Mr. Leigh Curyer reports
NEXGEN ASSAYS AT ARROW RETURN HOLES WITH 5 CONTINUOUS GTS GREATER THAN 100 INSIDE AND OUTSIDE THE A2 HIGH GRADE DOMAIN
NexGen Energy Ltd. has released assay results for six holes from its summer drilling program on the 100-per-cent-owned Rook I property, Athabasca basin, Saskatchewan.
At Arrow, holes drilled from both northwest to southeast (original) and southeast to northwest (scissor) directions have encountered significant high-grade uranium mineralization within and outside the A2 high-grade domain.
Highlighting this batch of results, hole AR-16-92c3 intersected two continuous intervals with grade times thicknesses (GT) of 144 and 115 that pierced 30 metres below the A2 high-grade domain. These two intervals were separated by four metres of core length in the hole. In addition, scissor holes AR-16-93c2 intersected a continuous GT of 279 in the subzone near the top of the A2 high-grade domain, AR-16-91c4 returned a continuous GT of 215 and AR-16-93c1 returned a continuous GT of 163.
In the new A1 discovery area, scissor holes AR-16-91c4 and -93c2 both intersected significant intervals of uranium mineralization.
Highlights
A2 high-grade domain
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Scissor hole AR-16-93c2 (109 m updip and northeast from AR-15-44b) intersected 53.0 m at 5.27 per cent triuranium octoxide (452.5 to 505.5 m), including 12.0 m at 20.21 per cent U3O8 (480.5 to 492.5 m) and two m at 68.00 per cent U3O8 (485.5 to 487.5 m).
- Hole AR-16-92c3 (91 m downdip and southwest from AR-15-44b) intersected 14.0 m at 8.21 per cent U3O8 (611.0 to 625.0 m), including five m at 18.75 per cent U3O8 (620.0 to 625.0 m), and an additional interval of 12.0 m at 12.02 per cent U3O8 (629.0 to 641.0 m), including seven m at 20.44 per cent U3O8 (629.0 to 636.0 m).
- Scissor hole AR-16-91c4 (70 m updip and northeast from AR-15-44b) intersected 43.5 m at 4.95 per cent U3O8 (497.5 to 541.0 m), including 12.0 m at 16.70 per cent U3O8 (527.0 to 539.0 m).
- Scissor hole AR-16-93c1 (13 m updip and northeast from AR-15-44b) intersected 54.0 m at 3.02 per cent U3O8 (447.0 to 501.0 m), including five m at 26.22 per cent U3O8 (472.5 to 477.5 m).
A1 shear new discovery area
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Scissor hole AR-16-91c4 (25 m downdip and northeast from AR-16-84c1) intersected 32.0 m at 1.19 per cent U3O8 (695.5 to 727.5 m) and an additional 48.0 m at 0.30 per cent U3O8 (630.5 to 678.5 m).
- Scissor hole AR-16-93c2 (34 m updip and northeast from AR-16-84c1) intersected 24.0 m at 1.31 per cent U3O8 (697.5 to 721.5 m).
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)
Total composite mineralization 75.5 m 42.0 m 86.0 m 143.0 m 135.6 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
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
Total off-scale (>61,000 cps)(3) 1.0 m 0.5 m 2.0 m 2.0 m 1.5 m
Continuous GT (grade times thickness) 371 277 200 and 345 787 655
2015 AR-15-49c2(2) AR-15-57c3(2)
Total composite mineralization 73.5 m 62.5 m
Total off-scale (>10,000 to 29,999 cps)(3) 15.7 m 4.4 m
Total off-scale (>30,000 to 60,999 cps)(3) 5.2 m 2.5 m
Total off-scale (>61,000 cps)(3) 2.2 m 1.8 m
Continuous GT (grade times thickness) 605 319
Winter 2016 AR-16-81c3(2) AR-16-76c4(2) AR-16-76c1(2) AR-16-76c3(2) AR-16-63c1(2)
Total composite mineralization 48.5 m 105.7 m 73.5 m 67.5 m 55.5 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
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
Total off-scale (>61,000 cps)(3) 2.5 m 0.0 m 5.3 m 4.5 m 0.0 m
Continuous GT (grade times thickness) 395 142 and 63 762 761 203
Winter 2016 AR-16-63c3(2) AR-16-86c1(2) AR-16-74c1(2) AR-16-63c2(2) AR-16-91c2(2)
