VANCOUVER, July 19, 2016 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSX:NXE) is pleased to
report assay results for 8 holes from our recently completed winter
2016 drilling program on our 100% owned, Rook I property,
Athabasca Basin, Saskatchewan.
Highlights:
A2 Sub-Zone
Extensive and continuous high grade uranium mineralization in
the higher grade A2 sub-zone (the "Sub-Zone) is confirmed with
2 assay results reported herein.
- AR-16-81c3 (127 m up-dip and southwest from AR-15-44b)
intersected 23.0 m at 17.19% U3O8 including 9.5 m at
39.82% U3O8 and 5.0 m at 49.27% U3O8.
- AR-16-86c1 (84 m up-dip and southwest from AR-15-44b)
intersected 44.5 m at 8.85% U3O8 including 19.0 m at
20.40% U3O8 and 5.0 m at 39.52% U3O8.
A2 Shear High Grade Domain
- AR-16-80c4 (110 m up-dip and southwest from AR-15-44b)
intersected 25.0 m at 6.38% U3O8 including 10.0 m at
14.66% U3O8.
- AR-16-84c2 (33 m up-dip and northeast from AR-15-44b)
intersected 39.0 m at 2.10% U3O8 including 18.5 m at
4.27% U3O8.
- AR-16-84c3 (34 m up-dip and northeast from AR-15-44b)
intersected 31.0 m at 3.26% U3O8 including 18.0 m at
5.58% U3O8 and 6.5 m at 10.89% U3O8.
- AR-16-85c1 (90 m up-dip and southwest from AR-15-44b)
intersected 24.0 m at 4.40% U3O8 including 3.5 m at
29.15% U3O8.
Substantial mineralization was intersected completely outside
the current boundary of the A2 high grade domain in six holes
(Figure 1). There is significant potential for continued expansion
and this will be a focus of the 35,000 m summer drilling
program.
High Grade Gold
High grade assays intersected in the A2 shear also contain
high grade gold and silver values, with individual 0.5 m samples
ranging from below detection limits up to 90.4 g/t Au and 418 g/t
Ag (Table 1). Hole AR-16-81c3 returned 9.5 m at 7.9 g/t Au and
AR-16-86c1 returned 20.4 m at 1.9 g/t Au. Also of significant
importance, geochemical analyses continue to show very low
concentrations of deleterious elements (arsenic, antimony,
selenium), which is a favourable characteristic for processing of
uranium ores in the Athabasca
Basin.
A three-dimensional view of the A2 High Grade Domain, a plan
map, and the A2 long section are shown in Figures 1 to 3.
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 imminently.
- The Company has cash on hand of approximately $100 million.
Garrett Ainsworth,
Vice-President, Exploration and Development, commented "Our winter
drilling program has exceeded all of our expectations. As shown in
Figure 1, drill holes -81c3 and -86c1 are on the very edges of the
A2 high grade domain where substantial intervals of high grade
uranium are completely outside the high grade domain. We look
forward to delivering continued success throughout the summer
program and beyond."
Leigh Curyer, Chief Executive Officer commented: "Assay results
today continue to show the robustness of the A2 Sub-Zone which
continuously returns high uranium grades on a world scale. These
results are also inclusive of significant gold values and very low
deleterious elements which is a favourable characteristic for
processing of uranium ores in the Athabasca Basin."
Table 1: Selected A2 Shear Assay Results
Drill
Hole
|
SRC Geoanalytical
Results
|
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
U3O8
(wt%)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(wt%)
|
Mo
(wt%)
|
As
(wt%)
|
Sb
(wt%)
|
Se
(wt%)
|
AR-16-80c4
incl.
|
529.0
|
554.0
|
25.0
|
6.38
|
1.1
|
37.8
|
0.07
|
0.18
|
<0.01
|
<0.01
|
<0.01
|
536.0
|
546.0
|
10.0
|
14.66
|
2.4
|
73.7
|
0.04
|
0.28
|
0.01
|
<0.01
|
0.01
|
AR-16-81c3
incl.
incl.
incl.
