NexGen Announces Commencement of Summer Program and Assay Results from Winter 2017 Drilling
Jul 12, 2017, 06:30 ET
VANCOUVER, July 12, 2017 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, NYSE:NXE) is pleased to announce the commencement of a summer drilling and development program as well as to report assay results for 25 holes from the winter 2017 drilling program at our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Summer Drill Program
The summer program will consist of a minimum of 25,000 m of diamond drilling utilizing seven drill rigs. Six rigs are drilling expansion and delineation targets at the Arrow Deposit. The seventh rig is testing the newly identified area 300 m southeast of Arrow (Figure 1).
There are three primary objectives of summer activities:
- Inferred mineral resource growth through continued systematic step-out drilling around the current resource domains in the A1 through A4 shears, primarily in the southwest and northeast 'gaps'. These areas, among others, represent key resource growth opportunities.
- Indicated mineral resource growth in high impact areas of the High Grade Domains in the A3 Shear through targeted infill drilling.
- Development activities that include geotechnical, hydrogeological, metallurgical and environmental work as the project is advanced rapidly towards the pre-feasibility stage.
In addition, further upgrades to the Rook I camp have been completed during the Spring drilling pause.
NexGen continues to advance Arrow towards development while concurrently expanding the resource base. The Company will undertake further advanced geotechnical, hydrogeological, metallurgical and environmental studies at preliminary feasibility levels. The Company's commitment to community engagement also continues to expand through a number of community supported initiatives targeting employment, education, recreation and health. Rook I camp facilities will continue to expand in 2017 to accommodate all current and near-term development activities.
Winter 2017 Assay Results
Drilling in winter 2017 designed to expand Indicated mineral resources in the A2 and A3 shears was successful with widespread mineralization being intersected in both shears.
A2 Infill Holes
- AR-17-114c2 (115 m northeast and down-dip from AR-15-44b) intersected 33.0 m at 4.58% U3O8 (681.5 to 714.5 m) including 11.0 m at 8.78% U3O8 (697.5 to 708.5 m).
- AR-17-117c1 (25 m southwest and up-dip from AR-15-44b) intersected 49.0 m at 2.93% U3O8 (519.5 to 568.5 m) including 12.0 m at 10.35% U3O8 (538.0 to 550.0 m).
A3 Infill Holes
- AR-17-121c1 (45m up-dip from AR-15-57c2) intersected 29.0 m at 2.39% U3O8 (519.0 to 548.0 m) including 4.0 m at 13.46% U3O8 (528.0 to 532.0 m).
A2 High Grade Domain Step-Out Drilling
Step-outs from the A2 High Grade Domain have returned high impact assay results. Holes AR-17-118c2 and AR-17-121c1 both intersected strong mineralization in the A2 shear.
- AR-17-118c2 (180 m northeast and down-dip from AR-15-44b and 60 m below the A2 High Grade Domain) intersected 62.0 m at 1.27% U3O8 (681.0 to 743.0 m) including 12.0 m at 5.13% U3O8 (728.0 to 740.0 m).
Northeast Gap A2 and A3 Expansion Drilling
Expansion drilling northeast of the Arrow resource domains in the northeast gap has retuned areas of broad mineralization. The northeast gap continues to represent a key resource growth opportunity at Arrow.
A3 Northeast Expansion
- AR-17-116c1 (115 m northeast and up-dip from AR-15-57c2) intersected 43.0 m at 1.19% U3O8 (469.0 to 512.0 m) including 18.0 m at 2.43% U3O8 (474.5 to 492.5 m).
- AR-17-119c2 (240 m northeast and down-dip from AR-15-57c2) intersected 12.5 m at 1.61% U3O8 (715.5 to 728.0 m).
Arrow, Activities & Financial
- Assay results remain pending for 31 holes from Arrow and 8 exploration holes drilled near Arrow.
- A maiden Preliminary Economic Assessment is imminently scheduled.
- Upon completion of the previously announced financing with CEF Holdings Limited, the Company will have cash on hand of approximately $200 million (see News Release dated June 30, 2017).
