NexGen Energy (NXE-V) Arrow Scissor Hole AR-16-91c2 Intersects 22.4 m of Off-Scale Radioactivity
June 16, '16 - NR
NexGen Energy is pleased to announce further results from our on-going spring drilling program on our 100% owned Rook I Property, Athabasca Basin, Saskatchewan.
Scissor drilling from southeast to northwest at the Arrow Deposit has confirmed and increased the known width of the higher grade A2 sub-zone (the "Sub-Zone"). Hole AR-16-91c2 has intersected 22.4 m of off-scale radioactivity (>10,000 to >61,000 cps) including a 3.0 m interval of minimum-greater-than-61,000 cps. The central part of the radioactive intersection consists of widespread massive to semi-massive pitchblende mineralization and was drilled 38 m up-dip and northeast of hole AR-15-44b.
The A2 High Grade Domain is associated with dense accumulations of massive to semi-massive pitchblende. It is currently outlined by 23 holes. Assay results for 5 holes from the Sub-Zone remain pending and the Company continues to drill with 2 rigs currently running.
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-
76c32
| AR-16-
63c12
| AR-16-
63c32
| AR-16-
86c11
| AR-16-
74c12
| AR-16-
63c22
| AR-16-
91c2
| AR-16-
64c32
| AR-16-
64c22
| AR-16-
64c12
| AR-16-
72c22
| AR-16-
78c12
| AR-16-
78c41
| Total composite mineralization =
| 48.5m
| 105.7m
| 73.5m
| 67.5m
| 55.5m
| 147.0m
| 90.0m
| 88.0m
| 138.0m
| 89.0m
| 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
| 13.4m
| 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
| 6.0m
| 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
| 3.0m
| 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
| Assays
Pending
| 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
|
|
A2 Shear:
AR-16-91c2 (38 m up-dip and northeast from AR-15-44b) intersected 89.0 m of total composite mineralization including 22.4 m of total composite off-scale radioactivity (>10,000 – >61,000 cps) within a 171.5 m section (425.5 to 597.0 m), featuring 3.0 m of minimum-greater-than-61,000 cps in the Sub-Zone.
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 spring 2016 program comprising 7,500 m of drilling will be transitioning to the summer 2016 program in late-June.
The Company has cash on hand of of approximately $100 million.
A drill hole location map, three-dimensional view of the A2 High Grade Domain, and an A2 long section featuring the Sub-Zone are shown in Figures 1 to 3.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Scissor drill holes have been utilized to verify the thickness of high grade mineralization in the A2 sub-zone, and to test high grade mineralization in the A1 shear that was initially discovered by hole AR-16-84c1. Scissor hole AR-16-91c2 validates and expands upon the robust and high grade nature of sub-vertical mineralization contained within the A2 sub-zone."
Leigh Curyer, Chief Executive Officer, commented: "Infilling the currently defined area of Arrow mineralization is delivering growth throughout the deposit both in terms of grade and volume. This scissor hole, along with others previously completed, confirm Arrow's stacked sub-vertical nature which has been instrumental in developing Arrow in a time and cost efficient manner."
Table 2: Arrow Deposit Drill Hole Data
Drill Hole
| Athabasca
Group -
Basement
Unconformity
Depth (m)
| Handheld Scintillometer Results (RS-120)
| Hole ID
| Azimuth
| Dip
| Total
Depth
(m)
| From (m)
| To (m)
| Width (m)
| CPS Range
| AR-16-91c2
| 327
| -70
| 915.00
| 132.20
| 387.50
| 388.00
| 0.50
| <500 - 950
| 396.00
| 396.50
| 0.50
| <500 - 5400
| 401.50
| 406.00
| 4.50
| <500 - 3550
| 411.00
| 411.50
| 0.50
| <500 - 560
| 415.50
| 420.00
| 4.50
| <500 - 1700
| 425.50
| 428.00
| 2.50
| <500 - 13000
| 430.50
| 445.00
| 14.50
| <500 - 9400
| 448.00
| 453.50
| 5.50
| <500 - 11000
| 460.50
| 461.00
| 0.50
| <500 - 520
| 464.00
| 468.00
| 4.00
| <500 - 1200
| 470.50
| 474.00
| 3.50
| <500 - 1100
| 477.50
| 486.50
| 9.00
| <500 - 2100
| 491.00
| 491.50
| 0.50
| <500 - 850
| 494.50
| 495.00
| 0.50
| <500 - 700
| 503.00
| 506.00
| 3.00
| <500 - 880
| 517.00
| 518.50
| 1.50
| <500 - 1400
| 522.00
| 562.50
| 40.50
| <500 - >61000
| 573.50
| 574.00
| 0.50
| <500 - 5700
| 576.50
| 577.00
| 0.50
| <500 - 900
| 584.00
| 584.50
| 0.50
| <500 - 580
| 595.00
| 597.00
| 2.00
| <500 - 700
| 612.00
| 615.50
| 3.50
| <500 - 2200
| 619.50
| 620.50
| 1.00
| <500 - 1250
| 638.00
| 641.00
| 3.00
| <500 - 3500
| 645.00
| 645.50
| 0.50
| <500 - 3500
| 654.00
| 655.00
| 1.00
| <500 - 1280
| 718.00
| 718.50
| 0.50
| <500 - 3550
| 754.50
| 755.00
| 0.50
| <500 - 550
| 772.00
| 773.00
| 1.00
| <500 - 1000
| 830.50
| 838.50
| 8.00
| <500 - 1200
|
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-16-91c2
Hole AR-16-91c2 was a directional hole that departed pilot hole AR-16-91c1 at a depth of 345 m. It was designed as a scissor hole to both verify the thickness of the sub-vertical 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 354 m. The A1 and A2 shears were intersected at inclinations of -71° and -72°, 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 extensive highly anomalous radioactivity in the A2 shear marked by dense accumulations of semi-massive and massive pitchblende mineralization along with veins, stringers, chemical solution fronts, blebs and flecks of pitchblende. Anomalous radioactivity was also intersected in the A1 and A3 shears as well as to the northwest of the A1 shear. A total composite mineralization of 118.5 m including 22.4 m of off-scale radioactivity was intersected within a 451.0 m section (387.5 to 838.5 m) before the hole was terminated at 915 m. In the A1 shear, 11.0 m of composite mineralization was intersected. In the A2 shear, 89.0 m of total composite mineralization including 22.4 m of off-scale radioactivity was intersected. In the A3 shear 10.5 m of composite mineralization was intersected. The hole has successfully confirmed the robust thickness of the sub-vertical mineralization in the higher grade sub-zone of the A2 shear.
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.
SOURCE NexGen Energy Ltd.
Image with caption: "Figure 1: Arrow Deposit Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160616_C6022_PHOTO_EN_715352.jpg
Image with caption: "Figure 2: Three Dimensional View of the Arrow Deposit High-Grade Domain (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160616_C6022_PHOTO_EN_715354.jpg
Image with caption: "Figure 3: A2 Mineralized Shear Long Section (Close Up of the Sub-Zone) (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160616_C6022_PHOTO_EN_715356.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 |
