Mr. Leigh Curyer reports
NEXGEN RELEASES PROJECT DEVELOPMENT-FOCUSED SUMMER 2018 DRILLING RESULTS
NexGen Energy Ltd. has released geotechnical and radioactivity results for 29 holes comprising 20,482.31 metres on the company's 100-per-cent-owned Rook I property, in the Athabasca basin, Saskatchewan. The primary objective of the program was the geotechnical characterization of areas within Arrow's footwall, lateral development and potential underground infrastructure locations of which results were incorporated into the prefeasibility study (PFS) released on Nov. 5, 2018. The exploration results of this release which encountered strong mineralized intervals in key areas were not incorporated into the updated mineral resource estimate and PFS results, released on Nov. 5, 2018.
Highlights
Geotechnical characterization of the A2 subzone
Two holes drilled to geotechnically characterize the rock mass within the A2 subzone, underwent dedicated geotechnical logging and packer tests throughout the ore zone to obtain data and analysis of subsurface conditions within the mine plan. Both holes were collared at a steep inclination, then shallowed out to a dip of approximately 57 degrees:
-
GAR-18-016 intersected
38.5 metres of total composite mineralization including
10.7 m of total composite off-scale radioactivity (greater than 10,000 to greater than 61,000 counts per second) within a 75 m section (552.0 to 627.0 m) and featured
1.5 m of continuous massive to semi-massive pitchblende with minimum greater than 61,000 cps.
Geotechnical characterization of the footwall:
- Holes targeting the footwall successfully characterized the geotechnical and hydrogeological conditions of the rock mass proximal to the potential mine infrastructure and underground tailings management facility (UGTMF). Additionally, drilling focused on the sterilization of uranium mineralization within areas that will host project development infrastructure and were all geotechnically logged incorporating packer tests at regular intervals.
-
Holes drilled within the footwall of Arrow, in areas of envisioned underground mine infrastructure intersected suitable rock mass and hydraulic conductivity to facilitate underground development.
Similarly, holes drilled within the proximity of the UGTMF positively indicated the area contains suitable rock mass and low hydraulic conductivity to facilitate underground development.
Importantly, negligible alteration and structure were intersected in proximity of envisioned underground mine infrastructure and UGTMF.
Shaft pilot hole program
Three shaft pilot holes were successfully completed to a depth of between 650 m and 702 m. The vertically drilled shaft holes were kept within a 3.0 m radius from surface through to their termination depths, intersected minimal structure and showed low hydraulic conductivity throughout via packer testing at regular intervals:
-
GAR-18-010 targeted shaft location option 1: The hole was successfully completed to a depth of 650 m, intersecting minimal structure within proximity of targeted area in the footwall. A total of 6.0 metres of composite uranium mineralization were intersected (549.0 m to 550.0 m) with a maximum radioactivity of 3,900 cps.
- GAR-18-013 targeted shaft location option 2: The hole was successfully completed to a depth of 650 m. Preliminary results indicate the area contains suitable rock mass and low hydraulic conductivity to facilitate future shaft design:
- A Westbay water monitoring system was installed after the hole was completed to allow for continued sampling of the proposed shaft location.
- GAR-18-015 targeted shaft location option 3: The hole was successfully completed to a depth of 702 m, intersecting minimal structure within designed underground mine infrastructure. Preliminary results indicate the area contains suitable rock mass and low hydraulic conductivity to facilitate a future shaft design.
Exploration, A2 high-grade domain
Drilling focused on an underexplored area to the northeast boundary of the currently defined A2 high-grade domain at variable elevations. Drilling resulted in the identification of mineralization between the A2 and A3 shears as well as demonstrating the continuity of high-grade mineralization beyond the currently defined A2 high-grade domains:
- AR-18-220c1 (located 50 m along strike to the northeast of AR-14-30 (10.32 per cent U3O8 (triuranium octoxide) over 46.0 m)) intersected
55.5 m of total composite mineralization including
2.25 m of total composite off-scale radioactivity (greater than 10,000 to greater than 61,000 cps) within a 109.5 m section (438.5 to 548.0 m) in the A2 shear. The hole demonstrates the continuity of high-grade mineralization beyond the currently defined A2 high-grade domains in the A2 shear.
Leigh Curyer, chief executive officer, commented: "The successful completion of the geotechnical and hydrogeological drilling was highly positive and reflected in the Arrow project PFS released on Nov. 5, 2018. In addition, the exploration results at Arrow this last summer continue to provide strong upside with respect to areas of potential future resource growth. These results have positively set the foundation for our largest campaign to date at Arrow -- a two-staged 125,000 m drill program commencing mid-December, 2018, through to the third quarter of 2019. The results of this program will then be incorporated into a feasibility study scheduled to be released in the first half of 2020."
