NexGen Energy (NXE-V) Nov 3rd 2015 is pleased to report assay results from five angled holes from our highly successful summer 2015 drilling program on our 100% owned Rook I property, Athabasca Basin, Saskatchewan.
Assay results from AR-15-54c1 which was drilled 87 m up-dip and southwest of AR-15-44b (56.5 m at 11.55% U3O8) have again confirmed the presence of dense accumulations of massive pitchblende in the higher grade A2 sub-zone. This substantial zone of uranium mineralization is currently defined by six holes over a strike length of at least 162 m. Assay results from two of these six holes remain pending. Also in the A2 shear, assays from AR-15-53c2 returned significant mineralization 91 m down-dip from AR-15-44b.
Additionally, within the A3 shear, holes AR-15-56c1 and AR-15-51 both returned widespread mineralization from an area that remains wide open in the southwestern portion of the A3 high-grade shear. Holes AR-15-56c1 and -51 were drilled 225 m and 196 m down-dip and to the southwest, respectively from AR-15-48c1 (24m at 5.43% U3O8). These assay results are located in the zone where AR-15-61c2 was drilled and returned the strongest radioactivity results recorded in the A3 shear to date (See News Release dated October 29th, 2015).
Drill hole locations, and the A2 and A3 long sections are shown in Figures 1 to 4, and assay results are shown in Table 1.
Highlights:
A2 Shear
AR-15-54c1 (87 m up-dip and southwest from AR-15-44b) intersected 27.5 m at 10.09% U3O8 (492.0 to 519.5 m) including 12.0 m at 20.01% U3O8 (500.5 to 512.5 m) and 2.5 m at 51.16% U3O8 (510.0 to 512.5 m) in the higher grade A2 sub-zone;
AR-15-53c2 (91 m down-dip from AR-15-44b) intersected 35.0 m at 4.88% U3O8 (576.0 to 611.0 m) including 6.0 m at 20.17% U3O8 (591.5 to 597.5 m) in the A2 shear.
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| AR-15-59c21
| AR-15-54c1
| AR-15-58c12
| AR-15-621
| AR-15-44b2
| AR-15-49c22
| Total composite mineralization =
| 75.50 m
| 42.00 m
| 86.00 m
| 143.00 m
| 135.60 m
| 73.50 m
| Total Off-scale (>10,000 to 29,999 cps)3 =
| 11.40 m
| 5.90 m
| 14.30 m
| 17.75 m
| 30.25 m
| 15.70 m
| Total Off-scale (>30,000 to 60,999 cps)3 =
| 4.50 m
| 3.00 m
| 3.85 m
| 10.60 m
| 7.75 m
| 5.20 m
| Total Off-scale (>61,000 cps)3 =
| 1.00 m
| 0.5 m
| 2.00 m
| 2.00 m
| 1.50 m
| 2.15 m
|
| Continuous GT (Grade x Thickness) =
| Assays
Pending
| 278
| 200 and 345
| Assays
Pending
| 655
| 605
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| 1 radioactivity results previously released
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| 2 radioactivity and assays results previously released
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| 3 minimum radioactivity using RS-125 gamma spectrometer
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A3 Shear
AR-15-56c1 (225 m down-dip and to the southwest from AR-15-48c1) intersected 6.5 m at 12.06% U3O8 (721.5 to 728.0 m) and an additional 28.0 m at 1.14% U3O8 (770.0 to 798.0 m) in the A3 shear;
AR-15-51 (196 m down-dip and to the southwest from AR-15-48c1) intersected 25.0 m at 1.20% U3O8 (670.0 to 695.0 m) in the A3 shear;
Arrow, Activities & Financial
The land-based and basement hosted Arrow zone currently covers an area of 645 m by 235 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in all directions and at depth.
Preparations are well underway for a substantial winter 2016 drill program set to commence in early January 2016.
The Company remains on track for release of the maiden NI 43-101 resource estimate on the Arrow zone due in the first half of 2016.
The Company has cash on hand of approximately $18M.
Garrett Ainsworth, Vice-President, Exploration and Development, commented "These high grade assay results from hole AR-15-54c1 are characteristic of the higher grade A2 sub-zone, which is thus far delineated across a 162 m strike length from northeast to southwest by holes AR-15-49c2, -44b, -62, -58c1, -54c1, and -59c2. All of these holes in the higher grade A2 sub-zone demonstrate strong continuity and grades that are constantly in excess of 10% U3O8 over wide intervals. In addition, the A3 has produced significant assay results with AR-15-51 and -56c1 producing strong mineralization across wide intervals."
