Advantage Lithium (V.AAL)

V.AAL, Advantage Lithium, lithium, Argentina, David SidooAdvantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. The common shares of the Company are listed on the TSX Venture Exchange (TSX-V: AAL), and the Company is also traded on the OTCQX Best Market in the U.S. (OTCQX: AVLIF). The Company has acquired a 100% interest in five projects in Argentina and up to a 75% interest in a sixth, called Cauchari. Cauchari is located just 20 km south of Orocobre’s flagship Olaroz Lithium Facility.

For more information see Advantage Lithium website here

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Golden Predator Welcomes Additions to the Brewery Creek Technical Team

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company” or “Golden Predator”) announced today that Robin Fraser of Canadian Northern Mining Corp. and James Hesketh of Kalex LLC. have joined the Golden Predator team as contractors providing engineering, mining and metallurgical services to the Brewery Creek Mine in Canada’s Yukon.  The Brewery Creek Mine is a fully licensed past producing gold mine with existing infrastructure and established resources.

Robin Fraser | Mining & Metallurgy

Robin Fraser and his team at Canadian Northern Mining Corp. have completed many mining construction, operation & maintenance projects worldwide and provide expert personnel, detailed evaluations and optimization plans.  Joining Golden Predator initially to enhance and optimize the Company’s bulk sample processing plant, Robin and team will expand their involvement, working towards the restart of the Company’s Brewery Creek Mine. Canadian Northern Mining has an established track record in early design, construction, start up and day to day operations. They will continue providing processing plant management, operations, maintenance and laboratory services for the 3 Aces bulk sampling project.

James Hesketh M.Sc. MMSA | Engineering

James Hesketh has 35 years experience in open pit heap leach operations and management.  His strong background in mining finance, mine engineering, development and operations includes senior positions with Atna Resources Ltd, Canyon Resources Corporation, NM Rothschild & Sons (Denver) Inc., Cyprus Amax Minerals Company, Pincock Allen & Holt, Inc., and Dresser Industries Inc.  He brings previous knowledge of the operations of the Brewery Creek Mine where he headed up the economic evaluation of the project for Rothschild’s.  One of the few engineers with actual year round commercial operational experience in the Yukon, he operated an open pit barite mine and processing plant in the SE Yukon during the 1980s.  He is qualified to assist with mineral valuation, financial and mining costing, infrastructure and project management. He holds a B.S. in Mining Engineering and a M.S. in Mineral Economics, both from the Colorado School of Mines.

Director Resignation

The Company advises that Dennis Fentie has resigned, effectively immediately, from the Board of Directors due to personal reasons. Mr. Fentie has been instrumental in assisting management secure certainty with its Quartz Mining License and Water License in addition to providing consistent and sound strategic advice. Mr. Fentie has provided the Company with exceptional service since joining the Board in 2015 and we are immensely thankful for his dedication and service.

Stock Option Grant

The Company has granted 1,175,000 stock options to directors and officers of the Company.  The stock options are exercisable for a term of three years at an exercise price of $0.37 per common share.  Vesting will occur over a period of eighteen months, with an initial 25% of the stock options vesting immediately, followed by an additional 25% of the stock options every six months thereafter until fully vested.

Brewery Creek Mine, Yukon: Resources and Past Production 

The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek was put into Temporary Closure in 2002 following a collapse of the gold price to below $300 US per troy ounce. Golden Predator commenced work on the project starting in 2009.  Brewery Creek is now authorized to restart mining activities that follow the previously assessed and approved mine plans without further assessment and review as defined in the Quartz Mining License and Water License. The Company intends to resume mining and processing of established resources remaining within the existing licensed and permitted areas while the Company works with Tr’ondëk Hwëch’in and Yukon Government to expand the licensed mining area to include new discoveries made since 2011.

The 180 km2 property is located 55 km due east of Dawson City and is accessible year round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing licenses.

The Brewery Creek Mine has a Preliminary Economic Assessment (PEA) resource estimation including an Indicated oxide resource of 577,000 troy ounces of gold in 14.2 million tonnes averaging 1.27 g/t gold and an Inferred oxide resources of 279,000 troy ounces of gold in 9.3 million tonnes averaging 0.93 g/t gold (includes resource areas located within and outside of production licenses as shown on map). In addition, the resource estimate contains Indicated sulfide resources of 142,000 troy ounces of gold in 3.5 million tonnes at 1.28 g/t gold and Inferred sulfide resources totaling 546,000 troy ounces of gold in 12.4 million tonnes at 1.37 g/t gold (1), although most drilling was historically terminated a short depth below the oxide mineralization, leaving sulfide potential largely untested.

The Brewery Creek Mine holds a Socio Economic Accord with Tr’ondëk Hwëch’in and is licensed to resume mining activities under the current Water License and Quartz Mining Licenses. The project also has a Class IV Mining Land Use Permit to conduct additional exploration.

The technical content of this news release has been reviewed and approved by Jeff Cary, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.

Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and low capex to production in a safe first world jurisdiction, Brewery Creek has a clear path to production as an economically and environmentally known project. Optimization studies are progressing to enhance the already positive multi-phase project economics described in the 2014 Preliminary Economic Assessment. Drilling continues to expand the open-ended resources and untested targets across the 186 km2brownfield property.

At the 3 Aces project, Golden Predator continues to expand on discoveries of native gold in quartz veins while ongoing bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a chemical-free process. This green gold provides the gold for the mintage of .9999 gold coins from the Yukon Mint™, a wholly owned subsidiary of Golden Predator.

For additional information:
Janet Lee-Sheriff

Chief Executive Officer
Golden Predator Mining Corp.
(604) 260-8435
info@goldenpredator.com
www.goldenpredator.com

(1) NI 43-101 Technical Report “Preliminary Economic Assessment for the Brewery Creek Property Yukon Territory, Canada” Release Date of November 19, 2014.
(2) Brewery Creek Technical Report, Richard Diment, PGeo May 18, 2003

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements express or implied regarding completion of the transactions described herein, the upcoming season at 3 Aces project, and  projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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Dog Days Of Summer

The junior exploration business in Canada follows a fairly predictable pattern: deploy drills as early in spring as the local climate allows, drill through the summer, begin reporting drill results in mid to late August and continue through until November.

Right now there are dozens of companies waiting for first results.

But this year is a little different.

With gold over $1500 USD and silver hitting $17.25 we look to be at the beginning of a significant precious metals rally. The first in nearly a decade. (We have already past the prices of the run-up in 2016.)

In a rally, good drill results will be multiplied as people look for a reason to buy exploration companies.

Typically the sequence in a rally is for the metals to increase in price, then the senior producers, then middle tier companies and, finally, after the rally has established itself, the junior explorers come into their own. But where the metal price is, at best, a 3x profit if you get the timing exactly right, junior explorer and developer shares can run 5-to 20x.

I’ve written a very short book on the performance of junior resource shares in a rally.

Gold $3000 | Silver $60 is available to pre-order at Amazon and will be delivered August 16th.

I wrote the book for my wife who wanted me to explain in simple terms why investing in junior exploration and development companies during a rally makes sense. After reading a couple of drafts, she’s convinced and she is a very tough sell.

So enjoy the last few days of summer and get ready for a wild ride in gold and silver juniors. Results are on their way. A few good “intervals” and we could be seeing the 5x and 10x moves which make the junior market the most exciting in the world.

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Marathon Gold Announces Q2 2019 Financial Results

 Marathon Gold Corporation (MOZ-TSX) (“Marathon”) announced today its financial results for the three and six months ended June 30, 2019. Following the completion of the updated preliminary economic assessment (“PEA”) on the Valentine Gold project in October 2018 and a successful financing transaction in February 2019, Marathon’s focus is on the development of the Valentine Gold project through the completion of a pre-feasibility study (“PFS”) and ultimately to a construction decision. The appointment of Matt Manson as President and Chief Executive Officer of Marathon effective August 19, 2019 strengthens the management team in areas that will be critical as the Company progresses from permitting and feasibility studies through to financing and mine development.

Highlights:

Sale of NSR to Franco-Nevada:

On February 21, 2019, Marathon completed the sale of a 2% net smelter returns royalty (“NSR”) to Franco-Nevada Corp. (the “FNV NSR”) for proceeds of $18 million. This attractive transaction is anticipated to fund Marathon’s exploration and technical work through to completion of the PFS and was pursued rather than an equity financing to manage the dilution of shareholders. The FNV NSR includes an 0.5% buy-back provision that allows Marathon to reduce the royalty to 1.5% prior to December 31, 2022 at a cost of US $7 million.

Financing and Liquidity:

At June 30, 2019, Marathon’s cash position was $15.8 million compared to $3.7 million at December 31, 2018, reflecting the sale of the FNV NSR.

Infill drilling program:

Following on from successful 2018 drilling programs at the Marathon and Sprite deposits, Marathon’s 2019 infill drilling program is in progress with completion expected in the third quarter of 2019. This program is being carried out primarily on the main mineralized corridors of the Marathon and Leprechaun deposits with two concurrent objectives, both of which are directly connected to maximizing the conversion of resources into reserves upon completion of the PFS:

  • To further confirm Marathon’s geological models for the Marathon and Leprechaun deposits by demonstrating the lateral continuity of the QTP-gold veining along and across strike as well as to depth within the mineralized corridors of each deposit, and
  • To increase measured and indicated resources for the project, both by continuing to upgrade existing inferred resources in each deposit into the measured and indicated categories and by expanding the resources associated with the Leprechaun and Marathon deposits

To June 30, 2019 Marathon completed 109 holes covering 30,191 meters in the two deposits, representing approximately 67% of the infill drilling planned for the year. Results to date are expected to achieve both objectives noted above and increase gold grades in the measured and indicated categories. Upon completion of the infill drilling program, Marathon will complete an updated mineral resource estimate in the fourth quarter to support the PFS.

Metallurgy:

Marathon completed column testing on 12 samples of mineralized lower-grade material from the Leprechaun and Marathon deposits in May 2019. This work, which was undertaken to assess potential heap leach recoveries, returned extraction rates of 72% for the Leprechaun Deposit and 65% for the Marathon Deposit. These results are well in excess of the 59% recoveries assumed in the updated PEA and will improve the overall economics of the project.

Mill recovery tests on higher grade material from the Leprechaun and Marathon deposits are continuing with encouraging results, with completion expected by the end of the third quarter of 2019.

Environment and Stakeholder Engagement:

Marathon filed an Environmental Assessment (“EA”) Registration/Project Description with the NL and federal governments on April 5, 2019, which was subsequently accepted into the formal EA review process on April 16, 2019. These documents are posted by both governments for public review and comment and are reviewed by the various regulatory departments to determine if, and to what extent, further EA is required. As expected, both levels of government determined that further EA work is required for the project in the form of an Environmental Impact Statement (“EIS”). Various baseline studies and assessment-related work have already commenced in support of developing the EIS.

Marathon commenced formal stakeholder engagement in March 2019, beginning with public meetings in the closest communities to the project, including Buchans, Millertown and Grand Falls-Windsor, to brief residents, municipal governments, and other local stakeholders on the status of the project and Marathon’s plans. Subsequently, Marathon has commenced consultation with the Qualipu and Miawepukek (Conne River) First Nations and other stakeholder groups who have interests in the proposed Valentine Gold project. Consultation with all stakeholders will continue as Marathon advances the EA, permitting, and engineering components of the project.

Results of Operations:

The results of operations for the three and six months ended June 30, 2019 and 2018 are summarized below.

Three months ended
June 30
Six months ended
June 30
2019201820192018
 $$$$
Expenses:
General and administrative expenses762,299378,3151,345,478861,945
Other income – royalties related to gold sales by the Golden Chest mine(28,007)(18,241)(54,351)(18,241)
Interest income(69,424)(96,942)
Interest expense281497
Foreign exchange loss (gain)8810,132(6,499)4,907
Loss before tax665,237370,2061,188,183848,611
Income tax expense (recovery)88,171175,403192,955(135,748)
Loss for the period753,408545,6091,381,138712,863
  

This press release should be read in conjunction with Marathon’s condensed interim consolidated financial statements for the periods ended June 30, 2019 and 2018 and the related Management’s Discussion and Analysis, both of which are available on www.sedar.com.

Cautionary Statement:

The updated PEA was prepared in accordance with NI 43-101. Readers are cautioned that the PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the economic results reflected in the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Qualified Person:

This press release has been reviewed by Phillip Walford, P.Geo. Mr. Walford is a Qualified Person in accordance with NI 43-101 and has approved the contents of this press release on behalf of Marathon.

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. Marathon has confirmed the feasibility of the Valentine Gold Camp, which currently hosts four near-surface NI 43-101 compliant, mainly pit-shell constrained, deposits with measured resources totaling 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, indicated resources totaling 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and inferred resources totaling 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold.

