Hole AR-15-58c1 Returns Highest Grade Assays to Date at Arrow with 11.0m at 30.61% U3O8 Including 3.0m at 72.02% U3O8 and 0.5m at 80.52% U3O8
VANCOUVER, Oct. 22, 2015 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to report assay results for six angled holes from the on-going summer 2015 drilling program on our 100% owned Rook I property, Athabasca Basin, Saskatchewan.
All six holes reported have returned strong assay results over significant widths. Assay results from hole AR-15-58c1 which was drilled 53 m up-dip and southwest of hole AR-15-44b (56.5m at 11.55% U3O8) have confirmed some of the strongest radioactivity results associated with ample dense massive to semi-massive pitchblende in the higher grade A2 sub-zone, which remains open to the southwest. Furthermore, assays from hole -58c1 have also confirmed the presence of significant uranium mineralization in the A4 shear.
Holes AR-15-48c2, AR-15-48c3, AR-15-53c1 and AR-15-53c3 have all returned widespread uranium mineralization in the A2 shear. Hole AR-15-52, which was a 210 m southwest step-out from hole -44b returned strong assays in the A3 shear.
Drill hole locations, and the A2 and A3 long sections are shown in Figures 1 to 4, and assay results are shown in Table 1.
Highlights:
A2 Shear:
- AR-15-58c1 (53 m up-dip and southwest of AR-15-44b) intersected 80.5 m at 2.48% U3O8 (409.0 to 489.5 m) including 15.5 m at 10.01% U3O8, and a second interval of 35.5 m at 9.72% U3O8 (494.5 to 530.0 m) including, 11.0 m at 30.61% U3O8 and 3.0 m at 72.02% U3O8 in the A2 shear;
- Highest grade assay result from Arrow zone to date in AR-15-58c1: 0.5 m at 80.50% U3O8 (512.5 to 513.0 m);
- AR-15-48c3 (55 m southwest from AR-15-44b) intersected 9.5 m at 4.11% U3O8 (552.5 to 562.0 m), 4.5 m at 7.03% U3O8 (494.5 to 530.0 m) and 10.5 m at 7.30% U3O8 (615.0 to 625.5 m) in the A2 shear.
A3 Shear:
- AR-15-52 (210 m southwest step-out from AR-15-44b) intersected 18.0 m at 1.48% U3O8 (751.5 to 769.5 m) in the A3 shear;
- Assays confirm strong uranium grades in the A3 shear, where hole -52 currently defines the southwest extent of the A3 high-grade core which currently has a total strike length of 295 m and remains open in all directions and at depth.
A4 Shear:
- AR-15-58c1 (53 m up-dip and southwest from AR-15-44b) intersected 5.0 m at 7.23% U3O8 (875.0 to 880.0 m) and 19.0 m at 2.01% U3O8 (883.0 to 902.0 m) in the newly discovered A4 shear;
- The land-based and basement hosted Arrow zone currently covers an area of 645 m by 235 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in all directions and at depth.
- The further expanded, over 30,000 m summer drill program continues and is expected to conclude by the end of October;
- The Company has cash on hand of approximately $20M
Garrett Ainsworth, Vice-President, Exploration and Development, commented "Assay results from hole AR-15-58c1 in the higher grade sub-zone of the A2 shear stand out on a global stage. The sub-vertical dipping and sub-horizontal plunging orientation of this A2 sub-zone are now represented by assays from drill holes -30, -44b, -49c2 and -58c1, which all demonstrate strong continuity and grades that are constantly in excess of 10% U3O8 over wide intervals. In addition, exceptional results in other sections of the A2, A3 and A4 shears are demonstrating that the growth of Arrow continues to develop at speed."
Leigh Curyer, Chief Executive Officer commented, "This latest batch of assay results are very exciting for the project. We expect the higher grade A2 sub-zone on its own will have a material impact on our maiden resource estimate scheduled for the first half of 2016. In addition, the broader A2, A3 and A4 shears are exhibiting high-grade uranium intercepts throughout that continue to increase the known limits of mineralization. Arrow is shaping up to be a truly unique uranium asset, and one that we continue to rigorously test."
