VANCOUVER, March 19, 2015 /CNW/ - NexGen Energy Ltd. (NXE:TSXV) ("NexGen" or the "Company") is pleased to report assay results for the second batch of drill holes (angled holes AR-15-37 and -38) from the ongoing winter 2015 program at the Arrow zone on our 100% owned Rook I property, Athabasca Basin, Saskatchewan. Angled drill hole AR-15-37 successfully delineated the high grade core of the A2 structure within the Arrow zone, while AR-15-38 is confirmed to have expanded the strike length of the core by 88 m to the southwest of AR-14-30 (see October 6th, 2014 news release). Assays are presented in Table 1, a plan map of the Arrow zone is shown in Figure 1, and a long section highlighting AR-15-37 and -38 is shown in Figure 2.
Highlights:
Angled holes
Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented "The high grade core of the A2 mineralized structure at the Arrow zone is further bolstered by drill hole AR-15-37, and has been expanded to a strike length of 88 m from AR-14-15 to AR-15-38. These strong assay values are a result of our technical team's thoroughness and dedication to understand the structures that control mineralization, and to successfully predict where additional high grade is present."
Leigh Curyer, CEO commented, "The high grade zone with the A2 shear at Arrow continues to grow in size. I congratulate the technical team for the outstanding work in developing Arrow at such a rate in only 38 holes drilled to date. The program is already exceeding objectives set at the commencement of the season and the team will continue to aggressively develop the project."
Table 1: Winter 2015 Drill Hole Composited Mineralized Intervals
| Drill Hole |
Athabasca Group - |
SRC Geoanalytical Results |
||||||
| Hole ID |
Azimuth |
Dip |
Total |
From |
To |
Interval |
U3O8 |
|
| AR-15-37 |
320 |
-75 |
759.00 |
129.80 |
388.00 |
389.50 |
1.50 |
0.03 |
| 404.00 |
409.00 |
5.00 |
0.02 |
|||||
| 415.50 |
425.00 |
9.50 |
0.03 |
|||||
| 441.50 |
442.50 |
1.00 |
0.03 |
|||||
| 461.00 |
463.00 |
2.00 |
0.05 |
|||||
| 580.50 |
597.00 |
16.50 |
2.46 |
|||||
| including |
591.00 |
594.00 |
3.00 |
12.85 |
||||
| 602.00 |
615.50 |
13.50 |
0.34 |
|||||
| 621.50 |
661.50 |
40.00 |
2.88 |
|||||
| including |
635.00 |
657.00 |
22.00 |
4.92 |
||||
| 664.00 |
670.00 |
6.00 |
0.75 |
|||||
| AR-15-38 |
320 |
-70 |
783.00 |
127.00 |
474.00 |
476.00 |
2.00 |
0.10 |
| 478.50 |
512.50 |
34.00 |
0.08 |
|||||
| 516.00 |
548.50 |
32.50 |
0.03 |
|||||
| 553.50 |
561.00 |
7.50 |
0.18 |
|||||
| 583.50 |
615.50 |
32.00 |
0.90 |
|||||
| 624.00 |
626.50 |
2.50 |
0.06 |
|||||
| 634.00 |
636.00 |
2.00 |
0.54 |
|||||
| 691.00 |
693.50 |
2.50 |
0.18 |
|||||
| 698.50 |
701.00 |
2.50 |
0.01 |
|||||
| 719.00 |
721.50 |
2.50 |
0.34 |
|||||
Composite parameters:
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 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 were analyzed for U3O8 by ICP-OES and gold by fire assay.
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 exploration professionals with a track record in the discovery of unconformity-style and basement hosted uranium deposits in Canada.
NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook 1, location of the Arrow Zone, and an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit.
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: Plan view of Arrow Zone (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150319_C7646_PHOTO_EN_13385.jpg
Image with caption: "Figure 2: Long Section of A2 Shear, Arrow Zone (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150319_C7646_PHOTO_EN_13386.jpg
Kin Communications, Tel: 604 684 6730, Toll free 1 866 684 6730, Email: [email protected], Website: http://www.nexgenenergy.ca
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