New Age Metals

NexGen Energy Drills 26.5 Metres of 20.27% U3O8 at Arrow Project

Nov. 8, 2016 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, OTCQX:NXGEF) is pleased to report assay results for 14 holes from our highly successful summer drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.

Assays continue to confirm that holes drilled at the Arrow Deposit are strongly mineralized both inside and outside the A2 High Grade Domain as well as in other shears at Arrow including the A1 (see Figure 1). Of key importance, scissor hole AR-16-98c2 returned 73.5 m at 7.59% U3O8 including 26.5 m at 20.27% U3O8 and 10.0 m at 51.40% U3O8 both inside and outside the A2 High Grade Domain. This represents a continuous grade x thickness ("GT" in U3O8 x meters) of 558 which is the best interval drilled in any scissor hole (azimuth from southeast to northwest) at Arrow to date. Additionally, hole AR-16-96c2 returned 57.5 m at 4.17% U3O8 including 10.0 m at 15.73% U3O8 which was also intersected inside and outside of the A2 High Grade Domain.

In the A1 shear, hole AR-16-98c1 returned 21.0 m at 4.17% U3O8 including 5.0 m at 10.97% U3O8. The mineralized domains in the A1 shear remain largely undrilled over a strike length of at least 360 m. This represents a priority area for potential future resource growth.

In addition, the first assay results from the area between the Arrow Deposit grade shells, and the mineralized area 180 m to the southwest, have shown that strong, broad uranium concentrations are present. In this area, hole AR-16-97 returned 18.0 m at 2.64% U3O8 including 6.0 m at 5.89% U3O8. Mineralization extends from the Arrow Deposit 43-101 Inferred Mineral Resource to the southwest for at least 240 m where it remains open in all directions.

Highlights:

A2 Sub-Zone

  • Scissor hole AR-16-98c2 (70 m up-dip from AR-15-44b) intersected 73.5 m at 7.59% U3O8 (454.0 to 527.5 m) including 55.0 m at 10.12% U3O8 (471.0 to 526.0 m), 26.5 m at 20.27% U3O8 (501.0 to 527.7 m) and 10.0 m at 51.40% U3O8 (502.0 to 512.0 m).
  • Hole AR-16-96c2 (75 m down-dip and northeast from AR-15-44b) intersected 57.5 m at 4.17% U3O8 (551.5 to 609.0 m) including 10.0 m at 15.73% U3O8 (591.0 to 601.0 m).

A1 Shear

  • Scissor hole AR-16-98c1 (16 m southwest from AR-16-84c1) intersected 21.0 m at 4.17% U3O8 (666.0 to 687.0 m) including 5.0 m at 10.97% U3O8 (678.0 to 683.0 m).

Southwest Arrow

  • Hole AR-16-97 (145 m down-dip and northeast from AR-16-90c3) intersected 18.0 m at 2.64% U3O8 (750.5 to 768.5 m) including 6.0 m at 5.89% U3O8 (753.0 to 759.0 m).

Table 1: Higher Grade A2 Sub-Zone Drill Hole Comparison

2015 AR-15-
59c22
AR-15-
54c12
AR-15-
58c12
AR-15-
622
AR-15-
44b2
AR-15-
49c22
AR-15-
57c32
Total composite mineralization = 75.5m 42.0m 86.0m 143.0m 135.6m 73.5m 62.5m
Total Off-scale (>10,000 to 29,999 cps)3 = 11.4m 5.9m 14.3m 17.8m 30.3m 15.7m 4.4m
Total Off-scale (>30,000 to 60,999 cps)3 = 4.5m 3.0m 3.9m 10.6m 7.8m 5.2m 2.5m
Total Off-scale (>61,000 cps)3 = 1.0m 0.5m 2.0m 2.0m 1.5m 2.2m 1.8m
Continuous GT (Grade x Thickness) = 371 277 200 and
345
787 655 605 319
 