Troy Boisjoli, vice-president, operations and project development, commented: "The summer 2018 drill program demonstrated the highly competent geotechnical characteristics of the Arrow deposit. The team is looking forward to the approaching 125,000 m drill program to further advance and optimize Arrow's potential mine development profile. Further, the high-grade mineralization encountered northeast of the A2 high-grade domain is a great result providing additional areas to test in the future for potential resource growth."
Development, activities and financial:
-
Expediting Arrow to feasibility by initiating a two-stage 125,000 m (10 rigs) high-density drilling program commencing in mid-December, 2018,
to focus on mine optimization plans based on measured and indicated mineral resources;
- As of Oct. 31, 2018, had cash-on-hand of approximately $125-million which fully finances NexGen for all programs throughout 2019.
ARROW DRILL HOLE DATA
Athabasca Hand-held
Group basement scintillometer results (RS-120)
Hole ID Total depth unconformity depth From To Width CPS range
(m) (m) (m) (m) (m)
less than
AR-18-210c1 876.50 115.00 606.50 607.00 0.50 500-1,710
less than
AR-18-210c2 957.50 N/A 584.50 585.00 0.50 500-510
AR-18-210c3 946.00 N/A no anomalous radioactivity
less than
AR-18-211c1 1,128.50 N/A 865.50 866.00 0.50 500-1,300
less than
869.50 870.00 0.50 500-610
less than
876.00 876.50 0.50 500-570
less than
961.50 962.00 0.50 500-650
less than
1089.00 1089.50 0.50 500-650
less than
AR-18-211c2 1,014.50 N/A 660.50 661.00 0.50 500-680
AR-18-211c3 1,063.50 N/A no anomalous radioactivity
AR-18-212c1 807.50 97.70 no anomalous radioactivity
AR-18-213c1 765.50 98.85 no anomalous radioactivity
less than
AR-18-214c1 891.50 111.00 157.00 161.50 4.50 500-4,250
less than
337.00 337.50 0.50 500-970
AR-18-215c1 990.50 N/A no anomalous radioactivity
AR-18-216c1 483.50 107.40 no anomalous radioactivity
AR-18-217c1 1,233.50 122.50 910.00 910.50 0.50 500-560
less than
965.00 966.00 1.00 610-20,000
less than
969.50 971.00 1.50 500-5,200
less than
977.50 978.50 1.00 500-4,600
less than
AR-18-218c1 827.00 97.80 no anomalous radioactivity
less than
AR-18-219c1 663.50 133.95 342.50 347.00 4.50 500-1,300
less than
353.00 354.00 1.00 500-3,200
less than
359.00 369.50 10.50 500-4,300
less than
375.00 375.50 0.50 500-650
less than
387.00 416.00 29.00 500-3,300
less than
430.00 433.00 3.00 500-1,275
less than
442.00 445.00 3.00 500-1,550
less than
447.50 470.50 23.00 500-5,350
less than
572.00 573.50 1.50 500-4,200
less than
578.50 579.50 1.00 500-680
less than
586.50 590.00 3.50 500-61,000
less than
594.00 594.50 0.50 500-570
less than
602.00 605.00 3.00 500-10,500
611.50 612.00 0.50 1,100-26,700
less than
621.00 625.50 4.50 500-16500
less than
631.00 631.50 0.50 500-2,310
less than
AR-18-220c1 744.50 130.35 597.00 598.00 1.00 500-1,200
less than
624.50 625.00 0.50 500-1,500
less than
644.50 646.50 2.00 500-1,100
less than
681.50 682.00 0.50 500-660
less than
335.50 336.00 0.50 500-1,150
less than
359.50 362.00 2.50 500-630
less than
368.50 373.00 4.50 500-11,000
less than
375.50 380.50 5.00 500-8,600
less than
383.00 392.00 9.00 500-9,400
less than
396.00 410.00 14.00 500-61,000
less than
419.00 419.50 0.50 500-720
423.50 424.00 0.50 510-850
less than
438.50 441.00 2.50 500-1,280
less than
444.50 446.50 2.00 500-1,100
less than
449.00 452.50 3.50 500-2,200
less than
483.00 486.00 3.00 500-570
less than
488.50 491.00 2.50 500-1,240
less than
502.00 508.50 6.50 500-2,200
less than
512.50 548.00 35.50 500-61,000
less than
579.50 594.50 15.00 500-61,000
less than
AR-18-220c1 441.00 448.00 445.50 446.00 0.50 500-530
less than
GAR-18-006 737.40 100.80 518.00 520.50 2.50 500-7,000
less than
576.00 578.00 2.00 500-13,000
less than
600.00 600.50 0.50 500-520
GAR-18-006a 155.40 101.00 no anomalous radioactivity
GAR-18-007 671.40 93.00 no anomalous radioactivity
less than
GAR-18-008 629.60 96.05 597.00 598.50 1.50 500-3,500
less than
617.50 618.00 0.50 500-4,250
GAR-18-009 641.40 101.00 no anomalous radioactivity
less than
GAR-18-010 650.44 98.00 549.00 555.00 6.00 500-3,900
GAR-18-011 799.50 95.05 no anomalous radioactivity
less than
GAR-18-012 1,043.40 N/A 564.50 565.50 1.00 500-840
