VANCOUVER, Jan. 15, 2018 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSX:NXE, NYSE MKT:NXE) is pleased to report assay results for the final thirty-one holes from
South Arrow as part of our recently concluded summer drilling program on our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan.
All assay results from the recently discovered shallow mineralization at South Arrow have been returned and interpreted.
Located just 400 m south of the Arrow Deposit, South Arrow consists of a series of sub-parallel
stacked mineralized shears locally anchored by accumulations of semi-massive to massive pitchblend where uranium mineralization
has been intersected over a strike length of 290 m.
South Arrow Highlights
1.
|
AR-17-166c1 intersected 20.5 m at 1.19% U 3 O
8 (182.0 to 202.5 m) including 3.5 m at 6.21% U 3 O 8 (191.5 to 195.0 m) and an
additional 24.5 m at 1.46% U 3 O 8 (212.5 to 237.0 m) including 5.0 m at 4.21% U
3 O 8 (221.0 to 226.0 m) and 4.0 m at 3.33% U 3 O 8 (229.5 to 233.5
m)
|
2.
|
AR-17-160c1 intersected 13.0 m at 2.18% U 3 O
8 (221.5 to 234.5m) including 4.0 m at 6.79% U 3 O 8 (227.0 to 231.0 m) and an
additional 19.5 m at 0.34% U 3 O 8 (191.5 to 211.0 m) including 4.0 m at 1.01% U
3 O 8 (201.5 to 205.5 m).
|
3.
|
AR-17-163c1 intersected 22.5 m at 1.07% U 3 O
8 (241.0 to 263.5m) including 3.9 m at 5.56% U 3 O 8 (256.4 to 260.3 m).
|
4.
|
AR-17-178c1 intersected 11.0 m at 2.17% U 3 O
8 (149.0 to 160.0 m) including 3.5 m at 6.73% U 3 O 8 (150.5 to 154.0 m) only 142 m
below surface.
|
Drill hole locations and a South Arrow long section are shown in figures 1 and 2.
Development, Activities & Financial
- Assay results for the final 28 drill holes from the Arrow Deposit remain pending.
- Multiple pre-feasibility stage technical studies, including geotechnical work, hydrogeological work, and metallurgy,
continue in advance of the maiden Pre-Feasibility Study to be published in Q3/2018.
- The winter 2018 exploration and development program is scheduled to commence in the coming weeks.
- The Company has cash on hand of approximately $160 million.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "These South Arrow
assay results confirm multiple high grade uranium mineralized shears encompassed within a robust alteration halo. Mineralization
at South Arrow has been encountered over a strike length of 290 m and a vertical extent of
approximately 300 m and remains open in most directions. Taking into consideration the size and
extent of the alteration halo surrounding uranium mineralization, results of geochemistry and the clay analysis which shows a
strong presence of pathfinder elements, additional drilling is planned during winter 2018 at South Arrow."
Leigh Curyer, Chief Executive Officer, commented: "Given the uranium grades and geological setting, South Arrow continues to
represent exciting exploration potential for NexGen. Additional drilling is planned for winter 2018 to extensively test South
Arrow together with multiple other high priority targets generated through 2017 geophysical studies conducted to the south west
of Arrow and South Arrow along the prolific Patterson Corridor."
Table 1: South Arrow 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-17-151c1
|
327
|
-70
|
588.50
|
103.30
|
262.50
|
263.50
|
1.00
|
0.10
|
|
|
|
|
|
301.50
|
313.00
|
11.50
|
0.44
|
|
|
|
|
incl.
|
302.00
|
305.75
|
3.75
|
1.29
|
AR-17-151c2
|
327
|
-70
|
561.50
|
103.30
|
310.50
|
312.50
|
2.00
|
0.75
|
|
|
|
|
incl.
|
311.50
|
312.00
|
0.50
|
2.14
|
|
|
|
|
|
327.50
|
328.50
|
1.00
|
0.05
|
|
|
|
|
|
359.00
|
368.00
|
9.00
|
0.14
|
|
|
|
|
incl.