Winter 2016 AR-16-
81c32
AR-16-
76c42
AR-16-
76c12
AR-16-
76c32
AR-16-
63c12
AR-16-
63c32
AR-16-
86c12
AR-16-
74c12
AR-16-
63c22
AR-16-
91c22
AR-16-
64c32
AR-16-
64c22
AR-16-
64c12
AR-16-
72c22
AR-16-
78c12
AR-16-
78c42
Total composite mineralization = 48.5m 105.7m 73.5m 67.5m 55.5m 147.0m 90.0m 88.0m 138.0m 89.0m 102.0m 76.0m 74.0m 93.0m 64.0m 120.5m
Total Off-scale (>10,000 to 29,999 cps)3 = 5.2m 19.9m 14.8m 14.9m 6.9m 22.1m 8.8m 21.2m 17.1m 13.4m 18.8m 16.0m 10.3m 7.0m 11.6m 25.8m
Total Off-scale (>30,000 to 60,999 cps)3 = 4.0m 1.0m 2.8m 5.0m 0.5m 3.0m 2.3m 1.2m 9.9m 6.0m 2.5m 4.7m 3.7m 0.5m 3.0m 6.2m
Total Off-scale (>61,000 cps)3 = 2.5m 0.0m 5.3m 4.5m 0.0m 0.5m 2.0m 0.0m 13.9m 3.0m 0.0m 5.5m 0.0m 1.7m 2.5m 5.5m
Continuous GT (Grade x Thickness) = 395 142 and
63
762 761 203 274 and
124
394 160 and
35
638 and
604
514 172 and
92
541 338 156 and
45
485 660 and
88 and
67
 
Summer 2016 AR-16-
92c32
AR-16-
98c21
AR-16-
93c22
AR-16-
96c21
AR-16-
91c42
AR-16-
108c21
Total composite mineralization = 49.5m 85.0m 69.5m 60.5m 78.5m 69.5m
Total Off-scale (>10,000 to 29,999 cps)3 = 7.1m 3.3m 8.15m 8.9m 6.1m 17.05m
Total Off-scale (>30,000 to 60,999 cps)3 = 1.4m 1.0m 1.5m 3.5m 2.05m 0.5m
Total Off-scale (>61,000 cps)3 = 2.3m 5.75m 1.5m 1.0m 1.5m 0.5m
Continuous GT (Grade x Thickness) = 115 and
144
558 279 240 215 Pending
 
1 radioactivity results previously released
2 radioactivity and assays results previously released
3 minimum radioactivity using RS-120 gamma scintillometer
 
 
Note: GT is Grade (%U3O8) across core length thickness
(m), and does not represent true thickness;
true
thicknesses are yet to be determined.

Arrow, Activities & Financial

  • The summer 2016 drilling program is nearing completion and the winter program will commence early 2017.
  • The Company has cash on hand of approximately $75 million.

A three-dimensional view of the A2 High Grade Domain, long sections of the A1 and A2 shears, a schematic long section of the Arrow gap, and a plan map are shown in Figures 1 to 5. Table 2 shows complete assay results.

Garrett Ainsworth, Vice-President, Exploration and Development, commented: "These latest drill assay results confirm and surpass expectations from previously released radioactivity results, and show significant high grade uranium intervals inside and outside of the maiden inferred resource modelled grade shell domains.  Drill hole AR-16-98c2 has returned the highest GT to date for a scissor hole, and has contributed to increased confidence of the A2 High Grade Domain contacts, while also demonstrating the sub-vertical nature of mineralization at Arrow.

Leigh Curyer, Chief Executive Officer, commented: "These multiple strong assays from the A2 High Grade Domain, the A1 shear, as well as the extension area southwest of Arrow to the 180 m Area, highlights significant drilling is required at Arrow before the true extent of mineralization can be determined.  Planning for winter 2017 is already well underway and will commence prior to the release of an updated resource estimate in H1 2017."

