NexGen Concludes Highly Successful Summer Development & Exploration Drilling


November 30, 2017

VANCOUVER, Nov. 30, 2017 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, NYSE MKT:NXE) is pleased to report radioactivity results for the final forty holes from South Arrow and Arrow as part of our now concluded summer drilling program on our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan.

Arrow Highlights:

Drilling at Arrow has intersected strong mineralization in multiple areas including step-out holes drilled in key mineral resource expansion areas in the southwest gap, northeast gap and within the A3 shear. The Arrow Deposit remains open in most directions.

A3 Step-Outs

  • AR-17-159c1 intersected 44.0 m of total composite mineralization including 13.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 90.0 m section (377.0 to 467.0 m) in the A3 shear.
  • AR-17-159c2 intersected 54.5 m of total composite mineralization including 11.8 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 101.0 m section (375.5 to 476.5 m) in the A3 shear.

 

A3 Infill

  • AR-17-164c1 intersected 47.5 m of total composite mineralization including 5.0 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 147.0 m section (497.5 to 644.5 m) in the A3 shear.

 

Northeast Gap Step-Out

  • AR-17-171c3 intersected 45.5 m of total composite mineralization including 1.45 m of total composite off-scale radioactivity (>10,000 to 23,000 cps) within a 183.0 m section (749.5 to 932.5 m) in the A1 and A2 shears. The hole is 250 m northeast and down-dip of the mineral resource domains.

 

Southwest Gap Step-Out

  • AR-17-161c2 intersected 30.0 m of total composite mineralization including 1.2 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 314.0 m section (626.5 to 940.5 m) in the A3 though A5 shears. The hole is 54 m southwest and down-dip of the mineral resource domains.

 

Drill hole locations and longsections are shown in Figures 1 to 4. Drill hole descriptions can be found on our website at www.nexgenenergy.ca

South Arrow Highlights:

Systematic drilling at the recently discovered South Arrow has intersected uranium mineralization at continued shallow depths. South Arrow is comprised of multiple, stacked mineralized horizons and high grade mineralization occurs as accumulations of semi-massive to massive pitchblende similar to the Arrow Deposit. South Arrow remains largely open and off-scale radioactivity has been intersected over a strike length of currently 290 m.

  • AR-17-178c1 intersected 7.5 m of total composite mineralization including 1.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 170.5 m section (149.0 to 319.5 m). The off-scale mineralized section begins just 142 m below surface.
  • AR-17-170c1 intersected 12.0 m of total composite mineralization including 0.5 m of total composite off-scale radioactivity (>10,000 to >26,000 cps) within a 15.0 m section (243.0 to 258.0 m).
  • AR-17-174c1 intersected 35.0 m of total composite mineralization including 0.15 m of total composite off-scale radioactivity (>10,000 to >26,600 cps) within a 161.5 m section (225.5 to 387.0 m).
  • AR-17-184c1 intersected 11.0 m of total composite mineralization including 0.5 m of total composite off-scale radioactivity (>10,000 to >21,000 cps) within an 11.0 m section (134.0 to 145.0 m).

 

Development, Activities & Financial:

  • The eight drill rig summer development and exploration program has concluded. The program consisted of 82 infill, expansion, exploration and geotechnical holes totaling 44,781 m of diamond drilling. Assays remain pending for all holes. An additional five shallow geotechnical holes were completed with a sonic drill rig to test surface and subsurface conditions for future site infrastructure.
  • Planning for the winter 2018 development and exploration program has begun in advance of the maiden Pre-Feasibility Study to be published Q3/2018.
  • The Company has cash on hand of approximately $170 million.

 

Garrett Ainsworth, Vice-President, Exploration and Development, commented: "The summer 2017 drill program objectives have been successfully achieved in balancing indicated resource growth in the A3 High Grade Domain while expanding inferred resource growth at Arrow. The added bonus of discovery and expansion of South Arrow suggests significant potential for resource growth within close proximity to the Arrow Deposit. A recently completed ground 3D resistivity survey over South Arrow focusing to the south west has highlighted the significant prospectivity of the Patterson Corridor along strike from Arrow and South Arrow which is yet to be tested."