|
359.50
|
363.00
|
3.50
|
0.34
|
|
|
|
|
|
404.00
|
405.00
|
1.00
|
0.02
|
AR-17-151c3
|
327
|
-70
|
405.00
|
103.30
|
280.00
|
281.50
|
1.50
|
0.23
|
|
|
|
|
|
290.50
|
292.50
|
2.00
|
0.04
|
AR-17-152c1
|
327
|
-70
|
456.50
|
96.40
|
294.50
|
298.50
|
4.00
|
0.03
|
|
|
|
|
|
302.50
|
303.00
|
0.50
|
0.04
|
AR-17-152c2
|
327
|
-70
|
540.50
|
96.40
|
332.50
|
338.00
|
5.50
|
0.09
|
|
|
|
|
|
341.00
|
342.00
|
1.00
|
0.05
|
|
|
|
|
|
384.50
|
389.50
|
5.00
|
0.02
|
|
|
|
|
|
394.50
|
397.50
|
3.00
|
0.01
|
|
|
|
|
|
405.50
|
406.50
|
1.00
|
0.04
|
|
|
|
|
|
461.00
|
461.50
|
0.50
|
0.02
|
|
|
|
|
|
470.50
|
471.00
|
0.50
|
0.02
|
|
|
|
|
|
475.50
|
476.00
|
0.50
|
0.01
|
|
|
|
|
|
481.00
|
482.00
|
1.00
|
0.11
|
|
|
|
|
|
493.50
|
496.00
|
2.50
|
0.01
|
AR-17-153c1
|
327
|
-67
|
546.00
|
97.80
|
318.50
|
319.00
|
0.50
|
0.03
|
|
|
|
|
|
373.00
|
374.00
|
1.00
|
0.15
|
|
|
|
|
|
388.50
|
401.50
|
13.00
|
0.02
|
|
|
|
|
|
407.50
|
408.50
|
1.00
|
0.01
|
|
|
|
|
|
411.50
|
419.00
|
7.50
|
0.57
|
|
|
|
|
incl.
|
414.00
|
416.50
|
2.50
|
1.61
|
|
|
|
|
|
454.00
|
455.00
|
1.00
|
0.04
|
|
|
|
|
|
496.50
|
497.00
|
0.50
|
0.02
|
AR-17-153c2
|
327
|
-67
|
558.50
|
97.80
|
409.00
|
422.50
|
13.50
|
0.17
|
|
|
|
|
incl.
|
411.50
|
414.50
|
3.00
|
0.44
|
AR-17-157c1
|
327
|
-70
|
597.50
|
N/A
|
339.00
|
339.50
|
0.50
|
0.04
|
|
|
|
|
|
381.00
|
392.50
|
11.50
|
0.02
|
|
|
|
|
|
396.00
|
399.50
|
3.50
|
0.04
|
|
|
|
|
|
487.00
|
489.00
|
2.00
|
0.02
|
|
|
|
|
|
508.00
|
509.00
|
1.00
|
0.02
|
|
|
|
|
|
528.00
|
532.00
|
4.00
|
0.02
|
|
|
|
|
|
540.00
|
540.50
|
0.50
|
0.03
|
AR-17-157c2
|
327
|
-70
|
639.00
|
N/A
|
351.00
|
352.50
|
1.50
|
0.04
|
|
|
|
|
|
399.50
|
403.00
|
3.50
|
0.05
|
|
|
|
|
|
411.00
|
413.00
|
2.00
|
0.03
|
|
|
|
|
|
488.00
|
489.00
|
1.00
|
0.02
|
|
|
|
|
|
535.50
|
536.50
|
1.00
|
0.06
|
|
|
|
|
|
543.00
|
551.00
|
8.00
|
0.04
|
|
|
|
|
|
561.50
|
566.00
|
4.50
|
0.02
|
|
|
|
|
|
577.00
|
579.50
|
2.50
|
0.14
|
AR-17-158c1
|
327
|
-70
|
600.00
|
N/A
|
429.00
|
429.50
|
0.50
|
0.02
|
|
|
|
|
|
438.00
|
439.00
|
1.00
|
0.04
|
|
|
|
|
|
445.00
|
449.50
|
4.50
|
0.02
|
|
|
|
|
|
452.00
|
461.00
|
9.00
|
0.08
|
|
|
|
|
|
466.50
|
467.50
|
1.00
|
0.03
|
|
|
|
|
|
474.50
|
475.00
|
0.50
|
0.01
|
AR-17-158c2
|
327
|
-70
|
579.50
|
N/A
|
486.50
|
489.50
|
3.00
|
0.07
|
|
|
|
|
|
496.00
|
497.00
|
1.00
|
0.05
|
|
|
|
|
|
520.00
|
525.00
|
5.00
|
0.02
|
AR-17-160c1
|
327
|
-68
|
393.00
|
97.60
|
191.50
|
211.00
|
19.50
|
0.34
|
|
|
|
|
incl.
