VANCOUVER, May 2, 2018 /PRNewswire/ – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, NYSE MKT:NXE)is pleased to report radioactivity results for fifty-four holes comprising 30,208 m from Arrow, South Arrow and regional exploration as part of our now concluded winter drilling program on our 100% owned, Rook I property, in the AthabascaBasin, Saskatchewan.
Highlights:
Discovery of A0 Shear
Follow up drilling to the northwest of the Arrow deposit (where hole GAR-17-001 recently discovered mineralization that returned 8.0 m at 1.43% U3O8) has successfully confirmed mineralization in a new shear named the “A0 Shear”.
- AR-18-187c3 intersected 33.0 m of total composite mineralization including 0.3 m of total composite off-scale radioactivity (>10,000 to 17,000 cps) within a 67.5 m section (535.5 to 603.0 m) in the A0 shear.
New Mineralization Intersected 160 m Northwest of the AO Shear
Furthermore, the last hole of the 2018 winter program intersected off-scale mineralization 160 m northwest of the A0 shear. This new area of mineralization has yet to be defined, meaning the northwest remains completely open and untested for the future expansion of the Arrow Deposit.
- AR-18-208c1 intersected 10.5 m of total composite mineralization including 0.2 m of total composite off-scale radioactivity (>10,000 to 32,800 cps) within a 182.5 m section (562.0 to 744.5 m) northwest of the A0 shear zone.
Mineralization Intersected to the Northeast of the A1 and A2 Shears
Drilling focused to the northeast of the Arrow Deposit, testing 50 m along strike from known mineralization at varying elevations intersected significant mineralization within the A1 and A2 shears. The systematic step-outs to the northeast show that Arrow remains largely open and untested at these elevations in the A1 and A2 shears.
- AR-18-189c4 intersected 40.0 m of total composite mineralization including 3.9 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 54.0 m section (820.0 to 874.0 m) in the A1 and A2 shears. The hole successfully expanded both the A1 and A2 shear zones to the northeast of existing A1 and A2 inferred resource grade shells.
A2 Shear Expansion
- AR-18-186c1 intersected 28.5 m of total composite mineralization including 5.3 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 45.0 m section (507.5 to 552.5 m) in the A2 shear. The hole successfully expanded the thickness of the A2 shear zone to the northeast of the current A2 Inferred resource grade shells.
- AR-18-200c2 intersected 36.0 m of total composite mineralization including 5.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 43.0 m section (739 to 782.0 m) in the A2 shear. The hole expanded the thickness of the A2 shear zone, down-dip from the existing A2 high-grade domain.
A3 Shear Infill
Positive infill drill results from the A3 high-grade domains continued, where the objective was to convert Inferred to Indicated Mineral Resources, where the Indicated Mineral Resources only will be incorporated into the Pre-Feasibility Study scheduled for Q3/2018 release.
- AR-18-202c1 intersected 40.0 m of total composite mineralization including 4.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 119.5 m section (477.5 to 597.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.
- AR-18-186c2 intersected 55.0 m of total composite mineralization including 3.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 123.0 m section (393.0 to 516.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.
- AR-18-197c3 intersected 40.0 m of total composite mineralization including 3.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 116.5 m section (595.0 to 711.5 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.
Regional Exploration
South Arrow
Expansion drilling intersected mineralization including off-scale radioactivity which was 175 m southwest of the main zone of mineralization at South Arrow. The target area remains prospective for future exploration and expansion.
- AR-18-199c1 intersected 9.5 m of total composite mineralization including 0.1 m of total composite off-scale radioactivity (>10,000 to 13,500 cps) within a 32.5 m section (345.5 to 378.0 m).
Patterson Conductor Corridor
Regional drilling on the Patterson Corridor focused on two high priority target areas, which included Mirror and the Arrow VTEM Conductor. The Mirror target area is located 1.5 km southeast of the Arrow Deposit along a parallel conductor. The drill holes in the area successfully intersected the targeted VTEM conductor but did not encounter significant uranium mineralization. The Arrow Conductor is situated approximately 2.5 km southwest and along strike from the Arrow Deposit, hosted within the same VTEM conductor. Arrow-type silicified semi-pelitic gneiss was intersected throughout in all of the 6 holes drilled in the area. Moderate to intense sericitic alteration, similar to Arrow-type alteration found proximal to the Arrow deposit was intersected in several of the drill holes.
Drill hole locations and long sections are shown in Figures 1 to 4. Drill hole descriptions can be found at www.nexgenenergy.ca
Development, Activities & Financial
- The Arrow Deposit remains open in most directions, with high potential for future high-grade discoveries in close proximity to existing mineral resources.
