NexGen Commences 3,000m Drill Program at Rook I Project, Immediately Adjacent to Patterson Lake South Discovery
August 16, 2013
NexGen Energy Ltd. (TSX.V:NXE) ("NexGen" or the "Company") is pleased to announce that it has commenced a two drill, 3,000 meter program on the Rook I project. The Rook I project is immediately adjacent to, and on trend, northeast from Fission/Alpha's recent high-grade uranium discoveries on their Patterson Lake South project.
Detailed geophysical surveys of the Rook I project have included aerial VTEM and magnetics, and ground gravity. A recent DC resistivity survey was conducted over the area of the property that is continuous with the Patterson Lake conductors. The results of the resistivity survey have refined previous targets, and introduced new target areas.
The drilling program will be testing priority target areas defined by overlapping geophysical anomalies (see figure 1). One drill will be dedicated to target area A, testing the northeast extension of the Patterson Lake South conductor trend. A second helicopter-supported drill rig will be testing target areas A through D. Drilling is expected to continue through to late September depending on weather conditions.
Figure 1: Rook I Project -- Principal Target Areas
Depth to the basement is estimated at 65 to 100 metres below Quaternary overburden. Geophysical surveys have identified a number of coincident east-west, northeast, and northwest linears interpreted as structural zones, plus favourable basement lithological assemblages.
Leigh Curyer, NexGen's CEO commented "This is another very exciting milestone for the Company. The Rook I Project hosts a number of highly prospective targets identified by NexGen's recently competed geophysical surveys. The work done to date is a real credit to our geological team, whom identified Rook I prior to the PLS discovery. The results of the various geophysical surveys completed since acquisition have only increased our pre-existing confidence with respect to the prospectivity of Rook I. NexGen will drill these targets areas until the weather closes in, expected late September."
Andrew Browne, FAusIMM(CP), NexGen's Vice President, Exploration & Development, is a "qualified person" for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and has reviewed and approved the contents of this news release.
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 exploration professionals with a track record in the discovery of unconformity-style uranium deposits in Canada.
NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including, an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit and a 100% interest in Rook 1, immediately adjacent to the north east of Patterson Lake South.
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, but not always, forward looking information is identifiable by the use of words such as "expects", "anticipates", "believes", "projects", "plans", "intends" and other similar words, or statements that an event "may", "will", "should", "could", or "might" occur or be achieved and other similar expressions. Examples of such forward-looking information include, among others, statements regarding: completion of the Offering; satisfaction of conditions to the closing of the Offering, including approval of the TSXV; the expected closing date of the Offering; the anticipated use of the proceeds of the Offering; and plans of the Company to explore its Canadian mining projects.
Although the assumptions made by the Company in providing forward looking information are considered reasonable by management at the time the forward-looking information is given, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information also involves known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information, including, among others: risks related to the availability of financing on commercially reasonable terms and the expected use of the proceeds; changes in the market; potential downturns in economic conditions; industry conditions; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results of exploration; future prices of metal; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks; changes in laws and regulations; community relations; and delays in obtaining governmental or other approvals or financing. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. NexGen 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. The reader is cautioned not to place undue reliance on forward-looking information.