Leigh Curyer, Chief Executive Officer commented, "These assay results continue to demonstrate the robustness of the higher grade A2 sub zone and now, the A3 shear is regularly producing results that rival the A2 high grade core. We look forward to receiving the remaining 22 assays from the summer program which will include strong holes based on previously reported radioactivity. All these assay results will contribute to the resource estimate scheduled for the first half of 2016. Planning for an expanded winter 2016 campaign is already well underway which will continue to test the currently defined extents of Arrow together with high-priority targets along the conductor corridor to the southwest, northeast towards Bow, and on the Derkson corridor."
Table 2: Arrow Zone Assay Results
Drill Hole
| Athabasca Group -
Basement
Unconformity Depth
(m)
| SRC Geoanalytical Results
| Hole ID
| Azimuth
| Dip
| Total Depth (m)
|
| From (m)
| To (m)
| Interval
(m)
| U3O8 (wt%)
| AR-15-51
| 140
| -75
| 1014.00
| 104.10
| 483.00
| 486.00
| 3.00
| 0.02
|
|
|
|
|
| 513.00
| 514.00
| 1.00
| 0.19
|
|
|
|
|
| 522.00
| 526.00
| 4.00
| 0.04
|
|
|
|
|
| 529.00
| 534.00
| 5.00
| 0.05
|
|
|
|
|
| 539.00
| 539.50
| 0.50
| 0.03
|
|
|
|
|
| 544.00
| 548.50
| 4.50
| 0.53
|
|
|
|
|
| 557.50
| 564.50
| 7.00
| 0.22
|
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|
|
| 567.50
| 569.00
| 1.50
| 0.36
|
|
|
|
|
| 571.50
| 572.00
| 0.50
| 0.01
|
|
|
|
|
| 576.50
| 584.00
| 7.50
| 0.46
|
|
|
|
|
| 585.50
| 618.00
| 32.50
| 0.25
|
|
|
|
|
| 619.50
| 621.00
| 1.50
| 0.05
|
|
|
|
|
| 624.50
| 633.50
| 9.00
| 0.61
|
|
|
|
|
| 636.00
| 638.50
| 2.50
| 0.08
|
|
|
|
|
| 640.50
| 641.50
| 1.00
| 0.03
|
|
|
|
|
| 645.00
| 646.50
| 1.50
| 0.23
|
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|
|
| 649.00
| 650.00
| 1.00
| 0.25
|
|
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|
|
| 652.00
| 664.00
| 12.00
| 0.52
|
|
|
|
|
| 670.00
| 695.00
| 25.00
| 1.20
|
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|
|
| 698.00
| 711.50
| 13.50
| 0.45
|
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|
| 722.00
| 727.50
| 5.50
| 0.26
|
|
|
|
|
| 733.00
| 734.00
| 1.00
| 1.04
|
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|
|
|
| 736.50
| 760.50
| 24.00
| 0.20
|
|
|
|
|
| 764.50
| 766.50
| 2.00
| 0.79
|
|
|
|
|
| 769.00
| 770.00
| 1.00
| 0.06
|
|
|
|
|
| 796.50
| 797.00
| 0.50
| 0.03
|
|
|
|
|
| 800.00
| 801.00
| 1.00
| 0.02
|
|
|
|
|
| 810.50
| 816.50
| 6.00
| 0.06
|
|
|
|
|
| 819.00
| 820.00
| 1.00
| 0.36
|
|
|
|
|
| 839.50
| 842.50
| 3.00
| 0.08
|
|
|
|
|
| 857.00
| 857.50
| 0.50
| 0.93
|
|
|
|
|
| 869.00
| 872.00
| 3.00
| 0.03
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|
| 885.50
| 886.00
| 0.50
| 0.03
|
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|
|
|
| 888.50
| 889.00
| 0.50
| 0.02
|
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|
|
| 893.00
| 895.00
| 2.00
| 0.09
|
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|
|
|
| 898.50
| 899.00
| 0.50
| 0.06
|
|
|
|
|
| 904.50
| 905.00
| 0.50
| 0.12
|
|
|
|
|
| 908.00
| 910.50
| 2.50
| 0.03
|
|
|
|
|
| 917.00
| 917.50
| 0.50
| 0.07
|
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|
|
| 975.00
| 976.00
| 1.00
| 0.14
| AR-15-53c2
| 141
| -77
| 684.00
| 114.00
| 439.50
| 440.00
| 0.50
| 0.09
|
|
|
|
|
| 441.50
| 442.00
| 0.50
| 0.08
|
|
|
|
|
| 548.50
| 549.50
| 1.00
| 0.03
|
|
|
|
|
| 562.50
| 568.50
| 6.00
| 0.09
|
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|
|
|
| 571.50
| 573.50
| 2.00
| 0.06
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|
|
