NexGen Energy Ltd. - Final Assays from the Winter 2015 Program - Additional High Grade Uranium Mineralization Confirmed at Arrow and Bow
VANCOUVER, June 30, 2015 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to report the final assays from the highly successful winter program on our Rook I property, Athabasca Basin, Saskatchewan.
High grade mineralization has been confirmed by assays in the A2 core by angled holes AR-15-43a and AR-15-45b. Broad mineralization was also encountered in the A3 shear, which remains largely untested. Assay results for the Bow discovery are also reported herein, where the presence of uranium mineralization has been confirmed approximately 3.7 km to the northeast of the Arrow zone. The Arrow zone assays are presented in Table 1, a plan map is shown in Figure 1, and long sections of the A2 and A3 high grade cores are shown in Figure 2 and Figure 3. Assays from the Bow discovery are in Table 2, which is accompanied by a plan map in Figure 4.
Highlights:
- AR-15-45b confirms the presence of broad, high grade uranium mineralization in the A2 shear between AR-15-41 and AR-15-44b intersecting 37.5 m at 2.46% U3O8 (403.0 to 440.5 m which included 16.5 m at 5.34% U3O8 (417.5 to 434.0 m);
- AR-15-43a intersected uranium mineralization in the A2 shear that consisted of 25.5 m at 1.43% U3O8 (437.0 to 462.5 m);
- The Arrow zone is currently 515 m by 215 m with the vertical extent of mineralization commencing from 100 m and extending down to 920 m, and is open in all directions (a 90 second 3D video of Arrow generated from Leapfrog is available for viewing on the Company website);
- Uranium mineralization confirmed at the Bow discovery, where drilling is currently focused to the northeast on land;
- Five rigs are now turning at Rook I as part of the 25,000 m, $9 Million summer drill program which commenced on June 8, 2015
- The Company is well financed with working capital of $30 Million
Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented "Another strong set of assays has again shown us just how much untapped potential there is at the Arrow zone. These results compliment the results of AR-15-44b. The high grade A2 core is consistently returning high grade over wide intercepts as we rapidly develop this high impact portion of Arrow. In addition, the confirmation of uranium mineralization at the Bow discovery is encouraging and highlights the prospectivity of the Patterson Conductor corridor and the broader Rook I property".
Leigh Curyer, Chief Executive Officer commented, "The winter program has been a phenomenal success and exceeded our most optimistic objectives. The results from the winter season have set a new platform for the expanded five drill rig, 25,000 m summer program, which is now fully operational. We look forward to delivering the results from the program periodically throughout the summer leading to an initial resource estimate by Q1 2016."
| Table 1: Arrow Zone Assay Results | ||||||||||||||||
| Drill Hole | Athabasca Group - | SRC Geoanalytical Results | ||||||||||||||
| Hole ID | Azimuth | Dip | Total | From (m) | To (m) | Interval | U3O8 (wt%) | |||||||||
| AR-15-42a | 140 | -75 | 819.00 | 108.50 | 140.00 | 152.50 | 12.50 | 0.02 | ||||||||
| 163.50 | 165.00 | 1.50 | 0.02 | |||||||||||||
| 167.00 | 167.50 | 0.50 | 0.01 | |||||||||||||
| 177.50 | 179.50 | 2.00 | 0.03 | |||||||||||||
| 181.50 | 195.50 | 14.00 | 0.02 | |||||||||||||
| 238.00 | 243.00 | 5.00 | 0.02 | |||||||||||||
| 277.00 | 295.50 | 18.50 | 0.06 | |||||||||||||
| 302.00 | 311.50 | 9.50 | 0.02 | |||||||||||||
| 403.00 | 412.00 | 9.00 | 0.03 | |||||||||||||
| 447.00 | 467.00 | 20.00 | 0.05 | |||||||||||||
| 487.50 | 503.50 | 16.00 | 0.04 | |||||||||||||
| 644.00 | 655.50 | 11.50 | 0.61 | |||||||||||||
| 679.50 | 686.50 | 7.00 | 0.12 | |||||||||||||
| 703.00 | 703.50 | 0.50 | 4.70 | |||||||||||||
| 708.50 | 709.50 | 1.00 | 3.12 | |||||||||||||
| 734.50 | 735.50 | 1.00 | 0.20 | |||||||||||||