Table 1: Arrow Zone Assay Results
| 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-15-48c2 | 146 | -73.5 | 951.00 | 110.20 | 422.50 | 427.50 | 5.00 | 0.06 |
| 435.00 | 456.50 | 21.50 | 1.28 | |||||
| 461.00 | 472.00 | 11.00 | 0.49 | |||||
| 475.50 | 488.00 | 12.50 | 0.13 | |||||
| 493.00 | 503.00 | 10.00 | 0.15 | |||||
| 508.50 | 513.50 | 5.00 | 0.12 | |||||
| 566.50 | 568.00 | 1.50 | 0.06 | |||||
| 576.00 | 578.00 | 2.00 | 0.05 | |||||
| 580.50 | 581.50 | 1.00 | 0.38 | |||||
| 587.00 | 587.50 | 0.50 | 0.05 | |||||
| 595.50 | 598.50 | 3.00 | 0.09 | |||||
| 605.50 | 606.50 | 1.00 | 0.04 | |||||
| 609.50 | 615.50 | 6.00 | 0.25 | |||||
| 629.50 | 631.00 | 1.50 | 0.02 | |||||
| 643.50 | 648.50 | 5.00 | 0.03 | |||||
| 652.50 | 653.50 | 1.00 | 0.03 | |||||
| 656.00 | 656.50 | 0.50 | 0.06 | |||||
| 663.00 | 715.00 | 52.00 | 0.04 | |||||
| 721.50 | 724.50 | 3.00 | 0.08 | |||||
| 733.00 | 735.00 | 2.00 | 0.09 | |||||
| 743.00 | 747.50 | 4.50 | 0.02 | |||||
| 757.00 | 757.50 | 0.50 | 0.03 | |||||
| 763.50 | 766.00 | 2.50 | 0.04 | |||||
| 768.50 | 770.50 | 2.00 | 0.07 | |||||
| 779.50 | 780.50 | 1.00 | 0.07 | |||||
| 787.00 | 788.00 | 1.00 | 0.02 | |||||
| 807.50 | 808.00 | 0.50 | 0.04 | |||||
| 811.50 | 812.50 | 1.00 | 0.04 | |||||
| 843.00 | 843.50 | 0.50 | 0.08 | |||||
| 893.00 | 894.00 | 1.00 | 0.24 | |||||
| 910.00 | 911.00 | 1.00 | 0.12 | |||||
| AR-15-48c3 | 146 | -73.5 | 1047.00 | 110.20 | 479.00 | 506.50 | 27.50 | 0.59 |
| 510.50 | 537.50 | 27.00 | 0.44 | |||||
| 541.00 | 550.00 | 9.00 | 0.91 | |||||
| 552.50 | 562.00 | 9.50 | 4.11 | |||||
| 565.00 | 599.50 | 34.50 | 0.64 | |||||
| 602.00 | 602.50 | 0.50 | 0.02 | |||||
| 607.50 | 612.00 | 4.50 | 7.03 | |||||
| 615.00 | 625.50 | 10.50 | 7.30 | |||||
| 632.00 | 641.50 | 9.50 | 0.09 | |||||
| 665.00 | 673.50 | 8.50 | 0.06 | |||||
| 677.00 | 679.00 | 2.00 | 0.05 | |||||
| 689.50 | 699.50 | 10.00 | 0.07 | |||||
| 741.00 | 743.00 | 2.00 | 0.04 | |||||
| 774.00 | 777.50 | 3.50 | 0.06 | |||||
| 780.00 | 787.50 | 7.50 | 0.04 | |||||
| 791.00 | 792.00 | 1.00 | 0.02 | |||||
| 797.50 | 798.00 | 0.50 | 0.07 | |||||
| 807.00 | 807.50 | 0.50 | 1.01 | |||||
| 810.50 | 811.00 | 0.50 | 0.04 | |||||
| 847.50 | 853.00 | 5.50 | 0.02 | |||||
| 856.00 | 857.00 | 1.00 | 0.04 | |||||