The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open at depth and on strike. Gold mineralization has been traced down almost a kilometer vertically at Marathon and over 350 meters at Leprechaun. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and an average of 65 to 72% extraction rates for 23 mm (1/2 inch) material via lower cost heap leaching at the Marathon and Leprechaun Deposits respectively.

To find out more information on the Valentine Gold project, please visit www.marathon-gold.com.

Jim Kirke
Chief Financial Officer
(416) 987-0710
Phillip Walford
President and Chief Executive Officer
(416) 987-0711

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

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Leprechaun’s High Grade Gold Core Continues to Expand: 5.72 g/t Au over 16.0m, 4.00 g/t Au over 26.0m, and 4.11 g/t Au over 13.0m, Valentine Gold Camp, NL

Drilling Highlights:

The final drill holes of the 2019 infill drilling campaign at the Leprechaun Deposit, consisting of a total 69 drill holes (VL-19-679 to VL-19-747) and 20,468 meters, continued to intersect new high-grade gold intervals with abundant visible gold along the more than 700-meter long high-grade core area of the Main Zone (Figure 1, 2 and 3). The Main Zone corridor consists of dominantly shallow southwest dipping en-echelon stacked QTP-Au veining within an enveloping surface that dips 65 degrees to the northwest, extends along strike for more than 950 meters, has a true width ranging from 30 to 120 meters, and extends from surface to more than 300 meters depth, beyond the bottom of the open pit (see Figures 1, 2 and 3). The 2019 infill drilling campaign has both expanded and further defined the continuity of the high-grade gold zone from surface to depths greater than 300 meters, a fact particularly significant in areas of limited previous drilling in the deeper regions as well as NE and SW extensions of the Main Zone gold corridor.

  • Main Zone: VL-19-747 intersected 4.00 g/t Au over 26.0 meters near surface including 27.5 g/t Au over 2.0 meters and 2.43 g/t Au over 3 meters. This shallow hole, drilled parallel and flanking the upper portions of drill holes VL-19-790 and VL-19-731, further defines the outer footwall margin of the high-grade Main Zone (Figure 2).
  • Main Zone: VL-19-738 intersected 2.84 g/t Au over 13.0 meters near surface including 10.27 g/t Au over 2.0 meters and 2.93 g/t Au over 12.0 meters including 14.57 g/t Au over 2.0 meters, and VL-19-743 intersected 9.71 g/t Au over 3.0 meters, 8.73 g/t Au over 3.0 meters and 3.30 g/t Au over 6.0 meters (Figure 3).
  • Main Zone: VL-19-735 intersected 5.72 g/t Au over 16.0 meters including 12.93 g/t Au over 6.0 meters, and 3.89 g/t Au over 13.0 meters including 11.29 g/t Au over 2.0 meters.
  • Main Zone: VL-19-744 intersected 2.90 g/t Au over 16.0 meters including 7.70 g/t Au over 4.0 meters, as well as 4.09 g/t Au over 6.0 meters and 5.90 g/t Au over 7.0 meters.
  • Main Zone: VL-19-740 intersected 3.03 g/t Au over 13.0 meters and VL-19-731 intersected 2.39 g/t Au over 14.0 meters.
  •  Hanging Wall DDH’s, drilled towards the southeast, intersected significant gold mineralization both in the hanging wall and at deeper levels of the Main Zone corridor including 2.93 g/t Au over 12.0 meters with 8.39 g/t Au over 2.0 meters in VL-19-729, 6.92 g/t Au over 5.0 meters in VL-19-733, 6.56 g/t Au over 6.0 meters with 16.68 g/t Au over 2.0 meters in VL-19-734, 4.11 g/t Au over 13.0 meters with 10.68 g/t Au over 3.0 meters in VL-19-736 and 9.73 g/t Au over 5.0 meters in VL-19-742.
  • The core of high-grade gold mineralization within the Main Zone corridor of the Leprechaun Deposit now extends continuously for more than 700 meters along strike, extends from surface to a depth of more than 300 meters, and has a true width that ranges from 30 meters to more than 100 meters. The 2019 infill drilling campaign is now completed at the Leprechaun Deposit, all fire assay results are received, and we await the remaining 1,300 metallic screen analyses before commencing on the updated mineral resource estimate, which is expected to be completed in Q4 2019.
  • Three drill rigs are currently operating at the Marathon Deposit, where a 17,000-meter infill and step out drilling program will be completed before the drills move on to complete a 7,000-meter exploration drilling campaign at the Sprite Zone in fall 2019.
  • A 2,250-meter HQ core size geotechnical drilling program is now underway with a fourth drill rig currently drilling in the Leprechaun Deposit. This geotechnical drilling program is designed to test the open pit wall strength at both the Leprechaun and Marathon deposits. This work is being completed in advance of the PFS, which remains on schedule to be completed by the first half of 2020.

TORONTO, Aug. 08, 2019 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is very pleased to announce the continued positive results from a very successful 2019 infill drilling campaign at the Leprechaun Deposit. These latest drill results, along with the exciting results of previously released 2019 drill holes in the Main Zone corridor (refer to Figure 1), were part of the series of planned infill drill holes that covered a more than 800-meter strike length of the Main Zone corridor, penetrated down through the shallow SW dipping, stacked gold-bearing QTP veins which form the dominant vein orientation within the Main Zone corridor of the Leprechaun Deposit; providing increased width to the Main Zone corridor, increased gold grade, and increased continuity the high-grade mineralization extending from surface to the bottom of the open pit and beyond into potential future underground resource development. This 69-drill hole, 20,468 meter infill drilling campaign is expected to add significantly to the gold grade and ounces of gold in the next resource update for the Leprechaun Deposit which is anticipated to be completed in September 2019.

“The Leprechaun infill/definition drilling program has been highly successful in extending the Main Zone high grade mineralization for 700 m along strike and to a depth of approximately 250 m. High grade mineralization has been intersected both near surface and at depth where the PEA resource model has either low grade or gaps.” Said Phillip Walford, President and CEO of Marathon Gold. “I am really looking forward to the new Leprechaun resource and the results of Marathon infill and definition drilling.”

TABLE 1: Significant assay intervalsLeprechaun Deposit, Valentine Gold Camp

DDHZone*SectionFromToCore Length (m)True Thickness (m)Gold g/t
VL-19-729HW10130165177128.42.93
including16616821.48.39
22222532.11.61
VL-19-730HW10520848732.60.82
VL-19-731MZ99301571711411.22.39
19219532.43.40
VL-19-732MZ1054014114986.41.56
17818132.42.27
VL-19-733HW10130666932.61.11
919432.61.69
27527943.41.47
28629154.36.92
VL-19-734HW1045010210532.62.76
15516165.16.56
including15715921.716.68
19619932.64.30
VL-19-735MZ997039551611.25.72
including434964.212.93
20821132.12.17
269282139.13.89
including28028221.411.29
28628932.13.57
VL-19-736HW103105832.42.54
10010332.41.01
21421954.02.22
2232361310.44.11
including22422732.410.68
VL-19-737HW10390485132.61.10
12212532.61.10
18318743.43.49
VL-19-738MZ102202151310.42.84
including131521.610.27
2234129.62.93
including283021.614.57
VL-19-739HW985016516832.41.43
17918232.47.16
VL-19-740MZ10240131632.61.28
293232.62.15
667486.81.10
1431561311.13.03
VL-19-741MZ9910455164.81.01
586132.43.80
666932.49.96
10310632.41.46
29529832.41.66
33133432.41.81
33834132.47.25
40941232.41.50
42042332.42.55
VL-19-742HW9850879143.26.95
11912454.09.73
including12012221.615.49
VL-19-743MZ102205832.42.35
131632.41.38
333743.21.32
434632.48.73
525754.03.55
868932.49.71
11211864.83.30
16216532.41.06
18518832.41.28
VL-19-744MZ10030162264.84.09
283132.41.06
 73891612.82.90
including828643.27.70
9610375.65.90
VL-19-745MZ9870495232.40.98
10911232.410.94
VL-19-746MZ10010303664.82.42
VL-19-747MZ99207332620.84.00
including151721.627.50
404332.41.32
798232.42.43
10110432.41.08

*MZ = Main Zone, HW = Hanging wall

Figure 1: Location of Main Zone corridor, diamond drill hole collars VL-19-729 to VL19-747 and cross sections 9920E and 10220E, Leprechaun Gold Deposit.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7baacd9e-3a14-4b36-aaf8-af8b6ee105d6

Figure 2: Cross-section 9920E, Leprechaun Deposit, showing the 30 to 100 meter-wide, moderately NW dipping Main Zone corridor composed of thick and laterally extensive high-grade gold mineralization within en-echelon, shallow SW dipping QTP-Au veining. Note the fire assay intervals 4.00 g/t Au over 26.0 meters including 27.50 g/t Au over 2.0 meters in VL-19-747 and 2.39 g/t Au over 14.0 meters in VL-19-731.
https://www.globenewswire.com/NewsRoom/AttachmentNg/2629b079-1c5f-4303-bba1-aba6e66f9894

Figure 3: Cross-section 10220E, Leprechaun Deposit, showing the 30 to 100 meter-wide, moderately NW dipping Main Zone corridor composed of thick and laterally extensive high-grade gold mineralization within en-echelon, shallow SW dipping QTP-Au veining. Note the fire assay intervals of 2.84 g/t Au over 13.0 meters and 2.93 g/t Au over 12.0 meters in VL-19-738 and 8.73 g/t Au over 3.0 meters, 9.71 g/t Au over 3.0 meters and 3.30 g/t Au over 6.0 meters in VL-19-743.
https://www.globenewswire.com/NewsRoom/AttachmentNg/87133de2-3b56-4582-91a0-1475ba859b49

Please view the new video posted on our website www.marathon-gold.com showing the preliminary layout plan for future mine site.

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Quality Assurance-Quality Control (“QA/QC”)

Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, Newfoundland. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true thickness (70% – 85% of core length).

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world.  Marathon has confirmed the feasibility of the Valentine Gold Camp, which currently hosts four near-surface NI 43-101 compliant, mainly pit-shell constrained, deposits with measured resources totaling 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, indicated resources totaling 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and inferred resources totaling 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold.

The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell.  Both deposits are open at depth and on strike.  Gold mineralization has been traced down almost a kilometer vertically at Marathon and over 350 meters at Leprechaun. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property.  Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and an average of 65 to 72% extraction rates for 23 mm (1/2 inch) material via lower cost heap leaching at the Marathon and Leprechaun Deposits respectively.

To find out more information on the Valentine Gold Camp project, please visit www.marathon-gold.com.

For more information, please contact:

Christopher HaldanePhillip Walford
Investor Relations ManagerPresident and Chief Executive Officer
Tel: 1-416-987-0714Tel:  1-416-987-0711
E-mail: chaldane@marathon-gold.comE-mail:  pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

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White Gold Corp. Extends High-Grade Mineralization at Golden Saddle 205m from Previous Mineralization and also within the Conceptual Pit Boundary including 3.59 g/t Gold over 68.0m and Identifies Multiple Continuous High-Grade Structures at Vertigo including 11.64 g/t Gold over 5.34m

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to provide an update on its fully funded $13 million 2019 exploration program, announcing initial diamond drilling results on its recent high-grade Vertigo discovery and on its flagship Golden Saddle deposit, located in the prolific White Gold District in Yukon, Canada. This first phase of diamond drilling was designed to test the geometry of the Vertigo target and previously underexplored portions of the Golden Saddle deposit and surrounding area. The ongoing 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe sampling , trenching and RAB/RC drilling on various other properties across the Company’s expansive land package.

Highlights Include:

  • Initial assays from the 2019 drill program present strong first diamond drill results on the Vertigo target and are among the best results to date at the Golden Saddle deposit.
  • All Vertigo diamond drill holes to date intersected gold mineralization and have identified a minimum of 6 high-grade mineralized structures. Each structure displays strong continuity from surface to over 250m down-dip and remains open in all directions. 
  • Diamond drilling on the Golden Saddle locally extended the GS Main zone 205m down dip from historic drilling, approximately doubling the down dip extension in the area which previously only extended to 165m; added additional mineralization above the previously modeled ore body; and infilled several strategic gaps in the resource model. Diamond drilling on the GS West successfully proved continuity of the deposit both along strike and down dip, expanding the modelled mineralization beyond the envelope included in the Company’s 2019 mineral resource estimate.
  • Golden Saddle: Hole WHTGS19D0198 returned 3.59 g/t Au over 68.0m from 73m depth, including 8.11 g/t Au over 13.6m from 77m depth, and 2.31 g/t Au over 10.56m at 179m depth. Hole WHTGS19D0212 returned 4.85 g/t Au over 27.5m from 38m depth, including 6.58 g/t Au over 9.0m from 51m depth.
  • Vertigo: Hole JPRVER19D0015 returned 0.42m of 141 g/t Au within a broader envelope of mineralization that averaged 11.64 g/t Au over 5.34m from 3m depth and 18.46 g/t Au over 2.48m from 92m depth. Hole JPRVER19D0005 returned 9.61 g/t Au over 4.15m from 20m depth, including 94.2 g/t Au over 0.32m from 21m depth. Hole JPRVER19D006 returned 6.89 g/t Au over 1.22m from 4.66 depth, and 20.15 g/t Au over 1.75m from 104.5m depth.
  • Additional exploration activity continues across the White Gold, JP Ross and multiple other regional properties, with related soil sampling, prospecting, GT Probe sampling, trenching and RAB/RC drilling results to be released in due course.

Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“We are very pleased with the initial results from our ongoing diamond drill program. At the Vertigo we have confirmed the existence of multiple structures with high-grade gold mineralization that display strong continuity along strike and at depth. These results are very encouraging for an initial diamond drill program and validate our current interpretation for the Vertigo. We look forward to receiving additional results from the Vertigo drill program and from ongoing exploration work on additional targets across the JP Ross property,” stated Jodie Gibson, VP Exploration. “The initial results at Golden Saddle are among the best holes drilled to date and significantly expand the high-grade mineralization within and beyond the current Golden Saddle resource boundary. This is all alongside our regional exploration program, which continues to generate a strong pipeline of exciting new targets further demonstrating the district scale opportunity across our unique portfolio of assets.”

Golden Saddle
The Golden Saddle, including the GS Main, GS Footwall and GS West zones, consists of a series of subparallel zones trending NE-SW and dipping to the NW at approximately 55 degrees with mineralization occurring along faults, fractures and breccia zones in an overall normal to strike-slip structural regime. Together, the zones define mineralization over 1,500m strike length and up to 725m down dip. This includes a continuous high-grade core of mineralization >3 g/t Au on the GS Main that is up to 50m true-thickness and traceable over 500m of strike length and from surface up to 530m down-dip.

Results have been received for 4 infill holes in the central portion of the deposit targeting significant gaps in the resource model on the GS Main zone. The results of the holes received to date show strong potential to refine and add additional tonnage to the existing resource model through strategic infill drilling on the Golden Saddle. Additionally, one step-out hole was drilled on the northwestern margin of the deposit. The reported assay results ranged from trace to 14 g/t Au. Significant results received to date are detailed below.

Drilling Highlights:
WHTGS19D0198
Hole x198 is located between historic holes WD-021, WD-030, and WGGS10D0115 and targeted a gap in the high-grade core (>3 g/t Au) on the GS Main zone. The gap in the model was controlled by adjacent historic hole WD-030, approximately 25m to the southwest of x198. WD-030 returned 2.1 g/t Au over 7m before the mineralization was truncated by a narrow lens of sheared serpentinite at the projection of the GS Main (1). Hole x198 targeted the GS Main adjacent to the sheared serpentinite and intersected 3.59 g/t Au over 68m from 73m depth, including 8.11 g/t Au over 13.60m from 77m depth.

In addition to the GS Main, the hole intersected two additional zones. The upper zone is in the hanging wall above the GS Main and returned 4.48 g/t Au over 3m from 22m depth. The lower zone was within a GS Footwall lens and returned 2.31 g/t Au over 10.56m from 179m depth.

(1)  See Underworld Resources News Release dated June 23, 2009. Available on SEDAR.

WHTGS19D0199
Hole x199 is located 52m to the west of x198 and also targeted a gap in the high-grade core on the GS Main associated with historic hole WD-030. Hole x199 intersected 4.07 g/t Au over 9.30m from 88m depth, including 7.81 g/t Au over 2.3m from 95m depth, associated with the GS Main. Two additional GS Footwall zones were intercepted, including 1.51 g/t Au over 7.83m from 158.8m depth and 1.41 g/t Au over 8.8m from 292m depth.

WHTGS19D0210
Hole x210 is located 270m northwest of hole x199 and targeted a down-dip extension of the GS Main in a previous undrilled portion of the Golden Saddle. The hole returned 1.71 g/t Au over 12.69m from 242.12m depth, including 3.07 g/t Au over 5.81m from 249m depth, and expanded the down-dip projection of the GS Main 205m from the limits of historic drilling and beyond the limits of the resource, approximately doubling the down-dip projection in that area.

WHTGS19D0211
Hole x211 is located at the same pad as x199 and drilled at an azimuth of 120o, targeting an especially broad zone of mineralization in the geologic model to better understand the geometry of mineralization in this important portion of the deposit. The hole returned 2.46 g/t Au over 65m from 115.15m depth; including 4.23 g/t Au over 17m from 128m depth and 5.53 g/t Au over 3m from 170m depth refining and increasing the thickness of mineralization in that area.

WHTGS19D0212
Hole x212 is located 90m to the east of hole x198 and infilled an area near the surface projection of the GS Main between historic holes WD-024, WD-038, WD-091, & WD-095. The hole returned 4.85 g/t Au over 27.45m of from 37.55m depth, including 6.58 g/t Au over 9m from 51m depth. The upper portions of the hole were mineralized with anomalous gold grades (>0.1 g/t Au) from surface and incorporating this material the overall composite is 2.27 g/t Au over 64m from 1m depth. The previous geologic model of the GS Main cut by hole x212 underestimated the width of mineralization in the area and excluded up to 25m of >3 g/t Au material from previous resource calculations.  To date we have received assays for the upper portion of hole x212 and assays the lower 170m of the hole are in progress.

The results of the holes received to date show strong potential to refine and add additional tonnage to the existing resource model through strategic infill and step out drilling on the Golden Saddle. Continued evaluation of the resource model is in progress and additional infill holes may be recommended on areas with the potential to upgrade the existing resources.

GS West
The GS West was discovered in 2018 and is located approximately 750m west and on trend with the GS Main and contributed an estimated 62,500oz (1,339,000 tonnes @ 1.45 g/t Au) to the Company’s recently announced resource update(2). The initial 2019 drilling on the GS West was designed to step-out in all directions and evaluate the geometry of the GS West zone beyond the limits of the current resource estimate.

Mineralization on the GS West is hosted within a strongly sheared felsic orthogneiss unit with abundant coarse-grained potassium feldspar augens. The mineralization is similar to Golden Saddle and consists of disseminated to fracture controlled pyrite associated with moderate to strong sericite-clay alteration. Based on the drilling conducted to date the mineralization appears to be strongest near contacts of the orthogneiss of with overlying mafic gneiss/schist units (amphibolite) and/or a lower meta-sedimentary package of banded biotite quartz gneiss. The felsic orthogneiss unit adjacent to these contacts is commonly pervasively sericite altered with localised zones of brecciation and minor quartz veining and up to 5% pyrite mineralization.

(2)  See White Gold Corp. News Release dated June 10, 2019. Available on SEDAR.

Drilling Highlights:
WHTGS19D0200
Hole x200 is located on the western end of the GS West and is a 55m step-out along strike to historic hole WGAR11D0025. The hole returned 1.00 g/t Au over 25.85m from 14.15m depth, including 1.40 g/t Au over 12m from 12m depth with anomalous mineralization (>0.1 g/t Au) continuing for an additional 26.88m below the reported intercept. Including this anomalous zone, the hole returned an overall intercept of 0.64 g/t Au over 52.73m from 14.15m depth.

WHTGS19D0201
Hole x201 is located from the same pad at x200 above and returned two closely spaced intercepts of 1.21 g/t Au over 7m from 11m depth and 1.06 g/t Au over 17.55m from 25m depth. The lower 17.55m interval also included intercepts of 1.78 g/t Au over 2m from 26m depth and 1.43 g/t Au over 5.55m from 1.43m depth.

WHTGS19D0206
Hole x206 is located 104m to the northeast of x205 and was targeting the projection of the GS West approximately 140m down-dip of hole WHTGS18D0184. The hole returned 0.82 g/t Au over 12.1m from 229.9m depth, including 1.79 g/t Au over 3.1m from 229.9m depth. This zone occurs within a 43m envelope (210 – 253m) of anomalous mineralization with values ranging from 0.02 – 2.46 g/t Au.

HOLE IDTargetFROM (m)TO (m)Length(m)Au g/t
WHTGS19D0198Golden Saddle222534.48
and73141683.59
incl.7790.613.68.11
and179189.5610.562.31
WHTGS19D0199Golden Saddle8897.39.34.07
incl.9597.32.37.81
and158.8171.227.831.51
and292300.88.81.41
WHTGS19D0200GS West14.154025.851.00
incl.2840121.4
WHTGS19D0201GS West111871.21
and2542.5517.551.06
incl.262821.78
and3742.555.551.43
WHTGS19D0206GS West229.924212.10.82
incl.229.92333.11.79
WHTGS19D0207GS West330.83321.24.15
WHTGS19D0208GS West22222422.26
WHTGS19D0210Golden Saddle242.12254.8112.691.71
incl.249254.815.813.07
incl.251.852531.159.81
WHTGS19D0211Golden Saddle115.15180.15652.46
incl.128145174.23
and17017335.53
WHTGS19D0212**Golden Saddle37.556527.454.85
incl.516096.58

*True thickness estimated at 80 – 95% of the reported intervals. Holes not listed above contained no significant values.
**Awaiting assays for bottom of hole.

Vertigo
The initial diamond drilling program on the Vertigo consists of 3 widely spaced fences (Sections VER-000, 100W, & 200W) that transect across the core of the Vertigo target area to establish geometry as well as vertical and lateral continuity on mineralized structures, previously intersected by 2018 RAB/RC drilling. The fences consist of 4 – 6 diamond drill set-ups per fence, spaced approximately 110m apart, with two holes drilled per set-up at angles of 45o and -60o. To date, over 5,700m have been drilled on the Vertigo over 23 holes. Results have been received for the first 11 holes (JPRVR19D0005 – 0015) and the drilling results will be discussed per fence/section.

Based on assays received to date, at least 6 subparallel structural zones have been defined and can be traced from surface to over 250m down-dip along individual structural zones. The envelope of alteration and mineralization along the structures varies down dip and ranges from 0.5m – 30m in thickness. The grade profile varies down-dip along individual structures and is anticipated to vary along strike as is common in high-grade, structural controlled, gold deposits. The results are currently being interpreted to project individual zones laterally, across section, and to follow up on interpreted plunge directions on the thickest and highest-grade zones of mineralization.

Gold mineralization on the Vertigo is hosted within a series of high angle, south dipping, structures associated with multiple phases of quartz-sericite-carbonate alteration with quartz veining and brecciation. Disseminated to semi-massive arsenopyrite-galena-pyrite and locally, visible gold occurs with the mineralized zones and the mineralization shows a strong correlation with Ag-Pb-Bi. Assay values for the results received to date range from trace to 141 g/t Au. Select samples from the mineralized intervals have been selected and are currently being re-analyzed using a Metallic-Screen analysis due to the presence of coarse visible gold.

The mineralized structures transect 3 lithologic packages consisting of an upper package of fine-grained biotite-quartz-feldspar gneiss (felsic gneiss) and amphibolite gneiss; a middle package of mafic schist, amphibolite, muscovite schist, and banded quartz biotite gneiss; and a lower unit of medium to coarse grain biotite-quartz-feldspar gneiss. Mineralization currently appears preferential to the upper felsic gneiss package with the highest-grade portions at or near lithologic contacts, however, additional assays are required to fully evaluate this relationship. Significant results are detailed below.

Section VER-000
JPRVR19D0005 & 6
Holes x005 & 6 were drilled from the same pad and are located in the center of the section VER-000. Hole x005 was drilled at a -45o dip and intercepted 4 gold bearing zones with the most significant consisting of 9.61 g/t Au over 4.15m from 20m depth; including 94.2 g/t Au over 0.32m from 21m depth.

Hole x006 was drilled at a -60o dip and intercepted 4 gold bearing zones with the most significant consisting of 6.89 g/t Au over 1.22m from 4.66m depth; 9.58 g/t Au over 1.1m from 24.92m depth; and 20.15 g/t Au over 1.75m from 104.5m depth; including of 36.2 g/t Au over 0.5m from 105.75m depth.

Section VER-100W

JPRVR19D0007 & 8

Holes x007 & 8 were drilled from the same pad and are located 110m to the south of holes x005 & 6 on section VER-000. Hole x007 was drilled at a -45o dip and intercepted 4 gold bearing zones with the most significant consisting of 51.4 g/t Au over 0.75m from 14.85m depth.