- Pre-feasibility staged technical studies including geotechnical work, hydrogeological work, and metallurgy continue in advance of the updated Mineral Resource Estimate and maiden Pre-Feasibility Study scheduled for the end of Q3 / early Q4 2018.
- The Company has cash on hand of approximately ~$150 million.
Troy Boisjoli, Vice-President, Operations and Project Development, commented: “The four winter 2018 drill program objectives were successfully reached. Two significant exploration initiatives resulted in the discovery of an A0 shear zone, and secondly testing 160 m northwest of the A0 shear has also intersected intense mineralization within another, yet to be defined zone which remains open. Additionally, expansion of Mineral Resources within the A1 and A2 shear zones from the AR-18-189 series holes demonstrate Arrow remains open on strike. The continued success of resource expansion and near Arrow exploration drilling, from my experience, indicates the absolute scale of the Arrow Deposit will not be fully realized without significantly more drilling and ultimately, not until underground. Furthermore, the infill drilling highlights the robustness of the Arrow Mineral Resource model and has maximized available Indicated Mineral Resources for the purpose of the maiden Pre-Feasibility Study. Regional exploration testing along strike from the Arrow Deposit successfully intersected prospective, Arrow-type alteration and lithological packages which highlights the potential for future discoveries along the Patterson Lake Corridor. The team is looking forward to testing the new A0 shear, northwest of the A0, northeast of the A1 and A2 and to the southwest of Arrow during summer 2018. ”
Leigh Curyer, Chief Executive Officer, commented: “The targeted winter drill campaign focused on converting Inferred to Indicated, expanding the overall footprint in previously untested areas and understanding future growth potential of Arrow. All of these were successfully achieved and with the discovery of the A0, intense mineralization 160m to the northwest of the A0, and to the northeast of the A1 and A2 shears, suggests substantial drilling is required to determine the ultimate extent of Arrow. Troy and his team are already in planning for a summer 2018 exploration and development program.”
Table 1: Arrow Drill Hole Data
Drill Hole | Athabasca Depth (m) | Handheld Scintillometer Results (RS-120) | ||||||
Hole ID | Azimuth | Dip | Total | From (m) | To (m) | Width | CPS Range | |
AR-18-186c1 | 330 | -68 | 840.50 | 132.00 | 389.00 | 392.00 | 3.00 | <500 – 33000 |
405.50 | 406.00 | 0.50 | <500 – 1020 | |||||
412.50 | 413.50 | 1.00 | <500 – 8000 | |||||
417.00 | 426.50 | 9.50 | <500 – 9000 | |||||
430.00 | 441.50 | 11.50 | <500 – 61000 | |||||
446.00 | 446.50 | 0.50 | <500 – 850 | |||||
454.00 | 462.50 | 8.50 | <500 – 3800 | |||||
467.50 | 469.00 | 1.50 | <500 – 1480 | |||||
507.50 | 514.50 | 7.00 | <500 – 1450 | |||||
531.00 | 552.50 | 21.50 | <500 – 61000 | |||||
582.50 | 583.00 | 0.50 | <500 – 860 | |||||
585.50 | 586.00 | 0.50 | <500 – 600 | |||||
590.00 | 597.50 | 7.50 | <500 – 61000 | |||||
666.00 | 666.50 | 0.50 | <500 – 680 | |||||
745.00 | 746.50 | 1.50 | <500 – 1900 | |||||