| 859.00 | 861.00 | 2.00 | 0.38 | |||||
| 907.50 | 909.50 | 2.00 | 0.05 | |||||
| 913.00 | 914.00 | 1.00 | 0.03 | |||||
| 917.00 | 922.50 | 5.50 | 0.03 | |||||
| 925.50 | 926.00 | 0.50 | 0.03 | |||||
| 948.50 | 956.50 | 8.00 | 0.04 | |||||
| 962.00 | 963.00 | 1.00 | 0.04 | |||||
| 964.50 | 965.50 | 1.00 | 0.05 | |||||
| 976.00 | 977.50 | 1.50 | 0.10 | |||||
| 981.50 | 991.50 | 10.00 | 0.20 | |||||
| AR-15-52 | 140 | -75 | 987.25 | 101.80 | 527.00 | 529.00 | 2.00 | 0.12 |
| 538.00 | 539.50 | 1.50 | 0.21 | |||||
| 554.50 | 560.50 | 6.00 | 0.47 | |||||
| 563.00 | 563.50 | 0.50 | 0.01 | |||||
| 564.00 | 565.00 | 1.00 | 0.10 | |||||
| 567.50 | 573.50 | 6.00 | 0.44 | |||||
| 578.00 | 578.50 | 0.50 | 0.22 | |||||
| 589.50 | 590.00 | 0.50 | 0.16 | |||||
| 593.50 | 595.00 | 1.50 | 6.19 | |||||
| 614.50 | 616.00 | 1.50 | 0.04 | |||||
| 663.50 | 664.50 | 1.00 | 0.07 | |||||
| 675.00 | 677.00 | 2.00 | 0.61 | |||||
| 709.50 | 710.00 | 0.50 | 0.11 | |||||
| 713.50 | 726.50 | 13.00 | 0.10 | |||||
| 730.50 | 733.00 | 2.50 | 0.02 | |||||
| 738.50 | 743.50 | 5.00 | 0.06 | |||||
| 748.50 | 749.00 | 0.50 | 0.01 | |||||
| 751.50 | 769.50 | 18.00 | 1.48 | |||||
| 832.50 | 834.50 | 2.00 | 0.01 | |||||
| 847.50 | 849.00 | 1.50 | 0.06 | |||||
| 863.00 | 864.00 | 1.00 | 0.03 | |||||
| AR-15-53c1 | 141 | -77 | 938.00 | 114.00 | 520.00 | 522.00 | 2.00 | 0.04 |
| 533.00 | 538.00 | 5.00 | 1.91 | |||||
| 541.00 | 554.50 | 13.50 | 0.25 | |||||
| 559.00 | 566.00 | 7.00 | 0.30 | |||||
| 568.50 | 575.50 | 7.00 | 10.52 | |||||
| 580.50 | 581.00 | 0.50 | 0.36 | |||||
| 586.50 | 595.50 | 9.00 | 0.48 | |||||
| 622.50 | 625.00 | 2.50 | 0.08 | |||||
| 627.50 | 640.00 | 12.50 | 0.02 | |||||
| 643.00 | 663.50 | 20.50 | 0.03 | |||||
| 670.50 | 677.00 | 6.50 | 0.04 | |||||
| 683.00 | 691.00 | 8.00 | 0.08 | |||||
| 695.50 | 706.00 | 10.50 | 0.02 | |||||
| 708.00 | 709.00 | 1.00 | 0.04 | |||||
| 718.00 | 722.00 | 4.00 | 0.02 | |||||
| 730.50 | 733.00 | 2.50 | 0.01 | |||||
| 768.00 | 771.00 | 3.00 | 0.02 | |||||
| 849.50 | 850.50 | 1.00 | 0.03 | |||||
| 855.00 | 857.00 | 2.00 | 0.03 | |||||
| 897.50 | 898.00 | 0.50 | 0.02 | |||||
| AR-15-53c3 | 141 | -77 | 936.00 | 114.00 | 549.00 | 549.50 | 0.50 | 0.01 |
| 555.00 | 556.00 | 1.00 | 0.05 | |||||