less than
589.00 589.50 0.50 500-530
less than
602.50 605.00 2.50 500-7,550
less than
767.00 767.50 0.50 500-510
GAR-18-013 650.40 108.90 no anomalous radioactivity
less than
GAR-18-014 659.40 101.00 346.00 346.50 0.50 500-520
less than
350.00 351.00 1.00 500-1,050
GAR-18-015 701.47 96.35 no anomalous radioactivity
less than
GAR-18-016 660.00 128.85 492.00 493.00 1.00 500-1,380
less than
534.50 536.50 2.00 500-830
less than
552.00 553.00 1.00 500-660
less than
579.50 607.00 27.50 500-61,000
less than
617.50 627.50 10.00 500-54,000
less than
GAR-18-017 717 127.75 406.50 407.50 1.00 500-3,600
less than
503.50 504.00 0.50 500-1,100
less than
514.50 515.00 0.50 500-31,000
less than
517.50 518.00 0.50 500-4,800
less than
521.50 522.00 0.50 500-700
530.50 531.00 0.50 2,100-47,700
less than
535.50 536.50 1.00 500-1,300
less than
564.00 564.50 0.50 500-1,800
less than
577.50 578.50 1.00 500-1,900
less than
581.50 584.00 2.50 500-1,700
less than
586.50 589.50 3.00 500-2,500
less than
594.50 597.00 2.50 500-1,500
less than
618.50 624.00 5.50 500-61,000
less than
627.00 629.50 2.50 500-3,400
less than
650.50 651.50 1.00 500-720
less than
654.00 656.50 2.50 500-1,920
less than
660.00 661.00 1.00 500-1,350
less than
666.00 667.50 1.50 500-1,650
Parameters:
- Maximum internal dilution 2.00 m downhole;
-
All depths and intervals in metres downhole, true thicknesses are yet to be determined;
-
Anomalous means greater than 500 cps total count gamma readings by gamma scintillometer type RS-120;
-
Off-scale means greater than 10,000 cps total count gamma readings by gamma scintillometer type RS-120;
-
Where min cps is less than 500 cps, this refers to local low radiometric zones within the overall radioactive interval;
-
Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip.
About NexGen
NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects.
NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca basin, Saskatchewan, Canada, including a 100-per-cent interest in Rook I, location of the Arrow deposit in February, 2014, the Bow discovery in March, 2015, the Harpoon discovery in August, 2016, and the Arrow South discovery in July, 2017. The Arrow deposit's updated mineral resource estimate with an effective date of Dec. 20, 2016, was released in March, 2017, and comprised 179.5 million pounds U3O8 contained in 1.18 million tonnes grading 6.88 per cent U3O8 in the indicated mineral resource category and an additional 122.1 million pounds U3O8 contained in 4.25 million tonnes grading 1.30 per cent U3O8 in the inferred mineral resource category.
Technical disclosure
The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O'Hara, PEng, of Wood, David Robson, PEng, MBA, and Jason Cox, PEng, of RPA, each of whom is a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
The mineral resource estimate was completed by Mark Mathisen, CPG, senior geologist at RPA, and David Ross, PGeo, director of resource estimation and principal geologist at RPA. Both are independent qualified persons in accordance with the requirements of National Instrument 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Troy Boisjoli, geoscientist licensee, vice-president, operations and project development, for NexGen. Mr. Boisjoli is a qualified person for the purposes of NI 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.
A technical report in respect of the PFS will be filed on SEDAR and EDGAR within 45 days of this news release.
Technical information
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 please refer to the technical report entitled "Technical Report on the Preliminary Economic Assessment of the Arrow Deposit, Rook 1 Property, Province of Saskatchewan, Canada," dated effective Sept. 1, 2017, prepared by Jason J. Cox, PEng, David M. Robson, PEng, MBA, Mark B. Mathisen, CPG, David A. Ross, MSc, PGeo, Val Coetzee, MEng, PrEng, and Mark Wittrup, MSc, PEng, PGeo, 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. A technical report in respect of the PFS will be filed on SEDAR and EDGAR within 45 days of the PFS news release (Nov. 5, 2018) providing 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.
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