|
201.50
|
205.50
|
4.00
|
1.01
|
|
|
|
|
|
221.50
|
234.50
|
13.00
|
2.18
|
|
|
|
|
incl.
|
227.00
|
231.00
|
4.00
|
6.79
|
|
|
|
|
|
237.50
|
238.00
|
0.50
|
0.01
|
|
|
|
|
|
241.50
|
242.00
|
0.50
|
0.05
|
|
|
|
|
|
348.50
|
349.00
|
0.50
|
0.17
|
|
|
|
|
|
367.50
|
368.00
|
0.50
|
0.01
|
AR-17-162c1
|
315
|
-68
|
442.50
|
96.80
|
145.00
|
147.50
|
2.50
|
0.02
|
|
|
|
|
|
156.00
|
162.50
|
6.50
|
0.77
|
|
|
|
|
incl.
|
159.50
|
160.00
|
0.50
|
7.52
|
|
|
|
|
|
178.50
|
179.00
|
0.50
|
0.05
|
|
|
|
|
|
198.50
|
200.00
|
1.50
|
0.16
|
|
|
|
|
|
253.50
|
256.50
|
3.00
|
0.42
|
AR-17-163c1
|
315
|
-68
|
438.00
|
96.15
|
162.50
|
163.00
|
0.50
|
0.04
|
|
|
|
|
|
224.50
|
226.00
|
1.50
|
0.02
|
|
|
|
|
|
236.00
|
238.50
|
2.50
|
0.01
|
|
|
|
|
|
241.00
|
263.50
|
22.50
|
1.07
|
|
|
|
|
incl.
|
256.40
|
260.30
|
3.90
|
5.56
|
|
|
|
|
|
270.50
|
272.50
|
2.00
|
0.27
|
|
|
|
|
|
277.50
|
278.00
|
0.50
|
0.03
|
|
|
|
|
|
290.50
|
291.50
|
1.00
|
0.02
|
|
|
|
|
|
304.50
|
305.50
|
1.00
|
0.02
|
|
|
|
|
|
364.00
|
364.50
|
0.50
|
0.03
|
|
|
|
|
|
376.50
|
377.50
|
1.00
|
0.01
|
|
|
|
|
|
390.00
|
390.50
|
0.50
|
0.01
|
AR-17-165c1
|
315
|
-80
|
249.00
|
91.40
|
108.50
|
109.00
|
0.50
|
0.01
|
|
|
|
|
|
116.00
|
118.00
|
2.00
|
0.37
|
AR-17-166c1
|
310
|
-70
|
303.00
|
N/A
|
182.00
|
202.50
|
20.50
|
1.19
|
|
|
|
|
incl.
|
191.50
|
195.00
|
3.50
|
6.21
|
|
|
|
|
|
212.50
|
237.00
|
24.50
|
1.46
|
|
|
|
|
incl.
|
221.00
|
226.00
|
5.00
|
4.21
|
|
|
|
|
incl.
|
229.50
|
233.50
|
4.00
|
3.33
|
AR-17-168c1
|
315
|
-68
|
471.00
|
N/A
|
284.00
|
284.50
|
0.50
|
0.02
|
|
|
|
|
|
315.00
|
316.50
|
1.50
|
0.11
|
|
|
|
|
|
342.00
|
342.50
|
0.50
|
0.02
|
AR-17-169c1
|
315
|
-68
|
345.00
|
N/A
|
134.50
|
144.00
|
9.50
|
0.37
|
|
|
|
|
incl.
