NexGen Energy (NXE-V) March 8, 2016 - NR
NexGen Energy is pleased to report assay results for five angled holes from our winter 2016 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Hole AR-16-63c2 has intersected 42.0 m at 15.20% U3O8 and an additional 46.5 m at 12.99% U3O8 in the higher grade A2 sub-zone (the "Sub-Zone"). When including the 3.5 m of un-mineralized core separating the two mineralized intervals, the hole returned 92.0 m at 13.51% U3O8. This represents a grade x thickness ("GT") of 1,243.
In addition to AR-16-63c2, holes AR-16-63c1, -64c1 and -64c2 intersected continuous GT's in the Sub-Zone of 203, 338 and 541, respectively. These four holes have significantly expanded the current A2 high grade domain.
The A2 high grade domain is quantified up to the end of the summer 2015 drill program with a recently completed National Instrument 43-101 compliant Inferred Mineral Resource estimate of 120.5 M lbs of U3O8 contained in 0.41 M tonnes grading 13.26% U3O8, which is part of the total Arrow Deposit Inferred Mineral Resource estimate of 201.9 M lbs of U3O8 contained in 3.48 M tonnes grading 2.63% U3O8 (see news release dated March 3, 2016). None of the holes announced in this news release were included in the resource estimate.
Highlights:
A2 Sub-Zone
AR-16-63c2 (19 m up-dip and to the southwest from AR-15-44b) intersected 42.0 m at 15.20% U3O8 (458.0 to 500.0 m) including 7.0 m at 52.91% U3O8 (488.5 to 495.5 m) and an additional 46.5 m at 12.99% U3O8 (503.5 to 550.0 m) including 4.0 m at 53.48% U3O8 (530.0 to 534.0 m).
AR-16-64c2 (30 m up-dip and to the northeast from AR-15-44b) intersected 48.5 m at 11.15% U3O8 (491.0 to 539.5 m) including 3.0 m at 52.35% U3O8 (498.5 to 501.5 m).
AR-16-64c1 (21 m up-dip and to the southwest from AR-15-49c2) intersected 48.5 m at 6.97% U3O8 (433.5 to 482.0 m) including 3.0 m at 52.13% U3O8 (469.0 to 472.0).
AR-16-63c1 (7 m up-dip and to the northeast from AR-15-58c1) intersected 45.0 m at 4.51% U3O8 (432.5 to 477.5 m) including 8.0 m at 20.15% U3O8 (464.5 to 472.5 m).
Table 1: Higher Grade A2 Sub-Zone Angled Drill Holes
2015
| AR-15-59c22
| AR-15-54c12
| AR-15-58c12
| AR-15-622
| AR-15-44b2
| AR-15-49c22
| AR-15-57c32
| Total composite mineralization =
| 75.50 m
| 42.00 m
| 86.00 m
| 143.00 m
| 135.60 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
| 17.75 m
| 30.25 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
| 10.60 m
| 7.75 m
| 5.20 m
| 2.50 m
| Total Off-scale (>61,000 cps)3 =
| 1.00 m
| 0.50 m
| 2.00 m
| 2.00 m
| 1.50 m
| 2.15 m
| 1.80 m
| Continuous GT (Grade x Thickness) =
| 371
| 277
| 200 and 345
| 787
| 655
| 605
| 319
|
2016
| AR-16-63c11
| AR-16-63c31
| AR-16-63c21
| AR-16-64c31
| AR-16-64c21
| AR-16-64c11
| Total composite mineralization =
| 55.50 m
| 147.00 m
| 138.00 m
| 102.00 m
| 76.00 m
| 74.0 m
| Total Off-scale (>10,000 to 29,999 cps)3 =
| 6.85 m
| 22.10 m
| 17.10 m
| 18.75 m
| 15.95 m
| 10.30 m
| Total Off-scale (>30,000 to 60,999 cps)3 =
| 0.50 m
| 3.00 m
| 9.90 m
| 2.50 m
| 4.70 m
| 3.70 m
| Total Off-scale (>61,000 cps)3 =
| 0.00 m
| 0.50 m
| 13.85 m
| 0.00 m
| 5.50 m
| 0.00 m
| Continuous GT (Grade x Thickness) =
| 203
| Assays
Pending
| 638 and 604
| Assays
Pending
| 541
| 338
|
| 1 radioactivity results previously released
| 2 radioactivity and assays results previously released
| 3 minimum radioactivity using RS-120 gamma spectrometer
|
Arrow, Activities & Financial
The land-based and basement hosted Arrow Deposit currently covers an area of 670 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.
