NexGen Significantly Expands New High Grade Zone in A1 Shear and Drills Extensive Off-Scale Across A2 Shear
VANCOUVER, July 13, 2016 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSXV:NXE, OTCQX:NXGEF) is pleased to announce further results from our recently completed spring drilling program on our 100% owned Rook I Property, Athabasca Basin, Saskatchewan. Eight drill holes have intersected extensive mineralization, and off-scale radioactivity (>10,000 to >61,000 cps) has been intersected in each of the A1, A2, A3 and A4 shears.
The new high grade zone within the A1 shear was initially discovered with drill hole AR-16-84c1 (8.35 m of off-scale radioactivity with assays pending – see News Release dated April 14, 2016), and has been significantly expanded towards the northeast with drill holes AR-16-91c3 and -91c4. Holes -91c3 and -91c4 were drilled 30 m up-dip and northeast and 25 m down-dip and northeast, respectively from hole -84c1. The A1 shear currently has a mineralized strike length of 360 m and remains largely untested.
Substantial high grade mineralization also continues to be encountered in the A2 shear. Drill holes AR-16-84c4, -91c1, -91c3, -91c4 and -92c1 each intersected massive to semi-massive pitchblende mineralization and significant off-scale radioactivity with intervals at greater-than-61,000 cps.
Assay results remain pending for 30 holes, including intensely mineralized holes from the A2 Sub-Zone and the newly discovered area 180 m southwest of Arrow. Furthermore, six drill rigs are now fully operational at Rook I, with a seventh rig expected to start in mid-July.
Highlights:
A1 Shear:
- AR-16-91c3 (30 m up-dip and northeast from AR-16-84c1) intersected 49.5 m of total composite mineralization including 5.0 m of total composite off-scale radioactivity (>10,000 – 54,000 cps) within a 150.0 m section (575.0 to 725.0 m).
- AR-16-91c4 (25 m down-dip and northeast from AR-16-84c1) intersected 87.0 m of total composite mineralization including 4.1 m of total composite off-scale radioactivity (>10,000 – 29,000 cps) within a 133.0 m section (591.0 to 724.0 m).
A2 Shear:
- AR-16-91c4 (70 m up-dip and northeast from AR-15-44b) intersected 78.5 m of total composite mineralization including 9.65 m of total composite off-scale radioactivity (>10,000 – >61,000 cps) within a 150.0 m section (425.5 to 575.5 m).
- AR-16-92c1 (23 m down-dip and southwest from AR-15-44b) intersected 86.95 m of total composite mineralization including 9.5 m of total composite off-scale radioactivity (>10,000 – >61,000 cps) within a 111.5 m section (535.5 to 647.0 m).
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 in mid-July.
- The Company has cash on hand of approximately $100 million.
A drill hole location map, the A1 long section and a close-up of the A2 long section are shown in Figures 1 to 3.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Drill holes AR-16-91c3 and -91c4 in the A1 shear show excellent extensions of high grade mineralization to the northeast of hole -84c1, where there is over 300 m of existing strike length open to test. Additionally, mineralization has been encountered northwest of the A1 and southeast of the A4, which indicates excellent potential to discover additional mineralized shears laterally at the Arrow deposit. Drilling of the A2 high grade domain continues to return outstanding high grade intervals containing massive to semi-massive pitchblende."
Leigh Curyer, Chief Executive Officer commented: "Today's results indicate Arrow has substantial growth potential within each of the four shears as well as the A2 high grade domain. The team is looking forward to the summer program results as we define the current footprint of Arrow with infill and expansion drilling as well as drilling at the new area 180 m southwest of Arrow and along trend from Arrow where we see multiple high priority exploration targets."
