NexGen Energy (NXE-V) Hole AR-16-76c3 Returns 50.0 m at 15.05% U3O8 including 11.5 m at 49.53% U3O8
June 6, '16
NexGen Energy is pleased to report assay results for four angled holes from our highly successful winter 2016 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Drilling in the A2 shear at the Arrow Deposit continues to deliver strong assay results. Drill hole AR-16-76c3 which was drilled 58 m up-dip and southwest from hole AR-15-44b (56.5 m at 11.55% U3O8 – see News Release dated June 15, 2015) has intersected 74.0 m at 10.28% U3O8 in the higher grade A2 sub-zone (the "Sub-Zone"). This intercept, which represents a continuous grade x thickness ("GT") of 761 also includes 50.0 m at 15.05% U3O8, 11.5 m at 49.53% U3O8 and 0.5 m at 80.00% U3O8. Also in the Sub-Zone, drill hole AR-16-78c1 intersected 37.5 m at 12.94% U3O8 and was drilled 69 m up-dip and northeast of hole AR-15-44b.
The Sub-Zone is defined by extensive intersections of dense accumulations of massive to semi-massive pitchblende, and is currently outlined by 22 drill holes. Assay results from four drill holes in the Sub-Zone remain pending.
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 =
| 75.5m
| 42.0m
| 86.0m
| 143.0m
| 135.6m
| 73.5m
| 62.5m
| Total Off-scale (>10,000 to 29,999 cps)3 =
| 11.4m
| 5.9m
| 14.3m
| 17.8m
| 30.3m
| 15.7m
| 4.4m
| Total Off-scale (>30,000 to 60,999 cps)3 =
| 4.5m
| 3.0m
| 3.9m
| 10.6m
| 7.8m
| 5.2m
| 2.5m
| Total Off-scale (>61,000 cps)3 =
| 1.0m
| 0.5m
| 2.0m
| 2.0m
| 1.5m
| 2.2m
| 1.8m
| Continuous GT (Grade x Thickness) =
| 371
| 277
| 200 and
345
| 787
| 655
| 605
| 319
|
2016
| AR-16-
81c31
| AR-16-
76c41
| AR-16-
76c12
| AR-16-
76c31
| AR-16-
63c12
| AR-16-
63c32
| AR-16-
86c11
| AR-16-
74c12
| AR-16-
63c22
| AR-16-
64c32
| AR-16-
64c22
| AR-16-
64c12
| AR-16-
72c22
| AR-16-
78c11
| AR-16-
78c41
| Total composite mineralization =
| 48.5m
| 105.7m
| 73.5m
| 67.5m
| 55.5m
| 147.0m
| 90.0m
| 88.0m
| 138.0m
| 102.0m
| 76.0m
| 74.0m
| 93.0m
| 64.0m
| 120.5m
| Total Off-scale (>10,000 to 29,999 cps)3 =
| 5.2m
| 19.9m
| 14.8m
| 14.9m
| 6.9m
| 22.1m
| 8.8m
| 21.2m
| 17.1m
| 18.8m
| 16.0m
| 10.3m
| 7.0m
| 11.6m
| 25.8m
| Total Off-scale (>30,000 to 60,999 cps)3 =
| 4.0m
| 1.0m
| 2.8m
| 5.0m
| 0.5m
| 3.0m
| 2.3m
| 1.2m
| 9.9m
| 2.5m
| 4.7m
| 3.7m
| 0.5m
| 3.0m
| 6.2m
| Total Off-scale (>61,000 cps)3 =
| 2.5m
| 0.0m
| 5.3m
| 4.5m
| 0.0m
| 0.5m
| 2.0m
| 0.0m
| 13.9m
| 0.0m
| 5.5m
| 0.0m
| 1.7m
| 2.5m
| 5.5m
| Continuous GT (Grade x Thickness) =
| Assays
Pending
| Assays
Pending
| 762
| 761
| 203
| 274
and
124
| Assays
Pending
| 160
and
35
| 638
and
604
| 172
and
92
| 541
| 338
| 156
and
45
| 485
| Assays
Pending
|
1 radioactivity results previously released
| 2 radioactivity and assays results previously released
| 3 minimum radioactivity using RS-120 gamma spectrometer
|
|
Highlights:
A2 Sub-Zone
AR-16-76c3 (58 m up-dip and southwest from AR-15-44b) intersected 74.0 m at 10.28% U3O8 (470.5 to 544.5 m) including 50.0 m at 15.05% U3O8 (494.5 to 544.5 m) and 0.5 m at 80.00% U3O8 (515.5 to 516.0 m).
AR-16-78c1 (69 m up-dip and northeast of AR-15-44b) intersected 37.5 m at 12.94% U3O8 (443.0 to 480.5 m) including 17.0 m at 20.25% U3O8 (443.5 to 460.5 m) and 4.0 m at 59.38% U3O8 (451.5 to 455.5 m).
