NexGen Energy (NXE-T) July 19, '16 is pleased to report assay results for 8 holes from our recently completed winter 2016 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Highlights:
A2 Sub-Zone
Extensive and continuous high grade uranium mineralization in the higher grade A2 sub-zone (the "Sub-Zone) is confirmed with 2 assay results reported herein.
AR-16-81c3 (127 m up-dip and southwest from AR-15-44b) intersected 23.0 m at 17.19% U3O8 including 9.5 m at 39.82% U3O8 and 5.0 m at 49.27% U3O8.
AR-16-86c1 (84 m up-dip and southwest from AR-15-44b) intersected 44.5 m at 8.85% U3O8 including 19.0 m at 20.40% U3O8 and 5.0 m at 39.52% U3O8.
A2 Shear High Grade Domain
AR-16-80c4 (110 m up-dip and southwest from AR-15-44b) intersected 25.0 m at 6.38% U3O8 including 10.0 m at 14.66% U3O8.
AR-16-84c2 (33 m up-dip and northeast from AR-15-44b) intersected 39.0 m at 2.10% U3O8 including 18.5 m at 4.27% U3O8.
AR-16-84c3 (34 m up-dip and northeast from AR-15-44b) intersected 31.0 m at 3.26% U3O8 including 18.0 m at 5.58% U3O8 and 6.5 m at 10.89% U3O8.
AR-16-85c1 (90 m up-dip and southwest from AR-15-44b) intersected 24.0 m at 4.40% U3O8 including 3.5 m at 29.15% U3O8.
Substantial mineralization was intersected completely outside the current boundary of the A2 high grade domain in six holes (Figure 1). There is significant potential for continued expansion and this will be a focus of the 35,000 m summer drilling program.
High Grade Gold
High grade assays intersected in the A2 shear also contain high grade gold and silver values, with individual 0.5 m samples ranging from below detection limits up to 90.4 g/t Au and 418 g/t Ag (Table 1). Hole AR-16-81c3 returned 9.5 m at 7.9 g/t Au and AR-16-86c1 returned 20.4 m at 1.9 g/t Au. Also of significant importance, geochemical analyses continue to show very low concentrations of deleterious elements (arsenic, antimony, selenium), which is a favourable characteristic for processing of uranium ores in the Athabasca Basin.
A three-dimensional view of the A2 High Grade Domain, a plan map, and the A2 long section are shown in Figures 1 to 3.
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 imminently.
The Company has cash on hand of approximately $100 million.
Garrett Ainsworth, Vice-President, Exploration and Development, commented "Our winter drilling program has exceeded all of our expectations. As shown in Figure 1, drill holes -81c3 and -86c1 are on the very edges of the A2 high grade domain where substantial intervals of high grade uranium are completely outside the high grade domain. We look forward to delivering continued success throughout the summer program and beyond."
Leigh Curyer, Chief Executive Officer commented: "Assay results today continue to show the robustness of the A2 Sub-Zone which continuously returns high uranium grades on a world scale. These results are also inclusive of significant gold values and very low deleterious elements which is a favourable characteristic for processing of uranium ores in the Athabasca Basin."
Table 1: Selected A2 Shear Assay Results
Drill Hole
| SRC Geoanalytical Results
| Hole ID
| From
(m)
| To
(m)
| Interval
(m)
| U3O8
(wt%)
| Au
(g/t)
| Ag
(g/t)
| Cu
(wt%)
| Mo
(wt%)
| As
(wt%)
| Sb
(wt%)
| Se
(wt%)
| AR-16-80c4
incl.
| 529.0
| 554.0
| 25.0
| 6.38
| 1.1
| 37.8
| 0.07
| 0.18
| <0.01
| <0.01
| <0.01
| 536.0
| 546.0
| 10.0
| 14.66
| 2.4
| 73.7
| 0.04
| 0.28
| 0.01
| <0.01
| 0.01
| AR-16-81c3
incl.
