
483.50
|
0.50
|
<500 -
600
|
486.00
|
498.50
|
12.50
|
<500 -
1100
|
503.00
|
503.50
|
0.50
|
<500 -
580
|
506.50
|
507.00
|
0.50
|
<500 -
680
|
515.00
|
517.50
|
2.50
|
<500 -
620
|
531.00
|
531.50
|
0.50
|
650 -
1100
|
549.50
|
552.00
|
2.50
|
<500 -
>61000
|
558.50
|
559.00
|
0.50
|
<500 -
550
|
567.50
|
568.00
|
0.50
|
<500 -
750
|
572.50
|
579.00
|
6.50
|
<500 -
30500
|
584.00
|
585.00
|
1.00
|
650 -
25000
|
611.00
|
612.00
|
1.00
|
<500 -
44000
|
614.50
|
617.50
|
3.00
|
<500 -
22000
|
629.50
|
630.50
|
1.00
|
<500 -
7200
|
633.00
|
633.50
|
0.50
|
<500 -
550
|
647.50
|
648.00
|
0.50
|
<500 -
2800
|
664.50
|
665.00
|
0.50
|
<500 -
1100
|
671.50
|
672.00
|
0.50
|
<500 -
4000
|
693.00
|
694.00
|
1.00
|
<500 -
18000
|
714.50
|
716.00
|
1.50
|
<500 -
5600
|
720.00
|
720.50
|
0.50
|
<500 -
730
|
789.50
|
790.50
|
1.00
|
<500 -
3300
|
AR-16-85c4
|
143
|
-70
|
822.00
|
114.40
|
426.50
|
443.00
|
16.50
|
<500 -
7000
|
453.50
|
454.50
|
1.00
|
<500 -
2300
|
457.00
|
472.50
|
15.50
|
<500 -
1500
|
476.50
|
480.50
|
4.00
|
<500 -
1250
|
484.50
|
485.50
|
1.00
|
<500 -
610
|
488.00
|
488.50
|
0.50
|
<500 -
530
|
492.00
|
492.50
|
0.50
|
<500 -
530
|
578.00
|
580.50
|
2.50
|
<500 -
5000
|
587.50
|
588.00
|
0.50
|
<500 -
780
|
591.50
|
595.50
|
4.00
|
<500 -
910
|
600.00
|
600.50
|
0.50
|
<500 -
530
|
604.00
|
604.50
|
0.50
|
<500 -
1050
|
613.00
|
613.50
|
0.50
|
<500 -
640
|
616.50
|
618.50
|
2.00
|
<500 -
3200
|
622.50
|
623.00
|
0.50
|
<500 -
700
|
628.00
|
637.50
|
9.50
|
<500 -
2100
|
670.00
|
670.50
|
0.50
|
<500 -
5300
|
683.00
|
684.50
|
1.50
|
<500 -
790
|
687.50
|
688.00
|
0.50
|
<500 -
590
|
690.50
|
696.00
|
5.50
|
<500 -
2300
|
742.50
|
743.50
|
1.00
|
<500 -
32000
|
747.00
|
750.50
|
3.50
|
<500 -
21000
|
760.00
|
761.00
|
1.00
|
<500 -
1250
|
AR-16-86c2
|
142
|
-71
|
750.00
|
110.50
|
402.00
|
419.50
|
17.50
|
<500 -
4800
|
424.50
|
426.00
|
1.50
|
<500 -
1400
|
431.50
|
432.00
|
0.50
|
<500 -
840
|
436.00
|
440.00
|
4.00
|
<500 -
2500
|
452.00
|
452.50
|
0.50
|
<500 -
610
|
455.00
|
455.50
|
0.50
|
<500 -
840
|
459.50
|
462.50
|
3.00
|
<500 -
3100
|
466.00
|
468.50
|
2.50
|
<500 -
1100
|
477.00
|
486.50
|
9.50
|
<500 -
1250
|
490.00
|
490.50
|
0.50
|
<500 -
1750
|
512.00
|
512.50
|
0.50
|
<500 -
760
|
515.00
|
517.50
|
2.50
|
<500 -
680
|
526.50
|
535.00
|
8.50
|
<500 -
32000
|
545.50
|
554.00
|
8.50
|
<500 -
5300
|
564.50
|
578.00
|
13.50
|
<500 -
54000
|
587.50
|
589.00
|
1.50
|
<500 -
5800
|
593.00
|
593.50
|
0.50
|
<500 -
2000
|
607.00
|
607.50
|
0.50
|
<500 -
630
|
623.00
|
623.50
|
0.50
|
<500 -
1250
|
630.50
|
631.00
|
0.50
|
<500 -
750
