NexGen Energy Ltd. – AR-15-45b returns highest total composite mineralization of 226.0m to date at Arrow
April 29, 2015 (Source: CNW) — NexGen Energy Ltd. (TSX-V: NXE) (“NexGen” or the “Company”) is pleased to announce results from our last drill hole (AR-15-45b) of the winter 2015 drilling program at our 100% owned Rook I property, Athabasca Basin, Saskatchewan. The high grade cores of the A2 and A3 shears continue to yield wide intervals of high grade uranium mineralization as confirmed by drill hole AR-15-45b.
- Angled drill hole AR-15-45b intersected 226.0 m total composite mineralization including 9.80 m off-scale radioactivity (>10,000 to 54,000 cps) within a 468.0 m section (391.0 m to 859.0 m);
- The high grade core of the A2 shear is thus far defined by an 88 m strike length, 340 m vertical extent, and true widths ranging from approximately 11.0 to 48.3 m;
- The high grade core of the A3 shear is thus far defined by a 73 m strike length, 420 m vertical extent, and true widths ranging from approximately 30.0 to 78.6 m;
- The Arrow zone is currently at an area of 515 x 215 m with the vertical extent of mineralization commencing from 100 to 920 m, and it remains open in all directions and at depth;
- Upon the completion of the winter 2015 drill program, 44 of 46 drill holes completed at Arrow have intersected uranium mineralization (as defined by uranium assay or the presence of >500 cps radioactivity using an RS-125 gamma spectrometer).
- Assay results of 8 holes drilled at Arrow are pending
- Drilling will re-commence early June 2015 with five rigs for a planned total of 25,000 m.
Garrett Ainsworth, NexGen’s Vice-President, Exploration and Development, commented “These results from drill hole AR-15-45b confirmed and exceeded our expectations on the robust nature of the A2 and A3 shears. We look forward to receiving the pending assays, and to recommence drilling with the team well advanced in the planning for the summer 2015 drill program, which is scheduled to commence in the first week of June.”
Leigh Curyer, Chief Executive Officer commented, “The completion of drill hole AR-15-45b wraps up a successful winter 2015 drill program. The delivered results indicate Arrow is developing very expediently into a significant resource. In addition, the program delivered the new Bow discovery 3.7km north east of Arrow. I would like to take the opportunity to congratulate all the NexGen employees and contractors involved in contributing to a very successful winter 2015 drilling season. The Company is on track to deliver an initial resource for Arrow prior to year end 2015. ”
At Arrow, a total of 11,820.3 m was completed during the winter 2015 drill program. Drill hole locations are shown in Figure 1, and long sections illustrating the mineralized pierce points within the A2 and A3 shears at the Arrow zone are shown in Figures 2 and 3, respectively. Drill hole details and scintillometer (handheld RS-120) results are summarized in Table 1.
|Table 1: Arrow Zone Drill Hole Data|
|Drill Hole||Athabasca Group-
|Handheld Scintillometer Results (RS-120)|
|(m)||From (m)||To (m)||Width (m)||CPS Range|
|AR-15-45b||140||-75||888.9||113.8||391||396.5||5.5||<500 – 1500|
|403||439||36||<500 – 54000|
|443.5||444||0.5||<500 – 550|
|447||467||20||<500 – 5400|
|489||489.5||0.5||<500 – 600|
|495||501.5||6.5||<500 – 1200|
|576.5||577||0.5||<500 – 600|
|587.5||588||0.5||<500 – 1000|
|591||596||5||<500 – 5500|
|603.5||604.5||1||<500 – 2200|
|607.5||609.5||2||<500 – 2500|
|613||684.5||71.5||<500 – 12000|
|688||695||7||<500 – 2300|
|700||708||8||<500 – 5100|
|711||713.5||2.5||<500 – 12000|
|718||718.5||0.5||<500 – 550|
|727||735.5||8.5||<500 – 13000|
|754.5||756.5||2||<500 – 500|
|760||774||14||<500 – 5600|
|788.5||798||9.5||<500 – 21000|
|803||804.5||1.5||<500 – 1500|
|807.5||817.5||10||<500 – 33000|
|821||831.5||10.5||<500 – 29000|
|839.5||840||0.5||<500 – 6200|
|852||853||1||<500 – 30000|
|858||859||1||<500 – 8300|
- 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
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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
Hole AR-15-45b was drilled at an angled orientation (-75° dip) to the southeast (140° azimuth). It was designed to test the A2 shear at a 50 m up-plunge step-out from AR-15-44b (40.45 m of total composite off-scale radioactivity; assays pending) and the A3 shear at a 25m down-plunge step-out from AR-15-41 (24.52 m of total composite off-scale radioactivity; assays pending).
The hole intersected pervasively bleached and strongly desilicified Athabasca Group sandstones from 105.1 m to the unconformity at 113.8 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 visible semi-massive to massive, veins, worm rock-style, chemical solution fronts, stringers, blebs, and flecks of pitchblende and coffinite mineralization with rare secondary uranium minerals. A total composite mineralization of 226.0 m including 9.80 m of off-scale radioactivity (>10,000 to 54,000 cps) was intersected within a 468.0 m section (391.0 to 859.0 m) before the hole was terminated at 888.9 m.
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 basement and 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 I, location of the Arrow Discovery, immediately adjacent to the northeast of the Fission/Alpha JV 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.
Chief Executive Officer
NexGen Energy Ltd.
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.
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/20150429_C4162_PHOTO_EN_15886.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/20150429_C4162_PHOTO_EN_15887.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/20150429_C4162_PHOTO_EN_15888.jpg
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