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NexGen Energy Ltd
Symbol NXE
Shares Issued 170,758,536
Close 2015-01-27 C$ 0.33
Market Cap C$ 56,350,317
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NexGen to drill up to 4,500 m at Fury on Rook I

2015-01-28 06:50 ET - News Release

Mr. Leigh Curyer reports

GROUND GRAVITY IDENTIFIES ADDITIONAL HIGH PRIORITY DRILL TARGETS AT ROOK I

NexGen Energy Ltd. has released initial results from a continuing ground gravity survey by MWH Geo-Surveys Ltd. at NexGen's 100-per-cent-owned Rook I property, located in the southwest part of Saskatchewan's Athabasca basin.

Highlights include:

  • Six high-priority drill targets have been identified at the Fury area based on geophysical data consisting of VTEM, ground gravity and magnetics;
  • The Fury area is located approximately 13.5 kilometres to the southeast of the Arrow zone in a section of the Rook I property that is thought to have 10 to 20 metres of overburden overlying basement rocks;
  • All six high-priority drill targets have similar geophysical features that led to the discovery of the Arrow zone in February, 2014. These features include VTEM conductors with diminishing conductance approaching offsets, flexures and breaks that are associated with gravity and magnetic lows;
  • The potential for shallow high-grade uranium mineralization at the Fury area has warranted drilling of up to 4,500 metres during this winter 2015 program.

Garrett Ainsworth, vice-president, exploration and development, commented: "The target-rich nature of the Rook I property is becoming increasingly evident based upon the results of this and other recent geophysical surveys across the property. The attractiveness of the Fury area is threefold: it has very similar geophysical signatures to the Arrow zone, has projected depths to basement rock at 10 to 20 metres from surface, and is along trend from encouraging drilling to the south. I look forward to one of our three rigs mobilizing to Fury shortly."

A ground gravity survey was initiated in December, 2014, on the Fury area to refine drill targeting on the Derkson East conductor corridor, which is also 1.2 kilometres north-northeast along strike from shallow radioactive drill intersections within graphitic pyritic pelitic gneiss (favourable host rock) at Fission Uranium Corp.'s Far East area, PLS property (see Fission Uranium's news releases dated Aug. 11 and Sept. 25, 2014). NexGen's Fury area is further enhanced by the occurrence of a large cluster of uraniferous radiometric anomalies located approximately four to five kilometres down ice to the southwest (see Fission 3.0 and Brades news release dated Oct. 15, 2014). High-grade uranium boulders discovered at the PLS property by the Alpha-Fission joint venture in June, 2011, were initially identified in 1977 by Canadian Occidental as radiometric, radon and uraniferous soil anomalies, that likely originated approximately five kilometres up ice (northeast) or further from a bedrock source that hosts the Triple R deposit.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of NexGen Energy, by Garrett Ainsworth, PGeo, vice-president -- exploration and development, a qualified person.

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