AR-18-186c2 | 330 | -68 | 561.50 | N/A | 393.00 | 394.50 | 1.50 | <500 – 1700 |
406.00 | 407.00 | 1.00 | <500 – 2300 | |||||
411.00 | 411.50 | 0.50 | <500 – 2740 | |||||
432.00 | 435.50 | 3.50 | <500 – 12000 | |||||
442.50 | 445.00 | 2.50 | <500 – 61000 | |||||
448.00 | 452.50 | 4.50 | <500 – 16000 | |||||
455.50 | 476.00 | 20.50 | <500 – 61000 | |||||
479.50 | 482.50 | 3.00 | <500 – 1720 | |||||
487.50 | 488.00 | 0.50 | <500 – 520 | |||||
492.00 | 505.00 | 13.00 | <500 – 4700 | |||||
507.50 | 508.50 | 1.00 | <500 – 2300 | |||||
512.50 | 516.00 | 3.50 | <500 – 1800 | |||||
550.00 | 554.00 | 4.00 | <500 – 1250 | |||||
AR-18-187c1 | 327 | -70 | 657.50 | 117.00 | 237.50 | 238.00 | 0.50 | <500 – 9400 |
276.50 | 308.00 | 31.50 | <500 – 5800 | |||||
316.00 | 320.50 | 4.50 | <500 – 2710 | |||||
325.50 | 326.00 | 0.50 | <500 – 505 | |||||
333.00 | 333.50 | 0.50 | 830 – 2690 | |||||
350.00 | 350.50 | 0.50 | <500 – 1730 | |||||
402.50 | 406.50 | 4.00 | <500 – 850 | |||||
421.00 | 423.50 | 2.50 | <500 – 1500 | |||||
437.00 | 444.00 | 7.00 | <500 – 1490 | |||||
478.50 | 481.50 | 3.00 | <500 – 1100 | |||||
521.00 | 523.50 | 2.50 | <500 – 26000 | |||||
AR-18-187c2 | 327 | -70 | 930.50 | N/A | 281.00 | 283.50 | 2.50 | <500 – 930 |
301.50 | 328.50 | 27.00 | <500 – 5230 | |||||
331.00 | 331.50 | 0.50 | 750 – 1000 | |||||
335.50 | 343.00 | 7.50 | <500 – 1160 | |||||
346.50 | 347.00 | 0.50 | <500 – 710 | |||||
356.50 | 357.00 | 0.50 | <500 – 600 | |||||
394.50 | 395.00 | 0.50 | <500 – 900 | |||||
398.50 | 399.00 | 0.50 | <500 – 540 | |||||
405.50 | 411.00 | 5.50 | <500 – 1100 | |||||
414.00 | 431.00 | 17.00 | <500 – 61000 | |||||
455.50 | 456.00 | 0.50 | <500 – 520 | |||||
487.00 | 495.00 | 8.00 | <500 – 1270 | |||||
892.50 | 893.50 | 1.00 | <500 – 780 | |||||
AR-18-187c3 | 327 | -70 | 914.50 | N/A | 280.50 | 282.00 | 1.50 | <500 – 700 |
288.00 | 302.00 | 14.00 | <500 – 6580 | |||||
309.00 | 315.50 | 6.50 | <500 – 3400 | |||||
330.00 | 347.50 | 17.50 | <500 – 3400 | |||||
350.50 | 352.50 | 2.00 | <500 – 1210 | |||||
359.50 | 360.50 | 1.00 | <500 – 720 | |||||
408.50 | 413.00 | 4.50 | <500 – 1200 | |||||
426.00 | 428.50 | 2.50 | <500 – 880 | |||||
535.50 | 536.50 | 1.00 | <500 – 690 | |||||
547.00 | 548.50 | 1.50 | <500 – 17000 | |||||
552.50 | 557.00 | 4.50 | <500 – 3590 | |||||
559.50 | 560.50 | 1.00 | <500 – 710 | |||||
563.50 | 580.00 | 16.50 | <500 – 2040 | |||||
583.50 | 585.50 | 2.00 | <500 – 1260 | |||||
596.50 | 603.00 | 6.50 | <500 – 9800 | |||||
AR-18-187c4 | 327 | -70 | 918.50 | N/A | 283.00 | 330.50 | 47.50 | <500 – 33000 |
339.50 | 340.00 | 0.50 | <500 – 550 | |||||
401.00 | 404.50 | 3.50 | <500 – 3000 | |||||
407.50 | 408.00 | 0.50 | <500 – 720 | |||||
412.50 | 417.00 | 4.50 | <500 – 19500 | |||||
419.50 | 427.00 | 7.50 | <500 – 27000 | |||||
448.50 | 453.00 | 4.50 | <500 – 2800 | |||||
460.00 | 460.50 | 0.50 | <500 – 540 | |||||
675.50 | 677.50 | 2.00 | <500 – 1600 | |||||
AR-18-188c1 | 327 | -70 | 519.00 | 125.65 | 420.00 | 420.50 | 0.50 | <500 – 630 |
432.00 | 432.50 | 0.50 | <500 – 680 | |||||
477.50 | 478.00 | 0.50 | <500 – 550 | |||||
483.50 | 489.00 | 5.50 | <500 – 1800 | |||||
AR-18-188c2 | 327 | -70 | 582.00 | N/A | 428.00 | 428.50 | 0.50 | <500 – 620 |
