Nexgen Returns 13.5 M at 3.94% U308 including 2.5 M at 20.90 % at Harpoon

VANCOUVER, March 23, 2017 /CNW/ – NexGen Energy Ltd. (“NexGen” or the “Company“) (TSX:NXE, OTCQX:NXGEF) is pleased to report assay results for 20 holes from our 2016 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.

Complete assay results have been received from all holes drilled at the Harpoon discovery and other regional target areas on the Rook I property from the 2016 drill program. At Harpoon, multiple holes have intersected uranium mineralization as well as encouraging alteration and narrow intervals of uranium mineralization was identified up to 2.3 km south of the Arrow Deposit. The mineralized footprint at Harpoon has been traced over a strike length of at least 340 m on the Rook I property, and remains open in all directions.


Harpoon Discovery

  • HP-16-20 (73 m up-dip and northeast from discovery hole HP-16-08) intersected 13.5 m at 3.94% U3O8 (182.5 to 196.0 m) including 2.5 m at 20.90% U3O8 (187.0 to 189.5 m).
  • HP-16-08 (Discovery Hole) intersected 17.5 m at 3.89% U3O8 (219.5 to 237.0 m) including 2.5 m at 12.49% U3O8 (224.5 to 227.0 m).
  • HP-16-13 (33 m down-dip and southwest from HP-16-08) intersected 18.5 m at 1.17% U3O8 (211.5 to 230.0 m).

Furthermore, uranium mineralization has been confirmed for the first time 2.3 km south of the Arrow Deposit (see Figure 3).  Regional holes RK-16-98, -100, -102, -104, -106 and -108 were drilled at a target area featuring a disrupted VTEM conductor and gravity low situated along a steep magnetic gradient, which presents a similar geophysical signature to that of the Arrow Deposit. All holes intersected widespread and intense hydrothermal alteration including near complete clay and silica replacement styles over tens of meters (see news release dated November 2, 2016). Holes RK-16-98 and -108 also intersected narrow zones of low grade uranium mineralization (see Table 1).

Arrow, Activities & Financial

  • The 2017 winter program comprising a minimum of 35,000 m using seven drill rigs is currently underway.
  • The Company has cash on hand of approximately $64 million.

A Harpoon long section as well as plan maps with hole locations are shown in Figures 1 to 3.  Table 1 shows complete assay results.

Garrett Ainsworth, Vice-President, Exploration and Development, commented: “With only 24 drill holes, Harpoon has the potential to be a new uranium zone and speaks to how fertile the Patterson Corridor is for high-grade uranium. The ZTEM survey over the Patterson Corridor is a dynamic layer of geophysical data which complements our existing data, and will be used to further refine regional targets along the Patterson Corridor in the future.”

For the full press release click here.

Category: News Story

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