Table 1: Arrow Deposit 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-16-84c4 |
328 |
-70 |
651.00 |
127.00 |
415.00 |
415.50 |
0.50 |
<500 - 750 |
| 420.00 |
420.50 |
0.50 |
<500 - 920 |
|||||
| 424.00 |
424.50 |
0.50 |
<500 - 650 |
|||||
| 434.50 |
435.00 |
0.50 |
<500 - 600 |
|||||
| 440.00 |
444.00 |
4.00 |
<500 - 1700 |
|||||
| 471.50 |
475.50 |
4.00 |
<500 - 2300 |
|||||
| 480.00 |
480.50 |
0.50 |
<500 - 800 |
|||||
| 483.00 |
483.50 |
0.50 |
<500 - 950 |
|||||
| 490.50 |
493.50 |
3.00 |
<500 - 600 |
|||||
| 496.00 |
497.00 |
1.00 |
<500 - 750 |
|||||
| 502.00 |
503.00 |
1.00 |
<500 - 600 |
|||||
| 541.50 |
542.00 |
0.50 |
<500 - 820 |
|||||
| 545.50 |
546.00 |
0.50 |
<500 - 630 |
|||||
| 556.50 |
559.00 |
2.50 |
<500 - 930 |
|||||
| 566.00 |
588.00 |
22.00 |
<500 - >61000 |
|||||
| 592.00 |
604.00 |
12.00 |
<500 - 6400 |
|||||
| 608.50 |
609.00 |
0.50 |
<500 - 520 |
|||||
| 612.00 |
616.00 |
4.00 |
<500 - 2800 |
|||||
| AR-16-85c3 |
143 |
-70 |
840.00 |
114.40 |
419.50 |
424.00 |
4.50 |
<500 - 4300 |
| 429.00 |
430.50 |
1.50 |
<500 - 600 |
|||||
| 437.50 |
440.00 |
2.50 |
<500 - 2200 |
|||||
| 443.00 |
447.50 |
4.50 |
<500 - 1500 |
|||||
| 455.50 |
457.00 |
1.50 |
<500 - 2400 |
|||||
| 460.00 |
472.00 |
12.00 |
<500 - 3200 |
|||||
| 475.50 |
476.50 |
1.00 |
<500 - 1900 |
|||||
| 483.00 |
483.50 |
0.50 |
<500 - 600 |
|||||
| 486.00 |
498.50 |
12.50 |
<500 - 1100 |
|||||
| 503.00 |
503.50 |
0.50 |
<500 - 580 |
|||||
| 506.50 |
507.00 |
0.50 |
<500 - 680 |
|||||
| 515.00 |
517.50 |
2.50 |
<500 - 620 |
|||||
| 531.00 |
531.50 |
0.50 |
650 - 1100 |
|||||
| 549.50 |
552.00 |
2.50 |
<500 - >61000 |
|||||
| 558.50 |
559.00 |
0.50 |
<500 - 550 |
|||||
| 567.50 |
568.00 |
0.50 |
<500 - 750 |
|||||
| 572.50 |
579.00 |
6.50 |
<500 - 30500 |
|||||
| 584.00 |
585.00 |
1.00 |
650 - 25000 |
|||||
| 611.00 |
612.00 |
1.00 |
<500 - 44000 |
|||||
| 614.50 |
617.50 |
3.00 |
<500 - 22000 |
|||||
| 629.50 |
630.50 |
1.00 |
<500 - 7200 |
|||||
| 633.00 |
633.50 |
0.50 |
<500 - 550 |
|||||
| 647.50 |
648.00 |
0.50 |
<500 - 2800 |
|||||
| 664.50 |
665.00 |
0.50 |
<500 - 1100 |
|||||
| 671.50 |
672.00 |
0.50 |
<500 - 4000 |
|||||
| 693.00 |
694.00 |
1.00 |
<500 - 18000 |
|||||
| 714.50 |
716.00 |
1.50 |
<500 - 5600 |
|||||
| 720.00 |
720.50 |
0.50 |
<500 - 730 |
|||||
| 789.50 |
790.50 |
1.00 |
<500 - 3300 |
|||||
| AR-16-85c4 |
143 |
-70 |
822.00 |
114.40 |
426.50 |
443.00 |
16.50 |
<500 - 7000 |
| 453.50 |
454.50 |
1.00 |
<500 - 2300 |
|||||
| 457.00 |
472.50 |
15.50 |
<500 - 1500 |
|||||
