NexGen Energy Ltd.: Strong Radon Anomalies Yield High Priority Drill Target Zone 400m Northeast along Strike from the Arrow Zone
January 20, 2015 (Source: CNW) — NexGen Energy Ltd. (NXE:TSXV) (“NexGen” or the “Company”) is pleased to report on initial results from a radon in lake water survey by RadonEx Exploration Management Ltd. at our 100% owned Rook I property, located in the southwest part of Saskatchewan’s Athabasca Basin.
- A multi-point 480 m long by 20 to 150 m wide radon in lake water anomaly has been discovered 400 m northeast along strike from the Arrow zone (see Figure 1);
- Radon values up to 10.4 pCi/L are in the same range as the radon values that lead to the discovery of the R390E R780E zones at the adjacent PLS property by the Alpha-Fission joint venture (see news release February 19th, 2013);
- This radon anomaly discovery has developed a high priority drill target that will be drilled during the ongoing winter 2015 program;
- Location of this clustered radon anomaly is optimally situated where the southeast dipping VTEM conductor is projected to reach the unconformity.
Garrett Ainsworth, Vice President, Exploration & Development commented, “The results of this radon in lake water survey adds another layer of data that further enhances the prospectivity of this target area situated 400 m northeast along strike from the Arrow zone, which has now become a high priority to drill during this winter program. The results from all geophysical and geochemical surveys conducted to date in this particular area of Rook I, all continue to support that the 4 km strike length northeast of Arrow within the Patterson Conductor Corridor has excellent potential to discover additional zones of basement mineralization, as well as Athabasca sandstone hosted and unconformity-style mineralization.”
Leigh Curyer, Chief Executive Officer commented, “Arrow is currently developing rapidly into a significant resource in its own right. To identify an additional target zone meeting all geophysical and geochemical parameters to justify drilling only 1km north east of Arrow is incredibly exciting for the Company.”
A detailed airborne VTEM Plus and magnetometer survey on 100 m line spacing was flown over the northeast strike extension from the Arrow zone. The Arrow zone is associated with a north-northwest cross-cutting structure, which is interpreted to repeat at least three times within a 4 km section northeast along strike from Arrow (see Figure 2). Favourable magnetic and gravity settings are also associated with these recently located VTEM conductors. As a follow-up to these encouraging VTEM results, a radon in lake water survey is in progress with a focus on these prospective cross-cutting structures.
RadonEx Exploration Management of St. Lazare, Quebec has been contracted to conduct an approximate 1,700 station radon in lake water survey over VTEM conductors beneath Patterson and Beet Lakes. Detailed radon sampling has just begun along an approximate 4 km strike length to the northeast of the Arrow zone with 309 samples recovered thus far. In General, sample location spacing is 20 m apart along lines that are 50 to 100 m apart. Radon results will be released as they become available, and are interpreted.
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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 and basement hosted 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, 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.
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>