Leigh Curyer, Chief Executive Officer, commented: "The 2017 program has continued to demonstrate Arrow's resource growth and incredible robustness with drilling inside and outside the 2016 grade shells. The results have provided valuable data with respect to future resource growth opportunities and potential mine development. With assay results pending, plans are well underway for an exciting 2018 targeting continued resource definition and expansion at Arrow and South Arrow, together with advanced development studies leading into the publication of a maiden Pre-Feasibility Study in Q3 2018."

 

Figure 1: South Arrow Mineralized Longsection (CNW Group/NexGen Energy Ltd.)

 

Figure 2: A3 Shear Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

 

Figure 3: Arrow Deposit Schematic Long Section (CNW Group/NexGen Energy Ltd.)

 

Figure 4: Arrow and South Arrow Drill Hole Locations (CNW Group/NexGen Energy Ltd.)

 

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca
Group -
Basement
Unconformity
Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From (m)

To (m)

Width (m)

CPS Range

AR-17-146c4

327

-70

978.5

110.4

678.00

678.50

0.50

<500 - 630

         

715.50

720.00

4.50

<500 - 6270

         

729.50

730.00

0.50

<500 - 575

         

736.50

741.00

4.50

<500 - 1800

         

759.00

760.00

1.00

<500 - 1300

         

778.00

778.50

0.50

<500 - 3800

         

793.00

796.00

3.00

<500 - 1450

         

822.00

824.00

2.00

<500 - 2300

         

831.00

834.50

3.50

<500 - 2610

         

837.00

838.00

1.00

<500 - 1250

         

908.00

908.50

0.50

<500 - 1600

         

914.50

915.00

0.50

<500 - 530

AR-17-154c3

327

-70

870.5

120.6

597.50

598.00

0.50

<500 - 600

         

652.00

653.50

1.50

<500 - 2850

         

701.50

704.50

3.00

<500 - 750

AR-17-154c4

327

-70

945.5

120.6

594.00

594.50

0.50

<500 - 1150

         

678.50

680.50

2.00

<500 - 5600

         

714.50

715.00

0.50

<500 - 800

         

717.50

721.50

4.00

<500 - 6800

         

724.50

725.00

0.50

800 - 1800

         

729.50

739.50

10.00

<500 - 5500

         

745.00

752.00

7.00

<500 - 2600

         

799.50

800.00

0.50

<500 - 1700

         

841.00

841.50

0.50

<500 - 620

         

865.00

869.00

4.00

<500 - 3100

         

889.50

890.00

0.50

<500 - 820

AR-17-155c3

327

-70

912.5

128.6

437.50

438.00

0.50

<500 - 970

         

466.50

468.00

1.50

<500 - 4050

         

471.00

472.00

1.00

<500 - 620

         

475.50

480.00

4.50

<500 - 8900

         

494.00

495.00

1.00

<500 - 7800

         

500.00

501.00

1.00

<500 - 3600

         

523.00

524.50

1.50

<500 - 2100

         

534.00

535.00

1.00

<500 - 4600

         

547.00

550.00

3.00

<500 - 10500

         

563.00

565.00

2.00

<500 - 8500

         

568.00

571.00

3.00

<500 - 1500

         

583.50

587.00

3.50

<500 - 2500

         

611.00

612.00

1.00

<500 - >61000

         

615.50

616.50

1.00

<500 - 41500

         

619.00

626.00

7.00

<500 - 59000

         

648.50

649.50

1.00

<500 - 510

         

658.00

658.50

0.50

<500 - 1530

         

661.00

662.50

1.50

<500 - 1310

         

665.50

676.00

10.50

<500 - 10100

         

681.50

685.50

4.00

<500 - 3100

         

689.50

695.50

6.00

<500 - 9680

         

701.00

702.50

1.50

500 - 30500

         

756.50

757.00

0.50

630 - 1400

         

760.00

762.00

2.00

<500 - 6300

         

819.50

820.50

1.00

<500 - 2500

         

825.50

827.50

2.00

<500 - 1100

         

831.50

833.00

1.50

<500 - 10100

AR-17-156c2

327

-70

858.5

N/A

650.00

651.00

1.00

<500 - 860

         

654.50

655.00

0.50

<500 - 3700

         