incl.
incl.
| 546.0
| 569.0
| 23.0
| 17.19
| 3.4
| 77.5
| 0.25
| 0.20
| 0.02
| <0.01
| 0.01
| 553.5
| 563.0
| 9.5
| 39.82
| 7.9
| 163.9
| 0.57
| 0.23
| 0.03
| <0.01
| 0.02
| 555.0
| 560.0
| 5.0
| 49.27
| 10.7
| 210.3
| 0.85
| 0.24
| 0.04
| <0.01
| 0.02
| 559.5
| 560.0
| 0.5
| 43.20
| 90.4
| 209.0
| 0.61
| 0.19
| 0.01
| <0.01
| 0.02
| AR-16-84c2
incl.
| 535.5
| 574.5
| 39.0
| 2.10
| 0.3
| 11.2
| 0.05
| 0.04
| <0.01
| <0.01
| <0.01
| 554.0
| 572.5
| 18.5
| 4.27
| 0.5
| 18.9
| 0.05
| 0.04
| 0.01
| <0.01
| <0.01
| AR-16-84c3
incl.
incl.
| 540.0
| 571.0
| 31.0
| 3.26
| 0.2
| 18.1
| 0.08
| 0.05
| 0.01
| <0.01
| <0.01
| 548.5
| 566.5
| 18.0
| 5.58
| 0.3
| 28.6
| 0.12
| 0.05
| 0.02
| <0.01
| 0.01
| 560.0
| 566.5
| 6.5
| 10.89
| 0.6
| 54.4
| 0.25
| 0.12
| 0.03
| <0.01
| 0.01
| AR-16-85c1
incl.
incl.
| 460.0
| 484.0
| 24.0
| 4.40
| 0.2
| 37.5
| 0.01
| 0.01
| 0.05
| <0.01
| <0.01
| 465.5
| 469.0
| 3.5
| 29.15
| 0.9
| 252.0
| 0.05
| 0.04
| 0.29
| <0.01
| <0.01
| 467.0
| 467.5
| 0.5
| 49.00
| 0.8
| 418.0
| 0.04
| 0.03
| 0.25
| <0.01
| <0.01
| AR-16-86c1
incl.
incl.
| 402.0
| 446.5
| 44.5
| 8.85
| 0.9
| 49.0
| 0.05
| 0.13
| 0.05
| <0.01
| 0.01
| 423.5
| 442.5
| 19.0
| 20.40
| 1.9
| 113.1
| 0.11
| 0.28
| 0.10
| <0.01
| 0.03
| 428.5
| 433.5
| 5.0
| 39.52
| 1.0
| 199.2
| 0.05
| 0.22
| 0.24
| <0.01
| 0.03
|
Composite parameters:
Minimum thickness 0.5 m downhole
Cutoff grade 0.01% U3O8
Maximum internal dilution 2.00 m downhole
U3O8, Ag, Cu, Mo analyzed by ICP-OES, Au analyzed by fire assay, As, Sb, Se analyzed by ICP-MS at SRC Geoanalytical Laboratories, Saskatoon, Saskatchewan.
All depths and intervals are meters downhole, true thicknesses are yet to be determined
Table 2: Arrow Deposit 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-16-80c3
| 147
| -70
| 585.00
| 120.20
| 450.50
| 452.00
| 1.50
| 0.05
|
|
|
|
|
| 469.00
| 471.00
| 2.00
| 0.85
|
|
|
|
|
| 474.00
| 509.00
| 35.00
| 0.70
|
|
|
|
|
| 515.00
| 520.00
| 5.00
| 0.04
|
|
|
|
|
| 537.50
| 554.00
| 16.50
| 0.16
|
|
|
|
|
| 556.50
| 560.00
| 3.50
| 0.08
|
|
|
|
|
| 568.00
| 578.00
| 10.00
| 0.06
| AR-16-80c4
| 147
| -70
| 618.00
| 120.20
| 487.50
| 493.00
| 5.50
| 0.10
|
|
|
|
|
| 496.00
| 508.50
| 12.50
| 0.40
|
|
|
|
|
| 511.00
| 526.00
| 15.00
| 0.89
|
|
|
|
|
| 529.00
| 554.00
| 25.00
| 6.38
|
|
|
|
| incl.
