VANCOUVER, Aug. 26, 2015 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to announce radioactivity results from our on-going summer 2015 drilling program on our 100% owned Rook I property, Athabasca Basin, Saskatchewan. Additionally, the Company announces it has expanded the summer program by 5,000 m to 30,000 m in order to drill test the newly discovered 210 meter southwest extension of Arrow for inclusion in a maiden NI 43-101 resource estimate in first half 2016.
All six drill holes reported from the Arrow zone in this news release have returned significant visible mineralization and off-scale radioactivity. Importantly, step-out drilling in AR-15-54c1 has intersected substantial high grade mineralization in the A2 shear. Furthermore, step-out drilling in AR-15-56c1 has intersected widespread high grade mineralization in the A3 shear. The Arrow zone remains open in all directions and the Company's focus for the remainder of the summer season is defining the extensions of high-grade mineralization in both shear zones.
Highlights:
Arrow – A2 and A3 Extensions
Arrow – A2 and A3 Core Delineation
Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented: "These latest results from our Arrow zone continue to impress us with four of the six reported drill holes encountering >61,000 cps radioactivity associated with dense accumulations of massive pitchblende. Of note, hole AR-15-54c1 drilled at a dip of -62° through the sub-vertical A2 high grade core zone, and returned 42 m of mineralization including 9.4 m of off-scale in the A2 shear demonstrating the high grade cores within Arrow continue to prove up well."
Leigh Curyer, Chief Executive Officer commented: "The expansion of the summer drilling program to 30,000 m is a function of the successful discovery of broad zones of mineralization 50, 100 and 210 m southwest from AR-15-44b. Additional drilling is now required to include this new southwest extension in our maiden resource estimate which we anticipate within the first half of 2016. Also, the Rook I camp infrastructure is undergoing significant expansion in order to accommodate the expanded program, including additional core storage and personnel. This is a very exciting time for the team and our shareholders."
Drill hole locations, and the A2 and A3 long sections are shown in Figures 1 to 3, and Table 1 has a summary of the mineralized intervals.
Table 1: Arrow Zone Drill Hole Data
| Drill Hole |
Athabasca Group - |
Handheld Scintillometer Results (RS-120) |
||||||
| Hole ID |
Azimuth |
Dip |
Total Depth (m) |
From (m) |
To (m) |
Width (m) |
CPS Range |
|
| AR-15-53c2 |
141 |
-77 |
684.00 |
114.00 |
439.50 |
442.00 |
2.50 |
<500 - 1200 |
| 549.00 |
549.50 |
0.50 |
<500 - 900 |
|||||
| 563.50 |
567.50 |
4.00 |
<500 - 1550 |
|||||
| 570.50 |
572.50 |
2.00 |
<500 - 560 |
|||||
| 578.00 |
610.00 |
32.00 |
<500 - >61000 |
|||||
| 613.50 |
614.00 |
0.50 |
<500 - 4100 |
|||||
| 616.50 |
619.00 |
2.50 |
<500 - 7200 |
|||||
| 623.00 |
628.00 |
5.00 |
<500 - 2800 |
|||||
| 642.50 |
655.00 |
12.50 |
<500 - 4200 |
|||||
| AR-15-53c3 |
141 |
-77 |
936.00 |
114.00 |
549.50 |
550.00 |
0.50 |
<500 - 560 |
| 555.00 |
556.00 |
1.00 |
<500 - 680 |
|||||
| 588.50 |
589.00 |
0.50 |
<500 - 680 |
|||||
| 619.50 |
636.00 |
16.50 |
<500 - > 61000 |
|||||
| 639.00 |
640.50 |
1.50 |
<500 - 3700 |
|||||
| 644.00 |
645.00 |
