Arrow Zone's High Grade A2 and A3 Cores Extended 210m to the Southwest with Significant Step Outs returning Off-Scale Radioactivity

News provided by

NexGen Energy Ltd.

Aug 05, 2015, 06:30 ET

VANCOUVER, Aug. 5, 2015 /CNW/ -NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to announce radioactivity  results from our on-going summer 2015 drilling program on our 100% owned Rook I property, Athabasca Basin, Saskatchewan.

All five holes reported in this news release have returned substantial mineralization with significant step-outs at Arrow. As a result, the strike lengths of the high grade cores in the A2 and A3 shears have been tripled to at least 300 m and 295 m, respectively. The newly discovered mineralization southwest of Arrow remains open in all directions and at depth. 

Highlights:

Arrow – Southwest Extension

  • AR-15-48c3 (a 55 m step out to the south west from AR-15-44b) intersected 170.5 m of total composite mineralization including 13.2 m of off-scale radioactivity (>10,000 - >61,000 cps) within a 530.5 m section (483.5 to 1,014 m).
  • AR-15-51 (a 100 m step out to the south west from AR-15-44b) intersected 160.25 m of total composite mineralization including 8.0 m of off-scale radioactivity (>10,000 to 47,000 cps) within a 462.5 m section (513.5 to 976.0 m).
  • AR-15-52 (a 210 m step out to the south west from AR-15-44b) intersected 60.8 m of total composite mineralization including 4.0 m of off-scale radioactivity (>10,000 to 45,000 cps) within a 394.0 m section (527.5 to 921.5 m).
  • AR-15-48c2 (a 50 m step-out up-dip from AR-15-44b) intersected 114.4 m of total composite mineralization including 3.15 m of off-scale radioactivity (>10,000 to 46,000 cps) within a 488.0 m section (423.0 to 911.0 m).

Arrow – A2 and A3 Core Delineation

  • AR-15-53c1 intersected 58.5 m of total composite mineralization including 5.25 m of off-scale radioactivity (>10,000 to >61,000 cps) within a 377.5 m section (520.5 to 898.0 m).
  • The Arrow zone now covers an area of 645 m by 215 m with a vertical extent of mineralization commencing from 100 to 920 m, and it remains open in all directions and at depth (a 90 second 3D video of Arrow generated from Leapfrog is available for viewing on the Company website);
  • Five rigs continue to turn at Rook I as part of the 25,0000 m, $9 Million summer drill program which commenced June 8, 2015;

Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented "Our bold objective that contemplated 50, 100, and 200 m step outs to the southwest of the A2 and A3 high grade cores have resulted in wide zones of mineralization across both shears with all three of these step outs encountering off-scale radioactivity.  We are very pleased to be witnessing such strong continuity of mineralization, and consistent growth with these aggressive southwest step outs. 

Leigh Curyer, Chief Executive Officer commented, "The team is obviously excited as to the implications that this latest batch of results has on the size and future growth of the Arrow zone.  These holes have tripled the length of the A2 and A3 high grade cores. The drilling methodology of wide step outs continues to intersect significant mineralization. The footprint de

monstrates Arrow is a large continuous system of mineralization in both the A2 and A3 shears and is open in all directions. We have a significant amount of additional drilling to perform before we even begin to understand the full scale of Arrow."

Drill hole locations, and the A2 and A3 long sections are shown in Figures 1 to 3, and Table 1 has a summary of the mineralized intervals.