432.50 | 434.00 | 1.50 | <500 – 1050 | |||||
486.50 | 487.00 | 0.50 | <500 – 725 | |||||
493.00 | 495.00 | 2.00 | <500 – 15400 | |||||
500.00 | 501.50 | 1.50 | <500 – 40000 | |||||
505.50 | 507.00 | 1.50 | <500 – 61000 | |||||
AR-18-188c3 | 327 | -70 | 597.00 | N/A | 440.00 | 440.50 | 0.50 | <500 – 760 |
443.50 | 444.50 | 1.00 | <500 – 760 | |||||
495.50 | 496.00 | 0.50 | <500 – 510 | |||||
506.50 | 512.00 | 5.50 | <500 – 2100 | |||||
517.00 | 519.00 | 2.00 | <500 – 9600 | |||||
521.50 | 527.00 | 5.50 | <500 – 7800 | |||||
558.50 | 559.00 | 0.50 | <500 – 560 | |||||
AR-18-189c1 | 327 | -70 | 984.50 | 128.00 | 704.00 | 705.00 | 1.00 | <500 – 1100 |
855.00 | 859.00 | 4.00 | <500 – 2258 | |||||
867.00 | 871.00 | 4.00 | <500 – 8200 | |||||
884.50 | 885.50 | 1.00 | <500 – 1400 | |||||
AR-18-189c2 | 327 | -70 | 1056.50 | N/A | No Anomalous Radioactivity | |||
AR-18-189c3 | 327 | -70 | 972.50 | N/A | 828.50 | 836.50 | 8.00 | <500 – 4700 |
843.50 | 848.00 | 4.50 | <500 – 2200 | |||||
850.50 | 855.00 | 4.50 | <500 – 2400 | |||||
862.50 | 873.00 | 10.50 | <500 – 5600 | |||||
879.50 | 885.00 | 5.50 | <500 – 35000 | |||||
AR-18-189c4 | 327 | -70 | 930.50 | N/A | 820.00 | 826.00 | 6.00 | <500 – 61000 |
832.00 | 852.50 | 20.50 | <500 – 61000 | |||||
855.50 | 868.50 | 13.00 | <500 – 18500 | |||||
873.50 | 874.00 | 0.50 | <500 – 600 | |||||
AR-18-189c5 | 327 | -70 | 915.50 | N/A | 424.50 | 425.00 | 0.50 | <500 – 1240 |
798.50 | 802.50 | 4.00 | <500 – 24400 | |||||
807.00 | 808.50 | 1.50 | <500 – 2000 | |||||
812.50 | 813.00 | 0.50 | <500 – 840 | |||||
816.50 | 819.50 | 3.00 | <500 – 950 | |||||
829.50 | 832.50 | 3.00 | <500 – 8000 | |||||
836.00 | 842.00 | 6.00 | <500 – 6800 | |||||
AR-18-195c1 | 327 | -70 | 519.50 | N/A | 395.50 | 396.00 | 0.50 | <500 – 600 |
406.50 | 407.00 | 0.50 | <500 – 1010 | |||||
409.50 | 410.50 | 1.00 | <500 – 3700 | |||||
414.00 | 415.00 | 1.00 | <500 – 39000 | |||||
428.50 | 432.00 | 3.50 | <500 – 61000 | |||||
436.00 | 465.00 | 29.00 | <500 – 61000 | |||||
AR-18-195c2 | 327 | -70 | 543.50 | N/A | 405.00 | 406.00 | 1.00 | <500 – 3000 |
409.00 | 409.50 | 0.50 | <500 – 630 | |||||
415.50 | 416.00 | 0.50 | <500 – 20000 | |||||
420.00 | 421.00 | 1.00 | <500 – 4500 | |||||
431.00 | 433.00 | 2.00 | <500 – 61000 | |||||
441.50 | 442.00 | 0.50 | <500 – 4800 | |||||
446.00 | 451.00 | 5.00 | <500 – 22000 | |||||
457.00 | 460.50 | 3.50 | <500 – 33000 | |||||
463.00 | 463.50 | 0.50 | <500 – 1700 | |||||
467.00 | 469.50 | 2.50 | <500 – 16000 | |||||
472.50 | 486.00 | 13.50 | <500 – 61000 | |||||
AR-18-195c3 | 327 | -70 | 501.50 | N/A | 387.00 | 395.50 | 8.50 | <500 – 3200 |
398.00 | 405.00 | 7.00 | <500 – 8000 | |||||
430.00 | 433.00 | 3.00 | <500 – 1060 | |||||
436.00 | 437.00 | 1.00 | <500 – 1100 | |||||
AR-18-197c1 | 327 | -70 | 630.50 | N/A | 522.50 | 523.00 | 0.50 | <500 – 580 |
563.00 | 564.50 | 1.50 | <500 – 28000 | |||||
575.50 | 576.50 | 1.00 | <500 – 60000 | |||||
582.00 | 582.50 | 0.50 | <500 – 2050 | |||||
587.00 | 591.50 | 4.50 | <500 – 2550 | |||||
595.50 | 596.50 | 1.00 | <500 – 1300 | |||||
606.50 | 608.50 | 2.00 | <500 – 1400 | |||||
612.50 | 618.50 | 6.00 | <500 – 2200 | |||||
623.00 | 627.00 | 4.00 | <500 – 830 | |||||
630.00 | 630.50 | 0.50 | <500 – 1450 | |||||