A longitudinal section highlighting target growth areas for summer 2017 is shown in Figure 1. Longitudinal sections and a map showing drill hole locations are shown in Figures 2 to 4. Table 1 shows complete assay results for holes included herein.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "These latest results confirm and exceed our previously reported drill hole radioactivity results, which we expect will be accretive to the ultimate size of the Arrow Deposit. Much of the winter 2017 program was focused on a first pass of the Northeast and Southwest Gaps, which we plan on following up and expanding with the summer 2017 drill program."
Leigh Curyer, Chief Executive Officer, comment: "On the back of the success of the winter program we now look ahead to our summer activities which include 25,000 m of drilling as well as advanced engineering and environmental studies. Arrow's current resource base makes it the largest uranium deposit in Canada on a net to operator basis and we look forward to the delivery of the maiden preliminary economic assessment imminently. Combined with the strategic investment by CEF, we are in the strongest position the Company has ever been in and are well positioned to meet our objective of becoming a major global uranium production source."
| Table 1: Arrow Deposit Assay Results |
||||||||
| Drill Hole |
Athabasca Group - |
SRC Geoanalytical Results |
||||||
| Hole ID |
Azimuth |
Dip |
Total |
From (m) |
To (m) |
Interval |
U3O8 (wt%) |
|
| AR-17-114c1 |
327 |
-70 |
849.50 |
130.00 |
436.00 |
456.00 |
20.00 |
0.22 |
| 472.00 |
474.50 |
2.50 |
0.25 |
|||||
| 482.00 |
489.00 |
7.00 |
0.07 |
|||||
| 493.00 |
494.00 |
1.00 |
0.05 |
|||||
| 502.50 |
509.50 |
7.00 |
1.10 |
|||||
| 514.00 |
517.00 |
3.00 |
7.10 |
|||||
| 532.50 |
533.50 |
1.00 |
0.03 |
|||||
| 606.50 |
609.50 |
3.00 |
0.13 |
|||||
| 612.00 |
617.50 |
5.50 |
0.15 |
|||||
| 623.50 |
632.50 |
9.00 |
2.24 |
|||||
| 635.00 |
640.00 |
5.00 |
0.44 |
|||||
| 645.50 |
679.00 |
33.50 |
1.64 |
|||||
| 682.50 |
699.00 |
16.50 |
0.15 |
|||||
| 701.50 |
713.00 |
11.50 |
0.28 |
|||||
| 735.00 |
739.00 |
4.00 |
0.04 |
|||||
| AR-17-114c2 |
327 |
-70 |
823.50 |
130.00 |
432.50 |
444.00 |
11.50 |
0.02 |
| 447.00 |
454.00 |
7.00 |
0.16 |
|||||
| 462.00 |
463.00 |
1.00 |
0.27 |
|||||
| 468.00 |
469.00 |
1.00 |
1.48 |
|||||
| 477.00 |
478.00 |