| 476.50 |
480.50 |
4.00 |
<500 - 1250 |
|||||
| 484.50 |
485.50 |
1.00 |
<500 - 610 |
|||||
| 488.00 |
488.50 |
0.50 |
<500 - 530 |
|||||
| 492.00 |
492.50 |
0.50 |
<500 - 530 |
|||||
| 578.00 |
580.50 |
2.50 |
<500 - 5000 |
|||||
| 587.50 |
588.00 |
0.50 |
<500 - 780 |
|||||
| 591.50 |
595.50 |
4.00 |
<500 - 910 |
|||||
| 600.00 |
600.50 |
0.50 |
<500 - 530 |
|||||
| 604.00 |
604.50 |
0.50 |
<500 - 1050 |
|||||
| 613.00 |
613.50 |
0.50 |
<500 - 640 |
|||||
| 616.50 |
618.50 |
2.00 |
<500 - 3200 |
|||||
| 622.50 |
623.00 |
0.50 |
<500 - 700 |
|||||
| 628.00 |
637.50 |
9.50 |
<500 - 2100 |
|||||
| 670.00 |
670.50 |
0.50 |
<500 - 5300 |
|||||
| 683.00 |
684.50 |
1.50 |
<500 - 790 |
|||||
| 687.50 |
688.00 |
0.50 |
<500 - 590 |
|||||
| 690.50 |
696.00 |
5.50 |
<500 - 2300 |
|||||
| 742.50 |
743.50 |
1.00 |
<500 - 32000 |
|||||
| 747.00 |
750.50 |
3.50 |
<500 - 21000 |
|||||
| 760.00 |
761.00 |
1.00 |
<500 - 1250 |
|||||
| AR-16-86c2 |
142 |
-71 |
750.00 |
110.50 |
402.00 |
419.50 |
17.50 |
<500 - 4800 |
| 424.50 |
426.00 |
1.50 |
<500 - 1400 |
|||||
| 431.50 |
432.00 |
0.50 |
<500 - 840 |
|||||
| 436.00 |
440.00 |
4.00 |
<500 - 2500 |
|||||
| 452.00 |
452.50 |
0.50 |
<500 - 610 |
|||||
| 455.00 |
455.50 |
0.50 |
<500 - 840 |
|||||
| 459.50 |
462.50 |
3.00 |
<500 - 3100 |
|||||
| 466.00 |
468.50 |
2.50 |
<500 - 1100 |
|||||
| 477.00 |
486.50 |
9.50 |
<500 - 1250 |
|||||
| 490.00 |
490.50 |
0.50 |
<500 - 1750 |
|||||
| 512.00 |
512.50 |
0.50 |
<500 - 760 |
|||||
| 515.00 |
517.50 |
2.50 |
<500 - 680 |
|||||
| 526.50 |
535.00 |
8.50 |
<500 - 32000 |
|||||
| 545.50 |
554.00 |
8.50 |
<500 - 5300 |
|||||
| 564.50 |
578.00 |
13.50 |
<500 - 54000 |
|||||
| 587.50 |
589.00 |
1.50 |
<500 - 5800 |
|||||
| 593.00 |
593.50 |
0.50 |
<500 - 2000 |
|||||
| 607.00 |
607.50 |
0.50 |
<500 - 630 |
|||||
| 623.00 |
623.50 |
0.50 |
<500 - 1250 |
|||||
| 630.50 |
631.00 |
0.50 |
<500 - 750 |
|||||
| 652.00 |
653.00 |
1.00 |
<500 - 3600 |
|||||
| 658.00 |
658.50 |
0.50 |
<500 - 600 |
|||||
| 697.00 |
697.50 |
0.50 |
<500 - 550 |
|||||
| AR-16-91c1 |
327 |
-70 |
799.00 |
132.20 |
396.50 |
397.00 |
0.50 |
<500 - 5200 |
| 402.00 |
404.00 |
2.00 |
<500 - 2600 |
|||||
| 411.50 |
412.50 |
1.00 |
<500 - 800 |
|||||
| 416.50 |
417.00 |
0.50 |
<500 - 1000 |
|||||
| 419.50 |
420.50 |
1.00 |
<500 - 1200 |
|||||
| 425.50 |
428.00 |
2.50 |
<500 - 8900 |
|||||
| 430.50 |
439.50 |
9.00 |
<500 - 13000 |
|||||
| 443.00 |
452.00 |
9.00 |
<500 - 1500 |
|||||
| 458.00 |
461.00 |
3.00 |
<500 - 1300 |
|||||
| 465.50 |
483.00 |
