VANCOUVER, Aug. 26, 2014 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to announce ongoing results from the summer 2014 drilling program from the 100% owned portion of the Rook I property, Athabasca Basin, Saskatchewan. Drill hole AR-14-30 is the first vertical drill hole at the Arrow zone, and has returned exceptionally strong mineralization over significant intervals (Figures 1 and 2). AR-14-30 is presently in progress, and was drilled to test the depth extents of high grade mineralization encountered in AR-14-15, which returned the best assays to date at the Arrow zone (see news release August 7th, 2014)
Highlights:
Table 1 has a summary of the mineralized intervals. Photos 1 through 6 show the intense and robust nature of uranium mineralization encountered in drill hole AR-14-30.
Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented "AR-14-30 is a landmark drill hole for the Arrow zone and NexGen, as well as for the new and exciting emergence of the southwest Athabasca uranium district. A drill hole of this magnitude this early into exploration on the Arrow zone enhances our belief that we are onto a significant mineralized system."
Leigh Curyer, CEO commented, "This is an achievement by the NexGen team. AR-14-30 is a significant step forward in such a relatively short space of time in the development of Arrow. Our continued focus to optimize Arrow remains unabated. The geological basis for the Arrow discovery and the implications it has on the prospectivity of our land package."
Table 1: Arrow Zone Drill Hole Data
| Drill Hole |
Athabasca Group - Basement Unconformity Depth (m) |
Handheld Scintillometer Results (RS-125) |
||||||
| Hole ID |
Azimuth |
Dip |
Total Depth (m) |
From (m) |
To (m) |
Width (m) |
CPS Range |
|
| AR-14-30 |
- |
-90 |
637.4* |
94.7 |
298.30 |
300.60 |
2.30 |
<500 - 600 |
| 303.10 |
303.30 |
0.20 |
<500 - 600 |
|||||
| 309.50 |
309.80 |
0.30 |
<500 - 500 |
|||||
| 313.00 |
317.50 |
4.50 |
<500 - 1000 |
|||||
| 321.00 |
323.40 |
2.40 |
<500 - 6000 |
|||||
| 327.50 |
365.40 |
37.90 |
<500 - >10000 |
|||||
| 370.50 |
382.30 |
11.80 |
<500 - 8000 |
|||||
| 419.70 |
423.00 |
3.30 |
<500 - 6500 |
|||||
| 425.30 |
438.15 |
12.85 |
<500 - >10000 |
|||||
| 440.20 |
440.35 |
0.15 |
>10000 |
|||||
| 442.45 |
445.40 |
2.95 |
<500 - 2000 |
|||||
| 447.65 |
463.85 |
16.20 |
<500 - >10000 |
|||||
| 466.50 |
470.80 |
4.30 |
500 - >10000 |
|||||
| 488.85 |
507.90 |
19.05 |
<500 - >10000 |
|||||
| 512.80 |
575.70 |
62.90 |
<500 - >10000 |
|||||
| 580.20 |
586.00 |
5.80 |
<500 - 2000 |
|||||
* drilling in progress
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-125 gamma-ray spectrometer. 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.
DRILL HOLE AR-14-30
Hole AR-14-30 is still in progress at a depth of 637.4 m, and is targeting the extents of high grade mineralization encountered in AR-14-15, which returned 3.42% U3O8 over 22.35 m from 564.00 to 586.35 m, and 1.52% U3O8 over 32.0 m from 594.0 to 626.0 m (see news release August 7th, 2014). Athabasca Group sandstone was intersected from 94.7 m to the unconformity depth of 101.1 m where strong bleaching and desilicification were observed throughout. Basement rocks are composed primarily of semipelitic gneiss with weak to moderate clay, chlorite, and hematite alteration from 101.1 to 297.0 m. Intercalated semipelitic and pelitic gneiss continues from 297.0 m to the current drilling depth of 637.4 m. Abundant graphite content is limited to mylonite identified from 438.5 to 447.0 m and 463.2 to 466.75 m. Minor concentrations of disseminated graphite are present outside of these graphitic mylonite units. Lithology is unrecognizable within higher grade zones of mineralization due to extreme alteration of the host basement rock.
Alteration varies dependent upon the intensity of mineralization. Weak to moderate pale green chlorite (likely sudoite) and clay alteration as well as dravite coated fractures are found associated with flecks and disseminated uranium mineralization (<5000 cps). Moderate to strong clay alteration, and moderate hematite and dark green to black chlorite is present as alteration halos around blebs and stringers of uranium mineralization (>5000 to <10,000 cps). Dravite on fracture surfaces or within veins is also common adjacent to this intensity of mineralization. Disseminated nodules, fracture hosted, vein, wormrock, semi-massive and massive mineralization styles (>10,000 cps) are often surrounded by moderate hematite redox fronts. Moderate to strong dark green to black chlorite and clay is common, although most semi-massive and massive mineralization is hosted in competent rock. Semi-massive to massive mineralized intervals often contain irregular micro-stringers of hematite throughout.
The first interval of semi-massive mineralization occurs from 453.0 to 453.7 m with further occurrences between:
Massive uranium was intersected from 548.7 to 549.8 m, and 551.5 to 555.6 m, and these intervals are entirely black massive uranium with local minor inclusions of hematite micro-stringers.
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 exploration professionals with a track record in the discovery of unconformity-style uranium deposits in Canada.
NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook 1, location of the Arrow Discovery, immediately adjacent to the northeast of the Fission/Alpha Patterson Lake South Discovery, and an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit.
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.
Image with caption: "Figure 1: Arrow Zone - AR-14-30 Drill Hole Location (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5116.jpg
Image with caption: "Figure 2: Arrow Zone - AR-14-30 Cross Section on L4500N (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5117.jpg
Image with caption: "Photo 1: AR-14-30 - Semi-Massive Pitchblende Mineralization from 356.5 to 357.0 m (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5118.jpg
Image with caption: "Photo 2: AR-14-30 - Semi-Massive Pitchblende Mineralization from 431.5 to 432.0 m (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5119.jpg
Image with caption: "Photo 3: AR-14-30 - Semi-Massive Pitchblende Mineralization from 453.0 to 454.0 m (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5120.jpg
Image with caption: "Photo 4: AR-14-30 - Semi-Massive to Massive Pitchblende Mineralization from 543.20 to 556.65 m (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5121.jpg
Image with caption: "Photo 5: AR-14-30 - Semi-Massive Pitchblende Mineralization with Redox Fronts at 540.0 m (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5122.jpg
Image with caption: "Photo 6: AR-14-30 - Massive Pitchblende Mineralization from 551.5 to 552.0 m (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140826_C2811_PHOTO_EN_5123.jpg
SOURCE: NexGen Energy Ltd.
Kin Communications, Tel: 604 684 6730, Toll free 1 866 684 6730, Email: [email protected], Website: http://www.nexgenenergy.ca
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