1.00 |
0.05 |
|||||
| 482.00 |
484.00 |
2.00 |
0.14 |
|||||
| 491.00 |
504.00 |
13.00 |
1.07 |
|||||
| 507.00 |
515.00 |
8.00 |
0.12 |
|||||
| 521.00 |
522.00 |
1.00 |
0.25 |
|||||
| 526.00 |
528.00 |
2.00 |
2.26 |
|||||
| 531.00 |
533.00 |
2.00 |
0.31 |
|||||
| 536.00 |
562.00 |
26.00 |
2.59 |
|||||
| incl. |
542.00 |
547.00 |
5.00 |
13.14 |
||||
| 566.00 |
568.00 |
2.00 |
0.06 |
|||||
| 572.50 |
574.00 |
1.50 |
0.02 |
|||||
| 622.50 |
623.50 |
1.00 |
0.05 |
|||||
| 636.00 |
636.50 |
0.50 |
0.02 |
|||||
| 641.50 |
643.50 |
2.00 |
0.27 |
|||||
| 667.00 |
670.50 |
3.50 |
0.01 |
|||||
| 674.50 |
677.50 |
3.00 |
0.02 |
|||||
| 681.50 |
714.50 |
33.00 |
4.58 |
|||||
| incl. |
697.50 |
708.50 |
11.00 |
8.78 |
||||
| 730.50 |
733.00 |
2.50 |
0.28 |
|||||
| AR-17-114c3 |
327 |
-70 |
792.50 |
130.00 |
639.00 |
651.50 |
12.50 |
0.31 |
| 673.00 |
674.00 |
1.00 |
0.01 |
|||||
| 677.00 |
681.00 |
4.00 |
0.03 |
|||||
| 684.00 |
687.50 |
3.50 |
0.03 |
|||||
| 694.50 |
695.50 |
1.00 |
0.01 |
|||||
| 701.50 |
714.50 |
13.00 |
0.34 |
|||||
| 723.00 |
727.50 |
4.50 |
0.87 |
|||||
| AR-17-115c1 |
327 |
-70 |
714.50 |
118.40 |
451.50 |
452.00 |
0.50 |
0.13 |
| 459.00 |
461.00 |
2.00 |
0.07 |
|||||
| 478.50 |
488.50 |
10.00 |
0.14 |
|||||
| 509.50 |
510.00 |
0.50 |
0.04 |
|||||
| 524.50 |
525.50 |
1.00 |
0.08 |
|||||
| 533.50 |
534.00 |
0.50 |
0.15 |
|||||
| 536.50 |
537.50 |
1.00 |
0.19 |
|||||
| 560.00 |
560.50 |
0.50 |
0.04 |
|||||
| 603.00 |
619.00 |
16.00 |
0.39 |
|||||
| 642.50 |
643.50 |
1.00 |
0.02 |
|||||
| 658.00 |
663.50 |
5.50 |
0.07 |
|||||
| 674.00 |
675.00 |
1.00 |
0.07 |
|||||
| AR-17-115c2 |
327 |
-70 |
786.50 |
118.40 |
458.50 |
459.00 |
0.50 |
0.06 |
| 465.00 |
465.50 |
0.50 |
0.11 |
|||||
| 468.50 |
469.00 |
0.50 |
0.08 |
|||||
| 495.00 |
496.00 |
1.00 |
0.27 |
|||||
| 500.50 |
501.50 |
1.00 |
0.68 |
|||||
| 516.50 |
520.50 |
4.00 |
0.04 |
|||||
| 533.50 |
534.50 |
1.00 |
0.05 |
|||||
| 539.50 |
542.00 |
2.50 |
0.23 |
|||||
| 550.50 |
551.00 |
0.50 |
1.11 |
|||||
| 572.50 |
576.00 |
3.50 |
0.02 |
|||||
| 580.00 |
582.50 |
2.50 |
0.06 |
|||||
| 600.50 |
603.00 |
2.50 |
0.05 |
|||||
| 608.00 |
610.00 |
2.00 |
0.76 |
|||||
| 614.00 |
628.00 |
14.00 |
2.23 |
|||||
| incl. |
614.00 |
617.00 |
3.00 |
8.38 |
||||
| 632.00 |
640.00 |
8.00 |
0.06 |
|||||
| 644.00 |
656.50 |
12.50 |
0.17 |
|||||
| 672.50 |
676.50 |
4.00 |
0.09 |
|||||