17.50 |
<500 - 3500 |
|||||
| 489.50 |
494.00 |
4.50 |
<500 - 1500 |
|||||
| 499.00 |
504.00 |
5.00 |
<500 - 1600 |
|||||
| 506.50 |
525.00 |
18.50 |
<500 - >61000 |
|||||
| 528.50 |
539.50 |
11.00 |
<500 - 29500 |
|||||
| 542.00 |
551.50 |
9.50 |
<500 - 11000 |
|||||
| 556.00 |
559.50 |
3.50 |
<500 - 1200 |
|||||
| 562.50 |
564.00 |
1.50 |
<500 - 7200 |
|||||
| 652.50 |
655.00 |
2.50 |
<500 - 920 |
|||||
| 691.50 |
692.50 |
1.00 |
<500 - 4400 |
|||||
| 698.50 |
701.50 |
3.00 |
<500 - 2500 |
|||||
| 705.50 |
729.50 |
24.00 |
<500 - 5800 |
|||||
| 759.50 |
760.00 |
0.50 |
<500 - 1100 |
|||||
| 766.50 |
767.00 |
0.50 |
<500 - 1400 |
|||||
| AR-16-91c3 |
327 |
-70 |
879.00 |
132.20 |
344.00 |
344.50 |
0.50 |
<500 - 710 |
| 398.00 |
398.50 |
0.50 |
<500 - 900 |
|||||
| 407.00 |
407.50 |
0.50 |
<500 - 550 |
|||||
| 413.50 |
414.00 |
0.50 |
<500 - 750 |
|||||
| 419.50 |
420.00 |
0.50 |
<500 - 1300 |
|||||
| 423.00 |
441.50 |
18.50 |
<500 - 7100 |
|||||
| 444.50 |
446.00 |
1.50 |
<500 - 15000 |
|||||
| 449.50 |
451.50 |
2.00 |
<500 - 1900 |
|||||
| 455.00 |
455.50 |
0.50 |
<500 - 950 |
|||||
| 460.50 |
462.00 |
1.50 |
<500 - 1650 |
|||||
| 464.50 |
466.50 |
2.00 |
<500 - 2350 |
|||||
| 472.50 |
479.50 |
7.00 |
<500 - 2600 |
|||||
| 484.00 |
504.00 |
20.00 |
<500 - >61000 |
|||||
| 513.50 |
516.50 |
3.00 |
<500 - 1800 |
|||||
| 520.00 |
537.50 |
17.50 |
<500 - >61000 |
|||||
| 575.00 |
584.50 |
9.50 |
<500 - 1500 |
|||||
| 618.00 |
619.00 |
1.00 |
<500 - 620 |
|||||
| 625.50 |
647.00 |
21.50 |
<500 - 43000 |
|||||
| 652.50 |
654.50 |
2.00 |
<500 - 1300 |
|||||
| 657.00 |
663.00 |
6.00 |
<500 - 54000 |
|||||
| 676.50 |
677.50 |
1.00 |
<500 - 1450 |
|||||
| 709.00 |
710.00 |
1.00 |
<500 - 2300 |
|||||
| 714.00 |
720.50 |
6.50 |
<500 - 27000 |
|||||
| 724.00 |
725.00 |
1.00 |
<500 - 580 |
|||||
| AR-16-91c4 |
327 |
-70 |
855.00 |
132.20 |
400.50 |
402.50 |
2.00 |
<500 - 1000 |
| 406.00 |
408.50 |
2.50 |
<500 - 2150 |
|||||
| 412.00 |
412.50 |
0.50 |
<500 - 1650 |
|||||
| 419.50 |
421.00 |
1.50 |
<500 - 3800 |
|||||
| 425.50 |
434.50 |
9.00 |
<500 - 13000 |
|||||
| 437.50 |
439.00 |
1.50 |
<500 - 2100 |
|||||
| 441.50 |
443.50 |
2.00 |
<500 - 700 |
|||||
| 446.50 |
450.00 |
3.50 |
<500 - 1500 |
|||||
| 457.00 |
458.00 |
1.00 |
<500 - 900 |
|||||
| 465.50 |
479.00 |
13.50 |
<500 - 2800 |
|||||
| 499.50 |
516.00 |
16.50 |
<500 - 3900 |
|||||
| 518.50 |
541.00 |
22.50 |
<500 - >61000 |
|||||
| 732.50 |
734.00 |
1.50 |
<500 - 2400 |
|||||
| 551.50 |
557.00 |
5.50 |
<500 - >61000 |
|||||
| 573.50 |
