Mr. Leigh Curyer reports
NEXGEN ENERGY LTD. - HOLE AR-16-78C4 ASSAY RETURNS 37.5 M AT 17.60% U3O8 INCLUDING 5.5 M AT 60.14% U3O8
NexGen Energy Ltd. has released assay results for eight angled holes from its highly successful winter 2016 drilling program on the 100-per-cent-owned Rook I property, Athabasca basin, Saskatchewan.
Assay results from the higher-grade A2 subzone have yet again confirmed strong uranium grades over significant intervals at the Arrow deposit. Hole AR-16-78c4, which was drilled 59 metres updip and northeast of hole AR-15-44b, has returned 37.5 m at 17.60 per cent triuranium octoxide, including 5.5 m at 60.14 per cent U3O8 and 1.5 m at 71.93 per cent U3O8. This intersection represents a continuous grade times thickness (GT) of 660, the fourth highest at Arrow. Within the A2 shear, drill hole AR-16-78c4 returned a total composite GT of 834.
Additionally, drill hole AR-16-76c4 returned 68.0 m at 2.09 per cent
U3O8, including 14.5 m at 5.08 per cent
U3O8, and an additional section of 32.0 m at 1.97 per cent U3O8, including 10.0 m at 5.15 per cent
U3O8. Of key importance, high-grade mineralization encountered in both holes was largely intersected outside the current limits of the A2 high-grade domain. Assay results for
23 holes at Arrow remain pending.
HIGHER-GRADE A2 SUBZONE ANGLED DRILL HOLES
2015 AR-15-59c2(2) AR-15-54c1(2) AR-15-58c1(2) AR-15-62(2) AR-15-44b(2) AR-15-49c2(2) AR-15-57c3(2)
Total composite
mineralization 75.5 m 42.0 m 86.0 m 143.0 m 135.6 m 73.5 m 62.5 m
Total off-scale
(>10,000
to 29,999 cps)(3) 11.4 m 5.9 m 14.3 m 17.8 m 30.3 m 15.7 m 4.4 m
Total off-scale
(>30,000
to 60,999 cps)(3) 4.5 m 3.0 m 3.9 m 10.6 m 7.8 m 5.2 m 2.5 m
Total off-scale
(>61,000 cps)(3) 1.0 m 0.5 m 2.0 m 2.0 m 1.5 m 2.2 m 1.8 m
Continuous GT 371 277 200 and 345 787 655 605 319
2016 AR-16-81c3(1) AR-16-76c4(1) AR-16-76c1(2) AR-16-76c3(2) AR-16-63c1(2) AR-16-63c3(2) AR-16-86c1(1)
Total composite
mineralization 48.5 m 105.7 m 73.5 m 67.5 m 55.5 m 147.0 m 90.0 m
Total off-scale
(>10,000
to 29,999 cps)(3) 5.2 m 19.9 m 14.8 m 14.9 m 6.9 m 22.1 m 8.8 m
Total off-scale
(>30,000
to 60,999 cps)(3) 4.0 m 1.0 m 2.8 m 5.0 m 0.5 m 3.0 m 2.3 m
Total off-scale
(>61,000 cps)(3) 2.5 m 0.0 m 5.3 m 4.5 m 0.0 m 0.5 m 2.0 m
Continuous GT Assays pending 142 and 63 762 761 203 274 and 124 Assays pending
2016 AR-16-74c1(2) AR-16-63c2(2) AR-16-91c2(1) AR-16-64c3(2) AR-16-64c2(2) AR-16-64c1(2) AR-16-72c2(2)
Total composite
mineralization 88.0 m 138.0 m 89.0 m 102.0 m 76.0 m 74.0 m 93.0 m
Total off-scale
(>10,000
to 29,999 cps)(3) 21.2 m 17.1 m 13.4 m 18.8 m 16.0 m 10.3 m 7.0 m
Total off-scale
(>30,000
to 60,999 cps)(3) 1.2 m 9.90 m 6.0 m 2.5 m 4.7 m 3.7 m 0.5 m
Total off-scale
(>61,000 cps)(3) 0.0 m 13.9 m 3.0 m 0.0 m 5.5 m 0.0 m 1.7 m
Continuous GT 160 and 35 638 and 604 Assays pending 172 and 92 541 338 156 and 45
2016 AR-16-78c1(2) AR-16-78c4(1)
Total composite
mineralization 64.0 m 120.5 m
Total off-scale
(>10,000
to 29,999 cps)(3) 11.6 m 25.8 m
Total off-scale
(>30,000
to 60,999 cps)(3) 3.0 m 6.2 m
Total off-scale
(>61,000 cps)(3) 2.5 m 5.5 m
Continuous GT 485 660, 88 and 67
(1) Radioactivity results previously released.