| 698.00 |
701.50 |
3.50 |
0.07 |
|||||
| AR-17-116c1 |
327 |
-70 |
879.50 |
132.00 |
425.50 |
443.00 |
17.50 |
0.16 |
| 449.00 |
449.50 |
0.50 |
0.73 |
|||||
| 452.50 |
466.00 |
13.50 |
0.23 |
|||||
| 469.00 |
512.00 |
43.00 |
1.19 |
|||||
| incl. |
474.50 |
492.50 |
18.00 |
2.43 |
||||
| 605.00 |
608.50 |
3.50 |
0.90 |
|||||
| 625.00 |
625.50 |
0.50 |
0.11 |
|||||
| 636.00 |
637.50 |
1.50 |
0.03 |
|||||
| 657.00 |
661.00 |
4.00 |
0.04 |
|||||
| 705.50 |
707.00 |
1.50 |
0.04 |
|||||
| 796.50 |
799.00 |
2.50 |
0.10 |
|||||
| 802.00 |
806.50 |
4.50 |
0.07 |
|||||
| AR-17-116c2 |
327 |
-70 |
897.50 |
132.00 |
440.00 |
440.50 |
0.50 |
0.09 |
| 443.50 |
445.50 |
2.00 |
0.10 |
|||||
| 455.00 |
459.00 |
4.00 |
0.15 |
|||||
| 485.00 |
485.50 |
0.50 |
0.03 |
|||||
| 488.50 |
493.50 |
5.00 |
0.93 |
|||||
| 497.50 |
500.00 |
2.50 |
3.58 |
|||||
| 518.00 |
526.50 |
8.50 |
0.53 |
|||||
| 532.00 |
532.50 |
0.50 |
0.03 |
|||||
| 536.50 |
540.00 |
3.50 |
0.08 |
|||||
| 545.50 |
550.00 |
4.50 |
0.03 |
|||||
| 565.50 |
574.00 |
8.50 |
0.05 |
|||||
| 578.00 |
582.00 |
4.00 |
0.04 |
|||||
| 641.00 |
645.50 |
4.50 |
0.03 |
|||||
| 663.50 |
675.00 |
11.50 |
0.08 |
|||||
| 678.00 |
688.00 |
10.00 |
0.03 |
|||||
| 693.50 |
710.50 |
17.00 |
2.35 |
|||||
| incl. |
700.00 |
708.00 |
8.00 |
4.92 |
||||
| 720.50 |
735.50 |
15.00 |
0.62 |
|||||
| 747.00 |
747.50 |
0.50 |
0.03 |
|||||
| 752.00 |
754.00 |
2.00 |
0.07 |
|||||
| 860.00 |
861.50 |
1.50 |
0.06 |
|||||
| AR-17-117c1 |
327 |
-70 |
621.50 |
124.20 |
395.00 |
400.50 |
5.50 |
0.02 |
| 407.50 |
409.00 |
1.50 |
0.06 |
|||||
| 418.00 |
419.00 |
1.00 |
0.05 |
|||||
| 426.00 |
454.50 |
28.50 |
0.06 |
|||||
| 457.50 |
504.50 |
47.00 |
0.04 |
|||||
| 519.50 |
568.50 |
49.00 |
2.93 |
|||||
| incl. |
538.00 |
550.00 |
12.00 |
10.35 |
||||
| 572.50 |
573.50 |
1.00 |
0.01 |
|||||
| 578.50 |
579.50 |
1.00 |
0.01 |
|||||
| 588.50 |
590.50 |
2.00 |
0.08 |
|||||
| 605.50 |
612.50 |
7.00 |
0.21 |
|||||
| AR-17-118c1 |
327 |
-70 |
873.00 |
129.90 |
427.00 |
427.50 |
0.50 |
0.01 |
| 462.50 |
464.00 |
1.50 |
0.09 |
|||||
| 467.00 |
475.00 |
8.00 |
0.05 |
|||||
| 534.00 |
543.50 |
9.50 |
0.42 |
|||||
| 571.50 |
577.00 |
5.50 |
0.29 |
|||||
| 585.50 |
586.00 |
0.50 |
0.13 |
|||||
| 606.50 |
612.50 |
6.00 |
2.17 |
|||||
| 616.50 |
622.50 |
6.00 |
0.60 |
|||||
| 627.50 |
650.50 |
23.00 |
2.01 |
|||||
| incl. |
631.50 |