Hole x008 was drilled at a -60o dip and intercepted 4 gold bearing zones with the most significant consisting of 1.17 g/t Au over 1.4m from 81.6m depth and 1.64 g/t Au over 1m from 91.75m depth.

JPRVR19D0010 & 13
Holes x010 & 13 were drilled from the same pad and are located 115m to the west of holes x005 & 006 on section VER-100. Hole x010 was drilled at a -45dip and collared into a 27m zone of strong alteration with 3 gold bearing zones with the most significant consisting of 36.2 g/t Au over 0.7m from 6.4m depth.

Hole x011 was drilled at a -60dip and collared into a 31m zone of strong alteration with 3 gold bearing zones with the most significant consisting of 3.48 g/t Au over 0.57m from 7.28m depth and 1.69 g/t Au over 2.5m from 16.5m depth.

JPRVR19D0015 & 16
Holes x015 & 16 were drilled from the same pad and are located 105m to the south of holes x010 & 013 on section VER-100. Hole x015 was drilled at a -45o dip and intercepted two zones of high-grade mineralization. The upper zone returned 141 g/t Au over 0.42m from 6.2m depth within a halo of mineralization that averaged 11.64 g/t Au over 5.34m from 3m depth. The lower intercept returned 18.46 g/t Au over 2.48m from 92m depth and projects on trend with mineralization intercept at the tops of holes x010 & x013.

Hole IDFrom (m)To (m)Interval (m)Au (g/t)
JPRVER19D000556.91.93.41
and2024.154.159.61
incl.2121.320.3294.2
and525421.56
JPRVER19D00064.665.881.226.89
and24.9226.021.19.58
and104.5106.251.7520.15
incl.105.75106.250.536.2
JPRVER19000714.8515.60.7551.4
and180181.11.11.26
JPRVER19000881.6831.41.17
and91.7592.7511.64
JPRVER19000925.43260.574.88
and87.16880.842.81
and90.891.60.814.55
JPRVER1900106.47.10.736.2
and12.513.10.61.2
JPRVER1900137.2891.721.22
and16.5192.51.69
JPRVER1900141818.850.852.18
JPRVER19001538.345.3411.64
incl.6.26.620.42141
and9294.482.4818.46

*Interpretation of the results is ongoing and there is not currently enough information to estimate true thickness of the mineralized zones. Holes not listed above contained no significant values.

QA/QC
The analytical work for the 2019 drilling program will be performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples will be prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10g/t Au will be reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

The reported work will be completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.
The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(3) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(3) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(3) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person
Jodie Gibson, P.Geo., Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

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Goldplay’s Gold Mineralization Potential Continues to Grow at San Marcial

Goldplay Exploration Ltd. (TSXV: GPLYFRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce the continued growth in gold discovery potential at the Company’s San Marcial Project, Sinaloa, Mexico, with an update of the most recent surface results and newly discovered gold-silver exploration drill targets.

While the project is known for its silver NI 43-101 resource estimate (“Resource”) News Release dated 07 February, 2019, recent gold-focused exploration on targets peripheral to the Resource has yielded significant gold results from the Nava, Faisanes, Chachalaca and Guacamayo targets.

Goldplay’s highlights to date from targets peripheral to the Resource indicate a broad distribution of gold and silver over approximately 6 km of mineralized trend, from the Limoncillos target to the Micuines target (Figure 1). The following is a summary of recent results at these targets:

  • Nava – Sampling of artisanal tunnels identified visible gold from panning of low sulphidation quartz vein chip samples and channel sample results of up to 0.4 m* (0.4m) at 10.0 g/t Au1Trench channel sampling (SMtr-020) returned intervals up to 24 m (17.7 m) at 2.1 g/t Au, including 5.0 m (3.7m) at 4.0 g/t Au2. Both zones are currently being drilled to test continuity of the gold mineralization up to 150 meters beneath surface.
  • Chachalaca Micuines – Recent rock chip sample results identified on surface gold mineralization in a system similar to Nava with returns of up to 1.1 g/t Au. Historical rock chip samples at this target reported 1.0 m (0.9 m) at 13.3 g/t Au, 1.0 m (0.85m) at 7.9 g/t Au including six other samples rock chip samples averaging 1.0 m in length and grades ranging from 1.0 to 5.0 g/t Au. A trench/channel exploration program is currently underway to verify these encouraging gold results and obtain new sampling data, for the purpose of delineating new drill targets.
  • Guacamayo – a recent trench interval (SMtr-022) returned a wide zone of high-grade silver (Ag) as well as anomalous gold – 24 m at 219 g/t Ag and 0.25 g/t Au, including 1 m at 305 g/t Ag and 2.01 g/t Au3Approximately 100 m to the SW of SMtr-022, trench SMtr-019 intersected 5 m at 0.6 g/t Au. Goldplay is currently assessing the location of planned drill targets on this target.
  • Gold Discovery in the Resource Area – Recent assays of drill holes identified new gold mineralization outside of the Resource defining attractive new gold targets. Individual drill-core results included 1.5 m (1.0 m) at 2.5 g/t Au (SM-10-21), 12.3 m (8.4 mat 0.7 g/t Au (SM-20) and 47.0 m (12 m) at 0.2 g/t Au (SM-10-09)4 (Figure 2).
  • Faisanes – Drill hole SM-19-01 intersected 1 m (0.9 m) @ 204.6 g/t Au, immediately adjacent to the western edge of the Resource5. This represents a new gold mineralized zone outside of the Resource.

_____________________________

(*) – True Thickness

1 See News Release dated 16 April 2019

2 See News Release dated 10 July 2019

3 See News Release dated 22 May 2019

4 See News Release dated 18 September 2018

Goldplay President and CEO Marcio Fonseca commented“A year ago, our data indicated high-grade silver, lead and zinc at San Marcial. We have now added high-grade gold over multiple target areas covering approximately 6 km of trend prospective for gold and silver mineralization. Our current exploration program includes our Phase 1 drill program as well as continued surface exploration of new target areas with gold and silver potential. Drilling at Navais now underway with further holes planned for both Nava and Faisanes to expand on our recent successful gold discoveries. We continue to encounter new gold and silver mineralized zones, encouraging us to pursue additional exploration in the San Marcial Project. As of today, we have covered only half of the concession with a modern exploration program, opening up potential for additional discoveries”.

CURRENT DRILL PROGRAM

The Company is executing its San Marcial resource expansion strategy with its initial drill program at Faisanes and at Nava.

Phase I drilling at San Marcial brought immediate success with drill hole SM-19-01 intersecting a very high-grade gold interval of 1 m at 204.6 g/t Au at the Faisanes target on the western edge of the Resource (Figure 1). This high-grade gold intercept has been followed up with detailed geological and geochemical modelling. Findings from these newest studies strongly support further drilling along 600 meters of strike length at Faisanes in the Phase I drilling program. The discovery of a high-grade gold mineralized zone, associated with high grade silver and base metals (Pb-Zn), opens the exploration at San Marcial. The Company anticipates completing approximately 3 additional core drill holes at Faisanes during the current program to follow up on SM-19-01.

Drill hole SM-19-02 is currently underway testing the Nava gold target 150 meters beneath the broad gold interval in trench SMtr-020 that returned 24 m at 2.1 g/t Au (including 5 m @4.0 g/t Au). The Nava target is located 1.5 km west of the San Marcial resource area and approximately 1 km west of the Faisanes discovery. A 500 m-long gold mineralized zone has been defined at Nava. For further details, see News Release dated 10 July, 2019.

Additionally, the Company is actively focused on surface exploration along the 6 km long, NW-SE trending corridor between the Micuines and Limoncillo targets (Figure 1), including prospecting for discoveries of new high-grade Au-Ag zones. Any new gold and silver targets identified will be considered for drill testing during the current program.

GEOLOGY

Gold and silver mineralization are widespread at the GuacamayoResource and Faisanes targets (Figure 1) and is stratigraphically associated with a felsic volcanic sequence in the footwall below the San Marcial Fault. It is also associated with breccia-hosted silver mineralization of the NI 43-101 resource. The felsic volcanic sequence consists of dacitic (to rhyolitic) composition intercalated lapilli tuffs, flow banded and fine grained dacites (Figure 2). This association has been interpreted to be part of a dacitic dome structure.

Sulphides can be locally disseminated or massive within the volcanics, however narrow veins, that may incorporate quartz and/or carbonate, can also be sulphide rich. The veins may be discrete veins in places but may also appear form stockworks or breccias, locally. At Guacamayo, Resource and Faisanes, gold and silver appear to be closely associated with sulphide mineralization.

The recently discovered gold mineralization is typically defined by broad low-grade zones with locally higher-grade results, as shown by the recent exceptional drill result from SM-19-01 of 1 m at 204.6 g/t Au. To support this, the San Marcial drilling database contains 148 core assays above 0.2 g/t Au, however only nine of these are > 1.0 g/t Au. The majority (126) are in the range 0.2 to 0.5 g/t Au. Likewise, the Guacamayo surface sampling data base to date contains 35 samples > 0.2 g/t Au, however only two of these samples are > 1.0 g/t Au (maximum 2.0 g/t), with the majority (29) in the range 0.2 to 0.5 g/t Au. This represents evidence of a broad and continuous gold and silver mineralized system with opportunities for new discoveries with cost effective surface exploration and definition of drill targets to delineate high grade ore shoots.

Qualified Person

The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc in Burnaby, BC. The analytical methods are 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

The Company is pleased to announce that the Company has granted 710,000 stock options to directors, officers, and consultants of the company at an exercise price of $0.21 cents per option for a term of five years. Such options have been granted pursuant to the company’s 10-per-cent rolling stock option plan and are in accordance with policies within the TSX Venture Exchange.

The Company wishes to correct typographical errors contained in its July 30, 2019 news release. The correct disclosure should read as follows:

Drill Hole

From (m)

To (m)

Sample

Length (m)

True

Thickness

(m)

Grade Au

(g/t)

Grade Ag

 (g/t)

Grade

Pb

%

Grade

Zn

%

SM 19-01

47.4

51.4

4.0

Not sampled

SM 19-01

67.5

105.0

37.5

32.5

0.01

5

0.6

0.2

including

86.3

89.1

2.8

2.4

0.01

8

5.9

0.4

including

86.3

87.0

0.7

0.6

0.02

6

4.0

0.5

including

88.6

89.1

0.55

0.5

0.13

23

25

0.9

About Goldplay Exploration Ltd.

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250 ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. Additionally, bonanza-grade gold was drilled in July 2019 at San Marcial, opening up the potential for further gold success. Goldplay’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

Goldplay’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. Goldplay is the first company to perform exploration work at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. Only 500 m of the 6 km trend has been drilled to date, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and is currently drilling two high-priority targets at Faisanes and Nava. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which operated for over 250 years.

Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

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A Gold Mine, A Plant and a Mint: Golden Predator

We’ve been trying to get an interview with Golden Predator Mining Corp (GPY:TSXV) CEO Janet Sheriff since the beginning of July. Because Sheriff has been incredibly busy.

“I’ve been on the road a lot,” said Sheriff when we finally managed to connect. “A big reason is finalizing the approvals for the Quartz Mining License and Water License for our Brewery Creek Gold Mine in the Yukon. Following that we completed a private placement and now are busy advancing the Brewery Creek Mine, with drilling and site improvements underway.”

Golden Predator has two active projects in the Yukon: the Brewery Creek Gold Mine, a past-producing, licensed mine in the centre of the territory, 45 kilometres from Dawson City, and the Three Aces project which is an exploration project in the South Eastern corner of the territory. GPY also owns and runs the Yukon’s first test processing plant and the Yukon Mint which and produces gold coins and bar. All of which means Sheriff and her husband and GPY Chair, William Sheriff are flat out busy.

“Brewery Creek operated from 1996 to 2002 and closed when the gold price fell below $300/ounce explained Sheriff. “However, looking at the paperwork over the past year I saw this was a temporary closure. Which I was pretty sure meant that, legally, the Quartz Mining Licence and the Water License were still valid. We needed confirmation from the Yukon Government and the support of Tr’ondek Hwech’in First Nation which we received following their due diligence.”

“Tr’ondek Hwech’in has been very supportive and we are very appreciative of the support to reopen the Brewery Creek Mine under existing licenses,” said Sheriff. “We met with Tr’ondek Hwech’in and presented our information, then they completed their own due diligence and agreed with our assessment of the license as did the Yukon Government. I wasn’t surprised, we had our facts correct.  We have a mine,  a proven project, both economically and environmentally, on a brownfields site that provided economic benefit locally while also acting in an environmentally responsible manner that can open again under the already assessed and licensed mine plan.”

The great advantage of Brewery Creek is that it can be put back into production quickly with a very low CAPEX.