Total composite mineralization 147.0 m 90.0 m 88.0 m 138.0 m 89.0 m
Total off-scale (>10,000 to 29,999 cps)(3) 22.1 m 8.8 m 21.2 m 17.1 m 13.4 m
Total off-scale (>30,000 to 60,999 cps)(3) 3.0 m 2.3 m 1.2 m 9.9 m 6.0 m
Total off-scale (>61,000 cps)(3) 0.5 m 2.0 m 0.0 m 13.9 m 3.0 m
Continuous GT (grade times thickness) 274 and 124 394 160 and 35 638 and 604 514
Winter 2016 AR-16-64c3(2) AR-16-64c2(2) AR-16-64c1(2) AR-16-72c2(2) AR-16-78c1(2)
Total composite mineralization 102.0 m 76.0 m 74.0 m 93.0 m 64.0 m
Total off-scale (>10,000 to 29,999 cps)(3) 18.8 m 16.0 m 10.3 m 7.0 m 11.6 m
Total off-scale (>30,000 to 60,999 cps)(3) 2.5 m 4.7 m 3.7 m 0.5 m 3.0 m
Total off-scale (>61,000 cps)(3) 0.0 m 5.5 m 0.0 m 1.7 m 2.5 m
Continuous GT (grade times thickness) 172 and 92 541 338 156 and 45 485
Winter 2016 AR-16-78c4(2)
Total composite mineralization 120.5 m
Total off-scale (>10,000 to 29,999 cps)(3) 25.8 m
Total off-scale (>30,000 to 60,999 cps)(3) 6.2 m
Total off-scale (>61,000 cps)(3) 5.5 m
Continuous GT (grade times thickness) 660 and 88 and 67
Summer 2016 AR-16-92c3(1) AR-16-98c2(1) AR-16-93c2(1) AR-16-96c2(1) AR-16-91c4(1)
Total composite mineralization 49.5 m 85.0 m 69.5 m 60.5 m 78.5 m
Total off-scale (>10,000 to 29,999 cps)(3) 7.1 m 3.3 m 8.15 m 8.9 m 6.1 m
Total off-scale (>30,000 to 60,999 cps)(3) 1.4 m 1.0 m 1.5 m 3.5 m 2.05 m
Total off-scale (>61,000 cps)(3) 2.3 m 5.75 m 1.5 m 1.0 m 1.5 m
Continuous GT (grade times thickness) 115 and 144 Assays pending 279 Assays pending 215
(1) Radioactivity results previously released.
(2) Radioactivity and assays results previously released.
(3) Minimum radioactivity using RS-120 gamma spectrometer.
Activities and financial
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The summer 2016 program of seven drill rigs has been extended and will conclude in late October, 2016.
- The company has cash on hand of approximately $85-million.
Garrett Ainsworth, vice-president, exploration and development, commented: "The high-grade assay intervals returned from each drill hole reported herein exhibit the robust nature of the Arrow deposit. The A2 high-grade domain continues to expand, while the new high-grade zone within the A1 shear has returned superb results which requires substantial drilling to properly assess the large untested surrounding areas."
Leigh Curyer, chief executive officer, commented: "These assay results are meeting the summer program objectives of Arrow infill and expansion drilling in demonstrating strong continuity of the A2 high-grade domain and increasing the area of defined mineralization in the A1 shear. Summer drilling has been extended to the end of October, 2016, with the company targeting an updated Arrow resource for the first half of 2017."
ARROW DEPOSIT ASSAY RESULTS
Hole ID From To Interval U3O8
(m) (m) (m) (%)
AR-16-91c4 400.50 403.00 2.50 0.04
406.00 409.00 3.00 0.04
412.00 413.00 1.00 0.06
416.00 422.00 6.00 0.05
425.00 450.00 25.00 0.21
457.00 458.00 1.00 0.08
463.50 479.00 15.50 0.15
497.50 541.00 43.50 4.95
incl. 527.00 539.00 12.00 16.70
551.50 557.00 5.50 2.61
573.50 576.00 2.50 0.03
590.50 592.00 1.50 0.03
602.00 609.00 7.00 0.05
623.00 627.00 4.00 0.02
630.50 678.50 48.00 0.30
685.50 692.50 7.00 0.12
695.50 727.50 32.00 1.19
732.50 734.00 1.50 0.25
AR-16-92c1 535.50 542.00 6.50 0.16
544.50 546.50 2.00 0.75
549.50 550.50 1.00 2.06
558.00 558.50 0.50 0.07
566.00 624.50 58.50 0.99
627.50 647.00 19.50 1.43
650.00 654.00 4.00 0.07
678.00 684.50 6.50 0.02
707.50 708.50 1.00 0.05
731.00 734.00 3.00 0.10
737.50 738.50 1.00 0.04
744.50 745.50 1.00 0.03
748.50 750.00 1.50 0.02
762.50 763.50 1.00 0.05
773.00 773.50 0.50 0.02