| 536.00
| 546.00
| 10.00
| 14.66
|
|
|
|
|
| 571.00
| 588.00
| 17.00
| 0.08
|
|
|
|
|
| 602.50
| 605.00
| 2.50
| 0.04
| AR-16-81c3
| 145
| -69
| 932.00
| 111.00
| 513.50
| 518.50
| 5.00
| 0.19
|
|
|
|
|
| 521.00
| 531.50
| 10.50
| 0.22
|
|
|
|
|
| 535.50
| 539.50
| 4.00
| 0.05
|
|
|
|
|
| 546.00
| 569.00
| 23.00
| 17.19
|
|
|
|
| incl.
| 553.50
| 563.00
| 9.50
| 39.82
|
|
|
|
| incl.
| 555.00
| 560.00
| 5.00
| 49.27
|
|
|
|
|
| 594.50
| 595.50
| 1.00
| 0.05
|
|
|
|
|
| 604.50
| 611.00
| 6.50
| 0.13
|
|
|
|
|
| 614.00
| 615.50
| 1.50
| 0.02
|
|
|
|
|
| 620.00
| 622.00
| 2.00
| 0.10
|
|
|
|
|
| 628.00
| 629.00
| 1.00
| 0.03
|
|
|
|
|
| 634.00
| 636.00
| 2.00
| 0.10
|
|
|
|
|
| 645.00
| 650.50
| 5.50
| 0.14
|
|
|
|
|
| 661.50
| 679.00
| 17.50
| 0.13
|
|
|
|
|
| 698.00
| 698.50
| 0.50
| 0.03
|
|
|
|
|
| 704.00
| 713.00
| 9.00
| 0.27
|
|
|
|
|
| 717.00
| 718.00
| 1.00
| 0.10
|
|
|
|
|
| 725.00
| 730.00
| 5.00
| 0.02
|
|
|
|
|
| 764.50
| 771.00
| 6.50
| 0.05
|
|
|
|
|
| 782.00
| 783.00
| 1.00
| 0.02
|
|
|
|
|
| 804.50
| 805.50
| 1.00
| 0.04
|
|
|
|
|
| 817.50
| 830.00
| 12.50
| 0.06
|
|
|
|
|
| 833.50
| 834.50
| 1.00
| 0.07
|
|
|
|
|
| 839.50
| 849.00
| 9.50
| 0.05
|
|
|
|
|
| 894.00
| 899.00
| 5.00
| 0.76
|
|
|
|
|
| 904.50
| 906.00
| 1.50
| 0.04
| AR-16-84c2
| 315
| -71
| 864.00
| 127.00
| 409.00
| 413.00
| 4.00
| 0.11
|
|
|
|
|
| 417.00
| 425.50
| 8.50
| 0.05
|
|
|
|
|
| 440.50
| 445.00
| 4.50
| 0.01
|
|
|
|
|
| 448.50
| 452.00
| 3.50
| 0.02
|
|
|
|
|
| 458.50
| 459.50
| 1.00
| 0.04
|
|
|
|
|
| 469.50
| 484.50
| 15.00
| 0.04
|
|
|
|
|
| 487.00
| 493.00
| 6.00
| 0.06
|
|
|
|
|
| 499.50
| 500.00
| 0.50
| 0.04
|
|
|
|
|
| 514.00
| 523.00
| 9.00
| 0.11
|
|
|
|
|
| 535.50
| 574.50
| 39.00
| 2.10
|
|
|
|
| incl.