“We have a resource of approximately 850,000 oxide ounces of gold with a significant amount of infrastructure already in place,” said Sheriff. “a heap leach pad with 10 licensed cells but only 7 built gives us room to grow quickly under existing permits. And our first step will be to reprocess the ore currently on the heap leach pad. “

“We intend to reprocess the 10.4 million tons of rock which are already on the heap leach pad,” said Sheriff. “The former operator was taking “run of mine” rock and leaching it. Which means they were only getting a little over 50% recovery. And with 10.4 million tonnes on the heap, we can recover ounces already mined by reprocessing, essentially crushing and restacking, balancing the pH on the heap and removing any leaching pathways created  that would reduce the efficiency of the operation.”

Starting Brewery Creek back up with the rock in the leach cells and the stockpile rock could mean, if everything goes perfectly, building up the mine in about 18 months.

“We’ll get a lot done this year. Pre-strip, clear more roads, check the existing foundations,” said Sheriff. “We are licensed to install a camp, have our septic system, a road to Dawson City which is only 45 kilometres away.”

“We’ll also be drilling to expand and upgrade resource at Brewery Creek to help extend the mine life,” said Sheriff. “Last year we found six good targets, drilled three of them and hit three times. We can expand our mining area by way of amending our existing licenses which is in the plan. Most of the drilling has been shallow for oxide resources and we have found sulfide at depth. Long term, we also plan to look to expand the sulfide potential and consider different processes in the future.”

(Golden Predator put out a press release August 7, which outlines the Brewery Creek work program in detail.)

A thousand kilometres away is Golden Predator’s Three Aces exploration project. When I visited Three Aces two years ago it was very clear that the geology of the project was challenging.

“At 3 Aces the gold occurs like pearls on a string,” said Sheriff. “You get high-grade gold where a cross structure crosses the main structure. It’s complicated but we are understanding it. Our understanding changed with our late season drilling last year.”

“This is old school, boots on the ground, type of exploration,” said Sheriff. “The challenge is how to identify where those cross structures actually are. Trenching and sampling work at 3 Aces.”

Part of the 3 Aces puzzle is that the high grade is actually off the scale but nearly impossible to accurately drill test. So Golden Predator decided to bulk sample to try to get a handle on the grade. However, to test the bulk sample GPY had to actually process the rock which led to the construction, in 2016, of a bulk sample pilot processing plant. This plant has been upgraded significantly and is now capable of processing 50 tonnes per day of material.

The bulk sampling and processing program achieves two goals. First, in conjunction with closely spaced drilling, it gives GPY the ability to continuously evaluate the quality of drill hole assays, rock mechanics, optimal drill spacing for resource delineation and optimal metallurgical recovery. Second, it produces gold.

“Our plant sorts into three concentrates,” said Sheriff. “The high grade, what we call “the middlings” and the rest. The rest runs 3-5 gpt gold. The middlings are high grade in the thousands of grams per ton. And the high grade is free-milling nuggety gold from which we pour doré bars.”

“In addition to working to test processing without chemicals and getting over 80% recovery, we have moved into testing the middlings. We had been sending the middlings to a smelter but we were not impressed with the results,” said Sheriff. “So, we decided to try to process the middlings ourselves. We’ve just started but we’ve developed a proprietary, cyanide free process which has worked well in the lab and we will field test it soon. We’ve filed a provisional patent and we’re now pilot testing the process and excited to see if it might work. Next, what to do with the rest and at 3 to 5 gpt we have some ideas.”

Meanwhile, the main processing plant should be done with the 2018 bulk sample later this year.

The obvious advantage to processing the bulk sample is that Golden Predator is a rare exploration company which has pre-production revenue. It also means that Golden Predator’s Yukon Mint has a steady supply of gold to turn into coins and bars. The mint struck its first coin in 2018 and this year will be issuing two new coins based on designs from Kaska Nation artists.

Golden Predator has just completed a 9.3 million dollar private placement with legendary gold investor Eric Sprott taking 5,000,000 non-flow-through Class A common shares sold through the offering increasing his total ownership to 13 million Class A common shares of the Company. A huge vote of confidence and more than enough funding to help advance Brewery Creek and keep up the exploration and bulk sampling effort at 3 Aces.

Janet Sheriff is going to be busy for quite a while as Golden Predator moves towards mining gold at Brewery Creek and closer to understanding the rich geology of 3 Aces. Which means that there will be a steady news flow from both projects with a heavy emphasis on the near-term production visibility at Brewery Creek, just in time for the current rally in the price of gold.

 

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Julia Lane

Julia LaneAwful news from the Yukon. ATAC VP-Exploration, Julia Lane, died in plane crash yesterday.

She was 33.

Smart, savvy and very, very kind. She had achieved so much and had a brilliant career ahead of her.

I met her at Rackla a couple of years ago. She took the time to explain the geology of the deposit in simple enough terms that even I could understand it.

The Yukon is a very small place and the mining and exploration community even smaller. There are a lot of heartbroken people mourning the loss of this brilliant, young, geologist.

Here’s a write up which captures Julia’s sheer enthusiasm.

 

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Golden Predator Advances Reopening of the Brewery Creek Mine

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company” or “Golden Predator”) announced today that it has commenced site improvements and an accelerated exploration/development drilling program at its fully licensed 100%-owned Brewery Creek Mine near Dawson City, Yukon.  Site development work is underway following the receipt of formal notification from the Yukon Government  confirming the validity of the current Quartz Mining License and Water License which permits the immediate start of work to reactivate the Brewery Creek Mine. The 2019 exploration drilling program will test numerous targets across the property with the objective of expanding and upgrading the existing mineral resource.

Golden Predator Chief Executive Officer Janet Lee-Sheriff said “This is the ideal time to intensify our Brewery Creek Mine work program which has been ongoing since 2009. This mine shut down in 2002 due to a collapse in the gold price, not a failure of its technical underpinnings or a lack of gold resources. With the recent resurgence of the gold price and the lack of licensed projects in North America, we believe we can create significant new value by adding resources and working towards a near-term start-up of a relatively high grade heap leach project that has extensive economic and environmental information to support a viable operation.”

To view the Brewery Creek Mine project and maps please visit:
http://www.goldenpredator.com/_resources/news/BC_Work_Plan_2019_NR.pdf

Golden Predator intends to proceed with a feasibility study on the Brewery Creek Mine, and thereafter, should the feasibility study support a production decision,  proceed to production in a safe, environmentally respectful manner that can provide economic benefit to the company, the local community, the Tr’ondëk Hwëch’in  (TH) and the Yukon. Exploration and engineering studies to date as disclosed in the Preliminary Economic Assessment dated November 19, 2014 (“PEA”), have shown that the property can potentially be brought back into operation, initially by re-processing the existing heap leach pile and mining the known near-surface oxide resources.

At present, one reverse circulation drill rig is operating at the Brewery Creek Mine and has already completed 1,200 m of drilling. Two additional drill rigs are planned to commence drilling in mid-August 2019. In addition, the Company is mobilizing heavy equipment to commence pre-construction work in preparation for mine reconstruction which is expected to begin in earnest in 2020.

Work Program: Brewery Creek Mine

The Company has commenced work to put in place infrastructure as approved under its Water License and Quartz Mining License which permits mining at  a rate of 4.0 million tonnes of mineralized material per year with gold processing and recovery by sodium cyanide heap leaching and activated carbon recovery.

The licensed Brewery Creek Mine consisted of a permanent heap leach pad, an adsorption-desorption and gold recovery (“ADR”) plant, process and overflow ponds and ancillary facilities. The ADR plant and the laboratory building were removed but the concrete foundations were preserved; testing is underway to assure their ability to be returned to use. The work plan commencing in 2019 and continuing through 2020 is designed to:

  • Re-establish east access road to ADR plant and sediment/erosion control structures;
  • Re-establish west access road to ADR plant site and sediment/erosion control structures;
  • Remove soil cover from concrete foundations of former ADR plant and assay lab and surrounding area;
  • Re-grade as needed and re-line three solution ponds;
  • Expand the existing camp as permitted;
  • Clear brush, remove and stockpile topsoil and silt materials, prepare the soil foundation for installation of liners and leak detection systems on cells  8, 9 and 10 of the leach pad area;
  • Re-construct infrastructure, ADR plant, power plant, assay lab, warehouses, maintenance shop, office buildings in permitted locations from earlier operations;
  • Construct crushing, processing and conveyor stacking systems;
  • Re-habilitate haul road to Fosters licensed for ore extraction and waste disposal;
  • Extract mineralized material from licensed pits (Pacific, Blue, Moosehead, Canadian, Fosters, Kokanee, Golden and Lucky);
  • Commence monthly water sampling/quarterly groundwater sampling at established compliance sites;
  • Expand environmental studies, including monthly sampling at newly established hydrological baseline sites, and quarterly sampling at newly installed groundwater monitoring wells;
  • Refine and update economic studies on mine plans to include new information developed since the 2014 Preliminary Economic Assessment (PEA) including the commissioning of a Feasibility Study for the initial phase of reactivation.

The plans summarized above, including a Feasibility Study, are focused on steps necessary to permit a decision to proceed with production of gold from oxidized heap-leachable mineralized material.  A significant amount of sulfide material exists at Brewery Creek and while portions of this material are not receptive to heap leaching, other recovery methods will be investigated including but not limited to bioxidation.  A commercial production decision would be based on a feasibility study.

Additional exploration success is anticipated to further extend the mine life beyond the 8 years originally contemplated in the PEA.  The Company considers the PEA to be current pending completion of the additional work described above.  While the development work and initial production activities are being carried out, Golden Predator will continue to explore, develop and submit amendments to the licenses covering additional areas in order to extend the life of mine.

The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

Drilling and Ongoing Exploration Work

The Company is accelerating its successful exploration and development drilling program which began in 2009 and was interrupted in 2012 after having increased NI 43-101 resources five-fold from an Indicated Resource of 3.98 million tonnes @ 1.135 g/t gold (145,000 contained ounces) and an Inferred Resource of 2.2 million tonnes @ 2.01 g/t gold (142,000 contained ounces), to17.61 million tonnes @ 1.27 g/t gold (719,000 contained ounces) and an Inferred Resource of 21.717 million tonnes @ 1.18 g/t gold (825,000 contained ounces of gold).  Oxide only resources were reported at 14.1 million tonnes @ 1.27 g/t gold Indicated (577,000 ounces gold) and 9.3 million tonnes @ 0.93 g/t gold Inferred (279,000 ounces gold)(1, 2) . The Company has experienced a high exploration drilling success rate at Brewery Creek with over 80% of the holes having intercepted significant mineralization. Only limited drilling has been conducted since 2012, primarily for metallurgical and geotechnical analysis. Many targets remain open or untested across the 180 km2 property.

The 2019 Q3/Q4 drilling at Brewery Creek will consist of development, exploration and metallurgical drilling along with continuing prospecting and target generation along strike extensions of mineralized trends.

A minimum of 6,000 m of drilling will be completed in 2019. Two reverse circulation rigs will complete a minimum of 4,500 m of development drilling within the central portion of the Reserve Trend to expand currently defined gold resources along strike. The development drilling will focus on the productive Fosters-Kokanee-Golden-Lucky (FKGL) corridor.

Exploration drilling will continue along the 4.5 km long Classic/Lone Star structural corridor.  A minimum of 1,500 m of drilling will test over 1 km of additional strike length on the un-drilled southern extension as well as the sparsely drilled northern extension of the mineralized corridor.

At least 500 m of PQ core will be obtained from sulfide gold mineralization from the Fosters-Kokanee-Golden-Lucky corridor for bio-oxidation testing.  This work will follow up on a document from the previous operator that reported positive metallurgical results from bio-oxidation of sulfide material.  Bioxidation has advanced considerably in the past 30 years since this initial test and could, if successful and economical, unlock the large sulfide resources underlying the oxide mineralization across the property. (2)

Bulk Sampling, Process Optimization-Reprocessing Remaining Gold in Heap Leach Pads

Historical records available to the Company from prior operations by Viceroy Minerals Corporation for the period of approximately 1996 through 2002 indicate that the prior operator of the mine placed 10.43 million tonnes on the heap leach pad at an average grade of 1.5 g/t gold containing approximately 525,094 ounces of gold.  Refinery records state that 277,170 ounces were produced from the heap leach pad, which based solely on those historical records would result in 247,924 contained ounces in the existing heap leach pad.

Note that the above estimates, including estimates of tonnage and grade from prior operations, are considered historical estimates.  Historical information has not been classified as a current mineral resource.   A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve.  The issuer is not treating the historical estimate as a current mineral resources or mineral reserves.  Data was provided in extensive historic mining, ADR recovery and refinery reports available to the Company and are believed to be relevant and reliable.