|
652.00
|
653.00
|
1.00
|
<500 -
3600
|
658.00
|
658.50
|
0.50
|
<500 -
600
|
697.00
|
697.50
|
0.50
|
<500 -
550
|
AR-16-91c1
|
327
|
-70
|
799.00
|
132.20
|
396.50
|
397.00
|
0.50
|
<500 -
5200
|
402.00
|
404.00
|
2.00
|
<500 -
2600
|
411.50
|
412.50
|
1.00
|
<500 -
800
|
416.50
|
417.00
|
0.50
|
<500 -
1000
|
419.50
|
420.50
|
1.00
|
<500 -
1200
|
425.50
|
428.00
|
2.50
|
<500 -
8900
|
430.50
|
439.50
|
9.00
|
<500 -
13000
|
443.00
|
452.00
|
9.00
|
<500 -
1500
|
458.00
|
461.00
|
3.00
|
<500 -
1300
|
465.50
|
483.00
|
17.50
|
<500 -
3500
|
489.50
|
494.00
|
4.50
|
<500 -
1500
|
499.00
|
504.00
|
5.00
|
<500 -
1600
|
506.50
|
525.00
|
18.50
|
<500 -
>61000
|
528.50
|
539.50
|
11.00
|
<500 -
29500
|
542.00
|
551.50
|
9.50
|
<500 -
11000
|
556.00
|
559.50
|
3.50
|
<500 -
1200
|
562.50
|
564.00
|
1.50
|
<500 -
7200
|
652.50
|
655.00
|
2.50
|
<500 -
920
|
691.50
|
692.50
|
1.00
|
<500 -
4400
|
698.50
|
701.50
|
3.00
|
<500 -
2500
|
705.50
|
729.50
|
24.00
|
<500 -
5800
|
759.50
|
760.00
|
0.50
|
<500 -
1100
|
766.50
|
767.00
|
0.50
|
<500 -
1400
|
AR-16-91c3
|
327
|
-70
|
879.00
|
132.20
|
344.00
|
344.50
|
0.50
|
<500 -
710
|
398.00
|
398.50
|
0.50
|
<500 -
900
|
407.00
|
407.50
|
0.50
|
<500 -
550
|
413.50
|
414.00
|
0.50
|
<500 -
750
|
419.50
|
420.00
|
0.50
|
<500 -
1300
|
423.00
|
441.50
|
18.50
|
<500 -
7100
|
444.50
|
446.00
|
1.50
|
<500 -
15000
|
449.50
|
451.50
|
2.00
|
<500 -
1900
|
455.00
|
455.50
|
0.50
|
<500 -
950
|
460.50
|
462.00
|
1.50
|
<500 -
1650
|
464.50
|
466.50
|
2.00
|
<500 -
2350
|
472.50
|
479.50
|
7.00
|
<500 -
2600
|
484.00
|
504.00
|
20.00
|
<500 -
>61000
|
513.50
|
516.50
|
3.00
|
<500 -
1800
|
520.00
|
537.50
|
17.50
|
<500 -
>61000
|
575.00
|
584.50
|
9.50
|
<500 -
1500
|
618.00
|
619.00
|
1.00
|
<500 -
620
|
625.50
|
647.00
|
21.50
|
<500 -
43000
|
652.50
|
654.50
|
2.00
|
<500 -
1300
|
657.00
|
663.00
|
6.00
|
<500 -
54000
|
676.50
|
677.50
|
1.00
|
<500 -
1450
|
709.00
|
710.00
|
1.00
|
<500 -
2300
|
714.00
|
720.50
|
6.50
|
<500 -
27000
|
724.00
|
725.00
|
1.00
|
<500 -
580
|
AR-16-91c4
|
327
|
-70
|
855.00
|
132.20
|
400.50
|
402.50
|
2.00
|
<500 -
1000
|
406.00
|
408.50
|
2.50
|
<500 -
2150
|
412.00
|
412.50
|
0.50
|
<500 -
1650
|
419.50
|
421.00
|
1.50
|
<500 -
3800
|
425.50
|
434.50
|
9.00
|
<500 -
13000
|
437.50
|
439.00
|
1.50
|
<500 -
2100
|
441.50
|
443.50
|
2.00
|
<500 -
700
|
446.50
|
450.00
|
3.50
|
<500 -
1500
|
457.00
|
458.00
|
1.00
|
<500 -
900
|
465.50
|
479.00
|
13.50
|
<500 -
2800
|
499.50
|
516.00
|
16.50
|
<500 -
3900
|
518.50
|
541.00
|
22.50
|
<500 -
>61000
|
732.50
|
734.00
|
1.50
|
<500 -