| 554.00
| 572.50
| 18.50
| 4.27
|
|
|
|
|
| 580.00
| 581.50
| 1.50
| 0.58
|
|
|
|
|
| 584.50
| 590.00
| 5.50
| 1.12
|
|
|
|
|
| 595.00
| 597.50
| 2.50
| 0.04
|
|
|
|
|
| 612.00
| 617.50
| 5.50
| 0.03
|
|
|
|
|
| 624.00
| 625.50
| 1.50
| 0.05
|
|
|
|
|
| 672.00
| 686.00
| 14.00
| 0.07
|
|
|
|
|
| 689.00
| 690.00
| 1.00
| 0.01
|
|
|
|
|
| 694.50
| 711.50
| 17.00
| 0.04
| AR-16-84c3
| 315
| -71
| 813.00
| 127.00
| 419.50
| 423.50
| 4.00
| 0.04
|
|
|
|
|
| 427.00
| 427.50
| 0.50
| 0.03
|
|
|
|
|
| 433.00
| 445.00
| 12.00
| 0.04
|
|
|
|
|
| 452.00
| 453.50
| 1.50
| 0.18
|
|
|
|
|
| 457.50
| 460.50
| 3.00
| 0.04
|
|
|
|
|
| 465.50
| 466.50
| 1.00
| 0.02
|
|
|
|
|
| 472.50
| 485.00
| 12.50
| 0.03
|
|
|
|
|
| 490.00
| 496.50
| 6.50
| 0.03
|
|
|
|
|
| 501.00
| 513.00
| 12.00
| 0.02
|
|
|
|
|
| 540.00
| 571.00
| 31.00
| 3.26
|
|
|
|
| incl.
| 548.50
| 566.50
| 18.00
| 5.58
|
|
|
|
| incl.
| 560.00
| 566.50
| 6.50
| 10.89
|
|
|
|
|
| 576.00
| 581.00
| 5.00
| 1.76
|
|
|
|
|
| 585.00
| 586.00
| 1.00
| 0.06
|
|
|
|
|
| 588.50
| 593.50
| 5.00
| 0.15
|
|
|
|
|
| 677.50
| 680.00
| 2.50
| 0.26
|
|
|
|
|
| 692.00
| 698.50
| 6.50
| 0.11
|
|
|
|
|
| 704.00
| 717.00
| 13.00
| 1.39
|
|
|
|
|
| 719.50
| 733.50
| 14.00
| 0.35
|
|
|
|
|
| 739.50
| 744.00
| 4.50
| 0.03
|
|
|
|
|
| 763.50
| 772.50
| 9.00
| 0.03
| AR-16-85c1
| 143
| -70
| 978.00
| 114.40
| 404.50
| 405.00
| 0.50
| 0.10
|
|
|
|
|
| 410.00
| 410.50
| 0.50
| 0.08
|
|
|
|
|
| 416.50
| 418.00
| 1.50
| 0.09
|
|
|
|
|
| 430.50
| 444.50
| 14.00
| 0.03
|
|
|
|
|
| 460.00
| 484.00
| 24.00
| 4.40
|
|
|
|
| incl.