575.50 |
2.00 |
<500 - 610 |
|||||
| 591.00 |
591.50 |
0.50 |
<500 - 610 |
|||||
| 604.00 |
609.00 |
5.00 |
<500 - 1600 |
|||||
| 623.50 |
627.00 |
3.50 |
<500 - 900 |
|||||
| 630.50 |
631.00 |
0.50 |
<500 - 900 |
|||||
| 636.00 |
678.50 |
42.50 |
<500 - 29000 |
|||||
| 685.50 |
691.50 |
6.00 |
<500 - 3300 |
|||||
| 696.00 |
725.00 |
29.00 |
<500 - 26000 |
|||||
| AR-16-92c1 |
147 |
-67 |
930.00 |
111.00 |
535.50 |
541.50 |
6.00 |
<500 - 9900 |
| 544.50 |
546.50 |
2.00 |
<500 - 5300 |
|||||
| 549.50 |
550.50 |
1.00 |
<500 - 32000 |
|||||
| 558.00 |
558.50 |
0.50 |
<500 - 690 |
|||||
| 566.00 |
624.25 |
58.25 |
<500 - 54000 |
|||||
| 627.80 |
647.00 |
19.20 |
<500 - >61000 |
|||||
| 650.00 |
654.00 |
4.00 |
<500 - 2900 |
|||||
| 679.00 |
682.50 |
3.50 |
<500 - 1000 |
|||||
| 707.50 |
708.50 |
1.00 |
<500 - 520 |
|||||
| 731.00 |
733.50 |
2.50 |
<500 - 1800 |
|||||
| 738.00 |
738.50 |
0.50 |
<500 - 770 |
|||||
| 745.00 |
745.50 |
0.50 |
<500 - 540 |
|||||
| 749.00 |
749.50 |
0.50 |
<500 - 510 |
|||||
| 762.50 |
763.00 |
0.50 |
<500 - 580 |
|||||
| 773.00 |
773.50 |
0.50 |
<500 - 510 |
|||||
| 781.00 |
781.50 |
0.50 |
<500 - 920 |
|||||
| 784.50 |
792.00 |
7.50 |
<500 - 3300 |
|||||
| 812.00 |
814.50 |
2.50 |
<500 - 5400 |
|||||
| 817.00 |
824.50 |
7.50 |
<500 - 17000 |
|||||
| 827.00 |
829.00 |
2.00 |
<500 - 1800 |
|||||
| 833.00 |
848.50 |
15.50 |
<500 - 3500 |
|||||
| 851.00 |
861.00 |
10.00 |
<500 - 12000 |
|||||
| 869.00 |
870.00 |
1.00 |
<500 - 20000 |
|||||
| 872.50 |
873.00 |
0.50 |
<500 - 2200 |
|||||
| 882.50 |
884.50 |
2.00 |
<500 - 17000 |
|||||
| 913.50 |
914.50 |
1.00 |
<500 - 850 |
|||||
| 922.50 |
923.00 |
0.50 |
<500 - 530 |
|||||
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. 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.
The mineral resource at the Arrow Deposit was completed by RPA Inc. and has an effective date of January 14, 2016. The mineral resource is reported at a cut-off grade of 0.25% U3O8. The cut-off is based on a long-term uranium price of USD$65/lb U3O8. The mineral resource is classified into the inferred category based on the CIM Definition Standards. For details regarding the geology and mineralization of the Arrow Deposit, the drilling, sampling and analytical procedures followed and the estimation methodology used in the preparation of the mineral resources, please refer to the Company's Amended and Restated News Release dated March 3, 2016, which is available under the Company's profile on the SEDAR website at www.sedar.com.
