EDITOR: | March 23rd, 2015

NexGen Significantly Expands High Grade Mineralization within A2 and A3 at the Arrow Zone with Best Angled Hole to Date

| March 23, 2015 | No Comments
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NexGen-Energy-200x125March 23, 2015 (Source: CNW) — NexGen Energy Ltd. (TSX-V: NXE) (“NexGen” or the “Company”) is pleased to announce ongoing results from our winter 2015 drilling program from our 100% owned Rook I property, Athabasca Basin, Saskatchewan.  The high grade cores within A2 and A3 have been significantly expanded by angled drill holes AR-15-39w1 (wedged hole) and AR-15-41.  Angled drill hole AR-15-40b has intersected off-scale (>10,000 to 50,000 cps) radioactivity on the northeast edge of the Arrow zone, which is approximately 100 m northeast from off-scale radioactivity in AR-14-05 (29.0 m at 1.04% U3O8).

As previously mentioned in the February 24th, 2015 news release, internal nomenclature for the Arrow zone has been developed, and is based on the three prominent northeast to southwest trending structures that are associated with mineralization at Arrow.  The A1 (northernmost) to A3 (southernmost) mineralized shears are shown in Figure 1, and have been designated to assist with better describing the multiple high grade sections within the Arrow zone.

Highlights:

  • Angled drill hole AR-15-41 intersected 205.20 m total composite mineralization including 24.52 m off-scale radioactivity (>10,000 to >61,000 cps) within a 439.0 m section (384.5 to 823.5 m).  Mineralization intersected in the A2 and A3 shears show true widths of approximately 27.5 m and 78.6 m, respectively;
  • Angled drill hole AR-15-39w1 intersected 124.5 m total composite mineralization including 8.35 m off-scale radioactivity (>10,000 to 53,000 cps) within a 514.5 m section (438.0 to 952.5 m), which has extended mineralization at Arrow to vertical depths ranging from 100 to 905 m.  Mineralization intersected in the A2 and A3 shears show true widths of approximately 22.1 m and 61.5 m, respectively;
  • Angled drill hole AR-15-40b intersected 15.0 m total composite mineralization including 1.3 m off-scale radioactivity (>10,000 to 50,000 cps) within a 321.5 m section (373.0 to 694.5 m), which delineates Arrow with off-scale radioactivity at its defined northeastern limit;
  • 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 27.5 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 defined by an area of 515 x 215 m with the vertical extent of mineralization commencing from 100 to 905 m, and it remains open in all directions and at depth.
  • 40 of 42 drill holes completed at Arrow to date have intersected uranium mineralization (as defined by uranium assay or the presence of >500 cps radioactivity using an RS-125 gamma spectrometer).
  • A fourth drill rig was mobilized during the month onto the Rook I property.

Garrett Ainsworth, NexGen’s Vice-President, Exploration and Development, commented “The high grade sections of the A2 and A3 shears are taking shape beautifully into what is heading towards a world class uranium asset in the southwest Athabasca Basin.  Initial testing of the A3 shear with drill holes AR-15-39, -39w1, and -41 shows A3 is significantly larger in size than A2 and just as mineralized.  This coupled with the successful strike of off-scale radioactivity with AR-15-40b at the current northeast edge of Arrow, strongly suggests that Arrow will continue to grow to the northeast.”

Leigh Curyer, Chief Executive Officer commented, “The team’s confidence in drilling large step outs has well and truly been rewarded in consistently hitting wide zones of mineralization with high grade. The dimensions of Arrow are expanding significantly with every hole, whilst gaining a solid understanding on the high grade core zones within the project. The rate of development is unprecedented and confidently expected to continue as we develop Arrow and the regional targets on the Rook I property. I would like to take the opportunity on behalf of the Company to acknowledge the outstanding work of our drill contractor, Aggressive Drilling. Aggressive have proven to be amongst the elite drill contractors based on their technical expertise to handle challenging conditions, and setting wedges seamlessly whilst being committed to high standards in health, safety, and environment during our ongoing winter campaign.”

At Arrow, a total of 8,206.9 m has now been reported on from 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.  A cross section on L4440N shows the true width of the A2 and A3 shears in Figure 4.  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 –
Basement
Unconformity Depth
(m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From (m)

To (m)

Width
(m)

