NexGen Assays Return 50.0m at 12.01% U3O8 Including 18.0m at 20.55% U3O8 in Hole AR-15-49c2
VANCOUVER, Sept. 8, 2015 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to report assay results for six angled holes from the recently expanded summer 2015 drilling program on our 100% owned Rook I property, Athabasca Basin, Saskatchewan.
Hole AR-15-49c2 has delivered substantial continuous high-grade uranium mineralization in the A2 shear similar to that encountered in hole AR-15-44b (see News Release dated June 15, 2015) and at shallower depth. Both holes are amongst the best uranium intersections drilled in the Athabasca Basin. In addition, hole AR-15-48c1 has returned broad and extensive uranium mineralization in both the A2 and A3 shears.
Highlights:
AR-15-49c2
- AR-15-49c2 returns 50.0 m at 12.01% U3O8 (435.5 to 485.5 m) including 18.0 m at 20.55% U3O8 (456.0 to 474.0 m) and 4.5 m at 40.64% U3O8 (465 to 469.5 m) in the A2 shear;
- Assay results continue to show that Arrow is a world-class discovery by returning a continuous composite grade thickness ("GT") of 605 (this is the second hole at Arrow with a continuous GT over 600);
- Returned the highest grade assay result from the Arrow zone to date at 76.0% U3O8 over 0.50 m (466.5 to 467.0 m);
- Located 41 m up-plunge to the northeast in the A2 shear from AR-15-44b (56.5 m at 11.55% U3O8).
AR-15-48c1
- AR-15-48c1 returns 60.0 m at 0.91% U3O8 (409.5 to 469.5 m) including 12.5 m at 3.09% U3O8 (428.5 to 441.0 m) in the A2 shear and, 24.0 m at 5.43% U3O8 (595.5 to 619.5 m) including 10.5 m at 10.12% U3O8 (597.5 to 608 m) in the A3 shear;
- Located 81 m up-dip and to the southwest in the A2 shear from AR-15-44b.
- The Arrow zone which is entirely basement hosted currently covers an area of 645 m by 215 m with a vertical extent of mineralization commencing from 100 to 920 m, and remains open in all directions and at depth. Geochemical results continue to show highly anomalous gold values and very low deleterious metals content throughout the Arrow zone;
- Five rigs continue to turn on the Arrow Zone as part of the 2015 summer drill program recently expanded to 30,000 m;
- The Company has cash on hand of approximately $23M.
Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented "The assay results from drill hole AR-15-49c2 are very significant for the Arrow zone as it highlights intensive mineralization 41 m up-plunge and northeast from hole -44b. The high grade mineralization within both of these world-class holes is characterized by significant accumulations of massive pitchblende that have rock densities ranging from 2.5 to over 5 g/cm3. The implication of such densities and high grade mineralization across this area in the A2 together with the broadening high grade mineralization in A3 is very positive for the resource calculation of Arrow slated for the first half of 2016."
Leigh Curyer, Chief Executive Officer commented, "AR-15-49c2 is another world class hole at the Arrow zone. Our large step outs continue to deliver amazing results on any metric for a uranium discovery in the Athabasca Basin. This has all been accomplished in comparatively very few holes and low cost for a discovery of this nature and it's a credit to the entire team. We have a significant amount of additional work to complete before we can begin to determine the eventual scale of Arrow. With a treasury of $23M, our current and future programs throughout 2016 are well funded to achieve that goal and develop this rapidly emerging world class uranium discovery."
Assays are included in Table 1. A plan map and the A2 and A3 long sections are shown in Figures 1 to 4.
Table 1: Arrow Zone Assay Results
| Drill Hole | Athabasca | SRC Geoanalytical Results | Grade (U3O8%) | ||||||
| Hole ID | Azimuth | Dip | Total | From | To (m) | Interval | U3O8 | ||
| AR-15-46 | 140 | -75 | 741.00 | 93.00 | 266.50 | 288.00 | 21.50 | 0.24 | 5.24 |
| 348.50 | 353.50 | 5.00 | 0.11 | 0.56 | |||||
| 395.50 | 414.00 | 18.50 | 0.71 | 13.19 | |||||
| AR-15-47 | 140 | -75 | 768.00 | 93.60 | 306.00 | 340.50 | 34.50 | 0.07 | 2.47 |
| 348.00 | 353.00 | 5.00 | 0.06 | 0.31 | |||||