Table 2: Arrow Deposit Assay Results
     
Drill Hole Athabasca Group -
Basement
Unconformity Depth
(m)
SRC Geoanalytical Results
Hole ID Azimuth Dip Total
Depth
(m)
From (m) To (m) Interval
(m)
U3O8 (wt%)
AR-16-90c4 140 -75 932.00 N/A 681.00 688.50 7.50 0.04
          703.00 753.00 50.00 0.13
          758.00 759.50 1.50 0.09
          780.00 782.00 2.00 0.04
          786.50 788.50 2.00 0.05
          833.00 834.00 1.00 0.02
AR-16-90c5 140 -75 882.00 N/A 709.00 712.50 3.50 0.03
          715.50 716.50 1.00 0.06
          721.00 721.50 0.50 0.09
          741.50 743.00 1.50 0.16
          751.50 752.00 0.50 0.20
          755.50 757.50 2.00 0.03
          783.50 785.00 1.50 0.16
          789.00 792.00 3.00 0.06
          794.50 808.50 14.00 0.03
          821.00 821.50 0.50 0.03
          833.50 834.50 1.00 0.03
AR-16-90c6 140 -75 966.00 N/A 636.50 647.50 11.00 0.03
          675.00 677.50 2.50 0.04
          681.50 714.50 33.00 0.08
          718.50 729.50 11.00 0.08
          732.50 736.50 4.00 0.05
          744.50 758.50 14.00 0.09
          763.50 780.50 17.00 0.09
          792.00 792.50 0.50 0.07
          841.00 845.00 4.00 0.02
          910.00 910.50 0.50 0.07
AR-16-92c4 147 -67 1041.00 111.00 538.00 538.50 0.50 0.02
          594.50 604.00 9.50 0.13
          607.00 621.00 14.00 0.56
          630.50 631.00 0.50 0.03
          636.50 658.50 22.00 1.11
          661.50 676.00 14.50 0.05
          680.00 688.00 8.00 1.13
          691.00 725.50 34.50 0.27
          757.00 757.50 0.50 0.11
          766.00 767.00 1.00 0.05
          797.50 800.00 2.50 0.02
          807.50 815.50 8.00 0.06
          822.50 843.00 20.50 0.04
          851.00 853.00 2.00 0.13
          869.00 872.50 3.50 0.05
          890.00 892.00 2.00 0.05
          895.00 897.50 2.50 0.04
          900.50 906.00 5.50 0.04
          918.00 919.50 1.50 0.02
          933.50 947.00 13.50 0.06
          966.50 982.00 15.50 1.04
          998.50 999.00 0.50 0.14
          1010.50 1011.50 1.00 0.07
AR-16-94c1 147 -70 921.00 98.80 760.00 760.50 0.50 0.09
          773.00 779.00 6.00 0.11
          794.50 796.00 1.50 0.09
          853.50 855.00 1.50 0.04
          859.00 863.00 4.00 0.13
AR-16-95c1 147 -70 1044.00 94.50 617.00 618.50 1.50 0.04
          685.50 689.00 3.50 0.15
          694.00 694.50 0.50 0.02
          704.50 706.00 1.50 0.07
          715.00 715.50 0.50 0.03
          723.50 729.00 5.50 0.15
          734.00 740.00 6.00 0.13
          743.00 752.00 9.00 0.74
          756.00 757.50 1.50 0.06
          769.00 785.00 16.00 0.19
          845.50 846.00 0.50 0.03
          854.50 855.00 0.50 0.09
          864.00 864.50 0.50 0.12
          867.00 867.50 0.50 0.02
          872.50 873.00 0.50 0.04
          891.00 891.50 0.50 0.09
          897.00 903.00 6.00 0.14
          911.50 912.50 1.00 0.07
          942.50 949.50 7.00 0.04
AR-16-95c2 147 -70 807.00 N/A 300.50 304.50 4.00 0.02
          693.50 695.00 1.50 0.08
          700.00 700.50 0.50 0.04
          721.50 726.50 5.00 0.25
AR-16-96c1 147 -73 1026.00 108.00 397.50 401.00 3.50 0.03
          404.00 416.50 12.50 0.05
          512.50 518.00 5.50 0.03
          521.00 545.00 24.00 5.88
        incl. 529.00 537.00 8.00 15.44
          564.50 578.00 13.50 0.15
          581.00 581.50 0.50 0.09
          589.00 596.50 7.50 0.26
          600.50 601.50 1.00 0.01
          606.50 674.00 67.50 0.58
          682.00 684.00 2.00 0.07
          687.00 697.50 10.50 0.04
          707.00 708.00 1.00 0.77
          720.50 725.00 4.50 0.02
          733.00 733.50 0.50 0.06
          737.50 741.50 4.00 0.02
          762.50 771.00 8.50 0.01
          776.00 779.00 3.00 0.07
          783.50 784.00 0.50 0.01
          792.00 792.50 0.50 0.09
          796.00 796.50 0.50 0.28
          937.50 938.00 0.50 0.02
AR-16-96c2 147 -73 855.00 108.00 399.50 418.50 19.00 0.05
          551.50 609.00 57.50 4.17
        incl. 591.00 601.00 10.00 15.73
        incl. 594.00 599.00 5.00 26.46
          612.00 614.00 2.00 5.57
          618.50 619.00 0.50 0.06
          643.00 644.50 1.50 0.05
          649.50 655.00 5.50 0.02
          702.50 713.50 11.00 0.07
          734.00 739.50 5.50 0.04
          747.50 750.50 3.00 0.01
          753.50 754.50 1.00 0.06
          758.50 764.50 6.00 0.52