Table 1: 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-15-48c2

146

-73.5

951.00

110.20

423.00

425.50

2.50

<500 -  1000

437.00

456.50

19.50

<500 -  46000

461.50

471.50

10.00

<500 -  31000

476.00

477.50

1.50

<500 -  1000

481.50

487.00

5.50

<500 -  3300

495.00

495.50

0.50

<500 -  700

498.50

503.00

4.50

<500 -  1600

510.50

511.50

1.00

<500 -  1200

567.00

567.50

0.50

<500 -  550

576.50

577.50

1.00

<500 -  1100

581.00

581.50

0.50

<500 -  12500

587.00

587.40

0.40

<500 -  510

595.50

598.00

2.50

<500 -  4000

605.50

606.00

0.50

<500 -  1100

609.50

615.50

6.00

<500 -  7800

629.50

631.00

1.50

<500 -  520

643.50

648.00

4.50

<500 -  1500

652.50

653.00

0.50

<500 -  520

656.00

656.50

0.50

<500 -  1250

663.00

667.00

4.00

<500 -  1700

669.50

676.00

6.50

<500 -  2300

678.50

692.50

14.00

<500 -  4800

697.00

701.00

4.00

<500 -  1250

704.50

707.50

3.00

<500 -  1350

710.50

715.00

4.50

<500 -  950

721.50

722.50

1.00

<500 -  3150

733.50

734.50

1.00

<500 -  1450

743.00

747.50

4.50

<500 -  1500

757.00

757.50

0.50

<500 -  530

764.50

766.00

1.50

<500 -  850

769.00

770.50

1.50

<500 -  2500

779.50

780.00

0.50

<500 -  1450

787.00

787.50

0.50

<500 -  850

807.00

808.00

1.00

<500 -  850

811.50

812.00

0.50

<500 -  550

843.00

843.50

0.50

<500 -  2800

893.00

894.00

1.00

<500 -  12500

910.00

911.00

1.00

<500 -  1250

AR-15-48c3

146

-73.5

1047.00

110.20

483.50

506.50

23.00

<500 -  36000

510.50

517.00

6.50

<500 -  41000

520.00

535.00

15.00

<500 -  5100

541.50

542.00

0.50

<500 -  850

546.00

549.50

3.50

<500 -  51000

552.50

562.00

9.50

<500 -  >61000

565.00

584.50

19.50

<500 -  48000

587.00

599.50

12.50

<500 -  25000

607.50

612.00

4.50

<500 -  50000

615.00

624.00

9.00

<500 -  >61000

632.00

641.00

9.00

<500 -  2500

667.50

673.50

6.00

<500 -  1500

677.00

679.00

2.00

<500 -  1100

689.50

690.00

0.50

<500 -  700

693.50

699.00

5.50

<500 -  1200

703.00

703.50

0.50

<500 -  1400

742.50

743.00

0.50

<500 -  700

753.50

754.00

0.50

<500 -  650

774.00

777.00

3.00

<500 -  800

780.00

787.00

7.00

<500 -  620

791.50

792.00

0.50

<500 -  570

797.50

798.00

0.50

<500 -  850

807.00

807.50

0.50

500 -  11000

810.50

811.00

0.50

<500 -  600

847.50

848.50

1.00

<500 -  1100

852.00

852.50

0.50

<500 -  610

856.00

856.50

0.50

<500 -  520

860.00

861.00

1.00

<500 -  13000

908.00

909.50

1.50

<500 -  1100

913.00

913.50

0.50

<500 -  850

917.00

922.00

5.00

<500 -  1100

925.50

926.00

0.50

<500 -  520

949.00

956.00

7.00

<500 -  1800

962.00

962.50

0.50

<500 -  600

965.00

965.50

0.50

<500 -  600

976.00

977.50

1.50

<500 -  2000

981.50

991.50

10.00

<500 -  29500

1013.50

1014.00

0.50

<500 -  550

AR-15-51

140

-75

1014.00

104.10

513.50

514.00

0.50

<500 -  3000

524.00

525.50

1.50

<500 -  1300

531.50

534.00

2.50

<500 -  2200

539.00

539.50

0.50

<500 -  600

545.00

549.00

4.00

<500 -  8000

558.00

564.00

6.00

<500 -  8500

568.00

569.00

1.00

<500 -  12000

577.00

583.00

6.00

<500 -  14000

585.50

620.50

35.00

<500 -  13000

624.75

633.50

8.75

<500 -  22000

636.00

638.50

2.50

<500 -  7700

645.00

646.50

1.50

<500 -  7300

649.50

650.00

0.50

<500 -  7500

654.00

661.50

7.50

<500 -  25000

670.00

695.00

25.00

<500 -  47000

698.00

711.50

13.50

<500 -  22000

722.00

724.00

2.00

<500 -  14000

727.00

727.50

0.50

<500 -  1100

733.00

734.00

1.00

<500 -  9500

736.50

744.00

7.50

<500 -  45000

746.50

755.50

9.00

<500 -  4000

759.50

760.50

1.00

<500 -  1300

764.50

766.50

2.00

<500 -  25000

769.00

769.50

0.50

<500 -  710

796.50

797.00

0.50

<500 -  650

810.50

816.50

6.00

<500 -  1800

819.00

820.00

1.00

<500 -  7000

839.50

842.50

3.00

<500 -  1800

857.00

857.50

0.50

<500 -  11000

869.00

871.00

2.00

<500 -  1700

885.50

886.00

0.50

<500 -  550

888.50

889.00

0.50

<500 -  510

893.50

895.00

1.50

<500 -  4400

898.50

899.00

0.50

<500 -  3000

904.50

905.00

0.50

<500 -  1750

908.00

910.50

2.50

<500 -  3500

917.00

917.50

0.50

<500 -  1500

975.00

976.00

1.00

<500 -  1540

AR-15-52

140

-75