2400
|
551.50
|
557.00
|
5.50
|
<500 -
>61000
|
573.50
|
575.50
|
2.00
|
<500 -
610
|
591.00
|
591.50
|
0.50
|
<500 -
610
|
604.00
|
609.00
|
5.00
|
<500 -
1600
|
623.50
|
627.00
|
3.50
|
<500 -
900
|
630.50
|
631.00
|
0.50
|
<500 -
900
|
636.00
|
678.50
|
42.50
|
<500 -
29000
|
685.50
|
691.50
|
6.00
|
<500 -
3300
|
696.00
|
725.00
|
29.00
|
<500 -
26000
|
AR-16-92c1
|
147
|
-67
|
930.00
|
111.00
|
535.50
|
541.50
|
6.00
|
<500 -
9900
|
544.50
|
546.50
|
2.00
|
<500 -
5300
|
549.50
|
550.50
|
1.00
|
<500 -
32000
|
558.00
|
558.50
|
0.50
|
<500 -
690
|
566.00
|
624.25
|
58.25
|
<500 -
54000
|
627.80
|
647.00
|
19.20
|
<500 -
>61000
|
650.00
|
654.00
|
4.00
|
<500 -
2900
|
679.00
|
682.50
|
3.50
|
<500 -
1000
|
707.50
|
708.50
|
1.00
|
<500 -
520
|
731.00
|
733.50
|
2.50
|
<500 -
1800
|
738.00
|
738.50
|
0.50
|
<500 -
770
|
745.00
|
745.50
|
0.50
|
<500 -
540
|
749.00
|
749.50
|
0.50
|
<500 -
510
|
762.50
|
763.00
|
0.50
|
<500 -
580
|
773.00
|
773.50
|
0.50
|
<500 -
510
|
781.00
|
781.50
|
0.50
|
<500 -
920
|
784.50
|
792.00
|
7.50
|
<500 -
3300
|
812.00
|
814.50
|
2.50
|
<500 -
5400
|
817.00
|
824.50
|
7.50
|
<500 -
17000
|
827.00
|
829.00
|
2.00
|
<500 -
1800
|
833.00
|
848.50
|
15.50
|
<500 -
3500
|
851.00
|
861.00
|
10.00
|
<500 -
12000
|
869.00
|
870.00
|
1.00
|
<500 -
20000
|
872.50
|
873.00
|
0.50
|
<500 -
2200
|
882.50
|
884.50
|
2.00
|
<500 -
17000
|
913.50
|
914.50
|
1.00
|
<500 -
850
|
922.50
|
923.00
|
0.50
|
<500 -
530
|
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-16-84c4
Hole AR-16-84c4 was a directional hole that departed pilot hole
AR-16-84c3 at a depth of 291 m. It was designed as a scissor hole
to verify the thickness of near vertically dipping mineralization
in the A2 shear. The hole tested the A2 shear 12 m down-dip and
northeast of AR-16-64c2 (11.15% U3O8 over 48.5 m in the A2 shear).
Directional drilling was initiated at 510 m and the A2 shear was
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 and A3 shears). The hole successfully intersected weakly to
strongly anomalous radioactivity in the A2 and A3 shears that was
associated with semi-massive to massive veins, chemical solution
fronts, blebs and flecks of pitchblende. A total composite
mineralization of 58.0 m of mineralization including 5.7 m of
off-scale radioactivity (>10,000 - >61,000 cps) was
intersected within a 201.0 m section (415.0 to 616.0 m). In the A2
shear, 42.0 m of composite mineralization including 5.7 m of
off-scale radioactivity was intersected. In the A3 shear, 16.0 m of
composite mineralization was intersected. The hole was terminated
at 651.