| AR-15-43a | 140 | -75 | 894.50 | 113.10 | 345.00 | 358.50 | 13.50 | 0.04 | ||||||||
| 362.50 | 420.00 | 57.50 | 0.07 | |||||||||||||
| 437.00 | 462.50 | 25.50 | 1.43 | |||||||||||||
| 592.50 | 606.00 | 13.50 | 0.06 | |||||||||||||
| 657.00 | 657.50 | 0.50 | 0.17 | |||||||||||||
| 680.00 | 681.00 | 1.00 | 0.06 | |||||||||||||
| 684.00 | 698.00 | 14.00 | 0.04 | |||||||||||||
| 713.50 | 715.00 | 1.50 | 0.09 | |||||||||||||
| 827.50 | 828.50 | 1.00 | 0.03 | |||||||||||||
| 835.00 | 835.50 | 0.50 | 0.07 | |||||||||||||
| 846.00 | 847.50 | 1.50 | 0.02 | |||||||||||||
| AR-15-45b | 140 | -75 | 888.90 | 113.80 | 391.00 | 399.00 | 8.00 | 0.06 | ||||||||
| 403.00 | 440.50 | 37.50 | 2.46 | |||||||||||||
| including | 417.50 | 434.00 | 16.50 | 5.34 | ||||||||||||
| 443.00 | 477.00 | 34.00 | 0.12 | |||||||||||||
| 485.00 | 502.00 | 17.00 | 0.05 | |||||||||||||
| 587.50 | 588.00 | 0.50 | 0.06 | |||||||||||||
| 591.00 | 610.50 | 19.50 | 0.04 | |||||||||||||
| 613.00 | 695.00 | 82.00 | 0.09 | |||||||||||||
| 698.00 | 708.00 | 10.00 | 0.14 | |||||||||||||
| 710.50 | 713.50 | 3.00 | 0.19 | |||||||||||||
| 718.00 | 718.50 | 0.50 | 0.03 | |||||||||||||
| 726.50 | 735.50 | 9.00 | 0.12 | |||||||||||||
| 754.00 | 774.00 | 20.00 | 0.23 | |||||||||||||
| 782.00 | 783.00 | 1.00 | 0.02 | |||||||||||||
| 787.50 | 799.00 | 11.50 | 0.43 | |||||||||||||
| 803.00 | 831.50 | 28.50 | 0.39 | |||||||||||||
| 839.00 | 840.00 | 1.00 | 0.74 | |||||||||||||
| 852.00 | 853.00 | 1.00 | 1.99 | |||||||||||||
| 858.00 | 859.00 | 1.00 | 0.29 | |||||||||||||
Composite parameters:
- Minimum thickness 0.5 m downhole
- Cutoff grade 0.01% U3O8 (weight %)
- Maximum internal dilution 2.00 m downhole
- U3O8 analyzed by ICP-OES at SRC laboratories, Saskatoon
- All depths and intervals are meters downhole
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.
| Table 2: Bow Discovery Assay Results | |||||||||||||||
| Drill Hole | Athabasca Group - | SRC Geoanalytical Results | |||||||||||||
| Hole ID | Azimuth | Dip | Total | From (m) | To (m) | Interval | U3O8 (wt%) | ||||||||
| BO-15-01 | 360 | -70 | 412.50 | 108.50 | No Significant Intersections | ||||||||||
| BO-15-02 | 360 | -70 | 426.00 | 120.00 | 202.00 | 205.00 | 3.00 | 0.06 | |||||||
| BO-15-03 | 320 | -70 | 301.00 | 108.50 | No Significant Intersections | ||||||||||
| BO-15-04 | 360 | -70 | 324.00 | 120.40 | No Significant Intersections | ||||||||||
| BO-15-05 | 360 | -70 | 300.00 | 87.60 | No Significant Intersections | ||||||||||
| BO-15-06 | 320 | -70 | 423.00 | 116.00 | No Significant Intersections | ||||||||||
| BO-15-07 | 360 | -70 | 258.00 | 108.30 | No Significant Intersections | ||||||||||
| BO-15-08 | 320 | -70 | 285.00 | 119.00 | No Significant Intersections | ||||||||||
| BO-15-09 | 320 | -70 | 463.00 | 112.00 | No Significant Intersections | ||||||||||
| BO-15-10 | 360 | -70 | 359.70 | 109.70 | 204.50 | 214.00 | 9.50 | 0.20 | |||||||
| including | 210.00 | 211.00 | 1.00 | 1.44 | |||||||||||
| BO-15-11 | 360 | -70 | 393.00 | 115.25 | No Significant Intersections | ||||||||||
| BO-15-12 | 360 | -75 | 332.00 | 115.40 | No Significant Intersections | ||||||||||
| BO-15-13 | 320 | -70 | 363.50 | 124.60 | 233.50 | 234.00 | 0.50 | 0.07 | |||||||
| 244.00 | 245.00 | 1.00 | 0.04 | ||||||||||||
| BO-15-14 | 320 | -70 | 544.00 | 109.90 | No Significant Intersections | ||||||||||
Composite parameters:
- Minimum thickness 0.5 m downhole
- Cutoff grade 0.01% U3O8 (weight %)
- Maximum internal dilution 2.00 m downhole
- U3O8 analyzed by ICP-OES at SRC laboratories, Saskatoon
- All depths and intervals are meters downhole
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 uranium industry professionals with a successful track record in the discovery of world class uranium deposits and in developing projects through discovery to production.
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 in February 2014 and Bow Discovery in March 2015.
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