658.00

658.50

0.50

<500 - 610

         

679.50

680.00

0.50

<500 - 3000

         

685.00

686.50

1.50

<500 - 2200

         

710.00

710.50

0.50

<500 - 520

         

714.50

715.00

0.50

<500 - 2900

         

718.00

725.00

7.00

<500 - 15000

         

771.50

772.00

0.50

<500 - 650

         

813.50

815.00

1.50

<500 - 1250

AR-17-156c3

327

-70

903.5

N/A

703.00

703.50

0.50

<500 - 5600

         

720.50

721.00

0.50

<500 - 510

         

725.50

730.50

5.00

<500 - 10300

         

735.50

741.00

5.50

<500 - 5890

         

743.50

748.00

4.50

<500 - 7400

         

764.50

777.00

12.50

<500 - 24300

         

781.00

783.50

2.50

<500 - 4700

         

813.50

815.00

1.50

<500 - 3300

         

817.50

818.50

1.00

<500 - 1080

         

822.00

823.00

1.00

<500 - 1000

AR-17-156c4

327

-70

936.5

N/A

363.50

364.00

0.50

<500 - 600

         

659.00

660.00

1.00

<500 - 10300

         

680.00

680.50

0.50

<500 - 1600

         

692.50

693.00

0.50

<500 - 610

         

718.50

719.00

0.50

<500 - 3700

         

723.00

724.00

1.00

<500 - 10100

         

749.50

750.00

0.50

<500 - 650

         

757.50

758.50

1.00

<500 - 900

         

768.00

768.50

0.50

<500 - 860

         

773.50

779.00

5.50

<500 - >61000

         

783.50

784.50

1.00

<500 - 7300

         

788.50

790.00

1.50

<500 - 1100

         

794.00

796.00

2.00

<500 - 2500

         

800.50

802.00

1.50

<500 - 1820

         

809.00

810.50

1.50

<500 - 1630

         

813.50

814.00

0.50

<500 - 525

         

818.00

825.50

7.50

<500 - 2090

         

891.00

891.50

0.50

<500 - 520

AR-17-156c5

327

-70

789.5

N/A

669.50

671.50

2.00

<500 - 700

         

675.00

675.50

0.50

<500 - 580

         

683.00

683.50

0.50

<500 - 590

         

701.00

708.00

7.00

<500 - 1790

         

721.00

722.50

1.50

<500 - 2130

AR-17-159c1

327

-70

507.0

131.6

377.00

378.00

1.00

<500 - 700

         

381.00

381.50

0.50

<500 - 550

         

388.50

390.50

2.00

<500 - 2550

         

395.50

396.50

1.00

<500 - 7200

         

404.00

407.00

3.00

<500 - 15000

         

410.50

415.50

5.00

<500 - 50000

         

418.50

424.00

5.50

<500 - >61000

         

427.50

453.00

25.50

<500 - >61000

         

466.50

467.00

0.50

<500 - 530

AR-17-159c2

327

-70

546.0

131.6

375.50

376.00

0.50

<500 - 590

         

391.00

398.50

7.50

<500 - 2200

         

403.00

404.00

1.00

<500 - 1000

         

422.50

423.50

1.00

<500 - 41000

         

429.50

472.50

43.00

<500 - >61000

         

475.00

476.50

1.50

<500 - 1650

AR-17-161c1

327

-70

999.5

N/A

743.00

744.00

1.00

<500 - 1700

         

802.00

802.50

0.50

<500 - 1700

         

813.00

814.00

1.00

<500 - 800

         

822.50

823.00

0.50

<500 - 630

         

827.00

835.50

8.50

<500 - >61000

         

848.00

848.50

0.50

<500 - 730

         

853.50

854.00

0.50

<500 - 2200

         

860.00

860.50

0.50

<500 - 630

AR-17-161c2

327

-70

990.5

N/A

626.50

627.00

0.50

<500 - 3000

         

699.00

699.50

0.50

<500 - 700

         

703.00

704.50

1.50

<500 - 2200

         

712.00

713.00

1.00

<500 - 900

         

800.00

811.00

11.00

<500 - 5800

         

818.00

819.00

1.00

<500 - 3300

         