781.00 781.50 0.50 0.07
784.50 792.50 8.00 0.09
801.00 802.00 1.00 0.02
810.00 824.50 14.50 0.23
827.00 848.50 21.50 0.07
851.00 863.00 12.00 0.15
869.00 870.00 1.00 1.38
872.50 873.00 0.50 0.05
882.50 884.50 2.00 0.48
913.50 915.00 1.50 0.02
922.50 923.00 0.50 0.03
AR-16-92c2 562.00 575.00 13.00 0.04
585.00 586.50 1.50 0.10
592.00 592.50 0.50 0.21
596.00 597.00 1.00 0.21
604.50 621.00 16.50 0.42
627.00 628.00 1.00 0.31
630.50 632.50 2.00 0.07
637.50 658.00 20.50 1.53
664.50 665.50 1.00 0.06
668.00 668.50 0.50 0.12
672.50 676.00 3.50 0.05
744.50 748.00 3.50 0.03
775.50 801.50 26.00 0.09
810.00 813.50 3.50 0.02
817.50 821.00 3.50 0.03
829.00 830.50 1.50 0.07
835.50 840.00 4.50 0.18
858.00 859.00 1.00 0.12
861.50 867.50 6.00 0.04
875.50 877.00 1.50 0.02
891.00 894.50 3.50 0.15
898.00 898.50 0.50 0.06
902.50 908.00 5.50 0.04
910.50 914.50 4.00 0.02
917.00 920.50 3.50 0.38
923.00 925.50 2.50 0.24
929.50 931.50 2.00 0.06
939.00 946.50 7.50 0.25
971.00 978.00 7.00 0.18
983.50 984.50 1.00 6.82
988.00 989.50 1.50 0.35
997.50 1,010.00 12.50 0.53
AR-16-92c3 529.00 550.00 21.00 0.11
553.00 562.50 9.50 0.11
570.50 571.00 0.50 0.05
575.00 576.50 1.50 0.05
599.00 599.50 0.50 0.04
602.00 608.00 6.00 0.23
611.00 625.00 14.00 8.21
incl. 620.00 625.00 5.00 18.75
629.00 641.00 12.00 12.02
incl. 629.00 636.00 7.00 20.44
645.00 660.00 15.00 0.13
664.00 674.50 10.50 0.05
686.00 687.00 1.00 0.05
696.50 700.50 4.00 0.19
713.00 716.00 3.00 0.06
722.50 723.00 0.50 0.04
774.00 774.50 0.50 0.08
791.00 795.50 4.50 0.13
815.00 824.00 9.00 0.17
829.50 830.50 1.00 1.24
833.50 834.00 0.50 0.23
846.00 847.00 1.00 1.73
874.00 876.50 2.50 0.07
881.50 882.00 0.50 0.18
898.50 900.00 1.50 0.09
AR-16-93c1 418.00 420.50 2.50 0.04
424.50 436.50 12.00 0.11
441.50 444.00 2.50 0.03
447.00 501.00 54.00 3.02
incl. 472.50 477.50 5.00 26.22
509.00 511.00 2.00 0.56
604.00 605.00 1.00 0.12
626.50 643.00 16.50 0.05
678.00 679.00 1.00 0.01
694.00 711.50 17.50 0.10
746.00 750.50 4.50 0.18
AR-16-93c2 400.50 402.00 1.50 0.10
411.50 414.00 2.50 0.05
427.00 431.50 4.50 0.03
436.50 448.50 12.00 0.07
452.50 505.50 53.00 5.27
incl. 480.50 505.50 25.00 10.87
incl. 480.50 492.50 12.00 20.21
incl. 485.50 487.50 2.00 68.00
508.50 525.00 16.50 2.93
563.50 564.50 1.00 0.03
594.00 595.00 1.00 0.07
607.50 617.00 9.50 0.05
624.00 628.00 4.00 0.54
655.50 662.50 7.00 0.02
665.00 669.00 4.00 0.74
679.00 681.00 2.00 0.19
697.50 721.50 24.00 1.31
734.50 737.50 3.00 0.03
Composite parameters
Minimum thickness of 0.5 m downhole.
Cut-off grade of 0.01 per cent U3O8.
Maximum internal dilution of two m downhole.
U3O8 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.
Technical information
All scientific and technical information in this news release has been prepared by or reviewed and approved by Mr. Ainsworth for NexGen. Mr. Ainsworth is a qualified person for the purposes of National Instrument 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.
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 set forth above, please refer to the technical report entitled "Technical Report on the Rook 1 Property, Saskatchewan, Canada," dated effective April 13, 2016, prepared by Mark B. Mathisen and David Ross, 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.
NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca basin, Saskatchewan, Canada, including a 100-per-cent interest in Rook I, location of the Arrow discovery in February, 2014, and Bow discovery in March, 2015. The Arrow deposit's maiden inferred mineral resource estimate is 201.9 million pounds U3O8 contained in 3.48 million tonnes grading 2.63 per cent U3O8.
We seek Safe Harbor.
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