AR-18-197c2 | 327 | -70 | 813.50 | N/A | 585.00 | 585.50 | 0.50 | 500 – 20500 |
594.50 | 598.00 | 3.50 | <500 – 5800 | |||||
610.50 | 620.50 | 10.00 | <500 – 61000 | |||||
624.00 | 629.50 | 5.50 | <500 – 2800 | |||||
690.00 | 696.50 | 6.50 | <500 – 2700 | |||||
703.50 | 704.00 | 0.50 | <500 – 700 | |||||
719.00 | 719.50 | 0.50 | <500 – 1150 | |||||
753.00 | 753.50 | 0.50 | <500 – 550 | |||||
765.50 | 769.50 | 4.00 | <500 – 13200 | |||||
AR-18-197c3 | 327 | -70 | 723.50 | N/A | 549.00 | 549.50 | 0.50 | <500 – 570 |
586.00 | 586.50 | 0.50 | <500 – 7200 | |||||
589.50 | 590.50 | 1.00 | <500 – 5800 | |||||
595.00 | 596.00 | 1.00 | 500 – 61000 | |||||
620.00 | 621.00 | 1.00 | <500 – 61000 | |||||
630.50 | 631.00 | 0.50 | <500 – 780 | |||||
634.50 | 635.00 | 0.50 | <500 – 3200 | |||||
638.00 | 655.50 | 17.50 | <500 – 61000 | |||||
659.00 | 661.50 | 2.50 | <500 – 7100 | |||||
666.50 | 669.00 | 2.50 | <500 – 2550 | |||||
673.00 | 674.00 | 1.00 | <500 – 1360 | |||||
676.50 | 687.50 | 11.00 | <500 – 1630 | |||||
703.00 | 703.50 | 0.50 | <500 – 1000 | |||||
707.00 | 708.50 | 1.50 | <500 – 1800 | |||||
711.00 | 711.50 | 0.50 | <500 – 530 | |||||
AR-18-197c4 | 327 | -70 | 858.50 | N/A | 607.00 | 608.50 | 1.50 | <500 – 61000 |
616.00 | 616.50 | 0.50 | <500 – 7600 | |||||
632.50 | 634.00 | 1.50 | <500 – 61000 | |||||
641.00 | 643.00 | 2.00 | <500 – 11500 | |||||
645.50 | 646.50 | 1.00 | <500 – 8450 | |||||
658.50 | 660.50 | 2.00 | <500 – 1000 | |||||
664.00 | 665.00 | 1.00 | <500 – 1400 | |||||
667.50 | 668.00 | 0.50 | <500 – 790 | |||||
674.50 | 688.50 | 14.00 | <500 – 61000 | |||||
697.50 | 698.00 | 0.50 | <500 – 505 | |||||
744.50 | 745.00 | 0.50 | <500 – 590 | |||||
759.00 | 760.00 | 1.00 | <500 – 2100 | |||||
784.50 | 786.50 | 2.00 | <500 – 16600 | |||||
789.50 | 790.50 | 1.00 | <500 – 2600 | |||||
827.00 | 832.00 | 5.00 | <500 – 13000 | |||||
835.50 | 838.00 | 2.50 | <500 – 4100 | |||||
AR-18-200c1 | 327 | -70 | 885.50 | 121.20 | 489.50 | 492.50 | 3.00 | <500 – 1900 |
530.50 | 531.50 | 1.00 | <500 – 6200 | |||||
536.00 | 537.00 | 1.00 | <500 – 3600 | |||||
606.50 | 607.00 | 0.50 | <500 – 6500 | |||||
627.50 | 629.00 | 1.50 | <500 – 16000 | |||||
634.50 | 635.00 | 0.50 | <500 – 1600 | |||||
645.50 | 646.00 | 0.50 | <500 – 2000 | |||||
651.00 | 651.50 | 0.50 | <500 – 27000 | |||||
659.00 | 671.00 | 12.00 | <500 – 5000 | |||||
674.00 | 689.50 | 15.50 | <500 – 4700 | |||||
705.50 | 710.50 | 5.00 | <500 – 3250 | |||||
714.00 | 716.00 | 2.00 | <500 – 2950 | |||||
728.50 | 729.00 | 0.50 | <500 – 1290 | |||||
737.50 | 740.50 | 3.00 | <500 – 3200 | |||||
745.50 | 759.50 | 14.00 | <500 – 61000 | |||||
763.50 | 774.00 | 10.50 | <500 – 24000 | |||||
AR-18-200c2 | 327 | -70 | 900.00 | N/A | 531.00 | 532.00 | 1.00 | <500 – 1100 |
536.00 | 536.50 | 0.50 | <500 – 810 | |||||
644.50 | 647.50 | 3.00 | <500 – 21000 | |||||
653.00 | 653.50 | 0.50 | <500 – 12800 | |||||
672.50 | 692.00 | 19.50 | <500 – 3200 | |||||
702.00 | 703.50 | 1.50 | <500 – 13000 | |||||
721.50 | 736.50 | 15.00 | <500 – 5360 | |||||
739.00 | 769.50 | 30.50 | <500 – 61000 | |||||
772.00 | 774.00 | 2.00 | <500 – 1010 | |||||
779.00 | 782.00 | 3.00 | <500 – 2300 | |||||
835.00 | 835.50 | 0.50 | <500 – 690 | |||||