(2) Radioactivity and assays results previously released.
(3) Minimum radioactivity using RS-120 gamma spectrometer.
Highlights
A2 subzone:
-
AR-16-78c4 (59 m updip and northeast from AR-15-44b) intersected 37.5 m
at 17.60 per cent U3O8 (480.5 to 518.0 m), including 15.0 m
at 29.92 per cent U3O8 (490.0 to 505.0 m) and 1.5 m
at 71.93 per cent U3O8 (493.5 to 495.0 m), in the subzone.
- AR-16-76c4 (81 m downdip and southwest of AR-15-44b) intersected 68.0 m at 2.09 per cent U3O8 (576.5 to 644.5 m), including 14.5 m
at 5.08 per cent U3O8 (629.0 to 643.5 m), and an additional 32.0 m at 1.97 per cent U3O8 (537.5 to 569.5 m), including 10.0 m at 5.15 per cent U3O8
(556.5 to 566.5 m) in the subzone.
Arrow, activities and financial:
-
The land-based and basement-hosted Arrow zone currently covers an area of 870 m by 280 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in most directions and at depth.
-
The spring 2016 program comprising 7,500 m of drilling will be transitioning to the summer 2016 program in late June.
-
The company has approximately cash on hand of $100-million.
Garrett Ainsworth, vice-president, exploration and development, commented: "Drill holes -78c4 and -76c4 highlight the strong continuity of grade and thicknesses across the A2 subzone from northeast to southwest. Large sections of these assayed holes are outside the A2 high-grade domain shell upon which Arrow's maiden resource was estimated. Infill drilling is delivering strong continuity of mineralization and will expand the volume of the A2 high-grade domain shell."
Leigh Curyer, chief executive officer, commented: "The assay results continue to exceed our objectives of infill drilling by delivering broader and higher-grade intervals. Preparations for the summer drill season are in their final stages, which will continue to focus on the known area of mineralization, the new area 180 m southwest of Arrow, and along trend to the northeast and southwest along the Patterson corridor."
ARROW DEPOSIT ASSAY RESULTS
Hole ID From To Interval U3O8
(m) (m) (m) (%)
AR-16-74c4 456.50 458.50 2.00 0.05
518.00 519.00 1.00 0.03
537.50 542.00 4.50 0.18
547.00 548.00 1.00 0.01
560.00 561.00 1.00 0.49
563.50 587.00 23.50 0.11
589.50 592.50 3.00 0.06
595.00 602.50 7.50 1.52
605.50 609.50 4.00 0.06
612.00 619.00 7.00 0.57
624.50 661.00 36.50 0.53
663.50 680.50 17.00 0.28
687.00 687.50 0.50 0.11
697.50 702.50 5.00 0.29
705.50 708.50 3.00 0.27
715.50 717.00 1.50 1.78
723.50 725.00 1.50 0.64
729.00 734.50 5.50 0.94
737.00 740.50 3.50 0.63
743.00 763.00 20.00 0.72
767.00 771.00 4.00 0.03
774.50 775.00 0.50 0.03
805.00 814.50 9.50 0.63
817.00 817.50 0.50 0.85
860.00 878.00 18.00 0.04
884.00 886.50 2.50 1.04
893.00 897.50 4.50 1.32
AR-16-76c4 493.00 496.50 3.50 0.10
511.50 517.50 6.00 0.09
537.50 569.50 32.00 1.97
incl. 556.50 566.50 10.00 5.15
576.50 644.50 68.00 2.09
incl. 629.00 643.50 14.50 5.08
647.50 650.50 3.00 0.13
657.50 666.00 8.50 0.05
AR-16-78c2 395.00 409.00 14.00 0.06
