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 – | Handheld Scintillometer Results | ||||||
Hole ID | Azimuth | Dip | Total | From | To (m) | Width | 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