AR-18-200c3 | 327 | -70 | 882.50 | N/A | 618.50 | 619.00 | 0.50 | <500 – 4400 |
645.00 | 645.50 | 0.50 | <500 – 11000 | |||||
648.50 | 649.00 | 0.50 | <500 – 2250 | |||||
653.00 | 653.50 | 0.50 | <500 – 1100 | |||||
664.00 | 664.50 | 0.50 | <500 – 530 | |||||
667.00 | 671.00 | 4.00 | <500 – 4300 | |||||
673.50 | 675.50 | 2.00 | <500 – 1890 | |||||
679.00 | 683.50 | 4.50 | <500 – 15000 | |||||
693.50 | 699.50 | 6.00 | <500 – 2500 | |||||
715.00 | 726.00 | 11.00 | <500 – 1380 | |||||
730.50 | 746.50 | 16.00 | <500 – 2400 | |||||
758.00 | 759.50 | 1.50 | <500 – 61000 | |||||
765.50 | 770.50 | 5.00 | <500 – 7300 | |||||
810.00 | 810.50 | 0.50 | <500 – 650 | |||||
AR-18-200c4 | 327 | -70 | 870.50 | N/A | 503.00 | 503.50 | 0.50 | <500 – 940 |
514.50 | 515.00 | 0.50 | <500 – 1210 | |||||
521.50 | 522.00 | 0.50 | <500 – 8750 | |||||
611.50 | 616.50 | 5.00 | <500 – 23000 | |||||
628.50 | 631.50 | 3.00 | <500 – 5600 | |||||
634.50 | 639.00 | 4.50 | <500 – 21000 | |||||
644.00 | 644.50 | 0.50 | <500 – 750 | |||||
649.50 | 651.50 | 2.00 | <500 – 2220 | |||||
654.50 | 656.50 | 2.00 | <500 – 2020 | |||||
678.00 | 682.00 | 4.00 | <500 – 3200 | |||||
724.00 | 744.00 | 20.00 | <500 – 54000 | |||||
749.50 | 761.00 | 11.50 | <500 – 60000 | |||||
766.00 | 767.50 | 1.50 | <500 – 3000 | |||||
773.00 | 777.00 | 4.00 | <500 – 7100 | |||||
781.00 | 788.50 | 7.50 | <500 – 4990 | |||||
791.50 | 792.00 | 0.50 | <500 – 820 | |||||
796.00 | 799.00 | 3.00 | <500 – 12100 | |||||
AR-18-202c1 | 327 | -70 | 600.50 | N/A | 451.00 | 452.00 | 1.00 | <500 – 1850 |
461.50 | 465.00 | 3.50 | <500 – 7750 | |||||
473.50 | 474.50 | 1.00 | <500 – 720 | |||||
477.50 | 483.00 | 5.50 | <500 – 30000 | |||||
485.50 | 486.50 | 1.00 | <500 – 2100 | |||||
495.50 | 509.50 | 14.00 | <500 – 61000 | |||||
512.00 | 523.50 | 11.50 | <500 – 61000 | |||||
528.00 | 529.00 | 1.00 | <500 – 6000 | |||||
532.00 | 536.00 | 4.00 | <500 – 61000 | |||||
541.00 | 541.50 | 0.50 | <500 – 15000 | |||||
550.00 | 550.50 | 0.50 | <500 – 1100 | |||||
565.00 | 566.50 | 1.50 | <500 – 800 | |||||
596.50 | 597.00 | 0.50 | <500 – 550 | |||||
AR-18-202c2 | 327 | -70 | 621.50 | N/A | 368.50 | 369.50 | 1.00 | <500 – 1300 |
455.50 | 456.00 | 0.50 | <500 – 620 | |||||
461.50 | 468.00 | 6.50 | <500 – 5600 | |||||
478.50 | 479.50 | 1.00 | <500 – 1200 | |||||
483.50 | 484.50 | 1.00 | <500 – 24000 | |||||
494.50 | 495.00 | 0.50 | <500 – 630 | |||||
504.00 | 509.50 | 5.50 | <500 – 16000 | |||||
516.50 | 517.00 | 0.50 | <500 – 2500 | |||||
522.00 | 524.50 | 2.50 | <500 – 39000 | |||||
528.00 | 530.00 | 2.00 | <500 – 32000 | |||||
532.50 | 533.00 | 0.50 | <500 – 740 | |||||
543.50 | 544.50 | 1.00 | <500 – 2800 | |||||
549.00 | 552.00 | 3.00 | <500 – 10800 | |||||
571.50 | 576.50 | 5.00 | <500 – 61000 | |||||
580.00 | 581.00 | 1.00 | <500 – 1700 | |||||
593.50 | 595.00 | 1.50 | <500 – 1300 | |||||
604.50 | 616.50 | 12.00 | <500 – 7800 | |||||
AR-18-205c1 | 355 | -70 | 571.00 | 103.15 | No Anomalous Radioactivity | |||
AR-18-206c1 | 327 | -68 | 777.50 | 103.95 | 501.50 | 504.00 | 2.50 | <500 – 1000 |
553.50 | 557.50 | 4.00 | <500 – 14000 | |||||
575.50 | 576.00 | 0.50 | <500 – 1300 | |||||
584.00 | 585.50 | 1.50 | <500 – 16000 | |||||
634.50 | 635.00 | 0.50 | 1000 – 61000 | |||||