| 465.50
| 469.00
| 3.50
| 29.15
|
|
|
|
|
| 590.00
| 599.00
| 9.00
| 0.03
|
|
|
|
|
| 636.00
| 643.50
| 7.50
| 0.04
|
|
|
|
|
| 646.00
| 653.50
| 7.50
| 0.03
|
|
|
|
|
| 660.00
| 660.50
| 0.50
| 0.06
|
|
|
|
|
| 663.00
| 674.50
| 11.50
| 0.53
|
|
|
|
|
| 677.00
| 682.00
| 5.00
| 0.02
|
|
|
|
|
| 702.50
| 709.00
| 6.50
| 0.01
|
|
|
|
|
| 731.50
| 735.00
| 3.50
| 0.05
|
|
|
|
|
| 816.00
| 817.00
| 1.00
| 0.20
|
|
|
|
|
| 825.00
| 832.00
| 7.00
| 0.13
|
|
|
|
|
| 835.50
| 838.50
| 3.00
| 0.40
|
|
|
|
|
| 851.00
| 852.50
| 1.50
| 0.05
|
|
|
|
|
| 864.50
| 875.50
| 11.00
| 0.06
|
|
|
|
|
| 878.50
| 879.00
| 0.50
| 0.16
|
|
|
|
|
| 893.00
| 895.50
| 2.50
| 0.12
|
|
|
|
|
| 921.00
| 922.00
| 1.00
| 0.05
|
|
|
|
|
| 940.00
| 942.00
| 2.00
| 0.10
|
|
|
|
|
| 954.50
| 955.00
| 0.50
| 0.15
| AR-16-85c2
| 143
| -70
| 606.00
| 114.40
| 428.00
| 472.00
| 44.00
| 0.37
|
|
|
|
|
| 475.00
| 495.50
| 20.50
| 0.05
|
|
|
|
|
| 529.00
| 532.00
| 3.00
| 0.01
|
|
|
|
|
| 579.50
| 581.50
| 2.00
| 0.02
|
|
|
|
|
| 599.50
| 601.00
| 1.50
| 0.02
| AR-16-86c1
| 142
| -71
| 897.00
| 110.50
| 402.00
| 446.50
| 44.50
| 8.85
|
|
|
|
| incl.
| 423.50
| 442.50
| 19.00
| 20.40
|
|
|
|
| incl.
| 428.50
| 433.50
| 5.00
| 39.52
|
|
|
|
|
| 449.00
| 488.00
| 39.00
| 0.10
|
|
|
|
|
| 494.00
| 503.50
| 9.50
| 0.11
|
|
|
|
|
| 513.50
| 520.00
| 6.50
| 0.03
|
|
|
|
|
| 560.00
| 566.00
| 6.00
| 0.04
|
|
|
|
|
| 571.00
| 625.00
| 54.00
| 0.10
|
|
|
|
|
| 630.00
| 632.50
| 2.50
| 0.01
|
|
|
|
|
| 637.00
| 665.00
| 28.00
| 0.26
|
|
|
|
|
| 670.00
| 671.00
| 1.00
| 0.05
|
|
|
|
|
| 680.50
| 692.50
| 12.00
| 0.15
|
|
|
|
|
| 696.50
| 719.00
| 22.50
| 0.32
|
|
|
|
|
| 722.50
| 726.50
| 4.00
| 0.93
|
|
|
|
|
| 729.00
| 730.00
| 1.00
| 0.07
|
|
|
|
|
| 744.00
| 756.00
| 12.00
| 0.33
|
|
|
|
|
| 758.50
| 760.00
| 1.50
| 0.07
|
|
|
|
|
| 767.50
| 769.00
| 1.50
| 0.30
|
|
|
|
|
| 817.00
| 824.50
| 7.50
| 0.51
|
|
|
|
|
| 829.50
| 845.50
| 16.00
| 0.74
|
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.
About NexGen
NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has an 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 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 the Bow discovery, 3.7 km along trend and northeast of Arrow, in March 2015 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 .
Technical Information
All scientific and technical information in this news release has been prepared by or reviewed and approved by Mr. Garrett Ainsworth, P.Geo., Vice President – Exploration & Development for NexGen. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols.
For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the mineral resource set forth above please refer to the technical report entitled "Technical Report on the Rook 1 Property, Saskatchewan, Canada" dated effective April 13, 2016 (the "Rook 1 Technical Report") prepared by Mark B. Mathisen and David Ross, each of whom is a "qualified person" under NI 43-101. The Rook I Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com.
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/20160719_C5083_PHOTO_EN_737152.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/20160719_C5083_PHOTO_EN_737154.jpg
Image with caption: "Figure 3: A2 Mineralized Shear Long Section (Close Up of Sub-Zone) (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160719_C5083_PHOTO_EN_737156.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 |