The estimates based on the historical data contrast with a 2011 mineral resource estimate on the material located on the heap leach pad, which  provided an Indicated Resource of 2.977 million tonnes @ 0.88 g/t gold (84,000 ounces of gold) plus an Inferred Resource of 1.682 million tonnes @ 0.60 g/t gold (32,000 ounces of gold)(1).   Several factors are believed to have contributed to the more conservative assessment in the 2011 mineral resource estimate including attempting to utilize standard drill hole-based resource modelling protocol for in-situ unmined material on modeling a multi-sourced, variably graded, already mined, hauled and mixed body of gold bearing material.  In addition, there are tens of thousands of assay and data points including 2445 exploration drill holes and the resultant individual deposit resource modelling used in the mining of the deposits, blast hole data from every mined bench and detailed reports and records from the ADR plant as well as the refinery used to report the historic figures.

By contrast, the 2011 estimates utilized  18 sonic drill holes, located on an approximate 100 m grid, drilled to a maximum depth of 22.86 m containing 177 samples, each one representing a 5 foot interval from a sonic drill hole, whose results were included in the NI-43-101 resource estimate.  There was an additional 3.366 million tonnes considered to be “waste” (Table 16-9 of the PEA) from the total 8.025 million tonnes to be removed from the heap leach pad for a strip ratio of 0.72.  The limited drill data and the limitations of modelling mined material, as discussed above, result in the model treating a significant portion of the material as “waste” on a heap leach pad.   The Company views that the classification as waste addresses the limitations of the drill program, however by definition material placed on a heap leach pad would typically not include waste, as only mineralized material is intended to be placed on it for extraction of gold.  The proposed additional work on the leach pad as described below is intended to address this limitation.

Leach pad mineralized material was originally placed as run-of-mine, uncrushed material which resulted in a low overall gold recovery of approximately 52%.

The sonic drill hole samples from 2011 were composited to create material for four column leach tests, crushed to 80% passing 9.5mm, and then subjected to column leaching for 141 days. The four columns returned recovery values ranging from 42.9% to 57.3% averaging 52.1%. This work demonstrated the potential to recover substantial additional gold from heap leach pad inventory.

Additional testing of the heap leach pad will be conducted In order to address the limitations described above for the 2011 resource estimate.  This additional work will include drilling and bulk sampling to be completed this year to further test leach recovery characteristics and to determine optimal crushing size versus recovery tradeoffs from a series of column leach tests to be conducted with different crush size material including 1”, ¾”, ½” and ¼”.  In addition, the bulk sampling material will be tested to determine crusher feed parameters for the heap material to be reprocessed as well as heap stability and stacking characterization.  Crushing and re-processing heap leach inventory is a permissible activity under existing licenses.

Leach Pad Expansion Pre-Stripping

The original heap leach was designed in 10 cells, with only 7 cells built to date. The pad is currently licensed to hold 15 million Tonnes of mineralized material of which 10.43 million Tonnes are currently in place.  Accordingly the remaining 3 cells will be built under this plan to accommodate the remaining tonnage permitted under the license, including new mineralized material or crushed heap lead pad material for reprocessing.  Work will commence in 2019 to clear brush and remove topsoil from the remaining leach pad construction area and to prepare the surface for placement of additional leach pad liner in 2020.

Haul Road Reconstruction

Approximately 12.5 km of haul roads were constructed to haul ore from the open pits at Brewery Creek to the leach pad. In addition to these main haul roads, a number of secondary haul roads were constructed to gain access to individual pit benches and waste rock piles. The existing haul roads require removal of soil/growth media that was placed over the width of the road and drainage crossings will be re-established with installation of culverts.  In some instances, the width of the haul roads will be increased as necessary for optimal safety and operating conditions. Mining of the Brewery Creek deposits will be done by conventional open pit methods with pits designed for each deposit and linked to the leach pad and mine services area via the 12.5 km of existing haul roads.

Brewery Creek Mine, Yukon: Resources and Past Production 

The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek was put into Temporary Closure in 2002 following a collapse of the gold price to below $300 US per troy ounce. Golden Predator commenced work on the project starting in 2009.  Brewery Creek is now authorized to restart mining activities that follow the previously assessed and approved mine plans without further assessment and review as defined in the Quartz Mining License and Water License. The Company intends to resume mining and processing of established resources remaining within the existing licensed and permitted areas while the Company works with Tr’ondëk Hwëch’in and Yukon Government to expand the licensed mining area to include new discoveries made since 2011.

The 180 km2 property is located 55 km due east of Dawson City and is accessible year round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing licenses.

The Brewery Creek Mine has a Preliminary Economic Assessment (PEA) resource estimation including an Indicated oxide resource of 577,000 troy ounces of gold in 14.2 million tonnes averaging 1.27 g/t gold and an Inferred oxide resources of 279,000 troy ounces of gold in 9.3 million tonnes averaging 0.93 g/t gold (includes resource areas located within and outside of production licenses as shown on map). In addition, the resource estimate contains Indicated sulfide resources of 142,000 troy ounces of gold in 3.5 million tonnes at 1.28 g/t gold and Inferred sulfide resources totaling 546,000 troy ounces of gold in 12.4 million tonnes at 1.37 g/t gold (1), although most drilling was historically terminated a short depth below the oxide mineralization, leaving sulfide potential largely untested.

The Brewery Creek Mine holds a Socio Economic Accord with Tr’ondëk Hwëch’in and is licensed to resume mining activities under the current Water License and Quartz Mining Licenses. The project also has a Class IV Mining Land Use Permit to conduct additional exploration.

From 1996 to 2002 approximately 280,000 oz gold were produced from seven near-surface oxide deposits along the property’s Reserve Trend.

The technical content of this news release has been reviewed and approved by Jeff Cary, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.

Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and low capex to production in a safe first world jurisdiction, Brewery Creek has a clear path to production as an economically and environmentally known project. Optimization studies are progressing to enhance the already positive multi-phase project economics described in the 2014 Preliminary Economic Assessment. Drilling continues to expand the open-ended resources and untested targets across the 186 km2 brownfield property.

At the 3 Aces project, Golden Predator continues to expand on discoveries of native gold in quartz veins while ongoing bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a chemical-free process. This green gold provides the gold for the mintage of .9999 gold coins from the Yukon Mint™, a wholly owned subsidiary of Golden Predator.

For additional information:
Janet Lee-Sheriff                                                                                                            

Chief Executive Officer                                                                                               
Golden Predator Mining Corp.
(604) 260-8435
info@goldenpredator.com
www.goldenpredator.com

(1)            NI 43-101 Technical Report “Preliminary Economic Assessment for the Brewery Creek Property Yukon Territory, Canada” Release Date of November 19, 2014.
(2)            Brewery Creek Technical Report, Richard Diment, PGeo May 18, 2003

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements express or implied regarding completion of the transactions described herein, the upcoming season at 3 Aces project, and  projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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NexGen Completes Phase I of Feasibility-Stage Drill Program Intersecting High Grade Mineralization and Preliminarily Assessed Robust Geotechnical and Hydrogeological Conditions in all Areas of Arrow

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity results for an additional thirty-seven holes comprising 16,585.5 m from the Company’s Feasibility-stage drilling program at our 100% owned, Rook I property in the Athabasca Basin Saskatchewan. The Phase I resource component of the 2019 Feasibility stage program has completed 117 holes totaling 50,968 m.  Utilizing new directional drilling technology, AziDrill, the Company was able to reduce the metres required for Phase I conversion by 28% due to the ability to target mineralization more accurately with deeper directional cuts from the pilot hole.

Further, an additional 14 holes of 6,314.4 m were completed designed to geotechnically and hydrogeologically characterize the rock mass within areas of the proposed mine workings and the Underground Tailings Management Facility (“UGTMF”).

In total, the 2019 Phase I winter drilling program comprised 131 completed holes totaling 57,282.4 m.

Phase I: Conversion of Indicated to Measured Mineral Resources

This current phase of the 2019 drilling program targeted the A2 and A3 High-Grade Domains for conversion of Indicated to Measured Mineral Resources within the proposed mine plan at a drill hole spacing of between 9.0 m and 16.7 m(based on a geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions). All drill holes were collared at a steep inclination, then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional drilling technology.  The results below highlight intersections through each of the A2 and A3 High Grade Domains, respectively.

A2 High-Grade Domain Highlights

  • AR-19-265c2 intersected 53.5 m of total composite mineralization including 9.80 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 109.0 m section (497.5 to 605.5 m). Additionally, of the 9.80 m of off-scale mineralization intersected in the hole 2.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-259c1 intersected 26.5 m of total composite mineralization including 8.40 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 96.0 m section (549.0 to 645.0 m). Additionally, of the 8.40 m of off-scale mineralization intersected in the hole 1.00 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-253c1 intersected 41.0 m of total composite mineralization including 5.20 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 80.0 m section (632.0 to 712.0 m);
  • AR-19-262c1 intersected 37.5 m of total composite mineralization including 5.30 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (529.0 to 617.0 m).

A3 High-Grade Domain Highlights

  • AR-19-256c1 intersected 38.5 m of total composite mineralization including 8.10 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 96.0 m section (437.0 to 533.0 m). Additionally, of the 8.10 m of off-scale mineralization intersected in the hole 1.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-258c2 intersected 42.0 m of total composite mineralization including 10.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (413.5 to 501.5 m);
  • AR-19-263c3 intersected 46.5 m of total composite mineralization including 7.20 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 85.0 m section (584.0 to 669.0 m).

Drill hole locations are shown in Figure 1, full drilling results can be found in Table 1. Drill hole descriptions can be found at www.nexgenenergy.ca

Phase I: Testing Geotechnical and Hydrogeological Conditions within the proposed mine plan and Underground Tailings Management Facility (“UGTMF”)

An additional 14 holes totaling 6,314.4 m were completed designed to geotechnically and hydrogeologically characterize the rock mass within areas of the proposed mine plan and the UGTMF. The preliminary field analysis indicated robust rock mass conditions in all areas. A report detailing the geotechnical results is being prepared by North Rock Mining Solutions Inc. In addition, the hydrogeological data acquired from these holes is being incorporated into the hydrogeological model which will characterize the favourable hydrogeological conditions at Arrow, inclusive of the proposed UGTMF area. Both reports will be incorporated into to the Feasibility Study and Environmental Assessment for the Arrow Deposit.

Development, Activities & Financial

  • Phase I results are all pending final assays and will be released as received and finalized. The commencement of Phase II is pending final compilation and analysis of all Phase I drilling results. All programs for the Feasibility Study (H1 2020) and Environmental Assessment (H2 2020) are ongoing and on schedule.
  • NexGen commenced an Environmental Assessment on the Rook I Project on April 29, 2019 in accordance with the requirements of both the Environmental Assessment Act and the Canadian Environmental Assessment Act, 2012 (“CEAA 2012”) after receiving acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission (“CNSC”) and the Saskatchewan Ministry of Environment (“SMOE”). In addition, NexGen filed an Initial Licence Application with the CNSC under the Nuclear Safety and Control Act in order to obtain a Licence to Prepare Site and Construct for the Project.
  • NexGen welcomes the conclusion of the  section 232 investigation as reported on July 12, 2019 by Presidential Memoranda by which the President of the United States determined that he did not believe uranium imports threaten to impair the national security of the United States.  With the conclusion in hand and support for the entire nuclear energy sector in the United States, many industry observers have reported market activity and utility demand interest has already increased since mid-July for spot and mid-term delivery.
  • As of July 31, 2019, the Company had cash-on-hand of approximately $80 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: “The dual purpose 2019 Phase I drilling has produced another batch of exceptional radio activity results highlighting Arrow’s unique high grade continuity throughout the ore body, and from a development perspective, highly favourable ground conditions for the proposed mine plan and UGTMF. I would like to take the opportunity to congratulate the NexGen team on the speed, accuracy, efficiency and elite standards in executing Phase I ground work whilst in tandem successfully advancing permitting and community objectives. It’s an exciting time at NexGen and the dedication of the team inclusive of our valued service providers, community members and government is outstanding.”

Troy Boisjoli, Vice-President, Operations and Project Development, commented: “Today’s release represents a great milestone for the Project as this last batch of Phase I holes continues to show the clear continuity of high-grade mineralization across the A2 and A3 shears. These radioactivity results are particularly impressive considering the advanced shallow angle of interception into the sub-vertical Arrow orebody that AziDrill has been able to deliver over prior drill programs at Arrow. In addition, the preliminary geotechnical and hydrogeological field results indicating highly competent ground conditions for sound extraction is excellent. The strength of the Arrow resource and proposed mine plan has been further validated with the completion of the 2019 Phase 1 drill program. We look forward to incorporating all these results into an updated mineral resource, Feasibility Study and Environmental Assessment for submission.”

