VANCOUVER, Feb. 9, 2016 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSXV:NXE, OTCQX:NXGEF) is pleased to announce further results from our on-going six rig 30,000 m winter 2016 drill program on our 100% owned Rook I Property, Athabasca Basin, Saskatchewan.
Hole AR-16-63c2 has drilled the most significant accumulations of massive pitchblende ever encountered at the Arrow zone. The mineralization, which was intersected 19 m up-dip and southwest of AR-15-44b in the higher grade A2 sub-zone (the "Sub-Zone"), featured 40.85 m of off-scale radioactivity (>10,000 to >61,000 cps) and included 13.85 m at a minimum-of-greater-than-61,000 cps.
The mineralization encountered in hole -63c2 includes the most minimum-of-greater-than-61,000 cps mineralization seen at Arrow and is nearly seven times as much as hole AR-15-62 which is the best hole at the project on a continuous grade x thickness ("GT") basis at 787. Hole -63c2 was drilled 27 m down-dip and southwest from hole AR-16-64c2 (see News Release dated February 2, 2016).
Highlights:
A2 Shear:
| Table 1: Higher Grade A2 Sub-Zone Drill Hole Comparisons |
|||||||||||
| AR-15- |
AR-15- |
AR-15- |
AR-16- |
AR-15- |
AR-16- |
AR-15- |
AR-16- |
AR-16- |
AR-15- |
AR-15- |
|
| Total composite mineralization = |
75.50 m |
42.00 m |
86.00 m |
55.50 m |
143.00 m |
138.00 m |
135.60 m |
76.00 m |
74.0 m |
73.50 m |
62.50 m |
| Total Off-scale (>10,000 to 29,999 cps)3 = |
11.40 m |
5.90 m |
14.30 m |
6.85 m |
17.75 m |
17.10 m |
30.25 m |
15.95 m |
10.30 m |
15.70 m |
4.40 m |
| Total Off-scale (>30,000 to 60,999 cps)3 = |
4.50 m |
3.00 m |
3.85 m |
0.50 m |
10.60 m |
9.90 m |
7.75 m |
4.70 m |
3.70 m |
5.20 m |
2.50 m |
| Total Off-scale (>61,000 cps)3 = |
1.00 m |
0.50 m |
2.00 m |
0.00 m |
2.00 m |
13.85 m |
1.50 m |
5.50 m |
0.00 m |
2.15 m |
1.80 m |
| Continuous GT (Grade x Thickness) = |
371 |
277 |
200 and |
Assays |
787 |
Assays |
655 |
Assays |
Assays |
605 |
319 |
| 1 radioactivity results previously released |
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| 2 radioactivity and assays results previously released |
|||||||||||
| 3 minimum radioactivity using RS-120 gamma spectrometer |
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Arrow, Activities & Financial
Drill hole locations, the Sub-Zone long section and a gamma log profile are shown in Figures 1 through 3. Table 2 has a summary of the mineralized intervals.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Results from hole AR-16-63c2 are simply stunning, and represent the strongest radioactivity ever recorded at the Arrow zone. The continuity of mineralization in the higher grade A2 sub-zone is clearly evident. Furthermore, this zone remains open and will be tested further this winter together with exploring for other potential 'sub-zones' at Arrow. Hole -63c2 has a similar radioactivity profile to AR-15-62 (returned continuous GT of 787), except it has nearly seven times as much minimum >61,000 cps. The gamma probe comparison between the two holes really says it all."
Leigh Curyer, Chief Executive Officer, commented: "The Arrow zone has again delivered a truly unique hole. The winter 2016 program has already produced highly material results in only its first month of operation, highlighting Arrow's current and future potential. Our six rig program will continue to define the A2 sub-zone further as well as drill for zone extensions and along strike from Arrow."
Table 2: Arrow Zone Drill Hole Data
| Drill Hole |
Athabasca |
Handheld Scintillometer Results (RS-120) |
||||||
| Hole ID |
Azimuth |
Dip |
Total |
From (m) |
To (m) |
Width (m) |
CPS Range |
|
| AR-16-63c2 |
156 |
-74.2 |
657.00 |
109.10 |
439.50 |
451.00 |
11.50 |
<500 - 30500 |
| 460.50 |
500.00 |
39.50 |
<500 - >61000 |
|||||
| 503.50 |
518.00 |
14.50 |
<500 - >61000 |
|||||
| 521.00 |
546.50 |
25.50 |
<500 - >61000 |
|||||
| 559.00 |
568.50 |
9.50 |
<500 - >61000 |
|||||
| 571.50 |
583.50 |
12.00 |
<500 - >61000 |
|||||
| 589.50 |
594.50 |
5.00 |
<500 - 1000 |
|||||
| 597.00 |
602.00 |
5.00 |
<500 - 1500 |
|||||
| 604.50 |
610.50 |
6.00 |
<500 - 4000 |
|||||
| 621.50 |
623.00 |
1.50 |
<500 - 900 |
|||||
| 629.00 |
633.00 |
4.00 |
<500 - 1700 |
|||||
| 636.50 |
639.00 |
2.50 |
<500 - 1600 |
|||||
| 644.00 |
645.50 |
1.50 |
<500 - 1200 |
|||||
Parameters:
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 n ot 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.
ARROW ZONE DRILLING
AR-16-63c2
Hole AR-16-63c2 was a directional hole that departed pilot hole AR-16-63c1 at 292 m. It tested the A2 shear 19 m up-dip and southwest of AR-15-44b (11.55% U3O8 over 56.5 m in the A2 shear). Directional drilling was initiated at 303 m and the A2 shear was intersected at an inclination of -73°.
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 shear). Extensive visible uranium mineralization was intersected in the higher grade sub-zone of the A2 shear that unequivocally featured the heaviest concentrations of massive pitchblende ever drilled at Arrow. A total composite mineralization of 138.0 m including 40.85 m of off-scale radioactivity (>10,000 - >61,000 cps) was intersected within 206.0 m section (439.5 – 645.5 m), all within the A2 shear. Furthermore, an unprecedented 13.85 m of core within the mineralized intersection showed minimum radioactivity in excess of 61,000 cps.
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 and Bow Discovery 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, 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.
Image with caption: "Figure 1: Arrow Zone Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160209_C1335_PHOTO_EN_616341.jpg
Image with caption: "Figure 2: A2 Mineralized Shear Long Section (Close Up of Sub-Zone) (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160209_C1335_PHOTO_EN_616343.jpg
Image with caption: "Figure 3: Gamma Probe Profiles (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160209_C1335_PHOTO_EN_616345.jpg
Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, [email protected], www.nexgenenergy.ca; Travis McPherson, Corporate Development Manager, NexGen Energy Ltd., +1 604 428 4112, [email protected], http://www.nexgenenergy.ca
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