|
546.0
|
569.0
|
23.0
|
17.19
|
3.4
|
77.5
|
0.25
|
0.20
|
0.02
|
<0.01
|
0.01
|
553.5
|
563.0
|
9.5
|
39.82
|
7.9
|
163.9
|
0.57
|
0.23
|
0.03
|
<0.01
|
0.02
|
555.0
|
560.0
|
5.0
|
49.27
|
10.7
|
210.3
|
0.85
|
0.24
|
0.04
|
<0.01
|
0.02
|
559.5
|
560.0
|
0.5
|
43.20
|
90.4
|
209.0
|
0.61
|
0.19
|
0.01
|
<0.01
|
0.02
|
AR-16-84c2
incl.
|
535.5
|
574.5
|
39.0
|
2.10
|
0.3
|
11.2
|
0.05
|
0.04
|
<0.01
|
<0.01
|
<0.01
|
554.0
|
572.5
|
18.5
|
4.27
|
0.5
|
18.9
|
0.05
|
0.04
|
0.01
|
<0.01
|
<0.01
|
AR-16-84c3
incl.
incl.
|
540.0
|
571.0
|
31.0
|
3.26
|
0.2
|
18.1
|
0.08
|
0.05
|
0.01
|
<0.01
|
<0.01
|
548.5
|
566.5
|
18.0
|
5.58
|
0.3
|
28.6
|
0.12
|
0.05
|
0.02
|
<0.01
|
0.01
|
560.0
|
566.5
|
6.5
|
10.89
|
0.6
|
54.4
|
0.25
|
0.12
|
0.03
|
<0.01
|
0.01
|
AR-16-85c1
incl.
incl.
|
460.0
|
484.0
|
24.0
|
4.40
|
0.2
|
37.5
|
0.01
|
0.01
|
0.05
|
<0.01
|
<0.01
|
465.5
|
469.0
|
3.5
|
29.15
|
0.9
|
252.0
|
0.05
|
0.04
|
0.29
|
<0.01
|
<0.01
|
467.0
|
467.5
|
0.5
|
49.00
|
0.8
|
418.0
|
0.04
|
0.03
|
0.25
|
<0.01
|
<0.01
|
AR-16-86c1
incl.
incl.
|
402.0
|
446.5
|
44.5
|
8.85
|
0.9
|
49.0
|
0.05
|
0.13
|
0.05
|
<0.01
|
0.01
|
423.5
|
442.5
|
19.0
|
20.40
|
1.9
|
113.1
|
0.11
|
0.28
|
0.10
|
<0.01
|
0.03
|
428.5
|
433.5
|
5.0
|
39.52
|
1.0
|
199.2
|
0.05
|
0.22
|
0.24
|
<0.01
|
0.03
|
Composite parameters:
- Minimum thickness 0.5 m downhole
- Cutoff grade 0.01% U3O8
- Maximum internal dilution 2.00 m downhole
- U3O8, Ag, Cu, Mo analyzed by ICP-OES, Au analyzed by fire
assay, As, Sb, Se analyzed by ICP-MS at SRC Geoanalytical
Laboratories, Saskatoon,
Saskatchewan.
- All depths and intervals are meters downhole, true thicknesses
are yet to be determined
Table 2: Arrow Deposit
Assay Results
|
|
|
|
Drill
Hole
|
Athabasca Group -
Basement
Unconformity Depth
(m)
|
SRC Geoanalytical
Results
|
Hole
ID
|
Azimuth
|
Dip
|
Total
Depth
(m)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
U3O8
(wt%)
|
AR-16-80c3
|
147
|
-70
|
585.00
|
120.20
|
450.50
|
452.00
|
1.50
|
0.05
|
|
|
|
|
|
469.00
|
471.00
|
2.00
|
0.85
|
|
|
|
|
|
474.00
|
509.00
|
35.00
|
0.70
|
|
|
|
|
|
515.00
|
520.00
|
5.00
|
0.04
|
|
|
|
|
|
537.50
|
554.00
|
16.50
|
0.16
|
|
|
|
|
|
556.50
|
560.00
|
3.50
|
0.08
|
|
|
|
|
|
568.00
|
578.00
|
10.00
|
0.06
|
AR-16-80c4
|
147
|
-70
|
618.00
|
120.20
|
487.50
|
493.00
|
5.50
|
0.10
|
|
|
|
|
|
496.00
|
508.50
|
12.50
|
0.40
|
|
|
|
|
|
511.00
|
526.00
|
15.00
|
0.89
|
|
|
|
|
|
529.00
|
554.00
|
25.00
|
6.38
|
|
|
|
|
incl.
