NexGen Energy Ltd.: Rook I Aerial Survey Identifies 5 Zones of Elevated U-Channel Radiometrics
December 2, 2013 (Source: Marketwired) — NexGen Energy Ltd (“NexGen” or “the Company”) (TSX VENTURE:NXE) is pleased to announce initial results from the recently acquired aerial geophysical surveys along its southern Athabasca Basin margins, at the Rook and Dufferin areas (see Fig 1-5).
- At least 5 individual zones of elevated U-channel radiometrics have been identified along the Rook I claim block area (see Fig 1).
- Two of these zones are proximal to the area at Rook I drilled during the summer 2013 program, (see Fig 2 – U1 and U2). U1 and U2 are areas of focus for the upcoming winter drilling program commencing in January 2014.
- Regional and local basement structures are evident in the aeromagnetic data.
Ground follow up of the U-channel zones is planned for next summer season to identify the sources of the elevated radiometrics. This will involve detailed ground radiometric surveys, and boulder mapping and sampling.
Leigh Curyer, President and CEO states, “Further detailed interpretation is ongoing with the data being integrated with the summer 2013 drill program results. We have the most dominant land position along the shallower sections of the south-western edge of the Athabasca Basin with multiple areas of exploration focus. We are well capitalized, and look forward to finalizing our exploration strategy at Rook I for 2014, which will incorporate following up on specific mineralized drill holes together with existing geophysical targets best accessible during the winter.”
Key Survey Information
The high sensitivity aeromagnetic, VLF-EM, and radiometric surveys were performed by Goldak Airborne Surveys (Goldak) on behalf of NexGen between June 20 and July 17, 2013. Seventeen flights, including calibrations and reflights, were required to complete the survey blocks. A total of 5,772 line kilometres of high resolution magnetic, VLF and radiometric data were collected, processed and plotted. The traverse lines were flown 117°/307° on a spacing of 200 metres, with perpendicular control lines flown at a separation of 2000 metres, and a nominal 120 metres mean terrain clearance. Data is being interpreted by Koch Geophysical Consultants of Saskatoon.
Get our daily investorintel update
The Rook block survey covered claims in the Rook 1, Bishop 1, Bishop 2, and parts of R-Seven and Meanwell groups. The Dufferin survey covered claims in the Dufferin and Sandhill Lake groups.
For each area, the magnetic results are assisting in interpretation of the basement lithologies and structures. The 4-channel radiometric data (total count, uranium, thorium, and potassium channels) are being interpreted to assist in discovery of radioactive boulder trains which may exist in the region. The outcropping and subcropping uraniferous boulder trains at Fission/Alpha’s Patterson Lake South project are detectable by detailed aeroradiometric survey.
Detailed interpretation is ongoing, and ground follow-up is planned. The interpreted data will be additional to that obtained from the current summer drilling program at Rook 1, and will be invaluable in planning the proposed winter drilling programs.
For both survey blocks, maps shown include the total magnetic intensity (TMI) data, and the combined ternary radiometric data incorporating responses from the uranium, thorium, and potassium channels. Readers need to be aware that magnetic orientations and radiometric responses may result from a range of mineral concentrations within the overlying glacial cover sequence, rather than from basement lithologies and structures. Detailed ground examination is required.
To view the figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/915065_FIGS.pdf.
Andrew Browne, FAusIMM(CP), NexGen’s Vice President, Exploration & Development, is a “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the contents of this news release.
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.
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. Further, mineralization on properties held by third parties adjacent to NexGen’s properties (including Patterson Lake South) are not necessarily indicative of mineralization on NexGen’s properties.
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.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>