640.00 | 640.50 | 0.50 | <500 – 600 | |||||
649.00 | 657.50 | 8.50 | <500 – 29000 | |||||
671.50 | 676.50 | 5.00 | <500 – 34000 | |||||
681.00 | 690.00 | 9.00 | <500 – 42000 | |||||
694.50 | 695.00 | 0.50 | <500 – 1750 | |||||
697.50 | 700.00 | 2.50 | <500 – 4900 | |||||
712.50 | 717.50 | 5.00 | <500 – 890 | |||||
726.00 | 726.50 | 0.50 | <500 – 2350 | |||||
732.00 | 732.50 | 0.50 | <500 – 1150 | |||||
738.00 | 738.50 | 0.50 | <500 – 530 | |||||
742.00 | 745.50 | 3.50 | <500 – 5300 | |||||
751.00 | 751.50 | 0.50 | <500 – 500 | |||||
761.50 | 771.00 | 9.50 | <500 – 5200 | |||||
AR-18-207c1 | 327 | -68 | 1083.50 | 123.40 | 573.00 | 575.50 | 2.50 | <500 – 4000 |
580.50 | 581.00 | 0.50 | <500 – 1900 | |||||
712.00 | 712.50 | 0.50 | <500 – 7500 | |||||
AR-18-208c1 | 327 | -68 | 802.70 | 108.15 | 198.50 | 199.00 | 0.50 | <500 – 1050 |
562.00 | 562.50 | 0.50 | <500 – 1350 | |||||
598.00 | 598.50 | 0.50 | <500 – 1170 | |||||
637.50 | 638.00 | 0.50 | <500 – 8900 | |||||
662.00 | 662.50 | 0.50 | <500 – 600 | |||||
686.00 | 688.50 | 2.50 | <500 – 32800 | |||||
717.50 | 722.50 | 5.00 | <500 – 1020 | |||||
743.50 | 744.50 | 1.00 | <500 – 660 | |||||
AR-18-209c1 | 327 | -68 | 762.50 | 115.60 | 500.50 | 507.00 | 6.50 | <500 – 1730 |
709.00 | 709.50 | 0.50 | <500 – 580 | |||||
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
Table 2: South Arrow Drill Hole Data
Drill Hole | Athabasca | Handheld Scintillometer Results (RS-120) | ||||||
Hole ID | Azimuth | Dip | Total | From (m) | To (m) | Width | CPS Range | |
AR-18-190c1 | 315 | -68 | 348.00 | N/A | No Anomalous Radioactivity | |||
AR-18-191c1 | 315 | -70 | 375.00 | N/A | No Anomalous Radioactivity | |||
AR-18-192c1 | 315 | -68 | 429.00 | N/A | 300.50 | 301.00 | 0.50 | <500 – 550 |
304.00 | 305.00 | 1.00 | <500 – 970 | |||||
AR-18-193c1 | 315 | -70 | 657.50 | N/A | No Anomalous Radioactivity | |||
AR-18-194c1 | 315 | -68 | 555.50 | N/A | 356.50 | 357.00 | 0.50 | <500 – 2800 |
375.50 | 376.00 | 0.50 | <500 – 505 | |||||
457.50 | 458.00 | 0.50 | <500 – 570 | |||||
470.00 | 470.50 | 0.50 | <500 – 550 | |||||
478.00 | 479.00 | 1.00 | <500 – 850 | |||||
AR-18-196c1 | 315 | -67 | 615.50 | N/A | No Anomalous Radioactivity | |||
AR-18-198c1 | 315 | -68 | 543.00 | N/A | 338.50 | 339.50 | 1.00 | <500 – 1200 |
367.50 | 368.00 | 0.50 | <500 – 600 | |||||
456.00 | 458.00 | 2.00 | <500 – 2200 | |||||
460.50 | 465.00 | 4.50 | <500 – 3300 | |||||
468.50 | 469.00 | 0.50 | <500 – 505 | |||||
AR-18-199c1 | 315 | -68 | 567.00 | N/A | 345.50 | 347.50 | 2.00 | <500 – 850 |
350.50 | 351.00 | 0.50 | <500 – 620 | |||||
359.50 | 360.00 | 0.50 | <500 – 580 | |||||
374.50 | 378.00 | 3.50 | <500 – 13500 | |||||
AR-18-199c2 | 315 | -68 | 486.00 | N/A | 402.00 | 402.50 | 0.50 | <500 – 700 |
AR-18-201c1 | 315 | -66 | 444.00 | N/A | 252.00 | 252.50 | 0.50 | <500 – 630 |
AR-18-203c1 | 315 | -66 | 510.50 | N/A | 253.50 | 254.00 | 0.50 | <500 – 790 |
AR-18-204c1 | 315 | -66 | 524.00 | N/A | No Anomalous Radioactivity | |||
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
Table 3: Regional Exploration Hole Data
Drill Hole | Athabasca Basement Depth (m) | Handheld Scintillometer Results (RS-120) | ||||||
Hole ID | Azimuth | Dip | Total | From (m) | To (m) | Width (m) | CPS Range | |