1.00 |
<500 - 1750 |
|||||
| 651.00 |
657.00 |
6.00 |
<500 - >61000 |
|||||
| 663.50 |
664.00 |
0.50 |
500 - 5500 |
|||||
| 676.50 |
685.50 |
9.00 |
<500 - 27500 |
|||||
| 772.00 |
774.50 |
2.50 |
<500 - 1700 |
|||||
| 777.50 |
778.50 |
1.00 |
<500 - 560 |
|||||
| 781.00 |
782.00 |
1.00 |
<500 - 4300 |
|||||
| 794.00 |
795.00 |
1.00 |
<500 - 1500 |
|||||
| 797.50 |
803.00 |
5.50 |
<500 - 2450 |
|||||
| 806.50 |
810.00 |
3.50 |
<500 - 13000 |
|||||
| 814.00 |
815.50 |
1.50 |
<500 - 2500 |
|||||
| 818.50 |
824.00 |
5.50 |
<500 - 9400 |
|||||
| 891.00 |
892.00 |
1.00 |
<500 - 570 |
|||||
| AR-15-54c1 |
140 |
-76 |
816.00 |
109.00 |
437.50 |
438.00 |
0.50 |
<500 - 600 |
| 470.50 |
484.50 |
14.00 |
<500 - 19000 |
|||||
| 489.00 |
489.50 |
0.50 |
<500 - 590 |
|||||
| 493.00 |
514.50 |
21.50 |
<500 - >61000 |
|||||
| 522.00 |
528.00 |
6.00 |
<500 - 700 |
|||||
| 615.00 |
622.50 |
7.50 |
<500 - 2500 |
|||||
| 625.00 |
626.00 |
1.00 |
<500 - 1100 |
|||||
| 629.00 |
636.50 |
7.50 |
<500 - 7000 |
|||||
| 639.50 |
640.00 |
0.50 |
500 - 2400 |
|||||
| 685.50 |
688.00 |
2.50 |
<500 - 1100 |
|||||
| 692.00 |
692.50 |
0.50 |
<500 - 13000 |
|||||
| 701.50 |
702.00 |
0.50 |
<500 - 1000 |
|||||
| 704.50 |
708.00 |
3.50 |
<500 - 7200 |
|||||
| 737.50 |
740.00 |
2.50 |
<500 - 33000 |
|||||
| AR-15-54c2 |
140 |
-76 |
891.00 |
109.00 |
521.00 |
525.50 |
4.50 |
<500 - 3800 |
| 531.50 |
542.00 |
10.50 |
<500 - 20000 |
|||||
| 545.00 |
548.00 |
3.00 |
<500 - 800 |
|||||
| 557.50 |
559.00 |
1.50 |
<500 - 35000 |
|||||
| 564.00 |
565.50 |
1.50 |
<500 - 3400 |
|||||
| 592.50 |
599.00 |
6.50 |
<500 - 5300 |
|||||
| 602.50 |
603.00 |
0.50 |
<500 - 600 |
|||||
| 617.00 |
619.00 |
2.00 |
<500 - 2800 |
|||||
| 621.50 |
622.50 |
1.00 |
<500 - 1200 |
|||||
| 629.00 |
633.00 |
4.00 |
<500 - 46000 |
|||||
| 637.50 |
642.00 |
4.50 |
<500 - 3800 |
|||||
| 648.50 |
649.50 |
1.00 |
<500 - 550 |
|||||
| 655.00 |
664.00 |
9.00 |
<500 - 21000 |
|||||
| 670.50 |
685.50 |
15.00 |
<500 - 53000 |
|||||
| 688.00 |
698.00 |
10.00 |
<500 - 30000 |
|||||
| 700.50 |
708.50 |
8.00 |
<500 - 25000 |
|||||
| 718.00 |
720.00 |
2.00 |
<500 - 1800 |
|||||
| 725.00 |
725.50 |
0.50 |
<500 - 800 |
|||||
| 738.50 |
739.50 |
1.00 |
<500 - 3300 |
|||||
| 747.50 |
763.50 |
16.00 |
<500 - 6800 |
|||||
| 767.50 |
768.00 |
0.50 |
<500 - 1000 |
|||||
| 793.00 |
794.00 |
1.00 |
<500 - 800 |
|||||
| 801.50 |
802.00 |
0.50 |
<500 - 550 |
|||||
| 805.50 |
806.00 |
0.50 |
700 - 1800 |
|||||
| 810.50 |
817.50 |
7.00 |
<500 - 4000 |
|||||
| 825.50 |
828.00 |
2.50 |
<500 - 3500 |
|||||
| AR-15-55 |
140 |
-75 |
924.00 |
103.60 |
550.00 |
552.00 |
2.00 |
<500 - 1700 |
| 556.50 |
557.00 |
0.50 |
<500 - 560 |
|||||
| 582.50 |
584.50 |
2.00 |
<500 - 12400 |
|||||
| 607.00 |
610.00 |
3.00 |
<500 - 6100 |
|||||
| 670.50 |
671.00 |
0.50 |
<500 - 550 |
|||||
| AR-15-56c1 |
139 |
-76.5 |
996.00 |
110.40 |
550.00 |
551.50 |
1.50 |
<500 - 1500 |
| 555.00 |
558.00 |
3.00 |
<500 - 3000 |
|||||
| 560.50 |
569.00 |
8.50 |
<500 - 2500 |
|||||
| 580.50 |
588.00 |
7.50 |
<500 - 10000 |
|||||
| 594.00 |
598.50 |
4.50 |
<500 - 24000 |
|||||
| 602.50 |
605.00 |
2.50 |
<500 - 2000 |
|||||
| 619.00 |
619.50 |
0.50 |
<500 - 700 |
|||||
| 624.50 |
635.50 |
11.00 |
<500 - 16000 |
|||||
| 638.00 |
640.50 |
2.50 |
<500 - 2300 |
|||||
| 649.50 |
651.00 |
1.50 |
<500 - 6400 |
|||||
| 654.50 |
660.50 |
6.00 |