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca Group – 
Basement Unconformity
Depth (m)

Handheld Scintillometer Results
(RS-120/125)

Hole ID

Azimuth

Dip

Total 
Depth (m)

From
(m)

To (m)

Width
(m)

CPS Range

AR-19-251c1

327

-65

577.50

141.25

480.00

481.00

1.00

<500 –  5000

503.00

506.50

3.50

<500 –  14500

520.00

521.00

1.00

<500 –  61000

523.50

524.50

1.00

<500 –  3000

531.00

532.50

1.50

4000 –  61000

537.00

539.00

2.00

<500 –  1700

543.00

545.00

2.00

<500 –  1800

556.50

557.00

0.50

<500 –  590

AR-19-251c2

327

-65

666.50

N/A

424.50

425.00

0.50

<500 –  1400

463.00

465.00

2.00

<500 –  15000

470.00

483.50

13.50

<500 –  33000

486.00

501.00

15.00

<500 –  61000

512.00

514.00

2.00

<500 –  1200

581.50

594.00

12.50

<500 –  61000

597.50

600.00

2.50

<500 –  750

608.00

609.00

1.00

<500 –  1000

611.50

612.50

1.00

<500 –  3400

623.00

627.50

4.50

<500 –  12100

646.00

647.50

1.50

<500 –  2400

AR-19-252c1

327

-65

756.50

129.40

483.50

484.00

0.50

<500 –  2350

502.50

503.00

0.50

<500 –  15200

507.00

508.00

1.00

<500 –  2350

513.50

515.00

1.50

<500 –  1250

559.00

560.00

1.00

600 –  47600

564.50

565.00

0.50

<500 –  2200

574.00

577.50

3.50

<500 –  49000

580.50

587.50

7.00

<500 –  52800

600.00

600.50

0.50

<500 –  6800

610.50

620.50

10.00

<500 –  61000

633.00

635.00

2.00

<500 –  4400

642.00

648.50

6.50

<500 –  2400

652.50

653.00

0.50

520 –  860

661.50

662.00

0.50

<500 –  3400

664.50

665.00

0.50

<500 –  950

667.50

679.00

11.50

<500 –  61000

685.50

695.50

10.00

<500 –  10500

699.00

699.50

0.50

<500 –  1500

703.50

705.50

2.00

<500 –  3700

721.50

724.50

3.00

<500 –  14000

AR-19-252c2

327

-65

801.50

N/A

487.50

489.00

1.50

<500 –  1500

509.50

511.50

2.00

<500 –  8400

543.00

543.50

0.50

<500 –  510

546.00

547.00

1.00

<500 –  4140

559.00

559.50

0.50

<500 –  1400

576.50

584.00

7.50

<500 –  20500

589.50

592.50

3.00

<500 –  45000

595.50

604.00

8.50

<500 –  61000

606.50

611.00

4.50

<500 –  19000

620.00

628.00

8.00

<500 –  44000

634.00

634.50

0.50

<500 –  540

637.50

650.50

13.00

<500 –  3400

656.00

657.00

1.00

<500 –  2100

661.00

669.00

8.00

<500 –  2000

676.00

703.00

27.00

<500 –  61000

723.50

729.50

6.00

<500 –  27000

738.00

738.50

0.50

<500 –  580

745.00

746.00

1.00

<500 –  7200

755.50

757.00

1.50

<500 –  12600

777.50

779.50

2.00

<500 –  13000

AR-19-252c3

327

-65

804.50

N/A

496.50

497.00

0.50

<500 –  850

515.50

521.50

6.00

<500 –  6800

528.00

530.00

2.00

<500 –  9000

551.00

555.00

4.00

<500 –  12700

567.50

568.00

0.50

<500 –  760

580.50

581.50

1.00

<500 –  750

590.50

593.50

3.00

<500 –  45000

606.00

607.00

1.00

<500 –  61000

612.50

621.00

8.50

<500 –  61000

623.50

646.00

22.50

<500 –  61000

649.50

657.00

7.50

<500 –  3800

663.50

671.00

7.50

<500 –  3050

674.00

681.00

7.00

<500 –  1500

684.00

700.00

16.00

<500 –  61000

702.50

704.00

1.50

<500 –  660

706.50

711.50

5.00

<500 –  18100

718.50

729.50

11.00

<500 –  61000

738.00

739.00

1.00

1200 –  47900

750.00

755.00

5.00

<500 –  11600

774.00

776.00

2.00

<500 –  9600

783.50

784.50

1.00

<500 –  61000

AR-19-253c1

327

-65

712.00

125.45

442.50

443.50

1.00

<500 –  2650

528.00

528.50

0.50

<500 –  1100

537.00

540.50

3.50

<500 –  1800

558.50

560.00

1.50

<500 –  15500

568.00

573.00

5.00

<500 –  650

580.00

584.00

4.00

<500 –  4000

587.50

589.50

2.00

<500 –  2200

594.50

595.00

0.50

<500 –  910

623.50

624.00

0.50

<500 –  730

639.50

672.00

32.50

<500 –  61000

681.00

683.00

2.00

<500 –  15000

690.00

696.00

6.00

<500 –  52800

AR-19-253c2

327

-65

744.50

N/A

442.00

442.50

0.50

<500 –  720

506.00

507.50

1.50

<500 –  12000

538.50

541.50

3.00

<500 –  1900

547.00

548.00

1.00

<500 –  840

552.50

558.50

6.00

<500 –  2500

568.50

569.00

0.50

660 –  3150

583.50

585.00

1.50

<500 –  1050

591.50

592.00

0.50

<500 –  1580

606.00

609.00

3.00

<500 –  820

635.50

640.50

5.00

<500 –  2500

651.00

685.00

34.00

<500 –  61000

687.50

688.50

1.00

<500 –  6640

692.50

701.00

8.50

<500 –  13200

706.50

709.50

3.00

<500 –  3350

742.00

742.50

0.50

<500 –  1000

AR-19-254c1

327

-65

684.50

133.10

479.00

480.00

1.00

<500 –  5600

522.00

522.50

0.50

<500 –  550

527.50

528.00

0.50

<500 –  790

533.50

534.00

0.50

<500 –  620

616.50

625.00

8.50

<500 –  6500

631.50

641.00

9.50

<500 –  10200

649.00

651.50

2.50

<500 –  15000

657.00

663.00

6.00

<500 –  12000

AR-19-254c2

327

-65

699.50

N/A

468.50

469.00

0.50

<500 –  550

471.50

472.00

0.50

<500 –  900

483.50

484.00

0.50

700 –  13100

514.50

515.00

0.50

<500 –  1100

528.00

529.50

1.50

<500 –  25000

533.00

534.50

1.50

<500 –  25000

538.50

539.50

1.00

<500 –  29100

542.50

550.50

8.00

<500 –  2800

609.50

610.00

0.50

<500 –  580

622.00

623.50

1.50

<500 –  3300

628.00

658.00

30.00

<500 –  24000

665.50

670.00

4.50

<500 –  61000

AR-19-255c1

327

-65

609.50

122.40

505.00

506.00

1.00

<500 –  1580

510.50

513.00

2.50

<500 –  1700

520.00

523.50

3.50

<500 –  1400

545.50

565.00

19.50

<500 –  61000

568.50

569.00

0.50

670 –  2000

588.00

589.00

1.00

<500 –  5600

AR-19-255c2

327

-65

609.50

N/A

523.00

523.50

0.50

<500 –  7500

526.00

532.50

6.50

<500 –  4400

551.00

561.50

10.50

<500 –  61000

565.00

568.00

3.00

<500 –  910

579.00

579.50

0.50

<500 –  750

582.00

587.50

5.50

<500 –  4000

AR-19-255c3

327

-65

626.00

N/A

436.50

437.00

0.50

<500 –  2600

454.00

454.50

0.50

850 –  1300

504.00

507.50

3.50

<500 –  700

510.50

511.50

1.00

<500 –  2600

514.00

520.50

6.50

<500 –  2600

528.00

530.00

2.00

<500 –  5700

533.50

535.50

2.00

<500 –  3960

538.50

539.50

1.00

<500 –  4300

549.00

550.00

1.00

<500 –  2400

567.50

584.50

17.00

<500 –  61000

587.50

589.50

2.00

<500 –  2100

603.00

603.50

0.50

570 –  1240

606.00

606.50

0.50

<500 –  500

AR-19-256c1

327

-65

537.00

141.00

453.50

456.50

3.00

<500 –  23000

467.00

467.50

0.50

800 –  27000

471.50

472.50

1.00

<500 –  15200

478.00

512.00

34.00

<500 –  61000

AR-19-256c2

327

-65

552.50

N/A

457.50

458.50

1.00

<500 –  5850

463.00

467.50

4.50

<500 –  6300

470.00

470.50

0.50

<500 –  1500

474.00

476.00

2.00

<500 –  4000

480.00

481.00

1.00

750 –  13000

484.50

485.00

0.50

<500 –  720

488.00

489.00

1.00

<500 –  1400

492.00

516.50

24.50

<500 –  61000

AR-19-256c3

327

-65

705.20

N/A

461.50

462.00

0.50

<500 –  1600

469.00

471.50

2.50

<500 –  990

479.00

481.00

2.00

<500 –  7400

483.50

484.00

0.50

<500 –  550

487.00

487.50

0.50

<500 –  21000

491.00

491.50

0.50

3400 –  61000

501.00

505.50

4.50

<500 –  61000

512.00

513.50

1.50

<500 –  6000

516.50

527.00

10.50

<500 –  26900

543.50

544.00

0.50

<500 –  530

547.50

550.50

3.00

<500 –  640

655.50

660.50

5.00

<500 –  2500

674.50

678.00

3.50

<500 –  1980

698.00

698.50

0.50

<500 –  800

AR-19-257c1

327

-65

651.50

120.50

480.00

481.50

1.50

<500 –  7850

524.00

524.50

0.50

<500 –  1060

536.00

538.00

2.00

<500 –  1750

553.00

554.00

1.00

<500 –  790

561.50

563.00

1.50

<500 –  8800

570.00

571.00

1.00

<500 –  12500

586.00

594.50

8.50

<500 –  30000

601.50

602.50

1.00

<500 –  22000

614.50

617.00

2.50

<500 –  1800

622.50

631.50

9.00

<500 –  7200

AR-19-257c2

327

-65

666.50

N/A

526.00

527.50

1.50

<500 –  4100

549.00

550.00

1.00

<500 –  5800

560.00

564.50

4.50

<500 –  1700

582.00

582.50

0.50

<500 –  880

598.00

600.00

2.00

<500 –  15000

611.00

612.50

1.50

<500 –  61000

637.00

641.50

4.50

<500 –  3550

AR-19-257c3

327

-65

654.50

N/A

482.50

483.00

0.50

<500 –  1100

487.00

487.50

0.50

<500 –  1300

491.00

491.50

0.50

<500 –  1000

517.50

518.50

1.00

<500 –  6900

526.00

527.00

1.00

<500 –  8900

539.50

542.50

3.00

<500 –  2300

546.50

547.50

1.00

<500 –  1250

555.50

557.00

1.50

<500 –  26000

568.50

571.00

2.50

<500 –  1000

584.00

585.00

1.00

<500 –  600

587.50

597.00

9.50

<500 –  61000

600.00

600.50

0.50

<500 –  2500

606.00

612.00

6.00

<500 –  61000

614.50

621.00

6.50

<500 –  36500

624.50

630.50

6.00

<500 –  1200

AR-19-257c4

327

-65

666.50

N/A

485.00

485.50

0.50

<500 –  970

490.00

491.50

1.50

<500 –  1300

517.00

528.00

11.00

<500 –  4900

559.50

560.50

1.00

<500 –  3500

564.50

565.00

0.50

<500 –  1900

570.00

571.00

1.00

<500 –  1800

573.50

574.00

0.50

<500 –  2100

598.00

598.50

0.50

3700 –  30400

606.00

606.50

0.50

<500 –  1000

610.00

610.50

0.50

<500 –  1900

621.00

630.50

9.50

<500 –  14000

637.00

644.00

7.00

<500 –  2900

AR-19-258c1

327

-65

495.50

138.05

418.00

419.00

1.00

<500 –  11200

436.00

447.50

11.50

<500 –  48300

452.50

462.00

9.50

<500 –  61000

466.50

470.50

4.00

<500 –  1900

476.50

481.50

5.00

<500 –  3100

484.00

487.50

3.50

<500 –  2200

493.50

495.50

2.00

<500 –  1200

AR-19-258c2

327

-65

501.50

N/A

413.50

414.00

0.50

550 –  6700

419.00

419.50

0.50

<500 –  870

427.00

428.00

1.00

1350 –  38700

446.50

480.50

34.00

<500 –  61000

485.00

489.50

4.50

<500 –  1500

494.50

496.00

1.50

<500 –  560

501.00

501.00

0.00

<500 –  710

AR-19-259c1

327

-65

651.50

127.95

456.00

457.00

1.00

<500 –  970

460.50

461.00

0.50

<500 –  1050

483.00

490.00

7.00

<500 –  4900

508.50

509.00

0.50

<500 –  820

583.50

596.00

12.50

<500 –  61000

598.50

607.00

8.50

<500 –  61000

613.00

613.50

0.50

<500 –  580

616.50

621.50

5.00

<500 –  25700

AR-19-259c2

327

-65

666.50

N/A

462.50

463.00

0.50

<500 –  880

493.00

494.00

1.00

<500 –  32600

502.50

503.50

1.00

<500 –  900

508.00

508.50

0.50

<500 –  3600

524.00

525.00

1.00

<500 –  900

565.00

566.00

1.00

<500 –  600

596.50

604.00

7.50

<500 –  61000

607.50

609.00

1.50

<500 –  11200

614.50

619.50

5.00

<500 –  3500