|
536.00
|
546.00
|
10.00
|
14.66
|
|
|
|
|
|
571.00
|
588.00
|
17.00
|
0.08
|
|
|
|
|
|
602.50
|
605.00
|
2.50
|
0.04
|
AR-16-81c3
|
145
|
-69
|
932.00
|
111.00
|
513.50
|
518.50
|
5.00
|
0.19
|
|
|
|
|
|
521.00
|
531.50
|
10.50
|
0.22
|
|
|
|
|
|
535.50
|
539.50
|
4.00
|
0.05
|
|
|
|
|
|
546.00
|
569.00
|
23.00
|
17.19
|
|
|
|
|
incl.
|
553.50
|
563.00
|
9.50
|
39.82
|
|
|
|
|
incl.
|
555.00
|
560.00
|
5.00
|
49.27
|
|
|
|
|
|
594.50
|
595.50
|
1.00
|
0.05
|
|
|
|
|
|
604.50
|
611.00
|
6.50
|
0.13
|
|
|
|
|
|
614.00
|
615.50
|
1.50
|
0.02
|
|
|
|
|
|
620.00
|
622.00
|
2.00
|
0.10
|
|
|
|
|
|
628.00
|
629.00
|
1.00
|
0.03
|
|
|
|
|
|
634.00
|
636.00
|
2.00
|
0.10
|
|
|
|
|
|
645.00
|
650.50
|
5.50
|
0.14
|
|
|
|
|
|
661.50
|
679.00
|
17.50
|
0.13
|
|
|
|
|
|
698.00
|
698.50
|
0.50
|
0.03
|
|
|
|
|
|
704.00
|
713.00
|
9.00
|
0.27
|
|
|
|
|
|
717.00
|
718.00
|
1.00
|
0.10
|
|
|
|
|
|
725.00
|
730.00
|
5.00
|
0.02
|
|
|
|
|
|
764.50
|
771.00
|
6.50
|
0.05
|
|
|
|
|
|
782.00
|
783.00
|
1.00
|
0.02
|
|
|
|
|
|
804.50
|
805.50
|
1.00
|
0.04
|
|
|
|
|
|
817.50
|
830.00
|
12.50
|
0.06
|
|
|
|
|
|
833.50
|
834.50
|
1.00
|
0.07
|
|
|
|
|
|
839.50
|
849.00
|
9.50
|
0.05
|
|
|
|
|
|
894.00
|
899.00
|
5.00
|
0.76
|
|
|
|
|
|
904.50
|
906.00
|
1.50
|
0.04
|
AR-16-84c2
|
315
|
-71
|
864.00
|
127.00
|
409.00
|
413.00
|
4.00
|
0.11
|
|
|
|
|
|
417.00
|
425.50
|
8.50
|
0.05
|
|
|
|
|
|
440.50
|
445.00
|
4.50
|
0.01
|
|
|
|
|
|
448.50
|
452.00
|
3.50
|
0.02
|
|
|
|
|
|
458.50
|
459.50
|
1.00
|
0.04
|
|
|
|
|
|
469.50
|
484.50
|
15.00
|
0.04
|
|
|
|
|
|
487.00
|
493.00
|
6.00
|
0.06
|
|
|
|
|
|
499.50
|
500.00
|
0.50
|
0.04
|
|
|
|
|
|
514.00
|
523.00
|
9.00
|
0.11
|
|
|
|
|
|
535.50
|
574.50
|
39.00
|
2.10
|
|
|
|
|
incl.