ARROW DEPOSIT DRILLING
AR-16-84c4
Hole AR-16-84c4 was a directional hole that departed pilot hole AR-16-84c3 at a depth of 291 m. It was designed as a scissor hole to verify the thickness of near vertically dipping mineralization in the A2 shear. The hole tested the A2 shear 12 m down-dip and northeast of AR-16-64c2 (11.15% U3O8 over 48.5 m in the A2 shear). Directional drilling was initiated at 510 m and the A2 shear was intersected at an inclination of -66°.
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 and A3 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 and A3 shears that was associated with semi-massive to massive veins, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 58.0 m of mineralization including 5.7 m of off-scale radioactivity (>10,000 - >61,000 cps) was intersected within a 201.0 m section (415.0 to 616.0 m). In the A2 shear, 42.0 m of composite mineralization including 5.7 m of off-scale radioactivity was intersected. In the A3 shear, 16.0 m of composite mineralization was intersected. The hole was terminated at 651.
AR-16-85c3
Hole AR-16-85c3 was a directional hole that departed pilot hole AR-16-85c2 at 279 m. It tested the A2 shear 36 m up-dip and southwest of AR-16-86c1 (13.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 50 m up-dip and southwest of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear). Directional drilling was initiated at 294 m. The A2 and A3 shears were intersected at hole inclinations of -64° and -63°, respectively.
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 through A4 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 through A4 shears that was associated with stringers, worm-rock style, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 66.5 m including 2.6 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 371.0 m section (419.5 to 790.5 m). In the A2 shear, 40.5 m of composite mineralization was intersected. In the A3 shear, 19.0 m of composite mineralization including 2.25 m of composite mineralization was intersected. In the A4 shear, 6.0 m of composite mineralization including 0.35 m of off-scale radioactivity was intersected. The hole was terminated at 840 m.
AR-16-85c4
Hole AR-16-85c4 was a directional hole that departed pilot hole AR-16-85c3 at 297 m. It tested the A2 shear 21 m up-dip and southwest of AR-16-86c1 (13.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 34 m down-dip and southwest of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear). Directional drilling was initiated at 342 m. The A2 and A3 shears were intersected at inclinations of -67° and -68°, respectively.
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 through A4 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 through A4 shears that was associated with stringers, worm-rock style, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 73.0 m including 0.6 m of off-scale radioactivity (>10,000 to 32,000 cps) was intersected within a 334.5 m section (426.5 to 761.0 m). In the A2 shear, 39.0 m of composite mineralization was intersected. In the A3 shear, 21.0 m of composite mineralization was intersected. In the A4 shear, 13.0 m of composite mineralization including 0.6 m of off-scale radioactivity was intersected. The hole was terminated at 822 m.
AR-16-86c2
Hole AR-16-86c2 was a directional hole that departed pilot hole AR-16-86c1 at 223 m. It tested the A2 shear 46 m up-dip and northeast of AR-16-86c1 (13.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 75 m up-dip and northeast of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear). Directional drilling was initiated at 294 m. The A2 and A3 shears were intersected at hole inclinations of -59° and -60°, respectively.
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 through A4 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 through A4 shears that was associated with stringers, worm-rock style, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 79.0 m including 1.2 m of off-scale radioactivity (>10,000 to 54,000 cps) was intersected within a 295.5 m section (402.0 to 697.5 m). In the A2 shear, 30.0 m of composite mineralization was intersected. In the A3 shear, 43.5 m of composite mineralization was intersected including 1.2 m of off-scale radioactivity. In the A4 shear, 5.5 m of composite mineralization was intersected. The hole was terminated at 750 m.
AR-16-91c1
Hole AR-16-91c1 was a directional hole collared from surface at an angled orientation (-70°) to the northwest (327° Azimuth). It was designed as a scissor hole to both verify the thickness of the near vertically dipping mineralization in the A2 shear and to test the A1 shear in the area of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending). Directional drilling was initiated at 216 m. The A1 and A2 shears were intersected at inclinations of -63° and -69°, respectively.