<500 - >61000 |
|||||
| 663.50 |
664.50 |
1.00 |
<500 - 3000 |
|||||
| 667.50 |
668.50 |
1.00 |
<500 - 9700 |
|||||
| 685.50 |
686.00 |
0.50 |
<500 - 520 |
|||||
| 721.50 |
728.00 |
6.50 |
<500 - >61000 |
|||||
| 748.50 |
752.00 |
3.50 |
<500 - 1800 |
|||||
| 755.00 |
756.00 |
1.00 |
<500 - 1000 |
|||||
| 761.00 |
761.50 |
0.50 |
<500 - 600 |
|||||
| 764.50 |
765.00 |
0.50 |
<500 - 800 |
|||||
| 770.50 |
779.00 |
8.50 |
<500 - 2600 |
|||||
| 781.50 |
794.50 |
13.00 |
<500 - 53000 |
|||||
| 797.00 |
797.50 |
0.50 |
<500 - 650 |
|||||
| 801.50 |
806.00 |
4.50 |
<500 - 1400 |
|||||
| 810.00 |
811.00 |
1.00 |
<500 - 2100 |
|||||
| 847.00 |
848.00 |
1.00 |
<500 - 1300 |
|||||
| 851.50 |
861.50 |
10.00 |
<500 - 34000 |
|||||
| 864.50 |
871.50 |
7.00 |
<500 - 15000 |
|||||
| 874.00 |
879.00 |
5.00 |
<500 - 12000 |
|||||
| 886.00 |
889.50 |
3.50 |
<500 - 6500 |
|||||
| 895.00 |
901.00 |
6.00 |
<500 - 21000 |
|||||
| 909.50 |
910.50 |
1.00 |
<500 - 1400 |
|||||
| 935.00 |
935.50 |
0.50 |
<500 - 1800 |
|||||
Parameters:
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. Core interval measurements and 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 the partial and total digestions, ICP-OES for major and minor elements on the 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.
ARROW ZONE DRILLING
AR-15-53c2
Hole AR-15-53c2 was a directional drill hole that departed from pilot hole AR-15-53c1 at a depth of 339.0 m. It tested the A2 shear 32 m up-dip from AR-15-39w1 (1.85% U3O8 over 26.0 m in the A2 shear). Directional drilling was initiated at 424.0 m and A2 shear was intersected at an inclination of -73°.
Since this 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 mylonite (the A2 shear). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 shear that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 61.5 m including 6.55 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 215.5 m section (439.5 to 655.0 m). The hole was terminated immediately after the A2 shear at 684.0 m.
AR-15-53c3
Hole AR-15-53c3 was a directional hole that departed from pilot hole AR-15-53c2 at a depth of 425.0 m. It tested the A2 shear 33 m down-dip from AR-15-39 (2.82% U3O8 over 27.0 m in the A2 shear) and the A3 shear 42 m down-dip from AR-15-39 (2.27% U3O8 over 29.0 m in the A3 shear). Directional drilling was initiated at 472 m. The A2 and A3 shears were intersected at inclinations of -81° and -71°, 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 A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 59.0 m including 5.50 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 342.5 m section (549.5 to 892.0 m). In the A2 shear, 35.0 m of composite mineralization including 5.3 m of off-scale radioactivity was intersected. In the A3 shear, 11.5 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. The hole was terminated at 936.0 m and represents a 33 m step-out on the A2 shear.
AR-15-54c1
Hole AR-15-54c1 was a directional drill hole collared at an angled orientation (-76° dip) to the southeast (140° azimuth). It tested the A2 shear 57 m up-dip and southwest from AR-15-48c3 (12.45 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 65 m southwest from AR-15-48c1 (7.8 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 247 m. The A2 and A3 shears were intersected at dips of -62° and -61°, respectively.