|
554.00
|
572.50
|
18.50
|
4.27
|
|
|
|
|
|
580.00
|
581.50
|
1.50
|
0.58
|
|
|
|
|
|
584.50
|
590.00
|
5.50
|
1.12
|
|
|
|
|
|
595.00
|
597.50
|
2.50
|
0.04
|
|
|
|
|
|
612.00
|
617.50
|
5.50
|
0.03
|
|
|
|
|
|
624.00
|
625.50
|
1.50
|
0.05
|
|
|
|
|
|
672.00
|
686.00
|
14.00
|
0.07
|
|
|
|
|
|
689.00
|
690.00
|
1.00
|
0.01
|
|
|
|
|
|
694.50
|
711.50
|
17.00
|
0.04
|
AR-16-84c3
|
315
|
-71
|
813.00
|
127.00
|
419.50
|
423.50
|
4.00
|
0.04
|
|
|
|
|
|
427.00
|
427.50
|
0.50
|
0.03
|
|
|
|
|
|
433.00
|
445.00
|
12.00
|
0.04
|
|
|
|
|
|
452.00
|
453.50
|
1.50
|
0.18
|
|
|
|
|
|
457.50
|
460.50
|
3.00
|
0.04
|
|
|
|
|
|
465.50
|
466.50
|
1.00
|
0.02
|
|
|
|
|
|
472.50
|
485.00
|
12.50
|
0.03
|
|
|
|
|
|
490.00
|
496.50
|
6.50
|
0.03
|
|
|
|
|
|
501.00
|
513.00
|
12.00
|
0.02
|
|
|
|
|
|
540.00
|
571.00
|
31.00
|
3.26
|
|
|
|
|
incl.
|
548.50
|
566.50
|
18.00
|
5.58
|
|
|
|
|
incl.
|
560.00
|
566.50
|
6.50
|
10.89
|
|
|
|
|
|
576.00
|
581.00
|
5.00
|
1.76
|
|
|
|
|
|
585.00
|
586.00
|
1.00
|
0.06
|
|
|
|
|
|
588.50
|
593.50
|
5.00
|
0.15
|
|
|
|
|
|
677.50
|
680.00
|
2.50
|
0.26
|
|
|
|
|
|
692.00
|
698.50
|
6.50
|
0.11
|
|
|
|
|
|
704.00
|
717.00
|
13.00
|
1.39
|
|
|
|
|
|
719.50
|
733.50
|
14.00
|
0.35
|
|
|
|
|
|
739.50
|
744.00
|
4.50
|
0.03
|
|
|
|
|
|
763.50
|
772.50
|
9.00
|
0.03
|
AR-16-85c1
|
143
|
-70
|
978.00
|
114.40
|
404.50
|
405.00
|
0.50
|
0.10
|
|
|
|
|
|
410.00
|
410.50
|
0.50
|
0.08
|
|
|
|
|
|
416.50
|
418.00
|
1.50
|
0.09
|
|
|
|
|
|
430.50
|
444.50
|
14.00
|
0.03
|
|
|
|
|
|
460.00
|
484.00
|
24.00
|
4.40
|
|
|
|
|
incl.
|
465.50
|
469.00
|
3.50
|
29.15
|
|
|
|
|
|
590.00
|
599.00
|
9.00
|
0.03
|
|
|
|
|
|
636.00
|
643.50
|
7.50
|
0.04
|
|
|
|
|
|
646.00
|
653.50
|
7.50
|
0.03
|
|
|
|
|
|
660.00
|
660.50
|
0.50
|
0.06
|
|
|
|
|
|
663.00
|
674.50
|
11.50
|
0.53
|
|
|
|
|
|
677.00
|
682.00
|
5.00
|
0.02
|
|
|
|
|
|
702.50
|
709.00
|
6.50
|
0.01
|
|
|
|
|
|
731.50
|
735.00
|
3.50
|
0.05
|
|
|
|
|
|
816.00
|
817.00
|
1.00
|
0.20
|
|
|
|
|
|
825.00
|
832.00
|
7.00
|
0.13
|
|
|
|
|
|
835.50
|
838.50
|
3.00
|
0.40
|
|
|
|
|
|
851.00
|
852.50
|
1.50
|
0.05
|
|
|
|
|
|
864.50
|
875.50
|
11.00
|
0.06
|
|
|
|
|
|
878.50
|
879.00
|
0.50
|
0.16
|
|
|
|
|
|
893.00
|
895.50
|
2.50
|
0.12
|
|
|
|
|
|
921.00
|
922.00
|
1.00
|
0.05
|
|
|
|
|
|
940.00
|
942.00
|
2.00
|
0.10
|
|
|
|
|
|
954.50
|
955.00
|
0.50
|
0.15
|
AR-16-85c2
|
143
|
-70
|
606.00
|
114.40
|
428.00
|
472.00
|
44.00
|
0.37
|
|
|
|
|
|
475.00
|
495.50
|
20.50
|
0.05
|
|
|
|
|
|
529.00
|
532.00
|
3.00
|
0.01
|
|
|
|
|
|
579.50
|
581.50
|
2.00
|
0.02
|
|
|
|
|
|
599.50
|
601.00
|
1.50
|
0.02
|
AR-16-86c1
|
142
|
-71
|
897.00
|
110.50
|
402.00
|
446.50
|
44.50
|
8.85
|
|
|
|
|
incl.