987.25

101.80

527.50

528.50

1.00

<500 -  1550

538.50

539.50

1.00

<500 -  2800

555.50

561.00

5.50

<500 -  9500

564.00

564.50

0.50

<500 -  1700

567.50

573.50

6.00

<500 -  23000

578.00

578.50

0.50

<500 -  2200

589.50

590.00

0.50

<500 -  2500

593.50

595.00

1.50

<500 -  43000

614.50

616.00

1.50

<500 -  900

628.50

629.00

0.50

500 -  1150

633.00

633.50

0.50

5000 -  7000

664.00

664.50

0.50

<500 -  2200

675.00

676.80

1.80

<500 -  11000

709.50

710.00

0.50

<500 -  1400

713.50

726.50

13.00

<500 -  4500

730.50

731.50

1.00

<500 -  650

738.50

743.50

5.00

<500 -  2600

751.00

769.50

18.50

<500 -  45000

832.50

833.00

0.50

<500 -  2000

848.00

848.50

0.50

<500 -  870

921.00

921.50

0.50

<500 - 720

AR-15-53c1

141

-77

938.00

114.00

520.50

521.50

1.00

<500 -  1250

533.00

538.00

5.00

<500 -  40000

541.00

545.50

4.50

<500 -  15000

549.00

553.50

4.50

<500 -  11000

559.00

566.00

7.00

<500 -  6000

568.50

575.50

7.00

<500 -  >61000

580.50

581.00

0.50

<500 -  4600

586.50

595.50

9.00

<500 -  32000

622.00

625.00

3.00

<500 -  3800

630.50

631.00

0.50

<500 -  500

639.50

640.00

0.50

<500 -  520

646.50

647.00

0.50

<500 -  600

649.50

650.00

0.50

<500 -  500

662.00

662.50

0.50

<500 -  900

683.00

691.00

8.00

<500 -  1500

695.50

697.00

1.50

<500 -  1500

700.00

700.50

0.50

<500 -  600

703.00

703.50

0.50

<500 -  1500

719.50

721.00

1.50

<500 -  600

732.00

732.50

0.50

<500 -  525

768.00

768.50

0.50

<500 -  550

850.00

850.50

0.50

<500 -  700

855.00

855.50

0.50

<500 -  700

897.50

898.00

0.50

<500 -  600

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. Core interval measurements and 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 the partial and total digestions, ICP-OES for major and minor elements on the 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.

ARROW ZONE DRILLING

AR-15-48c2

Hole AR-15-48c2 was a directional drill hole that was reamed off pilot hole AR-15-48c1 at 198 m. It tested the A2 shear 42 m down-plunge from AR-15-48c1 (5.8 m of off-scale radioactivity; assays pending) and the A3 shear 110 m down-plunge from AR-15-41 (4.30% U3O8 over 20.5 m). Directional core drilling was initiated at 210 m and the A2 and A3 shears were intersected at inclinations of -67° and -76° respectively.

Since  this  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 widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 114.4 m including 3.15 m of off-scale radioactivity (>10,000 to 46,000 cps) was intersected within a 488.0 m section (423.0 to 911.0 m) before the hole was terminated at 951.0 m.

In the A2 shear, 45.0 m of total composite mineralization including 2.95 m of off-scale radioactivity at a 50 m step-out up-dip from AR-15-44b. In the A3 shear, 69.4 m of total composite mineralization including 0.2 m of off-scale radioactivity at a 110 m step-out down-plunge from AR-15-41.

AR-15-48c3

Hole AR-15-48c3 was a directional drill hole that was reamed off pilot hole AR-15-48c2 at 245 m. It tested the A2 shear 55 m southwest of AR-15-44b (11.55% U3O8 over 56.5 m) and the A3 shear 150 m down-plunge of AR-15-48c1 (7.8 m of off-scale radioactivity; assays pending). Directional core drilling was initiated at 283 m. Both the A2 and A3 shears were intersected at an inclination of -72°.  

Since  this  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 widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 170.5m including 13.20 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 530.5 m section (483.5 to 1,014 m) before the hole was terminated at 1,047 m. This hole represents a 55 m southwest step-out from AR-15-44b on the A2 shear.

Hole AR-15-48c3 intersected 103.5 m of total composite mineralization including 12.45 m of off-scale radioactivity (>10,000 – >61,000 cps) in the A2 shear, and 30.5 m of total composite mineralization in the A3 shear.

AR-15-51

Hole AR-15-51 was drilled at an angled orientation (-75° dip) to the southeast (140° azimuth). It was designed to test the A2 shear as a 100 m southwest step-out from AR-15-44b (11.55% U3O8 over 56.5 m) and the A3 shear as 200 m down-plunge step-out from AR-15-48c1 (7.8 m of off-scale radioactivity; assays pending).

