NexGen expands high grade zone at Arrow deposit

VANCOUVER, April 18, 2016 /CNW/ – NexGen Energy Ltd. (“NexGen” or the “Company“) (TSXV:NXE, OTCQX:NXGEF) is pleased to announce further results from our recently expanded winter-spring drilling program on our 100% owned Rook I Property, AthabascaBasin, Saskatchewan.


NexGen Drills 37.4 m of Off-Scale Expanding the High Grade Domain and Discovers Anomalous Radioactivity 1.3 km Northeast of Arrow

Drill hole AR-16-78c4 has intersected dense accumulations of massive pitchblende, which has expanded the higher grade A2 sub-zone (the “Sub-Zone”) which makes up part of the A2 High Grade Domain (Figure 1, 3 to 6). The mineralization was intersected 59 m down-dip and northeast of AR-15-44b and features 37.4 m of off-scale radioactivity (>10,000 to >61,000 cps). This included5.5 m at a minimum-of-greater-than 61,000 cps, of which 4.5 m was continuous. On a radioactivity basis, AR-16-78c4 ranks asone of the best holes ever drilled at Arrow.  Importantly, the high grade mineralization encountered in hole -78c4 waspredominately intersected outside of the current boundary of A2 High Grade Domain (Figure 3).

The A2 High Grade Domain hosts a National Instrument 43-101 compliant Inferred Mineral Resource estimate of 120.5 M lbs of U3O8 contained in 0.41 M tonnes grading 13.26% U3O8, which is within the total Arrow Deposit Inferred Mineral Resource estimate of 201.9 M lbs U3O8 contained in 3.48 M tonnes grading 2.63% (see news release dated March 3, 2016). The maiden resource estimate on Arrow includes drill holes to October 2015, and does not include the 40 drill holes completed so far in 2016.

In addition, anomalous radioactivity sourced from uranium (confirmed with RS-125 spectrometer scintillometer) has been drilled approximately 1.3 km northeast of the Arrow deposit (Figure 2).  This new area, named Cannon, is coincident with a gravity low and weakened VTEM conductor. The area has very similar geophysical, lithological and alteration features to the Arrow deposit.  To date, 11 holes have been drilled at Cannon, all of which intersected strong-to-intense hydrothermal alteration. Furthermore, 4 holes have intersected anomalous radioactivity of up to 1,300 cps (measured by RS-120 hand-held scintillometer). At least two highly prospective graphitic mylonite shear zones with large envelopes of strong-to-intense clay alteration have been identified. Cannon is open in all directions and is largely untested at the unconformity up-dip from basement structures that host anomalous radioactivity.

Read the details of the NexGen Engery press release here.

Figure 2: Cannon Drill Hole Locations

Figure 2: Cannon Drill Hole Locations

Category: News Story

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