The winter 2016 program comprising 30,000 m of drilling continues with six rigs.
The Company remains on track for release of an updated NI 43-101 resource estimate on the Arrow Deposit due in the second half of 2016
The Company has cash on hand of approximately $31M.
A three-dimensional view of the A2 Sub-Zone, drill hole locations and the A2 and A3 long sections are shown in figures 1 to 5. Table 2 shows assay results.
Garrett Ainsworth, Vice-President, Exploration and Development, commented "The commencement of infill drilling of the higher grade A2 sub-zone has immediately returned five continuous GT's ranging from 203 to 638 in four holes. These high grade assay intervals from holes AR-16-63c2 and -64c2 extend outside the current A2 high grade shell, on which the maiden NI43-101 inferred mineral resource was estimated as it only incorporates up to hole AR-15-62. Denser spaced drilling of the A2 sub-zone continues."
Leigh Curyer, Chief Executive Officer commented "This winter 2016 program at such an early stage is clearly becoming our most successful to date. The development of Arrow continues rapidly."
Table 2: Arrow Zone Assay Results
| Drill Hole
| Athabasca
Group -
Basement
Unconformity
Depth (m)
| SRC Geoanalytical Results
| Grade
(U3O8%) x
Thickness
(m) (GT)
| Hole ID
| Azimuth
| Dip
| Total
Depth
(m)
| From
(m)
| To (m)
| Interval
(m)
| U3O8 (wt%)
| AR-16-59c5
| 153
| -76
| 915.00
| 102.20
| 543.00
| 567.00
| 24.00
| 0.29
| 6.96
|
|
|
|
|
| 602.00
| 604.50
| 2.50
| 0.06
| 0.15
|
|
|
|
|
| 607.00
| 611.00
| 4.00
| 0.07
| 0.28
|
|
|
|
|
| 631.00
| 632.00
| 1.00
| 0.29
| 0.29
|
|
|
|
|
| 723.50
| 724.00
| 0.50
| 0.06
| 0.03
|
|
|
|
|
| 779.50
| 780.50
| 1.00
| 0.10
| 0.10
|
|
|
|
|
| 787.50
| 792.00
| 4.50
| 0.11
| 0.50
|
|
|
|
|
| 798.50
| 815.50
| 17.00
| 1.10
| 18.70
|
|
|
|
|
| 821.00
| 839.00
| 18.00
| 0.69
| 12.42
|
|
|
|
|
| 842.50
| 843.00
| 0.50
| 0.04
| 0.02
|
|
|
|
|
| 866.00
| 867.00
| 1.00
| 0.09
| 0.09
|
|
|
|
|
| 899.00
| 900.00
| 1.00
| 0.08
| 0.08
| AR-16-63c1
| 156
| -74
| 592.00
| 109.10
| 432.50
| 477.50
| 45.00
| 4.51
| 202.95
|
|
|
|
| including
| 464.50
| 472.50
| 8.00
| 20.15
|
|
|
|
|
| 493.00
| 499.50
| 6.50
| 0.03
| 0.20
|
|
|
|
|
| 505.00
| 517.00
| 12.00
| 0.02
| 0.24
|
|
|
|
|
| 522.00
| 527.00
| 5.00
| 0.03
| 0.15
|
|
|
|
|
| 538.00
| 538.50
| 0.50
| 0.02
| 0.01
|
|
|
|
|
| 545.00
| 545.50
| 0.50
| 0.01
| 0.01
| AR-16-63c2
| 156
| -74
| 657.00
| 109.10
| 417.00
| 419.00
| 2.00
| 0.03
| 0.06
|
|
|
|
|
| 438.00
| 452.00
| 14.00
| 0.82
| 11.48
|
|
|
|
|
| 458.00
| 500.00
| 42.00
| 15.20
| 638.40
|
|
|
|
| including
| 469.00
| 500.00
| 31.00
| 20.09
|
|
|
|
| including
| 482.00
| 486.50
| 4.50
| 51.01
|
|
|
|
| including
| 488.50
| 495.50
| 7.00
| 52.91
|
|
|
|
|
| 503.50
| 550.00
| 46.50
| 12.99
| 604.04
|
|
|
|
| including
| 511.50
| 538.50
| 27.00
| 19.98
|
|
|
|
| including
| 530.00
| 534.00
| 4.00
| 53.48
|
|
|
|
|
| 558.50
| 569.00
| 10.50
| 2.32
| 24.36
|
|
|
|
|
| 571.50
| 583.50
| 12.00
| 4.06
| 48.72
|
|
|
|
|
| 587.50
| 611.00
| 23.50
| 0.05
| 1.18