852.00

853.50

1.50

<500 - 1000

         

863.00

869.50

6.50

<500 - >61000

         

879.00

882.00

3.00

<500 - 27000

         

892.00

893.50

1.50

<500 - 1500

         

911.50

912.00

0.50

<500 - 700

         

939.00

940.50

1.50

<500 - 1100

AR-17-164c1

327

-70

942.5

126.6

130.00

130.50

0.50

<500 - 1000

         

424.50

425.00

0.50

<500 - 960

         

458.50

462.50

4.00

<500 - 1640

         

467.50

468.00

0.50

<500 - 1150

         

483.50

484.00

0.50

<500 - 510

         

487.00

488.50

1.50

<500 - 6330

         

497.50

500.50

3.00

<500 - 17000

         

505.00

513.50

8.50

<500 - 53000

         

519.50

528.00

8.50

<500 - >61000

         

534.50

535.00

0.50

630 - 16000

         

545.50

550.00

4.50

<500 - 54000

         

554.50

555.00

0.50

<500 - 820

         

581.50

584.50

3.00

<500 - 32000

         

587.00

588.00

1.00

<500 - 3000

         

592.00

593.00

1.00

<500 - 1000

         

601.50

603.50

2.00

<500 - 1500

         

626.00

629.00

3.00

<500 - 1000

         

632.50

644.50

12.00

<500 - 3400

         

654.00

654.50

0.50

<500 - 800

         

662.50

668.00

5.50

<500 - >61000

         

672.00

684.00

12.00

<500 - 4500

         

719.00

719.50

0.50

900 - 1800

         

745.00

746.00

1.00

<500 - 4700

         

773.50

777.00

3.50

<500 - 46000

         

808.50

810.00

1.50

<500 - 3300

         

823.00

823.50

0.50

<500 - 620

         

831.00

831.50

0.50

<500 - 580

         

841.00

841.50

0.50

<500 - 550

         

897.00

897.50

0.50

<500 - 610

AR-17-164c2

327

-70

654.5

126.6

426.50

427.00

0.50

<500 - 2000

         

451.50

452.00

0.50

<500 - 690

         

468.50

469.00

0.50

<500 - 560

         

485.50

487.00

1.50

<500 - 3850

         

503.00

503.50

0.50

500 - 15000

         

507.00

508.00

1.00

<500 - 11000

         

519.50

520.00

0.50

500 - 4500

         

532.50

533.00

0.50

<500 - 700

         

544.00

545.00

1.00

<500 - 18000

         

548.00

550.00

2.00

<500 - 12000

         

556.00

562.00

6.00

<500 - 47000

         

567.50

569.50

2.00

<500 - 20500

         

575.50

577.00

1.50

<500 - 15000

         

580.50

584.00

3.50

<500 - 18000

         

588.00

603.00

15.00

<500 - >61000

         

608.00

609.00

1.00

<500 - 1600

         

614.50

615.00

0.50

<500 - 530

         

631.00

635.00

4.00

<500 - 2700

         

640.50

643.00

2.50

<500 - 1280

         

646.50

649.50

3.00

<500 - 1600

         

652.50

653.00

0.50

<500 - 740

AR-17-164c3

327

-70

549.5

126.6

445.50

448.00

2.50

<500 - 5500

         

456.50

457.00

0.50

700 - 3600

         

459.50

460.00

0.50

1200 - 9100

         

463.50

471.50

8.00

<500 - 6000

         

478.00

480.00

2.00

<500 - 4700

         

485.00

486.50

1.50

<500 - 2300

         

503.50

512.50

9.00

<500 - >61000

         

520.00

524.50

4.50

<500 - 2420

AR-17-167c1

327

-70

837.5

124.0

481.50

485.00

3.50

<500 - 1500

         

487.50

495.50

8.00

<500 - >61000

         

530.00

534.00

4.00

<500 - 830

         

539.50

541.00

1.50

<500 - 750

         

544.50

545.00

0.50

<500 - 515

         

551.00

554.50

3.50

<500 - 2200

         

558.50

559.00

0.50

<500 - 640

         

566.50

582.50

16.00

<500 - 7800

         

589.50

590.00

0.50

<500 - 1300

         