AR-16-85c3
Hole AR-16-85c3 was a directional hole that departed pilot hole
AR-16-85c2 at 279 m. It tested the A2 shear 36 m up-dip and
southwest of AR-16-86c1 (13.05 m of off-scale radioactivity in the
A2 shear; assays pending) and the A3 shear 50 m up-dip and
southwest of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear).
Directional drilling was initiated at 294 m. The A2 and A3 shears
were intersected at hole inclinations of -64° and -63°,
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, worm-rock style, chemical solution
fronts, blebs and flecks of pitchblende. A total composite
mineralization of 66.5 m including 2.6 m of off-scale radioactivity
(>10,000 to >61,000 cps) was intersected within a 371.0 m
section (419.5 to 790.5 m). In the A2 shear, 40.5 m of composite
mineralization was intersected. In the A3 shear, 19.0 m of
composite mineralization including 2.25 m of composite
mineralization was intersected. In the A4 shear, 6.0 m of composite
mineralization including 0.35 m of off-scale radioactivity was
intersected. The hole was terminated at 840 m.
AR-16-85c4
Hole AR-16-85c4 was a directional hole that departed pilot hole
AR-16-85c3 at 297 m. It tested the A2 shear 21 m up-dip and
southwest of AR-16-86c1 (13.05 m of off-scale radioactivity in the
A2 shear; assays pending) and the A3 shear 34 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 342 m. The A2 and A3 shears
were intersected at inclinations of -67° and -68°,
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, worm-rock style, chemical solution
fronts, blebs and flecks of pitchblende. A total composite
mineralization of 73.0 m including 0.6 m of off-scale radioactivity
(>10,000 to 32,000 cps) was intersected within a 334.5 m section
(426.5 to 761.0 m). In the A2 shear, 39.0 m of composite
mineralization was intersected. In the A3 shear, 21.0 m of
composite mineralization was intersected. In the A4 shear, 13.0 m
of composite mineralization including 0.6 m of off-scale
radioactivity was intersected. The hole was terminated at 822
m.
AR-16-86c2
Hole AR-16-86c2 was a directional hole that departed pilot hole
AR-16-86c1 at 223 m. It tested the A2 shear 46 m up-dip and
northeast of AR-16-86c1 (13.05 m of off-scale radioactivity in the
A2 shear; assays pending) and the A3 shear 75 m up-dip and
northeast of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear).
Directional drilling was initiated at 294 m. The A2 and A3 shears
were intersected at hole inclinations of -59° and -60°,
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, worm-rock style, chemical solution
fronts, blebs and flecks of pitchblende. A total composite
mineralization of 79.0 m including 1.2 m of off-scale radioactivity
(>10,000 to 54,000 cps) was intersected within a 295.5 m section
(402.0 to 697.5 m). In the A2 shear, 30.0 m of composite
mineralization was intersected. In the A3 shear, 43.5 m of
composite mineralization was intersected including 1.2 m of
off-scale radioactivity. In the A4 shear, 5.5 m of composite
mineralization was intersected. The hole was terminated at 750
m.
AR-16-91c1
Hole AR-16-91c1 was a directional hole collared from surface at
an angled orientation (-70°) to the northwest (327° Azimuth). It
was designed as a scissor hole to both verify the thickness of the
near vertically dipping mineralization in the A2 shear and to test
the A1 shear in the area of AR-16-84c1 (8.35 m of off-scale
radioactivity; assays pending). Directional drilling was initiated
at 216 m. The A1 and A2 shears were intersected at inclinations of
-63° and -69°, respectively.
The hole intersected heavily bleached and desilicified Athabasca
Group sandstones between 123.0 m and the unconformity at 132.2 m.