|
|
|
|
|
| 617.00
| 618.00
| 1.00
| 0.01
| 0.01
|
|
|
|
|
| 621.50
| 649.00
| 27.50
| 0.04
| 1.10
|
|
|
|
|
| 656.00
| 657.00
| 1.00
| 0.01
| 0.01
| AR-16-64c1
| 154
| -73
| 729.00
| 108.00
| 433.50
| 482.00
| 48.50
| 6.97
| 338.05
|
|
|
|
| including
| 467.00
| 479.50
| 12.50
| 20.42
|
|
|
|
| including
| 469.00
| 472.00
| 3.00
| 52.13
|
|
|
|
|
| 485.00
| 490.00
| 5.00
| 0.23
| 1.15
|
|
|
|
|
| 496.50
| 513.50
| 17.00
| 0.02
| 0.34
|
|
|
|
|
| 528.50
| 534.50
| 6.00
| 0.10
| 0.60
|
|
|
|
|
| 584.50
| 590.50
| 6.00
| 0.15
| 0.90
|
|
|
|
|
| 598.00
| 600.00
| 2.00
| 1.97
| 3.94
|
|
|
|
|
| 602.00
| 602.50
| 0.50
| 0.36
| 0.18
|
|
|
|
|
| 610.50
| 616.50
| 6.00
| 0.09
| 0.54
|
|
|
|
|
| 622.50
| 630.50
| 8.00
| 0.55
| 4.40
|
|
|
|
|
| 633.00
| 639.00
| 6.00
| 1.79
| 10.74
|
|
|
|
|
| 642.00
| 653.00
| 11.00
| 1.87
| 20.57
|
|
|
|
|
| 666.50
| 669.00
| 2.50
| 0.65
| 1.63
|
|
|
|
|
| 688.00
| 688.50
| 0.50
| 1.74
| 0.87
|
|
|
|
|
| 691.50
| 695.50
| 4.00
| 1.73
| 6.92
| AR-16-64c2
| 154
| -73
| 591.00
| 108.00
| 414.00
| 414.50
| 0.50
| 0.04
| 0.02
|
|
|
|
|
| 452.50
| 456.00
| 3.50
| 0.46
| 1.61
|
|
|
|
|
| 460.00
| 484.50
| 24.50
| 2.65
| 64.93
|
|
|
|
|
| 491.00
| 539.50
| 48.50
| 11.15
| 540.78
|
|
|
|
| including
| 497.00
| 523.50
| 26.50
| 20.13
|
|
|
|
| including
| 498.50
| 501.50
| 3.00
| 52.35
|
|
|
|
|
| 557.00
| 558.50
| 1.50
| 0.07
| 0.11
|
|
|
|
|
| 572.00
| 572.50
| 0.50
| 0.04
| 0.02
|
|
|
|
|
| 576.00
| 579.50
| 3.50
| 0.05
| 0.18
|
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. Mineralized samples were analyzed for U3O8 by ICP-OES and selected samples for gold by fire assay.
All assay 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.
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. Mr. Ainsworth has verified that the results are accurate by reviewing the official assay certificates provided to the Company and monitoring all of the data collection protocols.
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.
SOURCE NexGen Energy Ltd.
Image with caption: "Figure 1: Three-dimensional view of the Arrow Zone high-grade domain (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160308_C2613_PHOTO_EN_637445.jpg
Image with caption: "Figure 2: Arrow Zone Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160308_C2613_PHOTO_EN_637447.jpg
Image with caption: "Figure 3: A2 Mineralized Shear Longsection (Close Up of Sub-Zone) (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160308_C2613_PHOTO_EN_637449.jpg
Image with caption: "Figure 4: A2 Mineralized Shear Longsection (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160308_C2613_PHOTO_EN_637451.jpg
Image with caption: "Figure 5: A3 Mineralized Shear Longsection (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160308_C2613_PHOTO_EN_637453.jpg
Leigh Curyer, Chief Executive Officer,
NexGen Energy Ltd.,
+1 604 428 4112,
lcuryer@nexgenenergy.ca ,
www.nexgenenergy.ca ;
Travis McPherson, Corporate Development Manager,
NexGen Energy Ltd.,
+1 604 428 4112,
tmcpherson@nexgenenergy.ca ,
nexgenenergy.ca |