628.00

628.50

0.50

<500 –  630

631.00

634.50

3.50

<500 –  12400

637.50

638.50

1.00

<500 –  1300

AR-19-260c1

327

-65

600.50

126.00

436.50

437.00

0.50

<500 –  1900

454.00

454.50

0.50

<500 –  610

470.00

470.50

0.50

<500 –  530

476.50

477.50

1.00

<500 –  6000

481.00

481.50

0.50

<500 –  820

493.50

495.50

2.00

<500 –  1300

500.00

503.00

3.00

<500 –  2300

507.50

508.00

0.50

<500 –  620

527.50

548.50

21.00

<500 –  43000

AR-19-260c2

327

-65

597.50

N/A

475.00

476.00

1.00

<500 –  1100

483.00

484.00

1.00

<500 –  2100

490.50

491.50

1.00

<500 –  530

494.00

494.50

0.50

<500 –  540

498.00

498.50

0.50

<500 –  780

502.00

504.50

2.50

<500 –  1700

515.50

516.00

0.50

<500 –  510

521.00

544.00

23.00

<500 –  61000

AR-19-261c1

327

-65

765.50

120.80

195.50

196.00

0.50

<500 –  670

541.50

542.50

1.00

<500 –  9500

553.50

559.00

5.50

<500 –  14500

563.00

564.00

1.00

<500 –  11000

567.00

568.00

1.00

<500 –  1000

575.00

575.50

0.50

2000 –  50000

578.50

579.50

1.00

<500 –  61000

594.50

595.00

0.50

<500 –  700

608.00

616.00

8.00

<500 –  4100

621.50

623.50

2.00

<500 –  1900

627.50

628.50

1.00

<500 –  1600

631.50

634.50

3.00

<500 –  1800

658.00

662.50

4.50

<500 –  2400

671.50

689.00

17.50

<500 –  61000

695.00

716.00

21.00

<500 –  4700

721.00

722.50

1.50

<500 –  1100

AR-19-261c2

327

-65

774.50

N/A

497.50

499.00

1.50

<500 –  1300

520.50

521.00

0.50

<500 –  2400

553.00

554.50

1.50

<500 –  4100

566.00

568.50

2.50

<500 –  5900

571.00

576.50

5.50

<500 –  41000

589.50

592.50

3.00

<500 –  45100

612.50

615.00

2.50

<500 –  1100

626.50

628.00

1.50

<500 –  1800

635.50

638.00

2.50

<500 –  1600

652.50

653.00

0.50

<500 –  520

666.50

667.50

1.00

<500 –  850

671.50

687.50

16.00

<500 –  61000

695.00

695.50

0.50

<500 –  2080

698.00

699.00

1.00

<500 –  750

AR-19-262c1

327

-65

636.50

125.00

484.50

485.00

0.50

<500 –  660

492.00

492.50

0.50

<500 –  800

503.00

506.50

3.50

<500 –  2700

516.00

521.50

5.50

<500 –  1800

560.50

573.50

13.00

<500 –  61000

576.50

577.00

0.50

<500 –  610

585.00

593.50

8.50

<500 –  3800

596.00

599.50

3.50

<500 –  2150

602.00

604.50

2.50

<500 –  990

607.50

617.00

9.50

<500 –  61000

AR-19-262c2

327

-65

648.50

N/A

494.50

497.00

2.50

<500 –  4200

506.00

509.50

3.50

<500 –  1750

517.00

518.00

1.00

<500 –  850

520.50

521.00

0.50

<500 –  650

526.00

527.00

1.00

<500 –  920

537.00

537.50

0.50

<500 –  650

558.50

559.00

0.50

<500 –  1100

568.50

576.50

8.00

<500 –  61000

580.50

583.00

2.50

<500 –  6600

592.00

594.00

2.00

<500 –  1500

600.50

620.00

19.50

<500 –  12500

626.50

628.00

1.50

<500 –  900

AR-19-262c3

327

-65

654.50

N/A

492.50

493.50

1.00

<500 –  2200

496.00

497.00

1.00

<500 –  1450

502.00

502.50

0.50

<500 –  560

505.50

507.50

2.00

<500 –  1200

532.50

533.50

1.00

<500 –  3300

555.50

556.50

1.00

<500 –  1100

577.50

597.00

19.50

<500 –  61000

601.00

601.50

0.50

<500 –  1050

605.50

608.00

2.50

<500 –  820

614.50

615.00

0.50

<500 –  540

617.50

627.00

9.50

<500 –  17200

634.50

637.00

2.50

<500 –  2400

640.00

642.50

2.50

<500 –  730

AR-19-263c1

325

-65

662.00

136.30

539.00

546.00

7.00

<500 –  19000

557.50

558.00

0.50

<500 –  1700

566.50

568.50

2.00

<500 –  8500

575.50

590.00

14.50

<500 –  27000

594.50

595.50

1.00

<500 –  15000

598.50

602.00

3.50

<500 –  25000

605.00

611.50

6.50

<500 –  61000

614.50

638.50

24.00

<500 –  61000

641.00

644.00

3.00

<500 –  1200

AR-19-263c2

325

-65

666.50

N/A

540.00

545.00

5.00

<500 –  32000

560.00

582.50

22.50

<500 –  61000

590.50

592.50

2.00

<500 –  9800

605.00

611.00

6.00

<500 –  2800

619.00

627.50

8.50

<500 –  61000

634.00

636.50

2.50

<500 –  1100

640.50

641.00

0.50

<500 –  530

644.50

645.50

1.00

<500 –  1000

AR-19-263c3

325

-65

669.50

N/A

535.00

536.00

1.00

<500 –  700

547.00

550.50

3.50

<500 –  47000

567.50

568.50

1.00

<500 –  2450

573.00

573.50

0.50

<500 –  1120

581.50

584.00

2.50

<500 –  2600

589.00

594.50

5.50

<500 –  8800

597.00

598.50

1.50

<500 –  6300

601.50

604.50

3.00

<500 –  12000

614.00

619.50

5.50

<500 –  61000

622.00

626.00

4.00

<500 –  61000

631.00

654.00

23.00

<500 –  61000

656.50

660.50

4.00

<500 –  2150

AR-19-264c1

327

-65

759.50

124.85

503.00

503.50

0.50

<500 –  540

532.00

534.00

2.00

<500 –  5000

541.00

541.50

0.50

500 –  6300

564.50

565.00

0.50

<500 –  720

572.00

572.50

0.50

<500 –  1900

580.50

581.50

1.00

<500 –  2600

591.50

596.00

4.50

<500 –  8200

598.50

599.00

0.50

<500 –  510

606.00

606.50

0.50

<500 –  580

610.00

610.50

0.50

<500 –  500

621.00

622.00

1.00

<500 –  2200

641.50

645.50

4.00

<500 –  2100

657.00

658.00

1.00

<500 –  610

663.50

664.50

1.00

<500 –  5600

669.00

681.00

12.00

<500 –  61000

686.50

690.50

4.00

<500 –  11000

694.00

707.00

13.00

<500 –  6600

711.00

730.50

19.50

<500 –  61000

757.00

757.50

0.50

<500 –  3500

AR-19-264c2

327

-65

789.50

N/A

535.50

536.00

0.50

2500 –  39000

580.00

581.00

1.00

<500 –  680

585.50

587.50

2.00

<500 –  2800

593.00

595.50

2.50

<500 –  2100

600.50

604.50

4.00

<500 –  61000

615.50

616.00

0.50

<500 –  790

623.00

630.50

7.50

<500 –  1780

638.00

638.50

0.50

<500 –  620

646.00

647.50

1.50

<500 –  1100

652.00

652.50

0.50

<500 –  2000

667.50

668.50

1.00

<500 –  1100

677.00

696.00

19.00

<500 –  61000

701.00

714.00

13.00

<500 –  61000

717.00

728.50

11.50

<500 –  61000

731.00

735.00

4.00

<500 –  6000

742.00

746.50

4.50

<500 –  4500

749.00

749.50

0.50

<500 –  2100

753.50

755.00

1.50

<500 –  1270

775.00

776.50

1.50

<500 –  5400

AR-19-265c1

327

-65

615.50

125.20

456.00

458.00

2.00

<500 –  1500

479.00

480.50

1.50

<500 –  1700

484.50

486.00

1.50

<500 –  3300

490.00

492.50

2.50

<500 –  850

500.00

503.00

3.00

<500 –  2700

510.00

511.50

1.50

<500 –  1020

515.00

516.50

1.50

<500 –  1100

529.50

556.50

27.00

<500 –  61000

560.50

569.00

8.50

<500 –  8700

571.50

579.50

8.00

<500 –  4150

591.50

592.50

1.00

560 –  7100

AR-19-265c2

327

-65

627.50

N/A

445.00

445.50

0.50

<500 –  1050

475.50

484.00

8.50

<500 –  2630

497.50

498.50

1.00

<500 –  750

501.00

501.50

0.50

<500 –  550

508.50

509.00

0.50

<500 –  580

516.00

516.50

0.50

<500 –  930

522.50

523.00

0.50

<500 –  530

532.00

532.50

0.50

<500 –  1200

535.50

570.50

35.00

<500 –  61000

573.50

577.00

3.50

<500 –  4500

588.00

590.00

2.00

<500 –  1800

594.00

597.50

3.50

<500 –  4200

600.50

606.50

6.00

<500 –  26100

Parameters:

• 

Maximum internal dilution 2.00 m downhole

• 

All depths and intervals are metres downhole, true thicknesses are yet to be determined

• 

“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

• 

Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip

• 

If a drill hole deviates from a target a section of the drill hole may need to be re-drilled – this can potentially cause small discrepancies (in metres) between the reported total length of a drill hole (depth at end of hole minus the starting depth) and the actual number of metres drilled for a given drill hole.

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 uranium deposits and in developing projects through discovery to production.

NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada; including a 100% interest in Rook I, location of the Arrow Deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC’s 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O’Hara, P.Eng. of Wood., David Robson, P.Eng., M.B.A., and Jason Cox, P.Eng. of RPA, each of whom is a “qualified person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101“).

The Mineral Resource Estimate was completed by Mr. Mark Mathisen, C.P.G., Senior Geologist at RPA and Mr. David Ross, P.Geo., Director of Resource Estimation and Principal Geologist at RPA.  Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen.  Mr. Boisjoli is a qualified person for the purposes of NI 43-101 and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols.  All other technical information in this news release has been approved by Mr. James Hatley, a Professional Engineer, Senior Vice-President – Project Development for NexGen.  Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.

A technical report in respect to the PFS is filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) and is available for review on NexGen Energy’s website (www.nexgenenergy.ca).

SEC Standards

Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of “contained pounds” in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Technical Information

For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource please refer to the technical report entitled “Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study” dated effective 5 November, 2018 (the “Rook 1 Technical Report”) prepared by Paul O’Hara, P.Eng., Jason J. Cox, P.Eng., David M. Robson, P.Eng., M.B.A., Mark B. Mathisen, C.P.G. each of whom is a “qualified person” under NI 43-101. The Rook I Technical Report is available for review under the Company’s profile on SEDAR at www.sedar.com and EDGAR (www.sec.gov/edgar.shtml) providing details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource and is available on NexGen Energy’s website (www.nexgenenergy.ca).

Forward-Looking Information

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company’s Annual Information Form dated March 4, 2019 under “Risk Factors”.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company 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.

SOURCE NexGen Energy Ltd.

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca, www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, http://www.nexgenenergy.ca

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http://www.nexgenenergy.ca/

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