412.00 416.50 4.50 0.02
419.00 421.00 2.00 0.04
427.00 448.00 21.00 0.10
453.00 472.50 19.50 6.24
488.00 502.00 14.00 2.08
591.00 593.50 2.50 0.03
AR-16-78c3 370.50 401.50 31.00 0.06
404.50 406.50 2.00 0.07
409.00 412.00 3.00 0.02
419.50 422.00 2.50 0.03
438.00 442.50 4.50 0.17
456.50 494.00 37.50 2.16
516.00 534.00 18.00 0.93
553.50 558.00 4.50 0.08
562.50 566.00 3.50 0.53
576.00 584.00 8.00 0.04
587.50 588.50 1.00 0.08
592.00 605.00 13.00 0.03
614.00 625.50 11.50 0.08
628.50 629.50 1.00 0.03
AR-16-78c4 369.00 372.50 3.50 0.05
378.50 380.00 1.50 0.03
388.50 406.50 18.00 0.04
440.50 450.50 10.00 0.07
468.50 477.50 9.00 0.15
480.50 518.00 37.50 17.60
incl. 490.00 505.00 15.00 29.92
incl. 491.50 497.00 5.50 60.14
incl. 493.50 495.00 1.50 71.93
521.50 555.00 33.50 2.64
557.50 560.50 3.00 0.24
563.50 564.50 1.00 0.04
575.50 605.50 30.00 2.22
613.00 624.00 11.00 1.53
628.00 641.00 13.00 0.03
644.50 645.00 0.50 0.04
648.00 650.00 2.00 0.01
653.00 654.50 1.50 0.11
658.00 687.00 29.00 0.09
AR-16-80c1 433.00 437.00 4.00 0.31
440.50 441.50 1.00 0.09
446.50 456.00 9.50 0.20
461.00 467.50 6.50 0.08
486.00 491.00 5.00 0.04
504.00 505.50 1.50 0.05
519.50 521.00 1.50 0.02
526.00 527.00 1.00 0.08
541.50 551.00 9.50 0.03
561.00 563.50 2.50 0.39
575.50 582.00 6.50 0.07
597.50 611.00 13.50 0.03
613.50 632.50 19.00 0.11
665.00 665.50 0.50 0.30
670.50 672.50 2.00 0.11
677.00 678.00 1.00 0.28
690.00 690.50 0.50 0.20
721.00 723.50 2.50 0.02
730.50 731.50 1.00 0.04
739.00 742.00 3.00 0.11
AR-16-80c2 455.00 458.00 3.00 0.07
464.50 472.00 7.50 3.18
475.00 479.00 4.00 0.04
495.50 501.00 5.50 2.64
517.00 517.50 0.50 0.03
527.00 528.00 1.00 0.07
AR-16-81c1 474.50 480.00 5.50 0.03
488.00 507.50 19.50 0.92
517.50 518.50 1.00 0.17
522.00 523.00 1.00 0.06
534.00 534.50 0.50 0.02
554.50 556.00 1.50 0.03
586.00 586.50 0.50 1.11
599.50 603.00 3.50 0.14
612.00 616.50 4.50 0.06
621.50 622.00 0.50 0.04
634.00 635.00 1.00 0.03
640.00 645.00 5.00 0.03
654.00 656.00 2.00 0.14
669.50 670.00 0.50 0.33
691.50 692.00 0.50 0.03
697.00 714.50 17.50 0.08
718.00 732.00 14.00 0.21
734.50 736.50 2.00 0.89
740.50 743.50 3.00 0.54
752.00 753.50 1.50 0.06
759.50 769.00 9.50 0.04
772.00 775.00 3.00 1.29
778.50 779.50 1.00 0.03
798.00 798.50 0.50 0.41
Composite parameters:
Minimum thickness: 0.5 m downhole.
Cut-off grade: 0.01 per cent U3O8.
Maximum internal dilution: two m downhole.
U3O8 was analyzed by ICP-OES at SRC Laboratories,
Saskatoon, Sask.
All depths and intervals are metres 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 selected samples for gold by fire assay.
All assay batches reported herein are subjected to and have passed rigorous internal quality assurance/quality control 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 Mr. Ainsworth, a qualified person for the purposes of National Instrument 43-101. 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.
We seek Safe Harbor.
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