593.00

595.50

2.50

<500 - 5800

         

600.50

601.00

0.50

<500 - 1800

         

627.00

630.50

3.50

<500 - 14000

         

637.00

637.50

0.50

<500 - 540

         

654.00

654.50

0.50

<500 - 1000

         

660.50

663.50

3.00

<500 - 2300

         

676.00

679.00

3.00

<500 - 2600

         

682.00

682.50

0.50

<500 - 540

         

732.50

733.00

0.50

<500 - 1600

         

780.00

785.00

5.00

<500 - 2900

AR-17-167c2

327

-70

723.5

124.0

460.00

460.50

0.50

<500 - 14000

         

467.00

470.50

3.50

<500 - 54500

         

483.50

484.00

0.50

<500 - 600

         

533.50

534.00

0.50

<500 - 660

         

538.00

540.50

2.50

<500 - 700

         

548.50

549.00

0.50

<500 - 550

         

553.00

554.00

1.00

<500 - 1200

         

559.50

563.00

3.50

<500 - 3900

         

573.50

574.00

0.50

<500 - 750

         

580.50

581.00

0.50

<500 - 510

         

615.00

618.00

3.00

<500 - >61000

         

635.00

636.00

1.00

<500 - 9100

         

639.00

640.00

1.00

<500 - 2580

AR-17-167c3

327

-70

727.5

124.0

435.00

435.50

0.50

<500 - 550

         

441.50

444.50

3.00

550 - 7800

         

511.00

511.50

0.50

<500 - 505

         

519.50

520.00

0.50

<500 - 700

         

534.00

535.50

1.50

<500 - 5200

         

572.50

573.00

0.50

<500 - 1200

         

576.00

577.00

1.00

<500 - 900

         

693.00

693.50

0.50

<500 - 2100

AR-17-171c1

327

-70

920.0

119.3

714.00

715.50

1.50

<500 - 2300

         

719.00

719.50

0.50

<500 - 1200

         

727.00

728.00

1.00

<500 - 510

         

733.50

736.00

2.50

<500 - 1500

         

743.00

756.00

13.00

<500 - 12000

         

769.50

772.00

2.50

<500 - 6100

         

790.00

791.50

1.50

<500 - 11000

         

813.50

814.00

0.50

<500 - 550

         

856.00

859.50

3.50

<500 - 1500

         

863.00

864.50

1.50

<500 - 790

AR-17-171c2

327

-70

921.5

119.3

649.50

651.00

1.50

<500 - 1400

         

655.00

655.50

0.50

<500 - 720

         

708.50

716.00

7.50

<500 - 14800

         

718.50

719.00

0.50

<500 - 2200

         

734.00

734.50

0.50

<500 - 2500

         

740.00

743.00

3.00

<500 - 1460

         

746.50

756.50

10.00

<500 - 6800

         

760.00

764.00

4.00

<500 - 1100

         

767.00

768.50

1.50

<500 - 940

         

781.50

782.00

0.50

510 - 1350

         

805.00

805.50

0.50

<500 - 2200

         

808.50

812.50

4.00

<500 - 4800

         

821.00

823.50

2.50

<500 - 4600

         

842.00

843.00

1.00

<500 - 8600

         

893.50

894.00

0.50

<500 - 520

AR-17-171c3

327

-70

978.5

119.3

749.50

750.50

1.00

<500 - 1570

         

753.50

754.00

0.50

<500 - 630

         

766.00

769.00

3.00

<500 - 8000

         

776.50

777.00

0.50

<500 - 920

         

780.00

782.50

2.50

<500 - 3380

         

786.00

787.00

1.00

<500 - 6250

         

792.00

799.00

7.00

<500 - 3100

         

802.50

803.00

0.50

<500 - 610

         

817.50

823.00

5.50

<500 - 6100

         

826.50

827.00

0.50

<500 - 1400

         

829.50

830.00

0.50

<500 - 1010

         

897.00

902.00

5.00

<500 - 32700

         

906.50

923.50

17.00

<500 - 11200

         

927.50

928.00

0.50

<500 - 850

         

932.00

932.50

0.50

<500 - 730

AR-17-176c1

327

-70

540.0

125.1

301.50

302.00

0.50

<500 - 510

         