642.50 |
11.00 |
4.04 |
||||
| 654.50 |
670.50 |
16.00 |
0.14 |
|||||
| 675.00 |
675.50 |
0.50 |
0.02 |
|||||
| 687.00 |
688.00 |
1.00 |
0.02 |
|||||
| 695.00 |
713.50 |
18.50 |
0.07 |
|||||
| 716.00 |
719.50 |
3.50 |
0.01 |
|||||
| 743.00 |
747.50 |
4.50 |
0.01 |
|||||
| 758.50 |
759.00 |
0.50 |
0.04 |
|||||
| 814.50 |
815.00 |
0.50 |
0.02 |
|||||
| 839.00 |
840.00 |
1.00 |
0.90 |
|||||
| AR-17-118c2 |
327 |
-70 |
828.50 |
129.90 |
440.00 |
440.50 |
0.50 |
0.02 |
| 511.00 |
513.00 |
2.00 |
0.13 |
|||||
| 524.00 |
525.00 |
1.00 |
0.17 |
|||||
| 534.00 |
537.50 |
3.50 |
1.73 |
|||||
| 551.50 |
555.50 |
4.00 |
0.45 |
|||||
| 568.00 |
571.50 |
3.50 |
0.83 |
|||||
| 579.50 |
588.00 |
8.50 |
4.51 |
|||||
| incl. |
580.00 |
584.00 |
4.00 |
9.10 |
||||
| 591.00 |
593.50 |
2.50 |
3.69 |
|||||
| 602.50 |
604.00 |
1.50 |
0.55 |
|||||
| 613.50 |
645.00 |
31.50 |
0.97 |
|||||
| incl. |
624.00 |
629.00 |
5.00 |
5.45 |
||||
| 649.00 |
650.00 |
1.00 |
0.02 |
|||||
| 658.00 |
661.00 |
3.00 |
0.01 |
|||||
| 669.00 |
677.00 |
8.00 |
0.02 |
|||||
| 681.00 |
743.00 |
62.00 |
1.27 |
|||||
| incl. |
728.00 |
740.00 |
12.00 |
5.13 |
||||
| 746.00 |
749.00 |
3.00 |
0.07 |
|||||
| 752.00 |
753.50 |
1.50 |
0.02 |
|||||
| 756.50 |
757.50 |
1.00 |
0.01 |
|||||
| AR-17-119c1 |
147 |
-67 |
825.50 |
119.50 |
354.00 |
358.00 |
4.00 |
0.07 |
| 418.00 |
436.00 |
18.00 |
0.21 |
|||||
| 456.00 |
456.50 |
0.50 |
0.15 |
|||||
| 462.50 |
471.50 |
9.00 |
0.14 |
|||||
| 487.50 |
489.50 |
2.00 |
0.17 |
|||||
| 504.00 |
506.50 |
2.50 |
7.59 |
|||||
| 509.50 |
510.50 |
1.00 |
0.13 |
|||||
| 514.00 |
514.50 |
0.50 |
0.13 |
|||||
| 529.00 |
529.50 |
0.50 |
0.03 |
|||||
| 536.00 |
536.50 |
0.50 |
0.06 |
|||||
| 543.50 |
560.50 |
17.00 |
0.53 |
|||||
| 569.00 |
570.50 |
1.50 |
0.02 |
|||||
| 580.50 |
581.50 |
1.00 |
0.07 |
|||||
| 591.00 |
592.00 |
1.00 |
0.06 |
|||||
| 596.00 |
596.50 |
0.50 |
0.08 |
|||||
| 605.50 |
608.50 |
3.00 |
0.14 |
|||||
| 613.00 |
624.50 |
11.50 |
0.03 |
|||||
| 679.00 |
687.50 |
8.50 |
0.50 |
|||||
| 715.50 |
716.00 |
0.50 |
0.01 |
|||||
| AR-17-119c2 |
147 |
-67 |
1065.50 |
119.50 |
381.50 |
396.50 |
15.00 |
0.19 |
| 403.50 |
404.50 |
1.00 |
0.06 |
|||||
| 411.50 |
413.00 |
1.50 |
0.07 |
|||||
| 461.50 |
469.00 |
7.50 |
0.27 |
|||||
| 475.00 |
479.00 |
4.00 |
0.03 |
|||||
| 488.00 |
500.00 |
12.00 |
0.25 |
|||||
| 507.00 |
507.50 |
0.50 |