Basement lithologies consisted largely of semipelitic gneiss to
granofel and relatively narrow intervals of pelitic gneiss and
mylonite (the A1 through A3 shears). Anomalous radioactivity was
intersected in the A1 through A3 shears in association with
stringer, disseminated and fracture-controlled pitchblende
mineralization. A total composite mineralization of 131.0 m
including 3.8 m of off-scale radioactivity (>10,000 to
>61,000 cps) was intersected within a 370.5 m section (396.5 to
767.0 m). In the A1 shear, 30.5 m of composite mineralization was
intersected. In the A2 shear, 92.0 m of composite mineralization
including 3.85 m of off-scale radioactivity was intersected. In the
A3 shear, 7.5 m of composite mineralization was intersected. The
hole was terminated at 799 m.
AR-16-91c3
Hole AR-16-91c3 was a directional hole that departed pilot hole
AR-16-91c2 at a depth of 219 m. It was designed as a scissor hole
to both verify the thickness of the near vertically dipping
mineralization in the A2 shear and to test the A1 shear in the area
of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending).
Directional drilling was initiated at 391 m. The A1 and A2 shears
were both intersected at inclinations 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 A1
through A3 shears). The hole successfully intersected highly
anomalous radioactivity in the A1 through A3 shears that was
associated with semi-massive to massive veins, chemical solution
fronts, blebs and flecks of pitchblende. A total composite
mineralization of 125.5 m including 11.95 m of off-scale
radioactivity (>10,000 to >61,000 cps) was intersected within
a 381.0 m section (344.0 to 725.0 m). In the A1 shear, 49.5 m of
total composite mineralization including 5.0 m of off-scale
radioactivity was intersected. In the A2 shear, 74.5 m of total
composite mineralization including 6.95 m of off-scale
radioactivity was intersected. In the A3 shear, a total composite
mineralization of 1.5 m was intersected. The hole was terminated at
879 m.
AR-16-91c4
Hole AR-16-91c4 was a directional hole that departed pilot hole
AR-16-91c3 at a depth of 228 m. It was designed as a scissor hole
to both verify the thickness of the near vertically dipping
mineralization in the A2 shear and to test the A1 shear in the area
of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending).
Directional drilling was initiated at 240 m. The A1 and A2 shears
were intersected at hole inclinations of -69° and -68°,
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 highly
anomalous radioactivity in the A1 through A3 shears that was
associated with semi-massive to massive veins, chemical solution
fronts, blebs and flecks of pitchblende. A total composite
mineralization of 172.0 m including 13.75 m of off-scale
radioactivity (>10,000 to >61,000 cps) was intersected within
a 323.5 m section (400.5 to 724.0 m). In the A1 shear, 87.0 m of
total composite mineralization including 4.1 m of off-scale
radioactivity was intersected. In the A2 shear, 78.5 m of total
composite mineralization including 9.65 m of off-scale
radioactivity was intersected. In the A3 shear, a total composite
mineralization of 6.5 m was intersected. The hole was terminated at
855 m.
AR-16-92c1
Hole AR-16-92c1 was a directional hole collared from surface at
an angled orientation (-67°) to the southeast (147° Azimuth). It
tested the A2 shear 41 m down-dip of AR-16-76c3 (10.25% U3O8 over
74.0 m in the A2 shear) and the A3 shear 61 m up-dip and northeast
of AR-15-54c2 (2.66% U3O8 over 14.5 m in the A3 shear). Directional
drilling was initiated 210 m. The A2 and A3 shears were intersected
at inclinations of -64° and -63°, respectively.
The hole intersected bleached and desilicified Athabasca Group
sandstones between 91.0 m and the unconformity at 111.0 m. Basement
lithologies consisted largely of semipelitic gneiss to granofel and
relatively narrow intervals of pelitic gneiss and mylonite (the A1
through A4 shears). Strongly anomalous radioactivity was
intersected in the A2 through A4 shears in association with
semi-massive to massive veins, stringers, disseminated and
fracture-controlled pitchblende mineralization. A total composite
mineralization of 150.95 m including 10.3 m of off-scale
radioactivity (>10,000 to >61,000 cps) was intersected within
a 387.5 m section (535.5 to 923.0 m). In the A2 shear, 86.95 m of
composite mineralization including 9.5 m of off-scale
mineralization was intersected. In the A3 shear, 12.5 m of
composite mineralization was intersected. In the A4 shear, 50.0 m
of composite mineralization including 0.8 m of off-scale
mineralization was intersected. The hole was terminated at 930
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.