e5ba4672-9fee-4a14-bec8-d166a54db1b5.pdf
NexGen Intersects Off-Scale Mineralization 180m Southwest of Arrow Deposit and the A2 High Grade Domain Continues to Expand
Vancouver, BC, March 30, 2016 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSXV:NXE, OTCQX:NXGEF) is pleased to announce results from eight angled holes from our on-going winter drilling program on our 100% owned Rook I Property, Athabasca Basin, Saskatchewan.
Step-out drilling 180 m southwest along strike from the Arrow Deposit has intersected extensive mineralization including off-scale radioactivity (>10,000 cps). Hole AR-16-77c2 (see Figure 1), a follow up from hole AR-16-75 (see News Release dated March 15, 2016), intersected 109.5 m of total composite mineralization, including 2.3 m of off-scale radioactivity and encountered local concentrations of semi-massive pitchblende associated with extensive dravite alteration southwest along strike from the A4 shear, within an area that is untested. This newly discovered mineralized area will be the focus of immediate follow-up drilling. The footprint of Arrow has extended along strike by an additional 25 m to 865 m and laterally by 40 m to 275 m.
Additionally, drill holes in the area of the higher grade A2 sub-zone (the "Sub-Zone") have continued to intersect intense uranium mineralization. Infill hole AR-16-76c3 and step-out hole AR-16-76c4 both intersected intense and widespread radioactivity in the Sub-Zone. Hole AR-16-76c4 represents an approximate 25 m down-dip expansion from the current A2 High Grade Domain, which has been defined by 26 drill holes and comprises an Inferred Mineral Resource estimate of 120.5 M lbs of U3O8 contained in 0.41 M tonnes of mineralization grading 13.26% U3O8. The A2 High Grade Domain is within the Arrow Deposit, which has a total Inferred Mineral Resource estimate of 201.9 M lbs of U3O8 contained in 3.48 M tonnes of mineralization grading 2.63% U3O8.
Highlights:
Southwest Extension:
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AR-16-77c2 (180 m southwest step-out) intersected 109.5 m of total composite mineralization including 2.3 m of total composite off-scale radioactivity (>10,000 - 50,000 cps) within a 163.5 m section (615.5 to 779.0 m).
A2 Shear:
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AR-16-76c3 (58 m up-dip and southwest from AR-15-44b) intersected 67.5 m of total composite mineralization including 24.35 m of total composite off-scale radioactivity (10,000 - >61,000 cps) within a 124.5 m section (470.5 to 595.0 m) in the Sub-Zone.
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AR-16-76c4 (81 m down-dip and southwest of AR-15-44b) intersected 105.7 m of total composite mineralization including 20.85 m of total composite off-scale radioactivity (10,000 - >61,000 cps) within 171.5 m section (494.0 to 665.5 m) in the Sub-Zone.
Table 1: Higher Grade A2 Sub-Zone Drill Hole Comparison
|
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- 76c4
|
AR-16- 76c11
|
AR-16- 76c3
|
AR-16- 63c12
|
AR-16- 63c31
|
AR-16- 74c11
|
AR-16- 63c22
|
AR-16- 64c31
|
AR-16- 64c22
|
AR-16- 64c12
|
AR-16- 78c11
|
|
Total composite mineralization =
|
105.7 m
|
73.50 m
|
67.5 m
|
55.50 m
|
147.00
m
|
88.00 m
|
138.00
m
|
102.00
m
|
76.00 m
|
74.0 m
|
64.00 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
|
21.2 m
|
17.10 m
|
18.75 m
|
15.95 m
|
10.30 m
|
11.60 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
|
3.00 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
|
2.50 m
|
|
Continuous GT (Grade x Thickness) =
|
Assays Pending
|
Assays Pending
|
Assays Pending
|
203
|
Assays Pending
|
Assays Pending
|
638 and 604
|
Assays Pending
|
541
|
338
|
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
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The land-based and basement hosted Arrow zone currently covers an area of 865 m by 275 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in all directions and at depth.
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The winter 2016 program comprising 30,000 m of drilling continues with six drill rigs active.
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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
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The Company has cash on hand of $33M.
Drill hole locations, the A2 Sub-Zone, A2 and A3 long sections, and the location of AR-16-77c2 are shown in Figures 1 to 5. Table 2 has a summary of the mineralized intervals.
Garrett Ainsworth, Vice-President, Exploration and Development, commented, "Hole AR-16-77c2 has intersected significant mineralization and alteration located 180 m southwest from the current Arrow resource model extent. The frequency and intensity of dravite breccias that we have observed in hole -77c2 are akin to what we see proximal to the higher grade A2 sub-zone, so undoubtedly we are excited to continue drilling wide spaced step-outs in this area of high potential for another high grade sub-zone."
Leigh Curyer, Chief Executive Officer commented, "The two objectives of this winter's drill program are clearly being exceeded. The team is very encouraged to be intersecting strong uranium mineralization 180 m to the southwest in the third hole drilled in this area. In parallel, the ongoing development of the A2 High Grade
Domain continues to deliver strong intercepts of mineralization within and outside the existing A2 High Grade Domain and will be incorporated into an updated resource estimate in H2 2016."
Figure 1: Arrow Drill Hole Locations