| 374.50 | 375.50 | 1.00 | 0.06 | 0.06 | |||||
| 489.50 | 490.50 | 1.00 | 0.19 | 0.19 | |||||
| AR-15-48c1 | 146 | -73.5 | 768.00 | 110.20 | 409.50 | 469.50 | 60.00 | 0.91 | 54.73 |
| including | 428.50 | 441.00 | 12.50 | 3.09 | |||||
| 474.50 | 488.50 | 14.00 | 0.05 | 0.67 | |||||
| 491.00 | 495.00 | 4.00 | 0.03 | 0.13 | |||||
| 498.00 | 500.50 | 2.50 | 0.06 | 0.16 | |||||
| 503.00 | 507.00 | 4.00 | 0.05 | 0.21 | |||||
| 519.00 | 521.00 | 2.00 | 0.02 | 0.05 | |||||
| 548.00 | 549.50 | 1.50 | 0.04 | 0.07 | |||||
| 554.50 | 557.50 | 3.00 | 0.07 | 0.22 | |||||
| 560.50 | 561.50 | 1.00 | 0.14 | 0.14 | |||||
| 565.00 | 570.00 | 5.00 | 0.02 | 0.12 | |||||
| 580.00 | 582.50 | 2.50 | 0.05 | 0.13 | |||||
| 585.50 | 591.00 | 5.50 | 0.21 | 1.15 | |||||
| 595.50 | 619.50 | 24.00 | 5.43 | 130.37 | |||||
| including | 597.50 | 608.00 | 10.50 | 10.12 | |||||
| 626.50 | 629.00 | 2.50 | 2.45 | 6.14 | |||||
| 637.00 | 639.00 | 2.00 | 0.34 | 0.67 | |||||
| 642.00 | 642.50 | 0.50 | 3.42 | 1.71 | |||||
| 649.00 | 654.00 | 5.00 | 0.68 | 3.40 | |||||
| 658.00 | 659.50 | 1.50 | 0.67 | 1.01 | |||||
| 662.00 | 669.00 | 7.00 | 0.06 | 0.41 | |||||
| 675.00 | 684.00 | 9.00 | 0.50 | 4.47 | |||||
| 700.00 | 700.50 | 0.50 | 13.70 | 6.85 | |||||
| 713.00 | 720.50 | 7.50 | 0.16 | 1.20 | |||||
| 755.50 | 756.00 | 0.50 | 0.03 | 0.01 | |||||
| AR-15-49c1 | 137 | -73.6 | 504.00 | 110.00 | 398.50 | 408.50 | 10.00 | 0.11 | 1.10 |
| 412.00 | 421.50 | 9.50 | 0.15 | 1.47 | |||||
| 423.00 | 425.50 | 2.50 | 0.05 | 0.13 | |||||
| 447.00 | 454.00 | 7.00 | 0.07 | 0.50 | |||||
| 457.00 | 458.00 | 1.00 | 0.05 | 0.05 | |||||
| 459.50 | 466.00 | 6.50 | 0.03 | 0.21 | |||||
| 471.00 | 472.50 | 1.50 | 0.06 | 0.09 | |||||
| 479.00 | 485.00 | 6.00 | 0.10 | 0.59 | |||||
| 487.50 | 489.00 | 1.50 | 0.04 | 0.06 | |||||
| 492.00 | 493.50 | 1.50 | 0.04 | 0.05 | |||||
| AR-15-49c2 | 137 | -73.6 | 901.00 | 110.00 | 403.50 | 404.50 | 1.00 | 0.03 | 0.03 |
| 426.00 | 495.00 | 69.00 | 8.77 | 604.90 | |||||
| including | 426.00 | 485.50 | 59.50 | 10.13 | |||||
| including | 435.50 | 485.50 | 50.00 | 12.01 | |||||
| including | 456.00 | 474.00 | 18.00 | 20.55 | |||||
| including | 465.00 | 469.50 | 4.50 | 40.64 | |||||
| including | 466.50 | 467.00 | 0.50 | 76.00 | |||||
| 499.00 | 512.00 | 13.00 | 0.04 | 0.57 | |||||
| 534.00 | 534.50 | 0.50 | 0.11 | 0.06 | |||||
| 569.00 | 573.50 | 4.50 | 0.15 | 0.68 | |||||
| 631.50 | 634.00 | 2.50 | 0.10 | 0.24 | |||||
| 639.00 | 649.00 | 10.00 | 0.05 | 0.52 | |||||
| 652.00 | 653.50 | 1.50 | 0.07 | 0.10 | |||||
| 658.50 | 663.50 | 5.00 | 0.09 | 0.44 | |||||
| 666.00 | 677.00 | 11.00 | 0.11 | 1.16 | |||||
| 688.00 | 689.50 | 1.50 | 0.04 | 0.05 | |||||
| 714.00 | 733.00 | 19.00 | 0.06 | 1.19 | |||||
| 739.50 | 744.00 | 4.50 | 0.02 | 0.11 | |||||
| 747.50 | 753.00 | 5.50 | 0.12 | 0.67 | |||||
| 756.00 | 764.00 | 8.00 | 0.04 | 0.33 | |||||
| 775.00 | 776.50 | 1.50 | 0.02 | 0.03 | |||||
| 780.50 | 781.00 | 0.50 | 0.33 | 0.17 | |||||
| 792.50 | 793.00 | 0.50 | 0.02 | 0.01 | |||||
| 797.50 | 798.00 | 0.50 | 0.07 | 0.03 | |||||
| 805.50 | 806.00 | 0.50 | 0.26 | 0.13 | |||||
| 812.50 | 813.50 | 1.00 | 0.78 | 0.78 | |||||
| 818.00 | 819.00 | 1.00 | 0.04 | 0.04 | |||||
| 827.50 | 829.50 | 2.00 | 0.42 | 0.84 | |||||
| 832.00 | 834.00 | 2.00 | 0.40 | 0.81 | |||||
| 849.50 | 850.50 | 1.00 | 0.03 | 0.03 | |||||
| 876.50 | 877.50 | 1.00 | 0.16 | 0.16 | |||||
| AR-15-50 | 140 | -75 | 855.85 | 93.60 | 702.50 | 704.50 | 2.00 | 0.07 | 0.15 |
| 724.50 | 744.00 | 19.50 | 0.47 | 9.09 | |||||
| 750.5 | 760 | 9.5 | 0.07 | 0.68 | |||||
| 763 | 766 | 3 | 0.01 | 0.04 | |||||
| 771 | 780.5 | 9.5 | 0.06 | 0.57 | |||||
Composite parameters:
- Minimum thickness 0.5 m downhole
- Cutoff grade 0.01% U3O8
- Maximum internal dilution 2.00 m downhole
- U3O8 analyzed by ICP-OES at SRC Laboratories, Saskatoon, Saskatchewan
- All depths and intervals are meters downhole, true thicknesses are yet to be determined
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 partial and total digestions, ICP-OES for major and minor elements on a 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 is well-funded and 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