|
140.00
|
141.50
|
1.50
|
2.11
|
|
|
|
|
|
152.00
|
153.50
|
1.50
|
0.74
|
|
|
|
|
|
221.00
|
221.50
|
0.50
|
0.02
|
AR-17-170c1
|
315
|
-68
|
420.00
|
N/A
|
242.00
|
258.50
|
16.50
|
0.22
|
|
|
|
|
incl.
|
250.50
|
252.00
|
1.50
|
1.40
|
|
|
|
|
|
261.00
|
263.50
|
2.50
|
0.02
|
|
|
|
|
|
273.50
|
274.50
|
1.00
|
0.04
|
|
|
|
|
|
278.50
|
279.00
|
0.50
|
0.01
|
|
|
|
|
|
281.50
|
286.50
|
5.00
|
0.02
|
AR-17-172c1
|
315
|
-68
|
423.00
|
N/A
|
193.00
|
198.00
|
5.00
|
0.06
|
|
|
|
|
|
201.00
|
202.00
|
1.00
|
0.03
|
|
|
|
|
|
223.50
|
225.00
|
1.50
|
0.03
|
|
|
|
|
|
227.50
|
239.50
|
12.00
|
0.18
|
|
|
|
|
incl.
|
230.50
|
233.50
|
3.00
|
0.62
|
|
|
|
|
|
323.00
|
327.00
|
4.00
|
0.02
|
|
|
|
|
|
330.00
|
335.50
|
5.50
|
0.01
|
|
|
|
|
|
360.50
|
362.50
|
2.00
|
0.02
|
AR-17-173c1
|
315
|
-68
|
336.00
|
N/A
|
No Significant Intersections
|
AR-17-174c1
|
315
|
-68
|
441.00
|
N/A
|
224.00
|
247.50
|
23.50
|
0.13
|
|
|
|
|
incl.
|
239.00
|
243.00
|
4.00
|
0.50
|
|
|
|
|
|
256.50
|
258.00
|
1.50
|
0.02
|
|
|
|
|
|
260.50
|
271.50
|
11.00
|
0.02
|
|
|
|
|
|
284.00
|
292.00
|
8.00
|
0.03
|
|
|
|
|
|
295.00
|
296.50
|
1.50
|
0.02
|
|
|
|
|
|
327.50
|
328.50
|
1.00
|
0.15
|
|
|
|
|
|
363.00
|
364.00
|
1.00
|
0.02
|
|
|
|
|
|
368.50
|
379.00
|
10.50
|
0.03
|
|
|
|
|
|
381.50
|
387.00
|
5.50
|
0.14
|
AR-17-174c2
|
315
|
-68
|
510.00
|
N/A
|
220.50
|
221.00
|
0.50
|
0.22
|
|
|
|
|
|
239.50
|
248.50
|
9.00
|
0.04
|
|
|
|
|
|
266.50
|
279.50
|
13.00
|
0.06
|
|
|
|
|
|
297.00
|
298.00
|
1.00
|
0.02
|
|
|
|
|
|
312.50
|
315.50
|
3.00
|
0.01
|
|
|
|
|
|
414.00
|
415.50
|
1.50
|
0.02
|
|
|
|
|
|
419.00
|
451.50
|
32.50
|
0.07
|
|
|
|
|
|
454.00
|
454.50
|
0.50
|
0.04
|
AR-17-175c1
|
315
|
-68
|
416.00
|
N/A
|
No Significant Intersections
|
AR-17-177c1
|
315
|
-68
|
390.00
|
92.70
|
138.00
|
139.50
|
1.50
|
0.02
|
|
|
|
|
|
189.00
|
195.50
|
6.50
|
0.05
|
|
|
|
|
|
225.00
|
225.50
|
0.50
|
0.03
|
|
|
|
|
|
310.00
|
310.50
|
0.50
|
0.02
|
AR-17-178c1
|
315
|
-68
|
381.00
|
N/A
|
149.00
|
160.00
|
11.00
|
2.17
|
|
|
|
|
incl.
