NexGen Reports First Assays From Winter Program: Drills Most Continuous High-Grade Uranium Intercept over 2% U3O8 in the A2 Shear at the Arrow Zone
VANCOUVER, March 17, 2015 /CNW/ - NexGen Energy Ltd. (NXE:TSXV) ("NexGen" or the "Company") is pleased to report the assay results for the first four drill holes (angled holes AR-15-33, -34b, and -35, and vertical hole AR-15-36) from the ongoing winter 2015 program at the Arrow zone on the 100% owned Rook I property, Athabasca Basin, Saskatchewan. The results include those from angled drill hole AR-15-34b, which shows continuous, broad, high-grade uranium mineralization within the A2 mineralized shear. Assays are presented in Table 1, a plan map of the Arrow zone is shown in Figure 1, cross and long sections highlighting AR-15-34b are shown in Figures 2 and 3, respectively.
Highlights:
Angled holes
Vertical hole
The Arrow Zone is currently 515 m x 215 m with the vertical extent of mineralization commencing from 100 m and extending down to 820 m. It remains open in all directions and at depth.
Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented "This first set of assays from the winter 2015 drill program at the Arrow zone have exceeded our expectations. The A2 mineralized shear continues to impress us with what is now our widest high grade interval returned to date from angled drill hole AR-15-34b. The high grade uranium core associated with the A2 structure within Arrow is centered on drill hole AR-14-30 (see October 6th, 2014 news release), and is developing at a staggering pace with this important 30 m step-out to the southwest."
Leigh Curyer, CEO commented, "AR-15-34b is the broadest continuous intercept greater than 2% U3O8 to date. Drilling at Arrow will continue to define this high grade zone within the A2 shear and in parallel test the newly discovered high grade zone within the A3 shear (see press release dated February 24, 2015)."
Table 1: Winter 2015 Drill Hole Composited Mineralized Intervals
| Drill Hole | Athabasca Group - Basement Unconformity Depth (m) | SRC Geoanalytical Results | ||||||
| Hole ID | Azimuth | Dip | Total Depth (m) | From (m) | To (m) | Interval (m) | U3O8 (wt%) | |
| AR-15-33 | 320 | -70 | 663.00 | 141.00 | 440.50 | 450.50 | 10.00 | 0.06 |
| 463.00 | 470.50 | 7.50 | 0.06 | |||||
| 473.00 | 476.00 | 3.00 | 0.06 | |||||
| 506.50 | 508.00 | 1.50 | 0.18 | |||||
| 512.50 | 532.00 | 19.50 | 0.06 | |||||
| 548.50 | 561.00 | 12.50 | 0.26 | |||||
| AR-15-34b | 320 | -70 | 798.00 | 130.50
| 396.50 | 397.00 | 0.50 | 0.02 |
| 399.50 | 400.50 | 1.00 | 0.03 | |||||
| 408.00 | 409.00 | 1.00 | 0.04 | |||||
| 414.50 | 415.00 | 0.50 | 0.02 | |||||
| 418.00 | 428.00 | 10.00 | 0.10 | |||||
| 436.00 | 438.50 | 2.50 | 0.06 | |||||
| 441.00 | 442.50 | 1.50 | 0.06 | |||||
| 445.00 | 452.50 | 7.50 | 0.08 | |||||
| 458.00 | 459.00 | 1.00 | 0.01 | |||||
| 462.50 | 464.50 | 2.00 | 0.11 | |||||
| 468.50 | 491.00 | 22.50 | 0.03 | |||||
| 494.00 | 496.50 | 2.50 | 0.02 | |||||
| 508.50 | 518.00 | 9.50 | 0.03 | |||||
| 522.00 | 592.00 | 70.00 | 2.20 | |||||
| 560.50 | 571.50 | 11.00 | 8.95 | |||||
| 596.50 | 602.00 | 5.50 | 0.10 | |||||
| 609.50 | 610.00 | 0.50 | 0.04 | |||||
| 619.90 | 620.90 | 1.00 | 0.03 | |||||
| 630.50 | 631.00 | 0.50 | 0.04 | |||||
| 637.50 | 638.50 | 1.00 | 0.08 | |||||
| 665.50 | 668.00 | 2.50 | 0.08 | |||||
| 672.00 | 675.50 | 3.50 | 0.02 | |||||
| 678.00 | 683.50 | 5.50 | 0.02 | |||||
| 686.50 | 690.50 | 4.00 | 0.06 | |||||
| 693.00 | 693.50 | 0.50 | 0.07 | |||||
| 697.00 | 729.00 | 32.00 | 0.12 | |||||
| 739.00 | 739.50 | 0.50 | 0.10 | |||||
| 763.00 | 764.00 | 1.00 | 0.01 | |||||
| AR-15-35 | 320 | -75 | 660.00 | 117.00 | 355.00 | 356.00 | 1.00 | 0.04 |
| 371.50 | 384.50 | 13.00 | 0.07 | |||||
| 389.50 | 391.50 | 2.00 | 0.03 | |||||
| 394.50 | 413.00 | 18.50 | 0.33 | |||||
| 425.50 | 426.50 | 1.00 | 0.05 | |||||
| 434.00 | 435.00 | 1.00 | 0.04 | |||||
| 438.50 | 439.50 | 1.00 | 0.05 | |||||
| 451.50 | 453.50 | 2.00 | 0.03 | |||||
| 456.00 | 459.00 | 3.00 | 0.02 | |||||
| 461.50 | 466.50 | 5.00 | 0.03 | |||||
| 470.00 | 515.00 | 45.00 | 0.14 | |||||
| 553.50 | 565.50 | 12.00 | 0.49 | |||||
| 568.50 | 569.00 | 0.50 | 0.04 | |||||
| 572.00 | 573.50 | 1.50 | 0.13 | |||||
| AR-15-36 | 320 | -90 | 495.00 | 96.00 | 100.50 | 103.00 | 2.50 | 0.06 |
| 111.00 | 157.00 | 46.00 | 0.06 | |||||
| 160.00 | 161.00 | 1.00 | 0.01 | |||||
| 167.00 | 218.00 | 51.00 | 0.32 | |||||
| 220.50 | 223.00 | 2.50 | 0.04 | |||||
| 236.50 | 237.00 | 0.50 | 0.04 | |||||
| 244.50 | 245.00 | 0.50 | 0.03 | |||||
| 248.00 | 309.50 | 61.50 | 0.10 | |||||
| 319.00 | 339.50 | 20.50 | 0.05 | |||||
| 344.00 | 377.50 | 33.50 | 0.03 | |||||
Composite parameters:
Split core samples were taken systematically, and intervals were submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples were 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 were analyzed for U3O8 by ICP-OES and gold by fire assay.
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 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 Zone, 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
lcuryer@nexgenenergy.ca
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.
SOURCE NexGen Energy Ltd.
Contact
Kin Communications, Tel: 604 684 6730, Toll free 1 866 684 6730, Email: nxe@kincommunications.com, Website: http://www.nexgenenergy.ca