|
423.50
|
442.50
|
19.00
|
20.40
|
|
|
|
|
incl.
|
428.50
|
433.50
|
5.00
|
39.52
|
|
|
|
|
|
449.00
|
488.00
|
39.00
|
0.10
|
|
|
|
|
|
494.00
|
503.50
|
9.50
|
0.11
|
|
|
|
|
|
513.50
|
520.00
|
6.50
|
0.03
|
|
|
|
|
|
560.00
|
566.00
|
6.00
|
0.04
|
|
|
|
|
|
571.00
|
625.00
|
54.00
|
0.10
|
|
|
|
|
|
630.00
|
632.50
|
2.50
|
0.01
|
|
|
|
|
|
637.00
|
665.00
|
28.00
|
0.26
|
|
|
|
|
|
670.00
|
671.00
|
1.00
|
0.05
|
|
|
|
|
|
680.50
|
692.50
|
12.00
|
0.15
|
|
|
|
|
|
696.50
|
719.00
|
22.50
|
0.32
|
|
|
|
|
|
722.50
|
726.50
|
4.00
|
0.93
|
|
|
|
|
|
729.00
|
730.00
|
1.00
|
0.07
|
|
|
|
|
|
744.00
|
756.00
|
12.00
|
0.33
|
|
|
|
|
|
758.50
|
760.00
|
1.50
|
0.07
|
|
|
|
|
|
767.50
|
769.00
|
1.50
|
0.30
|
|
|
|
|
|
817.00
|
824.50
|
7.50
|
0.51
|
|
|
|
|
|
829.50
|
845.50
|
16.00
|
0.74
|
Composite parameters:
- Minimum thickness 0.5 m downhole
- Cutoff grade 0.01% U3O8
- Maximum internal dilution 2.00 m downhole
- U3O8 analyzed by ICP-OES at SRC Laboratories, Saskatoon, Saskatchewan
- All depths and intervals are meters downhole, true thicknesses
are yet to be determined
Split core samples were taken systematically, and intervals were
submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025:
2005 Accredited Facility) of Saskatoon for analysis. All samples were
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 were analyzed for U3O8 by ICP-OES and selected samples for
gold by fire assay.
All assay batches reported herein are subjected to and have
passed rigorous internal QA/QC protocols that include, but are not
limited to, the blind insertion of standard reference
materials, blank materials and field duplicates into the sample
stream at both random and systematic intervals.
About NexGen
NexGen is a British Columbia
corporation with a focus on the acquisition, exploration and
development of Canadian uranium projects. NexGen has an 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 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 and the Bow discovery,
3.7 km along trend and northeast of Arrow, in March 2015 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
.
Technical Information
All scientific and technical information in this news release
has been prepared by or reviewed and approved by Mr. Garrett Ainsworth, P.Geo., Vice President –
Exploration & Development for NexGen. Mr. Ainsworth is a
qualified person for the purposes of National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI
43-101"), and has verified the sampling, analytical, and test
data underlying the information or opinions contained herein by
reviewing original data certificates and monitoring all of the data
collection protocols.
For details of the Rook I Project including the quality
assurance program and quality control measures applied and key
assumptions, parameters and methods used to estimate the mineral
resource set forth above please refer to the technical report
entitled "Technical Report on the Rook 1 Property, Saskatchewan, Canada" dated effective
April 13, 2016 (the "Rook 1
Technical Report") prepared by Mark B.
Mathisen and David Ross, each
of whom is a "qualified person" under NI 43-101. The Rook I
Technical Report is available for review under the Company's
profile on SEDAR at www.sedar.com.
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, planned
exploration activities and preparation and release of an updated
mineral resource estimate. 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, 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.