2776e6ba-bfd3-4290-8be0-f475156cb273.pdf
Hole AR-16-76c1 Returns 67.5 m at 11.29% U3O8 including 9.0 m at 51.35% U3O8 and 0.5 m at 79.80% U3O8
Vancouver, BC, May 5, 2016 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSXV:NXE, OTCQX:NXGEF) is pleased to report assay results for thirteen angled holes from our highly successful winter 2016 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Hole AR-16-76c1 has intersected 67.5 m at 11.29% U3O8 in the higher grade A2 sub-zone (the "Sub-Zone"). The intercept includes 9.0 m at 51.35% U3O8 and 0.5 m at 79.80% U3O8 which represents a continuous grade x thickness ("GT") of 762, the second best at the Arrow Deposit to date. Drill hole -76c1 intercepted the near vertically dipping mineralization at a shallow inclination of -65°. All five drill holes reported in this release and drilled into the Sub-Zone have returned strong and broad intercepts of high grade mineralization (as determined by a total composite GT of >200) confirming strong continuity of the High Grade Domain.
In addition, holes AR-16-63c3, AR-16-64c3, AR-16-72c2 and AR-16-74c1 all intersected high grade uranium mineralization in the Sub-Zone. Assay results from AR-16-72c2 were higher than anticipated from the radioactivity results, and as such, the hole is now being included within the Sub-Zone.
Highlights: A2 Sub-Zone
-
AR-16-76c1 (70 m up-dip and to the southwest from AR-15-44b) intersected 67.5 m at 11.29% U3O8 (441.0 to 508.5 m) including 9.0 m at 51.35% U3O8 (496.0 to 505.0 m) and 0.5 m at 79.80% U3O8 (497.0 to 497.5 m).
-
AR-16-63c3 (37 m up-dip and to the southwest from AR-15-44b) intersected 15.0 m at 8.28% U3O8
(466.0 to 481.0 m) and an additional 119.0 m at 2.30% U3O8 (488.0 to 607.0 m).
-
AR-16-64c3 (20 m down-dip and to the northeast from AR-15-44b) intersected 28.0 m at 6.14% U3O8 (504.0 to 532.0 m) including 14.0 m at 10.30% U3O8 (510.5 to 524.5 m) and an additional 26.5 m at 3.48% U3O8 (536.0 to 562.5 m).
-
AR-16-72c2 (60 m down-dip and to the northeast from AR-15-44b) intersected 33.0 m at 4.65% U3O8
(564.5 to 598.0 m) and an additional 11.0 m at 4.08% U3O8 (674.0 to 685.0 m).
-
AR-16-74c1 (14m down-dip and to the southwest from AR-15-44b) intersected 47.0 m at 3.41% U3O8
(532.5 to 585.5 m) and an additional 16.0 m at 2.21% U3O8 (588.0 to 604.0 m).
Table 1: Higher Grade A2 Sub-Zone Angled Drill Holes
|
2015
|
AR-15- 59c22
|
AR-15- 54c12
|
AR-15- 58c12
|
AR-15- 622
|
AR-15- 44b2
|
AR-15- 49c22
|
AR-15- 57c32
|
|
Total composite mineralization =
|
75.50 m
|
42.00 m
|
86.00 m
|
143.00
m
|
135.60
m
|
73.50 m
|
62.50 m
|
|
Total Off-scale (>10,000 to 29,999 cps)3 =
|
11.40 m
|
5.90 m
|
14.30 m
|
17.75 m
|
30.25 m
|
15.70 m
|
4.40 m
|
|
Total Off-scale (>30,000 to 60,999 cps)3 =
|
4.50 m
|
3.00 m
|
3.85 m
|
10.60 m
|
7.75 m
|
5.20 m
|
2.50 m
|
|
Total Off-scale (>61,000 cps)3 =
|
1.00 m
|
0.50 m
|
2.00 m
|
2.00 m
|
1.50 m
|
2.15 m
|
1.80 m
|
|
Continuous GT (Grade x Thickness) =
|
371
|
277
|
200 and 345
|
787
|
655
|
605
|
319
|
|
2016
|
AR-16- 76c41
|
AR-16- 76c11
|
AR-16- 76c31
|
AR-16- 63c12
|
AR-16- 63c31
|
AR-16- 74c11
|
AR-16- 63c22
|
AR-16- 64c31
|
AR-16- 64c22
|
AR-16- 64c12
|
AR-16- 72c21
|
AR-16- 78c11
|
AR-16- 78c41
|
|
Total composite mineralization =
|
105.70 m
|
73.50 m
|
67.50 m
|
55.50 m
|
147.0 m
|
88.00 m
|
138.0 m
|
102.0 m
|
76.00 m
|
74.00 m
|
93.00 m
|
64.00 m
|
120.50 m
|
|
Total Off-scale (>10,000 to 29,999 cps)3 =
|
19.85 m
|
14.75 m
|
14.85 m
|
6.85 m
|
22.10 m
|
21.20 m
|
17.10 m
|
18.75 m
|
15.95 m
|
10.30 m
|
6.95 m
|
11.60 m
|
25.75 m
|
|
Total Off-scale (>30,000 to 60,999 cps)3 =
|
1.00 m
|
2.75 m
|
5.00 m
|
0.50 m
|
3.00 m
|
1.15 m
|
9.90 m
|
2.50 m
|
4.70 m
|
3.70 m
|
0.50 m
|
3.00 m
|
6.15 m
|
|
Total Off-scale (>61,000 cps)3 =
|
0.00 m
|
5.25 m
|
4.50 m
|
0.00 m
|
0.50 m
|
0.00 m
|
13.85 m
|
0.00 m
|
5.50 m
|
0.00 m
|
1.70 m
|
2.50 m
|
5.50 m
|
|
Continuous GT (Grade x Thickness) =
|
Assays Pending
|
762
|
Assays Pending
|
203
|
274 and 124
|
160 and 35
|
638 and 604
|
172 and 92
|
541
|
338
|
156 and 45
|
Assays Pending
|
Assays Pending
|
1 radioactivity results previously released
2 radioactivity and assays results previously released
3 minimum radioactivity using RS-120 gamma spectrometer
Arrow, Activities & Financial
-
The land-based and basement hosted Arrow zone currently covers an area of 865 m by 280 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in all directions and at depth.