          768.50 777.50 9.00 0.03
          780.50 783.00 2.50 0.07
          815.50 820.00 4.50 0.02
          826.50 829.00 2.50 0.02
AR-16-96c3 147 -73 1013.00 108.00 411.00 424.50 13.50 0.06
          538.50 560.00 21.50 2.33
          563.00 573.00 10.00 1.65
          577.00 581.00 4.00 4.31
          590.00 607.00 17.00 0.23
          610.00 617.00 7.00 0.28
          621.00 637.00 16.00 1.02
          643.00 652.00 9.00 0.28
          662.00 664.00 2.00 0.29
          668.00 680.00 12.00 0.29
          695.00 710.00 15.00 0.13
          720.50 723.00 2.50 0.06
          773.00 773.50 0.50 0.05
          811.00 811.50 0.50 0.35
AR-16-97 147 -73 1005.00 93.70 637.50 640.00 2.50 0.42
          653.00 654.00 1.00 0.05
          659.00 660.00 1.00 0.79
          678.00 679.00 1.00 0.03
          684.50 697.00 12.50 0.77
          699.50 711.50 12.00 0.42
          714.50 715.50 1.00 0.02
          733.50 734.00 0.50 0.03
          739.50 740.50 1.00 0.20
          747.00 748.00 1.00 0.18
          750.50 768.50 18.00 2.64
        incl. 753.00 759.00 6.00 5.89
          793.50 794.00 0.50 0.23
          805.00 805.50 0.50 0.07
          812.50 825.50 13.00 0.06
          833.00 839.50 6.50 0.10
          862.00 867.00 5.00 0.04
          908.00 916.50 8.50 0.03
          927.50 928.50 1.00 0.15
          936.50 937.00 0.50 0.04
AR-16-98c1 327 -73 804.00 130.60 386.50 387.00 0.50 0.07
          405.50 412.50 7.00 0.06
          415.00 419.50 4.50 0.05
          423.50 430.00 6.50 0.13
          437.50 440.00 2.50 0.10
          445.00 519.00 74.00 1.54
        incl. 495.00 505.00 10.00 7.30
          527.00 532.50 5.50 0.04
          570.50 577.00 6.50 0.06
          592.00 597.00 5.00 0.07
          602.50 603.00 0.50 2.42
          605.50 606.50 1.00 0.01
          656.50 661.00 4.50 0.06
          666.00 687.00 21.00 4.17
        incl. 678.00 683.00 5.00 10.97
          692.00 704.50 12.50 0.54
          734.50 736.00 1.50 0.58
          747.00 747.50 0.50 0.11
AR-16-98c2 327 -73 923.00 130.60 414.00 435.00 21.00 0.07
          442.00 443.00 1.00 0.01
          454.00 527.50 73.50 7.59
        incl. 471.00 526.00 55.00 10.12
        incl. 501.00 527.70 26.50 20.27
        incl. 502.00 512.00 10.00 51.40
          537.00 547.00 10.00 0.34
          589.00 591.00 2.00 0.17
          636.50 637.50 1.00 0.05
          671.50 676.50 5.00 0.02
          704.00 709.50 5.50 0.05
          715.50 726.00 10.50 0.08
          733.00 734.00 1.00 0.12
          758.50 759.00 0.50 0.33
          786.50 787.50 1.00 0.02
          792.00 799.00 7.00 0.02
          805.50 808.50 3.00 0.06
          812.00 813.00 1.00 0.03
AR-16-99c1 327 -70 998.00 N/A 732.00 734.50 2.50 0.07
          737.50 763.50 26.00 0.24
          767.50 776.50 9.00 0.14
          785.50 788.00 2.50 0.07
          832.00 835.50 3.50 0.04
          848.00 848.50 0.50 0.03
          851.50 853.00 1.50 0.09
          858.00 865.50 7.50 0.06
          871.50 872.50 1.00 0.05
          878.50 880.50 2.00 0.08
          883.50 889.50 6.00 0.02
          894.50 895.50 1.00 0.02
          916.00 920.00 4.00 0.04
          949.00 949.50 0.50 0.03
          956.00 956.50 0.50 0.05

Composite parameters:

  • Minimum thickness 0.5 m downhole
  • Cutoff grade 0.01% U3O8
  • Maximum internal dilution 2.00 m downhole
  • U3O8 analyzed by ICP-OES at SRC Laboratories, Saskatoon, Saskatchewan
  • 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 selected samples for 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.

Technical Information

All scientific and technical information in this news release has been prepared by or reviewed and approved by Mr. Garrett Ainsworth, P.Geo., Vice President – Exploration & Development for NexGen. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("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.

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 (the "Rook 1 Technical Report") 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 at www.sedar.com.

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% 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 M lbs U3O8 contained in 3.48 M tonnes grading 2.63% U3O8.

Source: NexGen Energy

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