The hole intersected bleached and locally heavily desilicified Athabasca Group sandstones between 96.0 m and the unconformity at 109.0 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. Mineralization was particularly intense in the A2 shear. A total composite mineralization of 68.5 m including 10.35 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 302.5 m section (437.5 to 740.0 m). In the A2 shear, 42.0 m of composite mineralization including 9.4 m of off-scale radioactivity was intersected. In the A3 shear, 26.0 m of composite mineralization including 0.95 m of off-scale radioactivity was intersected. The hole was terminated at 816.0 m. It represents a 57 m step-out on the A2 shear and a 65 m step-out on the A3 shear.
AR-15-54c2
Hole AR-15-54c2 was a directional hole that departed from pilot hole AR-15-54c1 at a depth of 234 m. It tested the A2 shear 57 m down-plunge from AR-15-48c3 (12.45 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 30 m up-plunge from AR-15-51 (6.45 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 355 m. The A2 and A3 shears were both intersected at inclinations -67°.
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 A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 114.0 m including 5.85 m of off-scale radioactivity (>10,000 to 53,000 cps) was intersected within a 307.0 m section (521.0 to 828.0 m). In the A2 shear, 35.0 m of composite mineralization including 1.25 m of off-scale radioactivity was intersected. In the A3 shear, 73.0 m of composite mineralization including 4.6 m of off-scale radioactivity was intersected. The hole was terminated at 891.0m. It represents a 57 m step-out on the A2 shear and a 30 m step-out on the A3 shear.
AR-15-55
Hole AR-15-55 was drilled at an angled orientation (-75° dip) to the southeast (140° azimuth). It was designed to test the A2 shear as a 45 m down-plunge step-out from AR-15-52 (1.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear as a 60 m down-plunge step-out from AR-15-52 (2.95 m of off-scale radioactivity in the A3 shear; assays pending).
The hole intersected bleached Athabasca Group sandstones between 92.0 m and the unconformity at 103.6 m. Basement lithologies consisted largely of semi-pelitic gneiss to granofel, granodiorite and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected weakly to locally strongly anomalous radioactivity on the A2 shear that was associated with fracture controlled and disseminated pitchblende mineralization. A total composite mineralization of 8.0 m including 0.2 m of off-scale radioactivity (>10,000 to 12,400 cps) was intersected within a 121.0 m section (550.0 to 671.0 m) before the hole was terminated at 924 m.
AR-15-56c1
Hole AR-15-56c1 was a directional hole collared at an angled orientation (-76.5° dip) to the southeast (139° azimuth). It tested the A2 shear 42 m down-plunge from AR-15-38 (0.90% U3O8 over 32.0 m in the A2 shear) and the A3 shear 51 m up-dip and southwest from AR-15-39w1 (0.72% U3O8 over 36.0 m in the A3 shear). Directional drilling was initiated at 277 m. The A2 and A3 shears were both intersected at inclinations of -74°.
The hole intersected bleached and locally heavily desilicified Athabasca Group sandstones between 97.8 m and the unconformity at 110.4 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 and A3 shears that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 125.0 m including 10.95 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 385.5 m section (550.0 to 935.5 m). In the A2 shear, 49.0 m of composite mineralization including 2.6 m of off-scale radioactivity was intersected. In the A3 shear, 73.0 m of composite mineralization including 8.35 m of off-scale radioactivity was intersected. The hole was terminated at 996.0 m and represents 42 m step-out on the A2 shear and a 51 m step-out on the A3 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 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
[email protected]
www.nexgenenergy.ca
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.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, but not always, forward looking information is identifiable by the use of words such as "will" and planned" and similar expressions. Forward-looking information is based on the then current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Such information is not a guarantee of future performance and undue reliance should not be placed on forward-looking information. Assumptions and factors underlying the Company's expectations regarding forward-looking information contained herein include, among others: that general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed on reasonable terms; that the Company's current exploration activities can be achieved and that its other corporate activities will proceed as expected; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner.
Although the assumptions made by the Company in providing forward looking information are considered reasonable by management at the time the forward-looking information is given, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information also involves known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information, including, among others: risks related to the availability of financing on commercially reasonable terms and the expected use of the proceeds; changes in the market; potential downturns in economic conditions; industry conditions; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results of exploration; future prices of metal; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks; changes in laws and regulations; community relations; and delays in obtaining governmental or other approvals or financing. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. NexGen undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
SOURCE NexGen Energy Ltd.
Image with caption: "Figure 1: Arrow Zone Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150826_C8798_PHOTO_EN_484107.jpg
Image with caption: "Figure 2: A2 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150826_C8798_PHOTO_EN_484109.jpg
Image with caption: "Figure 3: A3 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150826_C8798_PHOTO_EN_484111.jpg
Kin Communications, Tel: 604 684 6730, Toll free 1 866 684 6730, Email: [email protected], Website: http://www.nexgenenergy.ca
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