-
The winter 2016 drill program officially ended on April 18th with 30,744 m completed. Five drill rigs continue in full operation, which will reduce to three rigs during our current spring 2016 drill program that will comprise 7,500 m of drilling.
-
The Company remains on track for release of an updated NI 43-101 resource estimate on the Arrow deposit due in the second half of 2016.
-
The Company has cash on hand of $30M.
A three-dimensional view of the A2 Sub-Zone, drill hole locations and the A2 and A3 long sections are shown in Figures 1 to 5. Table 2 shows assay results.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Hole AR-16-76c1 takes its place as one of the best drill holes on public record in the Athabasca Basin with a continuous GT of 762. The expansion potential at Arrow is evident as we continue to observe drill holes with substantial high grade intervals located outside of the A2 high grade domain as shown in Figure 1."
Leigh Curyer, Chief Executive Officer commented: "This batch of assay results continues to exceed our expectations, and showcases the strength of the Arrow deposit. The continuity of this high grade domain continues to prove itself by the fact that all five holes reported in the Sub-Zone hit broad high grade intercepts.
While we continue to transition into the spring season, we look forward to returning the pending assays from winter including four from the Sub-Zone as well as focusing on new areas of the deposit and along trend from it."
Table 2: Arrow Deposit Assay Results
|
Drill Hole
|
Athabasca Group - Basement Unconformity Depth (m)
|
SRC Geoanalytical Results
|
Grade (U3O8%) x
Thickness (m) (GT)
|
|
Hole ID
|
Azimuth
|
Dip
|
Total Depth (m)
|
From (m)
|
To (m)
|
Interval (m)
|
U3O8 (wt%)
|
|
AR-16-59c6
|
153
|
-76
|
870.00
|
102.20
|
768.00
|
769.00
|
1.00
|
0.02
|
0.02
|
|
777.50
|
799.00
|
21.50
|
0.11
|
2.29
|
|
817.00
|
822.50
|
5.50
|
0.14
|
0.75
|
|
826.50
|
835.00
|
8.50
|
3.95
|
33.55
|
|
AR-16-61c3
|
140
|
-74
|
921.00
|
110.30
|
526.50
|
527.00
|
0.50
|
0.01
|
0.01
|
|
541.50
|
546.50
|
5.00
|
0.02
|
0.10
|
|
549.00
|
555.50
|
6.50
|
0.20
|
1.30
|
|
558.00
|
574.00
|
16.00
|
0.05
|
0.80
|
|
585.50
|
592.50
|
7.00
|
0.07
|
0.49
|
|
645.00
|
645.50
|
0.50
|
0.22
|
0.11
|
|
649.00
|
651.50
|
2.50
|
0.02
|
0.05
|
|
670.00
|
677.50
|
7.50
|
0.11
|
0.83
|
|
680.00
|
681.00
|
1.00
|
0.01
|
0.01
|
|
685.00
|
694.50
|
9.50
|
0.18
|
1.71
|
|
716.00
|
719.50
|
3.50
|
0.07
|
0.25
|
|
740.00
|
740.50
|
0.50
|
0.07
|
0.04
|
|
761.50
|
771.50
|
10.00
|
0.04
|
0.40
|
|
818.50
|
819.00
|
0.50
|
0.11
|
0.06
|
|
823.50
|
833.00
|
9.50
|
0.34
|
3.23
|