RK-18-120 | 140 | -70 | 615.50 | N/A | No Anomalous Radioactivity | |||
RK-18-121 | 340 | -70 | 609.00 | N/A | No Anomalous Radioactivity | |||
RK-18-122 | 320 | -70 | 651.50 | N/A | No Anomalous Radioactivity | |||
RK-18-123 | 340 | -70 | 561.50 | N/A | No Anomalous Radioactivity | |||
RK-18-124 | 340 | -67 | 504.50 | N/A | No Anomalous Radioactivity | |||
*RK-18-125 | 320 | -66 | 496.00 | N/A | 290.00 | 291.50 | 1.50 | <500 – 4300 |
321.00 | 323.00 | 2.00 | <500 – 2700 | |||||
RK-18-126 | 327 | -66 | 532.50 | N/A | No Anomalous Radioactivity | |||
RK-18-127 | 345 | -66 | 423.50 | N/A | No Anomalous Radioactivity | |||
RK-18-128 | 320 | -66 | 407.00 | N/A | No Anomalous Radioactivity | |||
RK-18-129 | 325 | -66 | 399.00 | N/A | No Anomalous Radioactivity | |||
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
- *Mineralization listed in RK-18-125 was determined via a RS-125 Spectrometer to be of a Thorium source.
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 in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. The Arrow deposit’s updated mineral resource estimate with an effective date of December 20, 2016 was released in March 2017, and comprised 179.5 M lbs U3O8 contained in 1.18 M tonnes grading 6.88% U3O8 in the Indicated Mineral Resource category and an additional 122.1 M lbs U3O8 contained in 4.25 M tonnes grading 1.30% U3O8 in the Inferred Mineral Resource category.
Technical Information
Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-120 gamma-ray scintillometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.
Split core samples will be taken systematically, and intervals will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples sent to SRC will be analyzed using ICP-MS for trace elements on partial and total digestions, ICP-OES for major and minor elements on a total digestion, and fusion solution of boron by ICP-OES. Mineralized samples are analyzed for U3O8 by ICP-OES and select samples for gold by fire assay. Assay results will be released when received and after stringent internal QA/QC protocols are passed.
All scientific and technical information in this news release has been prepared by or reviewed and approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen. Mr. Boisjoli is a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“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.
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 “Technical Report on the Preliminary Economic Assessment of the Arrow Deposit, Rook 1 Property, Province of Saskatchewan, Canada” dated effective September 1, 2017 (the “Rook 1 Technical Report”) prepared by Jason J. Cox, David M. Robson, Mark B. Mathisen, David A. Ross, Val Coetzee and Mark Wittrup, 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.
U.S. investors are advised that while the terms “indicated resources” and “inferred resources” are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize these terms. U.S. investors are cautioned not to assume that any part or all of the material in these categories will ever be converted into mineral reserves.
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 31, 2017 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.