481.00

481.50

0.50

<500 - 1300

         

484.50

485.00

0.50

<500 - 970

         

489.50

491.00

1.50

<500 - 2200

         

506.00

506.50

0.50

<500 - 600

AR-17-176c2

327

-70

870.5

125.1

444.00

448.00

4.00

<500 - 23000

         

504.00

508.00

4.00

<500 - 6400

         

514.00

515.50

1.50

<500 - 17000

         

607.50

608.00

0.50

<500 - 1000

         

618.00

627.50

9.50

<500 - 28800

         

630.50

631.00

0.50

<500 - 510

         

649.50

664.50

15.00

<500 - >61000

         

671.00

673.00

2.00

<500 - 920

         

675.50

688.00

12.50

<500 - 61000

         

692.00

701.00

9.00

<500 - 53600

         

705.50

707.50

2.00

<500 - 600

         

711.00

717.50

6.50

<500 - 16400

         

758.50

759.00

0.50

<500 - 2670

         

784.00

787.00

3.00

<500 - 890

         

812.50

815.00

2.50

<500 - 3780

AR-17-179c1

327

-68

639.5

130.5

457.50

459.00

1.50

<500 - 610

         

468.00

468.50

0.50

<500 - 660

         

494.50

495.00

0.50

<500 - 14300

         

501.50

503.50

2.00

<500 - 42500

         

507.50

508.00

0.50

<500 - 1900

         

511.00

511.50

0.50

<500 - 1100

         

526.00

536.00

10.00

<500 - 45000

         

540.00

540.50

0.50

<500 - 2900

         

543.00

543.50

0.50

<500 - 1550

         

546.00

547.00

1.00

<500 - 12000

         

551.00

554.00

3.00

<500 - 31000

         

556.50

559.50

3.00

<500 - 6200

         

564.50

565.00

0.50

<500 - 2160

         

569.50

572.50

3.00

<500 - 40000

         

579.00

582.00

3.00

<500 - 1480

         

589.00

591.50

2.50

<500 - 3100

         

596.50

598.00

1.50

<500 - 1200

         

600.50

601.50

1.00

<500 - 1100

         

604.50

606.50

2.00

<500 - 1000

         

610.00

612.50

2.50

<500 - 1500

         

616.00

617.00

1.00

<500 - 1670

AR-17-183c1

327

-68

630.5

139.6

479.50

482.00

2.50

<500 - 12000

         

489.00

489.50

0.50

<500 - 50000

         

500.00

501.00

1.00

<500 - >61000

         

512.00

512.50

0.50

<500 - 1800

         

516.00

516.50

0.50

3000 - >61000

         

523.50

524.00

0.50

<500 - 720

         

529.00

530.00

1.00

1000 - 48500

         

534.00

534.50

0.50

<500 - 5030

         

547.00

547.50

0.50

<500 - 3500

         

552.00

552.50

0.50

<500 - >61000

         

558.50

578.00

19.50

<500 - 20000

GAR-17-002

327

-70

884.5

124.7

210.00

211.00

1.00

<500 - 620

         

464.00

465.00

1.00

<500 - 2400

         

495.00

496.50

1.50

<500 - 18500

         

519.50

520.50

1.00

<500 - 15000

         

524.00

525.00

1.00

<500 - 7100

         

530.00

531.50

1.50

<500 - 3600

         

543.50

545.50

2.00

<500 - 6100

         

550.50

551.50

1.00

550 - 8100

         

555.00

558.50

3.50

<500 - 15000

         

561.00

561.50

0.50

<500 - 1700

         

572.00

572.50

0.50

<500 - 875

         

589.00

596.50

7.50

<500 - 33000

         

599.00

601.50

2.50

<500 - 1600

         

604.00

605.50

1.50

<500 - 2060

         

612.50

619.00

6.50

<500 - 3500

         

623.00

625.00

2.00

<500 - 4300

         

631.00

634.50

3.50

<500 - 2500

         

646.50

648.50

2.00

<500 - 750

         

651.50

657.00

5.50

<500 - 1600

         

663.50

664.50

1.00

<500 - 1100

         

667.50

669.50

2.00

<500 - >61000

         