|
836.00
|
839.00
|
3.00
|
0.20
|
0.60
|
|
844.50
|
849.50
|
5.00
|
0.03
|
0.15
|
|
889.50
|
890.50
|
1.00
|
0.03
|
0.03
|
|
AR-16-63c3
|
156
|
-74
|
654.00
|
108.00
|
438.00
|
439.00
|
1.00
|
0.02
|
0.02
|
|
443.50
|
463.00
|
19.50
|
0.11
|
2.15
|
|
466.00
|
481.00
|
15.00
|
8.28
|
124.20
|
|
488.00
|
607.00
|
119.00
|
2.30
|
273.70
|
|
612.00
|
618.00
|
6.00
|
0.06
|
0.36
|
|
620.50
|
625.00
|
4.50
|
0.07
|
0.32
|
|
632.00
|
633.00
|
1.00
|
0.13
|
0.13
|
|
641.00
|
641.50
|
0.50
|
0.05
|
0.03
|
|
AR-16-64c3
|
154
|
-73
|
636.00
|
108.00
|
465.00
|
487.00
|
22.00
|
3.08
|
67.77
|
|
491.50
|
495.50
|
4.00
|
0.04
|
0.18
|
|
504.00
|
532.00
|
28.00
|
6.14
|
171.98
|
|
including
|
510.50
|
524.50
|
14.00
|
10.30
|
|
536.00
|
562.50
|
26.50
|
3.48
|
92.20
|
|
565.00
|
593.50
|
28.50
|
0.79
|
22.61
|
|
596.50
|
608.00
|
11.50
|
0.08
|
0.91
|
|
613.00
|
614.50
|
1.50
|
0.03
|
0.04
|
|
AR-16-65
|
0
|
-90
|
150.00
|
102.80
|
155.00
|
155.50
|
0.50
|
0.04
|
0.02
|
|
AR-16-71
|
140
|
-70
|
936.00
|
105.45
|
633.00
|
634.50
|
1.50
|
0.07
|
0.11
|
|
673.00
|
675.50
|
2.50
|
0.06
|
0.14
|
|
691.00
|
691.50
|
0.50
|
0.10
|
0.05
|
|
698.00
|
701.50
|
3.50
|
0.02
|
0.08
|
|
705.00
|
726.00
|
21.00
|
0.39
|
8.24
|
|
731.00
|
731.50
|
0.50
|
0.06
|
0.03
|
|
746.00
|
746.50
|
0.50
|
0.03
|
0.01
|
|
757.00
|
757.50
|
0.50
|
0.05
|
0.02
|
|
777.00
|
782.50
|
5.50
|
0.09
|
0.47
|
|
789.00
|
793.00
|
4.00
|
0.13
|
0.54
|
|
797.50
|
798.00
|
0.50
|
0.16
|
0.08
|
|
836.50
|
837.50
|
1.00
|
0.01
|
0.01
|
|
856.00
|
857.50
|
1.50
|
1.27
|
1.91
|
|
862.50
|
863.00
|
0.50
|
0.04
|
0.02
|
|
AR-16-72c1
|
138
|
-71
|
669.00
|
107.80
|
489.00
|
494.50
|
5.50
|
0.37
|
2.04
|
|
505.00
|
536.00
|
31.00
|
0.75
|
23.25
|
|
549.00
|
571.00
|
22.00
|
1.76
|
38.72
|
|
580.50
|
588.00
|
7.50
|
0.62
|
4.65
|
|
592.00
|
619.00
|
27.00
|
1.83
|
49.41
|
|
622.50
|
639.00
|
16.50
|
0.04
|
0.66
|
|
642.00
|
653.50
|
11.50
|
0.12
|
1.38
|
|
662.50
|
669.00
|
6.50
|
0.02
|
0.13
|
|
AR-16-72c2
|
138
|
-71
|
705.00
|
107.80
|
438.50
|
439.00
|
0.50
|
0.06
|
0.03
|
|
507.00
|
512.50
|
5.50
|
0.07
|
0.39
|
|
519.00
|
520.50
|
1.50
|
0.09
|
0.14
|
|
541.00
|
560.50
|
19.50
|
0.46
|
8.97
|
|
564.50
|
598.00
|
33.50
|
4.65
|
155.78
|
|
604.00
|
604.50
|
0.50
|
0.47
|
0.24
|
|
609.00
|
609.50
|
0.50
|
2.37
|
1.19
|
|
614.50
|
639.00
|
24.50
|
0.17
|
4.17
|
|
656.50
|
671.00
|
14.50
|
0.18
|
2.61
|
|
674.00
|
685.00
|
11.00
|
4.08
|
44.88
|
|
697.00
|
699.00
|
2.00
|
0.04
|
0.08
|
|
AR-16-73
|
145
|
-70
|
699.00
|
114.00
|
162.00
|
163.00
|
1.00
|
0.03
|
0.03
|
|
219.00
|
233.50
|
14.50
|
0.06
|
0.87
|
|
236.50
|
260.50
|
24.00
|
0.13
|
3.12
|