0a3f61e4-8f68-4f44-a687-73824fdcf245.pdf
Hole AR-15-62 Returns Best Assay Result to Date at Arrow Zone with 78.0m at 10.00% U3O8 including 12m at 38.29% U3O8
Vancouver, BC, January 13, 2016 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSXV:NXE, OTCQX:NXGEF) is pleased to report the final assay result from our highly successful summer 2015 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Angled drill hole AR-15-62 has returned the most strongly mineralized intercept to date at Arrow with a continuous grade x thickness ("GT") of 787 which represents the best hole drilled at the Arrow zone. Hole AR- 15-62 intersected 78.0 m at 10.00% U3O8 including 12.0 m at 38.29% U3O8 within the higher grade A2 sub- zone (the "Sub-Zone") and confirms the continuity of intense, high-grade uranium mineralization across the Sub-Zone.
Hole AR-15-62 represents the seventh intercept within the Sub-Zone, which currently has a strike length of 203 m, begins at less than 400 m below surface and remains open in all directions. The Sub-Zone will be a primary focus of the 30,000 m winter 2016 drill program, which commenced on January, 7th.
With all assays now returned from the summer 2015 program, the resource estimators will commence the maiden NI 43-101 resource estimate scheduled to be completed in H1 2016. This maiden resource will only incorporate assays up to the end of the 2015 summer program.
Drill hole locations and the Sub-Zone long section are shown in Figures 1 and 2, angled drill hole results from the Sub-Zone are in Table 1, and assay results are shown in Table 2.
Highlights:
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AR-15-62 (22 m up-dip and to the southwest from AR-15-44b) intersected 78.0 m at 10.00% U3O8 (419.5 to 497.5 m) including 13.5 m at 20.59% U3O8 (484.0 to 497.5 m), 12.0 m at 38.29% U3O8 (454.0 to 466.0 m), and 2.5 m at 60.58% U3O8 (454.5 to 457.0 m) all within the Sub-Zone.
Table 1: Higher Grade A2 Sub-Zone Angled Drill Holes
AR-15-59c22
|
AR-15-54c12
|
AR-15-58c12
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AR-15-621
|
AR-15-44b2
|
AR-15-49c22
|
AR-15-57c32
|
otal composite mineralization =
|
75.50 m
|
42.00 m
|
86.00 m
|
143.0 m
|
135.60 m
|
73.50 m
|
62.50 m
|
otal 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
|
otal Off-scale (>30,000 to 60,999 cps)3 =
|
4.50 m
|
3.00 m
|
3.85 m
|
10.6 m
|
7.75 m
|
5.20 m
|
2.50 m
|
otal Off-scale (>61,000 cps)3 =
|
1.00 m
|
0.5 m
|
2.00 m
|
2.0 m
|
1.50 m
|
2.15 m
|
1.80 m
|
Continuous GT (Grade x Thickness) =
|
371
|
277
|
200 and 345
|
787
|
655
|
605
|
319
|
1 radioactivity results previously released
2 radioactivity and assays results previously released
Arrow, Activities & Financial
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The land-based and basement hosted Arrow zone currently covers an area of 645 m by 235 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 has now commenced with six rigs.
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The release of a maiden NI 43-101 resource estimate on the Arrow zone is scheduled for the first half of 2016.
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The company has cash on hand of approximately $34M.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "This exceptional assay result from drill hole AR-15-62 is an incredible accomplishment, and demonstrates our knowledge of the structurally controlled uranium mineralization at Arrow. Drill results of this calibre are very rare in the Athabasca Basin and speaks to the size and strength of the mineralizing event that has occurred at Arrow. Hole -62 confirms the strong continuity of high-grade mineralization within the A2 Sub-Zone throughout its current 203 m strike length."
Leigh Curyer, Chief Executive Officer commented: "AR-15-62 was the final hole of the 2015 summer drill program and has produced the best mineralized intercept to date at the Arrow Zone. This result and our understanding of the A2 Sub-Zone sets NexGen up for an exciting winter 2016 drill program with the Sub-Zone being one of a number of objectives at Arrow and along strike."
Table 2: Arrow Zone 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-15-62
|
140
|
-75
|
657.00
|
104.30
Including Including Including Including Including Including Including
|
398.50
|
522.50
|
124.00
|
6.35
|
787.4
|
419.50
|
497.50
|
78.00
|
10.00
|
454.00
|
477.00
|
23.00
|
20.37
|
484.00
|
497.50
|
13.50
|
20.59
|
454.00
|
466.00
|
12.00
|
38.29
|
454.50
|
457.00
|
2.50
|
60.58
|
463.50
|
465.50
|
2.00
|
57.48
|
493.50
|
497.00
|
3.50
|
49.89
|
530.50
|
531.00
|
0.50
|
0.01
|
0.01
|
533.50
|
534.50
|
1.00
|
0.02
|
0.02
|
538.50
|
539.50
|
1.00
|
0.34
|
0.34
|
546.50
|
551.00
|
4.50
|
0.01
|
0.06
|
565.50
|
570.50
|
5.00
|
3.17
|
15.86
|
573.00
|
592.50
|
19.50
|
1.39
|
27.02
|
598.50
|
599.00
|
0.50
|
0.03
|
0.01
|
601.50
|
618.00
|
16.50
|
0.03
|
0.50
|
640.50
|
644.50
|
4.00
|
0.03
|
0.13
|
Composite parameters:
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Minimum thickness 0.5 m downhole
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Cutoff grade 0.01% U3O8
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Maximum internal dilution 2.00 m downhole
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U3O8 analyzed by ICP-OES at SRC Laboratories, Saskatoon, Saskatchewan
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All depths and intervals are meters downhole, true thicknesses are yet to be determined
Split core samples were taken systematically, and intervals were submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples were 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 were analyzed for U3O8 by ICP-OES and gold by fire assay.
All assay batches reported herein are subjected to and have passed rigorous internal QA/QC protocols that include, but are not limited to, the blind insertion of standard reference materials, blank materials and field duplicates into the sample stream at both random and systematic intervals.
The technical information in this news release has been approved by Garrett Ainsworth, P.Geo., Vice President
- Exploration & Development, a qualified person for the purposes of National Instrument 43- 101 - Standards of Disclosure for Mineral Projects. Mr. Ainsworth reviewed the data disclosed in this news release, including the sampling, analytical and test data underlying the information contained in this news release. Mr. Ainsworth has verified that the results are accurate by reviewing the official assay certificates provided to the Company.
Figure 1: Arrow Zone Drill Hole Locations