|
150.50
|
154.00
|
3.50
|
6.73
|
|
|
|
|
|
196.00
|
197.00
|
1.00
|
0.07
|
|
|
|
|
|
241.00
|
242.00
|
1.00
|
0.02
|
|
|
|
|
|
315.50
|
319.00
|
3.50
|
0.06
|
AR-17-180c1
|
315
|
-68
|
384.00
|
91.10
|
247.50
|
251.50
|
4.00
|
0.02
|
|
|
|
|
|
276.50
|
278.00
|
1.50
|
0.03
|
AR-17-181c1
|
315
|
-68
|
576.00
|
N/A
|
370.00
|
374.00
|
4.00
|
0.03
|
|
|
|
|
|
512.50
|
514.00
|
1.50
|
0.02
|
|
|
|
|
|
520.50
|
526.50
|
6.00
|
0.08
|
AR-17-182c1
|
315
|
-68
|
349.00
|
N/A
|
129.00
|
131.50
|
2.50
|
0.01
|
|
|
|
|
|
134.50
|
135.50
|
1.00
|
0.07
|
|
|
|
|
|
194.50
|
195.00
|
0.50
|
0.02
|
|
|
|
|
|
257.00
|
262.50
|
5.50
|
0.04
|
|
|
|
|
|
273.50
|
274.50
|
1.00
|
0.03
|
AR-17-184c1
|
315
|
-68
|
360.00
|
N/A
|
133.50
|
145.00
|
11.50
|
0.29
|
|
|
|
|
incl.
|
137.50
|
139.50
|
2.00
|
1.37
|
AR-17-185c1
|
315
|
-80
|
424.00
|
N/A
|
257.00
|
259.50
|
2.50
|
0.04
|
Parameters:
1.
|
Maximum internal dilution 2.0 m downhole
|
2.
|
Minimum thickness of 0.5 m downhole
|
3.
|
Cutoff grade 0.01% U3O8
|
4.
|
All depths and intervals are metres downhole, true thicknesses are yet to
be determined.
|
5.
|
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 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 prospective uranium exploration assets in the Athabasca Basin,
Saskatchewan, Canada, including a 100% 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 South Arrow discovery in July 2017. The Arrow
deposit's updated mineral resource estimate with an effective date of December 20, 2016 was
released in March 2017, and comprised 179.5 M lbs U3O8 contained in
1.18 M tonnes grading 6.88% U3O8 in the Indicated Mineral Resource category and an additional
122.1 M lbs U3O8 contained in 4.25 M tonnes grading 1.30% U3O8 in the
Inferred Mineral Resource category.
Technical Information
Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation
Solutions Inc. RS-120 gamma-ray scintillometer. The reader is cautioned that total count gamma readings may not be directly or
uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the
presence of radioactive minerals.
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. For non-infill holes, samples were
analyzed using ICP-MS for trace elements on partial and total digestions (non-radioactive samples), ICP-OES for major and minor
elements on partial and total digestions (radioactive samples), and fusion solution of boron by ICP-OES. All mineralized samples
were analyzed for U3O8 by ICP-OES and selected samples were analyzed for gold by fire assay.
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 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 September 1, 2017 (the "Rook I
Technical Report") prepared by Jason J. Cox, David M. Robson,
Mark B. Mathisen, David A. Ross, Val
Coetzee and Mark Wittrup, 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.
U.S. investors are advised that while the terms "indicated resources" and "inferred resources" are recognized and required by
Canadian regulations, the U.S. Securities and Exchange Commission does not recognize these terms. U.S. investors are cautioned
not to assume that any part or all of the material in these categories will ever be converted into mineral reserves.
Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities,
events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always,
forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or
variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will
be taken", " occur " or "be achieved" or the negative connotation thereof.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and
forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements
are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of
planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that
financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and
governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable
terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner.
Although the assumptions made by the Company in providing forward looking information or making forward looking statements are
considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be
accurate
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which
may cause actual results, performances and achievements of NexGen to differ materially from any projections of results,
performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among
others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional
financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral
resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation
issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company's title to its
properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and
licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or
referred to in the Company's Annual Information Form dated March 31, 2017 under " Risk
Factors ".
Although the Company has attempted to identify important factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as required by applicable securities laws.
SOURCE NexGen Energy Ltd.
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