| 576.00
| 611.00
| 35.00
| 4.88
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|
|
| including
| 591.50
| 597.50
| 6.00
| 20.17
|
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|
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| 613.50
| 628.00
| 14.50
| 0.09
|
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|
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| 641.50
| 655.50
| 14.00
| 0.23
| AR-15-54c1
| 140
| -76
| 816.00
| 109.00
| 437.50
| 438.00
| 0.50
| 0.02
|
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|
|
| 469.50
| 484.50
| 15.00
| 0.67
|
|
|
|
|
| 488.50
| 528.00
| 39.50
| 7.03
|
|
|
|
| including
| 492.00
| 519.50
| 27.50
| 10.09
|
|
|
|
| including
| 500.50
| 512.50
| 12.00
| 20.01
|
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|
|
| including
| 510.00
| 512.50
| 2.50
| 51.16
|
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|
|
|
| 608.00
| 640.00
| 32.00
| 0.07
|
|
|
|
|
| 685.50
| 688.00
| 2.50
| 0.02
|
|
|
|
|
| 692.00
| 692.50
| 0.50
| 0.27
|
|
|
|
|
| 701.50
| 702.00
| 0.50
| 0.05
|
|
|
|
|
| 704.00
| 705.50
| 1.50
| 0.02
|
|
|
|
|
| 707.00
| 707.50
| 0.50
| 0.29
|
|
|
|
|
| 737.50
| 740.00
| 2.50
| 2.01
| AR-15-55
| 140
| -75
| 924.00
| 103.60
| 545.50
| 552.00
| 6.50
| 0.06
|
|
|
|
|
| 554.50
| 557.50
| 3.00
| 0.02
|
|
|
|
|
| 583.00
| 584.50
| 1.50
| 1.13
|
|
|
|
|
| 605.00
| 611.50
| 6.50
| 0.12
|
|
|
|
|
| 670.50
| 671.00
| 0.50
| 0.10
| AR-15-56c1
| 139
| -76.5
| 996.00
| 110.40
| 550.00
| 569.00
| 19.00
| 0.08
|
|
|
|
|
| 578.50
| 588.00
| 9.50
| 0.17
|
|
|
|
|
| 594.00
| 600.00
| 6.00
| 0.79
|
|
|
|
|
| 602.50
| 605.00
| 2.50
| 0.10
|
|
|
|
|
| 607.50
| 608.00
| 0.50
| 0.01
|
|
|
|
|
| 618.50
| 619.50
| 1.00
| 0.04
|
|
|
|
|
| 624.50
| 641.50
| 17.00
| 0.14
|
|
|
|
|
| 649.50
| 660.50
| 11.00
| 4.20
|
|
|
|
|
| 663.50
| 664.50
| 1.00
| 0.15
|
|
|
|
|
| 667.50
| 668.50
| 1.00
| 0.41
|
|
|
|
|
| 685.00
| 686.50
| 1.50
| 0.04
|
|
|
|
|
| 721.50
| 728.00
| 6.50
| 12.06
|
|
|
|
|
| 748.50
| 752.00
| 3.50
| 0.06
|
|
|
|
|
| 755.00
| 756.00
| 1.00
| 0.10
|
|
|
|
|
| 760.50
| 761.50
| 1.00
| 0.05
|
|
|
|
|
| 764.00
| 765.00
| 1.00
| 0.04
|
|
|
|
|
| 770.00
| 798.00
| 28.00
| 1.14
|
|
|
|
|
| 801.50
| 807.50
| 6.00
| 0.04
|
|
|
|
|
| 810.00
| 811.00
| 1.00
| 0.07
|
|
|
|
|
| 846.00
| 861.50
| 15.50
| 0.62
|
|
|
|
|
| 864.50
| 879.00
| 14.50
| 0.14
|
|
|
|
|
| 886.00
| 889.50
| 3.50
| 0.07
|
|
|
|
|
| 895.00
| 900.50
| 5.50
| 0.49
|
|
|
|
|
| 909.50
| 910.50
| 1.00
| 0.12
|
|
|
|
|
| 935.00
| 935.50
| 0.50
| 0.06
|
Composite parameters:
| Minimum thickness 0.5 m downhole
Cutoff grade 0.01% U3O8
Maximum internal dilution 2.00 m downhole
U3O8 analyzed by ICP-OES at SRC Laboratories, Saskatoon, Saskatchewan
All depths and intervals are meters downhole, true thicknesses are yet to be determined
|
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 partial and total digestions, ICP-OES for major and minor elements on a total digestion, and fusion solution of boron by ICP-OES. Mineralizaed samples were analyzed for U3O8 by ICP-OES and gold by fire assay.
All assays batches reported herein are subjected to and have passed rigorous internal QA/QC protocols that include, but are not limited to, the blind insertion of standard reference materials, blank materials and field duplicates into the sample stream at both random and systematic intervals.
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 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
lcuryer@nexgenenergy.ca
www.nexgenenergy.ca
SOURCE NexGen Energy Ltd.
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