The hole intersected moderately to strongly bleached and desilicified Athabasca Group sandstones between 93.0 m and the unconformity at 104.1 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 160.25 m including 8.0 m of off-scale radioactivity (>10,000 to 47,000 cps) was intersected within a 462.5 m section (513.5 to 976.0 m) before the hole was terminated at 1,014 m.  The hole successfully extended the strike of the high grade cores of the A2 and A3 shears by 100 m.

In the A2 shear, 65.75 m of total composite mineralization including 1.55 m of off-scale radioactivity at a 100 m step-out to the southwest from AR-15-44b. In the A3 shear, 80.5 m of total composite mineralization including 6.45 m of off-scale radioactivity at a 200 m down-plunge step-out to the southwest from AR-15-48c1. 

AR-15-52

Hole AR-15-52 was drilled at an angled orientation (-75° dip) to the southeast (140° azimuth). It was designed to test the A2 shear as a 210 m southwest step-out from AR-15-44b (11.55% U3O8 over 56.5 m) and the A3 shear as a 300 m down-plunge step-out from AR-15-48c1 (7.8 m of off-scale radioactivity; assays pending).

The hole intersected moderately to strongly bleached Athabasca Group sandstones between 89.0 m and the unconformity at 101.8 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 60.8 m including 4.0 m of off-scale radioactivity (>10,000 to 45,000 cps) was intersected within a 394.0 m section (527.5 to 921.5 m) before the hole was terminated at 987.25 m. The hole successfully extended the strike of the high grade cores of the A2 and A3 shears by 210 m and 214 m respectively.

In the A2 shear, 21.3 m of total composite mineralization including 1.05 m of off-scale radioactivity at a 210 m step-out to the southwest from AR-15-44b. In the A3 shear,  38.5 m of total composite mineralization including 2.95 m of off-scale radioactivity at a 300 m down-plunge step-out to the southwest from AR-15-48c1.

AR-15-53c1

Hole AR-15-53c1 was a directional hole collared from surface at an angled orientation (-76.5° dip) to the southeast (141° azimuth). It was designed to test the A2 shear 40 m southwest of AR-15-30 (7.54% U3O8 over 63.5 m) and the A3 shear 45 m up-plunge from AR-15-39 (2.27% U3O8 over 29.5 m). Directional core drilling was initiated at 336 m. The A2 and A3 shears were intersected at inclinations of -70° and -77° respectively.

The hole intersected intensely desilicified Athabasca Group sandstones between 104.0 m and the unconformity at 114.0 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 58.5 m including 5.25 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 377.5 m section (520.5 to 898.0 m) before the hole was terminated at 938.0 m.

In the A2 shear,  38.5 m of total composite mineralization including 5.25 m of off-scale radioactivity 40 m southwest of AR-15-30. In the A3 shear, 6.5m of total composite mineralization in the A3 shear 45 m up-plunge from AR-15-39.

About NexGen Energy Ltd.

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 world class 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 and Bow Discovery in March 2015

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of NexGen Energy Ltd., by Garrett Ainsworth, P.Geo., Vice President – Exploration & Development, a qualified person.

Leigh Curyer,
Chief Executive Officer
NexGen Energy Ltd.
+1 604 428 4112
[email protected]
www.nexgenenergy.ca

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 laws. Generally, but not always, forward looking information is identifiable by the use of words such as "will" and planned" and similar expressions. Forward-looking information is based on the then current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates.  Such information is not a guarantee of future performance and undue reliance should not be placed on forward-looking information. Assumptions and factors underlying the Company's expectations regarding forward-looking information contained herein include, among others: that general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed on reasonable terms; that the Company's current exploration activities can be achieved and that its other corporate activities will proceed as expected; 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 are considered reasonable by management at the time the forward-looking information is given, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information also involves 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, including, among others: risks related to the availability of financing on commercially reasonable terms and the expected use of the proceeds; changes in the market; potential downturns in economic conditions; industry conditions; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results of exploration; future prices of metal; 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 or financing. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. NexGen 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. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE NexGen Energy Ltd.

Image with caption: "Figure 1: Arrow Zone Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150805_C5913_PHOTO_EN_471953.jpg

Image with caption: "Figure 2: A2 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150805_C5913_PHOTO_EN_471955.jpg

Image with caption: "Figure 3: A3 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150805_C5913_PHOTO_EN_471957.jpg

For further information: Kin Communications, Tel: 604 684 6730, Toll free 1 866 684 6730, Email: [email protected], Website: http://www.nexgenenergy.ca

Organization Profile

NexGen Energy Ltd.