The hole intersected heavily bleached and desilicified Athabasca Group sandstones between 123.0 m and the unconformity at 132.2 m. Basement lithologies consisted largely of semipelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). Anomalous radioactivity was intersected in the A1 through A3 shears in association with stringer, disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 131.0 m including 3.8 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 370.5 m section (396.5 to 767.0 m). In the A1 shear, 30.5 m of composite mineralization was intersected. In the A2 shear, 92.0 m of composite mineralization including 3.85 m of off-scale radioactivity was intersected. In the A3 shear, 7.5 m of composite mineralization was intersected. The hole was terminated at 799 m.
AR-16-91c3
Hole AR-16-91c3 was a directional hole that departed pilot hole AR-16-91c2 at a depth of 219 m. It was designed as a scissor hole to both verify the thickness of the near vertically dipping mineralization in the A2 shear and to test the A1 shear in the area of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending). Directional drilling was initiated at 391 m. The A1 and A2 shears were both intersected at inclinations of -67°.
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 A1 through A3 shears). The hole successfully intersected highly anomalous radioactivity in the A1 through A3 shears that was associated with semi-massive to massive veins, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 125.5 m including 11.95 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 381.0 m section (344.0 to 725.0 m). In the A1 shear, 49.5 m of total composite mineralization including 5.0 m of off-scale radioactivity was intersected. In the A2 shear, 74.5 m of total composite mineralization including 6.95 m of off-scale radioactivity was intersected. In the A3 shear, a total composite mineralization of 1.5 m was intersected. The hole was terminated at 879 m.
AR-16-91c4
Hole AR-16-91c4 was a directional hole that departed pilot hole AR-16-91c3 at a depth of 228 m. It was designed as a scissor hole to both verify the thickness of the near vertically dipping mineralization in the A2 shear and to test the A1 shear in the area of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending). Directional drilling was initiated at 240 m. The A1 and A2 shears were intersected at hole inclinations of -69° and -68°, respectively.
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 A1 through A3 shears). The hole successfully intersected highly anomalous radioactivity in the A1 through A3 shears that was associated with semi-massive to massive veins, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 172.0 m including 13.75 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 323.5 m section (400.5 to 724.0 m). In the A1 shear, 87.0 m of total composite mineralization including 4.1 m of off-scale radioactivity was intersected. In the A2 shear, 78.5 m of total composite mineralization including 9.65 m of off-scale radioactivity was intersected. In the A3 shear, a total composite mineralization of 6.5 m was intersected. The hole was terminated at 855 m.
AR-16-92c1
Hole AR-16-92c1 was a directional hole collared from surface at an angled orientation (-67°) to the southeast (147° Azimuth). It tested the A2 shear 41 m down-dip of AR-16-76c3 (10.25% U3O8 over 74.0 m in the A2 shear) and the A3 shear 61 m up-dip and northeast of AR-15-54c2 (2.66% U3O8 over 14.5 m in the A3 shear). Directional drilling was initiated 210 m. The A2 and A3 shears were intersected at inclinations of -64° and -63°, respectively.
The hole intersected bleached and desilicified Athabasca Group sandstones between 91.0 m and the unconformity at 111.0 m. Basement lithologies consisted largely of semipelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A4 shears). Strongly anomalous radioactivity was intersected in the A2 through A4 shears in association with semi-massive to massive veins, stringers, disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 150.95 m including 10.3 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 387.5 m section (535.5 to 923.0 m). In the A2 shear, 86.95 m of composite mineralization including 9.5 m of off-scale mineralization was intersected. In the A3 shear, 12.5 m of composite mineralization was intersected. In the A4 shear, 50.0 m of composite mineralization including 0.8 m of off-scale mineralization was intersected. The hole was terminated at 930 m.
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. 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. Rook I also hosts the Bow Discovery which is 3.7 km along trend and northeast of Arrow and was made 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, the proposed use of proceeds 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 Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160713_C8903_PHOTO_EN_733442.jpg
Image with caption: "Figure 2: A1 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160713_C8903_PHOTO_EN_733444.jpg
Image with caption: "Figure 3: A2 Mineralized Shear Long Section (Close Up of A2 Sub-Zone) (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160713_C8903_PHOTO_EN_733446.jpg
For further information: 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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