| 584.00 | 589.50 | 5.50 | 0.02 | |||||
| 616.00 | 640.50 | 24.50 | 1.38 | |||||
| 644.00 | 647.00 | 3.00 | 0.05 | |||||
| 650.50 | 659.00 | 8.50 | 3.37 | |||||
| 663.50 | 664.00 | 0.50 | 0.24 | |||||
| 676.00 | 685.50 | 9.50 | 1.87 | |||||
| 772.00 | 774.50 | 2.50 | 0.16 | |||||
| 777.50 | 778.50 | 1.00 | 0.01 | |||||
| 781.00 | 782.00 | 1.00 | 0.16 | |||||
| 794.00 | 795.00 | 1.00 | 0.05 | |||||
| 797.50 | 799.50 | 2.00 | 0.01 | |||||
| 802.50 | 803.00 | 0.50 | 0.16 | |||||
| 806.50 | 810.00 | 3.50 | 0.54 | |||||
| 814.00 | 824.00 | 10.00 | 0.20 | |||||
| 891.00 | 892.00 | 1.00 | 0.02 | |||||
| AR-15-58c1 | 140 | -73 | 1044.00 | 100.65 | 396.00 | 400.00 | 4.00 | 0.03 |
| 409.00 | 489.50 | 80.50 | 2.48 | |||||
| including | 459.50 | 475.00 | 15.50 | 10.01 | ||||
| 494.50 | 530.00 | 35.50 | 9.72 | |||||
| including | 502.50 | 514.50 | 11.00 | 30.61 | ||||
| including | 511.00 | 514.00 | 3.00 | 72.02 | ||||
| including | 512.50 | 513.00 | 0.50 | 80.50 | ||||
| 543.50 | 545.00 | 1.50 | 0.01 | |||||
| 576.00 | 580.00 | 4.00 | 0.02 | |||||
| 624.00 | 624.50 | 0.50 | 0.12 | |||||
| 650.00 | 651.00 | 1.00 | 0.05 | |||||
| 677.00 | 678.50 | 1.50 | 0.03 | |||||
| 691.50 | 692.50 | 1.00 | 0.04 | |||||
| 706.50 | 730.50 | 24.00 | 0.08 | |||||
| 732.50 | 744.50 | 12.00 | 0.15 | |||||
| 747.50 | 749.50 | 2.00 | 0.24 | |||||
| 752.00 | 763.00 | 11.00 | 0.09 | |||||
| 765.50 | 769.00 | 3.50 | 0.07 | |||||
| 777.00 | 782.00 | 5.00 | 0.01 | |||||
| 784.50 | 787.00 | 2.50 | 0.02 | |||||
| 789.00 | 790.50 | 1.50 | 0.04 | |||||
| 793.00 | 795.00 | 2.00 | 0.01 | |||||
| 806.00 | 806.50 | 0.50 | 0.02 | |||||
| 819.50 | 820.00 | 0.50 | 0.08 | |||||
| 824.50 | 826.00 | 1.50 | 0.16 | |||||
| 831.50 | 832.00 | 0.50 | 0.14 | |||||
| 834.00 | 846.50 | 12.50 | 0.04 | |||||
| 858.50 | 859.00 | 0.50 | 0.38 | |||||
| 863.50 | 868.00 | 4.50 | 0.14 | |||||
| 875.00 | 880.00 | 5.00 | 7.23 | |||||
| 883.00 | 902.00 | 19.00 | 2.01 | |||||
| 909.50 | 915.00 | 5.50 | 1.24 | |||||
| 918.00 | 918.50 | 0.50 | 0.05 | |||||
| 926.00 | 927.50 | 1.50 | 0.09 | |||||
| 939.00 | 943.50 | 4.50 | 0.28 | |||||
| 984.00 | 984.50 | 0.50 | 0.02 | |||||
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 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