0.10 |
|||||
| 515.50 |
516.50 |
1.00 |
0.07 |
|||||
| 520.50 |
534.00 |
13.50 |
0.15 |
|||||
| 539.00 |
541.50 |
2.50 |
0.03 |
|||||
| 546.50 |
575.00 |
28.50 |
0.64 |
|||||
| 602.00 |
615.00 |
13.00 |
0.09 |
|||||
| 627.00 |
630.00 |
3.00 |
0.02 |
|||||
| 715.50 |
728.00 |
12.50 |
1.61 |
|||||
| 891.00 |
891.50 |
0.50 |
0.06 |
|||||
| 970.00 |
970.50 |
0.50 |
0.02 |
|||||
| 1011.50 |
1012.00 |
0.50 |
0.03 |
|||||
| AR-17-120c1 |
327 |
-70 |
846.50 |
114.80 |
534.00 |
536.00 |
2.00 |
1.74 |
| 620.00 |
620.50 |
0.50 |
0.02 |
|||||
| 625.50 |
626.00 |
0.50 |
0.12 |
|||||
| 635.00 |
639.00 |
4.00 |
0.45 |
|||||
| 664.50 |
665.00 |
0.50 |
0.01 |
|||||
| 715.00 |
716.00 |
1.00 |
0.03 |
|||||
| AR-17-120c2 |
327 |
-70 |
864.50 |
114.80 |
552.00 |
552.50 |
0.50 |
0.03 |
| 633.00 |
634.50 |
1.50 |
0.29 |
|||||
| 691.00 |
691.50 |
0.50 |
0.05 |
|||||
| 717.00 |
719.00 |
2.00 |
0.08 |
|||||
| AR-17-121c1 |
327 |
-70 |
816.50 |
134.10 |
455.00 |
464.00 |
9.00 |
0.15 |
| 481.00 |
482.00 |
1.00 |
1.02 |
|||||
| 485.00 |
505.00 |
20.00 |
0.28 |
|||||
| 509.00 |
514.00 |
5.00 |
0.37 |
|||||
| 519.00 |
548.00 |
29.00 |
2.39 |
|||||
| incl. |
528.00 |
532.00 |
4.00 |
13.46 |
||||
| 551.00 |
583.00 |
32.00 |
0.19 |
|||||
| 586.00 |
587.00 |
1.00 |
0.32 |
|||||
| 593.00 |
598.00 |
5.00 |
0.01 |
|||||
| 636.50 |
665.00 |
28.50 |
1.09 |
|||||
| incl. |
660.00 |
663.00 |
3.00 |
9.25 |
||||
| 669.00 |
681.00 |
12.00 |
1.27 |
|||||
| 684.00 |
693.50 |
9.50 |
0.20 |
|||||
| 714.00 |
735.00 |
21.00 |
0.95 |
|||||
| 785.00 |
786.00 |
1.00 |
0.14 |
|||||
| AR-17-121c2 |
327 |
-70 |
813.50 |
134.10 |
473.50 |
474.00 |
0.50 |
0.04 |
| 479.00 |
479.50 |
0.50 |
0.01 |
|||||
| 483.50 |
491.00 |
7.50 |
0.79 |
|||||
| 497.00 |
562.00 |
65.00 |
1.23 |
|||||
| incl. |
532.00 |
534.00 |
2.00 |
11.33 |
||||
| 616.50 |
631.00 |
14.50 |
0.48 |
|||||
| 642.50 |
668.50 |
26.00 |
0.44 |
|||||
| 684.50 |
685.00 |
0.50 |
0.02 |
|||||
| 689.50 |
691.00 |
1.50 |
0.09 |
|||||
| 710.50 |
713.00 |
2.50 |
0.19 |
|||||
| 734.50 |
735.50 |
1.00 |
0.12 |
|||||
| 754.50 |
759.50 |
5.00 |
0.10 |
|||||
| AR-17-126c1 |
327 |
-70 |
831.00 |
131.70 |
397.50 |
398.00 |
0.50 |
0.14 |
| 404.50 |
405.00 |
0.50 |
0.01 |
|||||
| 408.00 |
411.50 |
3.50 |
0.24 |
|||||
| 424.00 |
424.50 |
0.50 |
0.07 |
|||||
| 429.50 |
430.50 |
1.00 |
1.88 |
|||||
| 436.50 |
448.50 |
12.00 |
0.10 |
|||||