CPS Range

AR-15-39w1

143

-70

984.00

n/a

438.00

438.50

0.50

<500 –  580

444.00

444.50

0.50

<500 –  700

447.50

448.00

0.50

<500 –  1100

451.50

457.00

5.50

<500 –  3000

537.00

537.50

0.50

<500 –  2100

544.50

545.50

1.00

<500 –  3800

582.00

588.50

6.50

<500 –  2600

608.00

615.00

7.00

<500 –  40000

627.00

646.50

19.50

<500 –  53000

650.00

653.50

3.50

<500 –  11000

725.00

725.50

0.50

<500 –  1000

753.50

759.00

5.50

<500 –  40000

775.00

780.50

5.50

<500 –  3700

783.00

783.50

0.50

<500 –  42000

798.00

801.00

3.00

<500 –  2200

819.50

828.00

8.50

<500 –  50000

832.00

840.00

8.00

<500 –  14000

842.50

846.00

3.50

<500 –  5000

848.50

852.00

3.50

<500 –  12000

854.50

890.00

35.50

<500 –  51000

917.50

918.00

0.50

<500 –  800

936.00

937.00

1.00

<500 –  1600

943.00

944.50

1.50

<500 –  22000

950.00

952.50

2.50

<500 –  10000

AR-15-40b

140

-70

852.00

99.60

373.00

373.50

0.50

<500 –  900

557.00

557.50

0.50

500 –  8000

596.00

603.50

7.50

<500 –  50000

606.00

606.50

0.50

<500 –  1700

677.00

677.50

0.50

<500 –  600

682.50

685.00

2.50

<500 –  5500

687.50

688.50

1.00

<500 –  4000

692.50

694.50

2.00

<500 –  6000

AR-15-41

140

-75

885.00

109.70

384.50

390.00

5.50

<500 –  4500

392.50

400.50

8.00

<500 –  1500

409.50

436.50

27.00

<500 –  >61000

441.00

457.00

16.00

<500 –  2100

464.00

464.50

0.50

<500 –  1000

480.50

484.00

3.50

<500 –  3000

514.00

515.50

1.50

<500 –  1200

600.00

603.50

3.50

<500 –  2000

606.50

607.00

0.50

<500 –  550

611.00

693.00

82.00

<500 –  47000

696.00

704.00

8.00

<500 –  18000

708.00

716.00

8.00

<500 –  36000

727.00

731.00

4.00

<500 –  22000

734.50

736.00

1.50

<500 –  55000

739.10

759.50

20.40

<500 –  52000

762.20

764.50

2.30

<500 –  27000

768.50

772.50

4.00

<500 –  30000

778.00

780.00

2.00

<500 –  12000

797.00

798.00

1.00

<500 –  38000

806.50

811.50

5.00

<500 –  8200

822.50

823.50

1.00

<500 –  25000

Parameters:

  • 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

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-15-39w1:

Hole AR-15-39w1 was wedged from pilot hole AR-15-39 (16.75 m of off-scale radioactivity; assays pending) at a depth of 150.0 m, and was designed to test the A2 and A3 shears at 15 m and 25 m southwest step-outs, respectively.

The wedge was set below the unconformity in the pilot hole and intersected basement lithologies which consisted largely of semipelitic gneiss to granofel, and locally graphitic pelitic gneiss and mylonite (the A1 to A3 shears). The hole successfully intersected widespread weak to strongly anomalous radioactivity and visible mineralization associated with the A2 and A3 shears that was observed as 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 124.5 m including 8.35 m of off-scale radioactivity (>10,000 to 53,000 cps) was intersected within a 514.5 m section (438.0 to 952.5 m; measured from the pilot hole collar) before the hole was terminated at 984.0 m.

AR-15-40b:

Hole AR-15-40b was drilled as an angled (140° azimuth, -70° dip) 100 m northeast step-out from AR-14-05 (29.0 m at 1.04% U3O8), and is located at the previously defined northeast edge of the Arrow zone, which is now wide open with off-scale radioactivity.

The hole intersected extensive unconsolidated Athabasca Group sandstone with poor recovery, where only 0.6 m of bleached sandstone and basal conglomerate was recovered above the unconformity at 99.6m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and locally graphitic pelitic gneiss and mylonite (the A1 to A3 shears). The hole successfully intersected weak to strongly anomalous radioactivity within both the A2 and A3 shears that was associated with veins, worm rock-style, chemical solution fronts, blebs, and flecks of pitchblende. A total composite mineralization of 15.0 m including 1.3 m of off-scale radioactivity (10,000 to 50,000 cps) was intersected within a 321.5 m section (373.0 to 694.5 m). The hole was terminated at a depth of 852.0 m and has extended previously encountered off-scale mineralization 100 m northeast from AR-14-05 to the northeast edge of the Arrow zone.

AR-15-41:

Hole AR-15-41 was drilled at an angled orientation (-75° dip) to the southeast (140° azimuth), and was designed to test the A2 shear 75 m up dip from AR-15-34b (70.0 m at 2.20% U3O8) and the A3 shear between AR-15-39 (16.75 m of off-scale radioactivity; assays pending) and AR-14-13 (4.6 m at 5.3% U3O8).

The hole intersected heavily bleached Athabasca Group sandstones between 102.0 m and the unconformity at 109.7 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and locally graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected widespread weak 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 205.2 m including 24.52 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 439.0 m section (384.5 to 823.5 m) before the hole was terminated at 885.0 m.  Hole AR-15-41 intersected the strongest and most extensive radioactivity of any angled hole drilled at the Arrow Zone to date.

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 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.

Leigh Curyer,
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.

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/20150323_C2387_PHOTO_EN_13455.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/20150323_C2387_PHOTO_EN_13456.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/20150323_C2387_PHOTO_EN_13457.jpg

Image with caption: “Figure 4: Cross Section of L4440N (CNW Group/NexGen Energy Ltd.)”. Image available at: http://photos.newswire.ca/images/download/20150323_C2387_PHOTO_EN_13458.jpg


Raj Shah

Editor:

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>


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