672.50

686.00

13.50

<500 - 25000

         

691.00

698.50

7.50

<500 - >61000

         

749.00

750.00

1.00

<500 - 27000

         

769.00

771.00

2.00

<500 - 42000

         

796.00

801.00

5.00

<500 - 3400

         

812.00

812.50

0.50

<500 - 2600

         

822.00

822.50

0.50

<500 - 860

         

827.00

830.00

3.00

<500 - 5000

         

839.00

839.50

0.50

<500 - 1200

GAR-17-005

80

-70

752.4

109.8

488.00

488.50

0.50

<500 - 650

         

650.00

650.50

0.50

<500 - 1100

         

657.50

659.50

2.00

<500 - 1300

         

670.50

671.00

0.50

<500 - 610

         

681.00

684.50

3.50

<500 - 2200

         

704.50

705.00

0.50

<500 - 570

 

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined
  • "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • Where "Min cps" is <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

 

Table 2: South Arrow Drill Hole Data

Drill Hole

Athabasca
Group -
Basement
Unconformity
Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From (m)

To (m)

Width (m)

CPS Range

AR-17-170c1

315

-68

420.0

N/A

243.00

252.00

9.00

<500 - 26000

         

255.00

258.00

3.00

<500 - 2680

AR-17-172c1

315

-68

423.0

N/A

193.50

197.00

3.50

<500 - 1270

         

201.00

201.50

0.50

<500 - 910

         

227.50

235.50

8.00

<500 - 12700

         

324.00

325.00

1.00

<500 - 920

AR-17-173c1

315

-68

336.0

N/A

No Anomalous Radioactivity

AR-17-174c1

315

-68

441.0

N/A

225.50

228.50

3.00

<500 - 1340

         

232.50

246.50

14.00

<500 - 26600

         

256.50

257.00

0.50

<500 - 540

         

261.50

267.50

6.00

<500 - 1350

         

284.00

285.00

1.00

<500 - 1100

         

295.00

295.50

0.50

<500 - 520

         

327.50

328.50

1.00

<500 - 1470

         

363.00

364.00

1.00

<500 - 550

         

370.50

373.00

2.50

<500 - 810

         

381.50

387.00

5.50

<500 - 5390

AR-17-174c2

315

-68

510.0

N/A

220.50

221.00

0.50

<500 - 3400

         

242.50

244.50

2.00

<500 - 1100

         

269.00

273.50

4.50

<500 - 3450

         

276.00

277.50

1.50

<500 - 1400

         

420.50

421.50

1.00

<500 - 1500

         

429.00

451.50

22.50

<500 - 3500

         

454.00

454.50

0.50

<500 - 530

AR-17-175c1

315

-68

416.0

N/A

No Anomalous Radioactivity

AR-17-177c1

315

-68

390.0

92.7

192.00

195.50

3.50

<500 - 3350

AR-17-178c1

315

-68

381.0

N/A

149.00

154.00

5.00

<500 - >61000

         

156.50

157.00

0.50

<500 - 860

         

196.00

197.00

1.00

<500 - 1400

         

316.50

317.50

1.00

<500 - 2000

AR-17-180c1

315

-68

384.0

91.1

247.50

248.00

0.50

<500 - 520

AR-17-181c1

315

-68

576.0

N/A

372.00

372.50

0.50

570 - 815

         

512.50

513.00

0.50

<500 - 520

         

520.50

526.00

5.50

<500 - 1400

AR-17-182c1

315

-68

349.0

N/A

130.50

131.50

1.00

<500 - 575

         

134.50

135.50

1.00

<500 - 1300

         

259.50

261.50

2.00

<500 - 1300

         

273.50

274.00

0.50

<500 - 600

AR-17-184c1

315

-68

360.0

N/A

134.00

145.00

11.00

<500 - 21000

AR-17-185c1

315

-80

424.0

N/A

258.00

258.50

0.50

<500 - 1200

 

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined
  • "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • Where "Min cps" is <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 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 Arrow South 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 will be taken systematically, and intervals will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples sent to SRC will be 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 are analyzed for U3O8 by ICP-OES and select samples for gold by fire assay. Assay results will be released when received and after stringent internal QA/QC protocols are passed.

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 1 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.