Arrow, Activities & Financial
The land-based and basement hosted Arrow Deposit currently covers an area of 865 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 spring 2016 program comprising 7,500 m of drilling continues with three drill rigs active. Concurrently, preparations are underway for a large summer drill program to begin in mid-June.
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 will have cash on hand of $100M upon closing of the previously announced financing with CEF Holdings.
A three-dimensional view of the A2 Sub-Zone, drill hole locations and a close-up of the A2 long section are shown in Figures 1 to 3. Assay results are presented in Table 2.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "The A2 high grade domain is demonstrating strong grade and thickness continuity of massive to semi-massive uranium mineralization, evident with these two highly ranked GT's at Arrow a considerable distance apart. Delineation drilling at Arrow continues to impress."
Leigh Curyer, Chief Executive Officer, commented: "The drill assay results reported herein continue to exceed our expectations. The spring program is progressing well with currently four assays pending in the Sub-Zone and 23 in total at Arrow. Drilling for the balance of spring will continue to focus at Arrow and at the new 180m southwest extension where early indications have been very encouraging. Preparations for the summer program are well advanced which will focus on continued Arrow delineation and extensions, the 180m southwest extension as well as high priority regional targets along the Patterson Corridor on Rook I."
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-16-74c3
| 131
| -69
| 714.00
| 113.80
| 449.50
| 454.50
| 5.00
| 0.03
| 0.15
|
|
|
|
|
| 515.50
| 516.00
| 0.50
| 0.04
| 0.02
|
|
|
|
|
| 521.50
| 523.00
| 1.50
| 0.04
| 0.06
|
|
|
|
|
| 552.00
| 554.00
| 2.00
| 0.23
| 0.46
|
|
|
|
|
| 565.50
| 566.50
| 1.00
| 0.20
| 0.20
|
|
|
|
|
| 569.50
| 571.50
| 2.00
| 0.91
| 1.82
|
|
|
|
|
| 574.00
| 580.50
| 6.50
| 1.85
| 12.03
|
|
|
|
|
| 587.50
| 590.00
| 2.50
| 0.30
| 0.75
|
|
|
|
|
| 592.50
| 606.00
| 13.50
| 0.63
| 8.51
|
|
|
|
|
| 613.50
| 620.50
| 7.00
| 0.02
| 0.14
|
|
|
|
|
| 633.50
| 634.50
| 1.00
| 0.06
| 0.06
|
|
|
|
|
| 653.00
| 653.50
| 0.50
| 0.02
| 0.01
| AR-16-76c2
| 140
| -70
| 609.00
| 114.95
| 434.50
| 437.00
| 2.50
| 0.30
| 0.75
|
|
|
|
|
| 472.50
| 475.50
| 3.00
| 0.23
| 0.68
|
|
|
|
|
| 479.00
| 481.00
| 2.00
| 0.02
| 0.03
|
|
|
|
|
| 483.50
| 506.00
| 22.50
| 0.38
| 8.48
|
|
|
|
|
| 510.50
| 541.00
| 30.50
| 2.70
| 82.22
|
|
|
|
|
| 587.00
| 596.00
| 9.00
| 0.12
| 1.08
|
|
|
|
|
| 598.50
| 603.00
| 4.50
| 0.05
| 0.22
| AR-16-76c3
| 140
| -70
| 606.00
| 114.95
| 470.50
| 544.50
| 74.00
| 10.28
| 760.72
|
|
|
|
| incl.
| 494.50
| 544.50
| 50.00
| 15.05
|
|
|
|
| incl.
| 510.50
| 525.50
| 15.00
| 41.26
|
|
|
|
| incl.
| 514.00
| 518.00
| 4.00
| 67.05
|
|
|
|
| incl.
| 514.00
| 525.50
| 11.50
| 49.53
|
|
|
|
| incl.
| 515.50
| 516.00
| 0.50
| 80.00
|
|
|
|
|
| 586.00
| 587.50
| 1.50
| 0.03
| 0.05
|
|
|
|
|
| 594.50
| 595.50
| 1.00
| 0.04
| 0.04
| AR-16-78c1
| 138
| -68
| 564.00
| 110.95
| 396.00
| 440.50
| 44.50
| 0.14
| 6.23
|
|
|
|
|
| 443.00
| 480.50
| 37.50
| 12.94
| 485.25
|
|
|
|
| incl.
| 443.50
| 460.50
| 17.00
| 20.25
|
|
|
|
| incl.
| 451.50
| 455.50
| 4.00
| 59.38
|
|
|
|
|
| 485.50
| 491.50
| 6.00
| 0.06
| 0.36
|
|
|
|
|
|
|
|
|
|
|
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.
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.
SOURCE NexGen Energy Ltd.
Image with caption: "Figure 1: Three-dimensional view of the A2 High Grade domain (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160606_C6654_PHOTO_EN_706470.jpg
Image with caption: "Figure 2: Arrow Deposit Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160606_C6654_PHOTO_EN_706472.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/20160606_C6654_PHOTO_EN_706474.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 ,
www.nexgenenergy.ca |
