NexGen Drills Off-Scale in all Six New Holes within the 210 m step out from AR-15-44b and Expands Summer Program to 30,000 m


August 26, 2015

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VANCOUVER, Aug. 26, 2015 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to announce radioactivity results from our on-going summer 2015 drilling program on our 100% owned Rook I property, Athabasca Basin, Saskatchewan. Additionally, the Company announces it has expanded the summer program by 5,000 m to 30,000 m in order to drill test the newly discovered 210 meter southwest extension of Arrow for inclusion in a maiden NI 43-101 resource estimate in first half 2016.

All six drill holes reported from the Arrow zone in this news release have returned significant visible mineralization and off-scale radioactivity. Importantly, step-out drilling in AR-15-54c1 has intersected substantial high grade mineralization in the A2 shear. Furthermore, step-out drilling in AR-15-56c1 has intersected widespread high grade mineralization in the A3 shear. The Arrow zone remains open in all directions and the Company's focus for the remainder of the summer season is defining the extensions of high-grade mineralization in both shear zones.

Highlights:

Arrow “ A2 and A3 Extensions

  • AR-15-54c1 (87 m step-out up-dip and southwest from AR-15-44b) intersected 68.5 m of total composite mineralization including 10.35 m of off-scale radioactivity (>10,000 to >61,000 cps) within a 302.5 m section (437.5 to 740.0 m) marked by significant concentrations of massive pitchblende in the A2 shear.
  • AR-15-56c1 (81 m step-out up-dip and southwest from AR-15-44b) intersected 125.0 m of total composite mineralization including 10.95 m of off-scale radioactivity (>10,000 to >61,000 cps) within a 385.5 m section (550.0 to 935.5 m) highlighted by extensive and locally strong pitchblende mineralization in the A3 shear.
  • AR-15-54c2 (105 m step-out up-plunge southwest from AR-15-44b) intersected 114.0 m of total composite mineralization including 5.85 m off-scale radioactivity (>10,000 to 53,000) within a 307.0 m section (521.0 to 828.0 m) highlighted by extensive and locally strong pitchblende mineralization in the A3 shear.
  • AR-15-53c3 (155 m step-out down-dip from AR-15-44b) intersected 59.0 m of total composite mineralization including 5.5 m of off-scale radioactivity (>10,000 to >61,000 cps) within a 342.5 m section (549.5 to 892.0 m) marked by local concentrations of massive pitchblende in the A2 shear.

Arrow “ A2 and A3 Core Delineation

  • AR-15-53c2 (91 m below AR-15-44b) intersected 61.5 m of total composite mineralization including 6.55 m of off-scale radioactivity (>10,000 to >61,000 cps) within a 215.5 m section (439.5 to 655.0 m) marked by local concentrations of massive pitchblende in the A2 shear.
  • The Arrow zone now covers an area of 645 x 215 m with a vertical extent of mineralization commencing from 100 to 920 m, and it remains open in all directions and at depth. Mineralization is hosted entirely in the basement (a 90 second 3D video of Arrow generated from Leapfrog is available for viewing on the Company website).
  • Due to the step out success, the drill program has been expanded to 30,000 m with all five rigs now focused on Arrow in order to incorporate the 210 m extension to the southwest from AR-15-44b into an initial resource estimate scheduled for the first half of 2016.

Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented: "These latest results from our Arrow zone continue to impress us with four of the six reported drill holes encountering >61,000 cps radioactivity associated with dense accumulations of massive pitchblende. Of note, hole AR-15-54c1 drilled at a dip of -62° through the sub-vertical A2 high grade core zone, and returned 42 m of mineralization including 9.4 m of off-scale in the A2 shear demonstrating the high grade cores within Arrow continue to prove up well."

Leigh Curyer, Chief Executive Officer commented: "The expansion of the summer drilling program to 30,000 m is a function of the successful discovery of broad zones of mineralization 50, 100 and 210 m southwest from AR-15-44b. Additional drilling is now required to include this new southwest extension in our maiden resource estimate which we anticipate within the first half of 2016. Also, the Rook I camp infrastructure is undergoing significant expansion in order to accommodate the expanded program, including additional core storage and personnel. This is a very exciting time for the team and our shareholders."

Drill hole locations, and the A2 and A3 long sections are shown in Figures 1 to 3, and Table 1 has a summary of the mineralized intervals.

Table 1: Arrow Zone 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-15-53c2

141

-77

684.00

114.00

439.50

442.00

2.50

<500 - 1200

         

549.00

549.50

0.50

<500 - 900

         

563.50

567.50

4.00

<500 - 1550

         

570.50

572.50

2.00

<500 - 560

         

578.00

610.00

32.00

<500 - >61000

         

613.50

614.00

0.50

<500 - 4100

         

616.50

619.00

2.50

<500 - 7200

         

623.00

628.00

5.00

<500 - 2800

         

642.50

655.00

12.50

<500 - 4200

AR-15-53c3

141

-77

936.00

114.00

549.50

550.00

0.50

<500 - 560

         

555.00

556.00

1.00

<500 - 680

         

588.50

589.00

0.50

<500 - 680

         

619.50

636.00

16.50

<500 - > 61000

         

639.00

640.50

1.50

<500 - 3700

         

644.00

645.00

1.00

<500 - 1750

         

651.00

657.00

6.00

<500 - >61000

         

663.50

664.00

0.50

500 - 5500

         

676.50

685.50

9.00

<500 - 27500

         

772.00

774.50

2.50

<500 - 1700

         

777.50

778.50

1.00

<500 - 560

         

781.00

782.00

1.00

<500 - 4300

         

794.00

795.00

1.00

<500 - 1500

         

797.50

803.00

5.50

<500 - 2450

         

806.50

810.00

3.50

<500 - 13000

         

814.00

815.50

1.50

<500 - 2500

         

818.50

824.00

5.50

<500 - 9400

         

891.00

892.00

1.00

<500 - 570

AR-15-54c1

140

-76

816.00

109.00

437.50

438.00

0.50

<500 - 600

         

470.50

484.50

14.00

<500 - 19000

         

489.00

489.50

0.50

<500 - 590

         

493.00

514.50

21.50

<500 - >61000

         

522.00

528.00

6.00

<500 - 700

         

615.00

622.50

7.50

<500 - 2500

         

625.00

626.00

1.00

<500 - 1100

         

629.00

636.50

7.50

<500 - 7000

         

639.50

640.00

0.50

500 - 2400

         

685.50

688.00

2.50

<500 - 1100

         

692.00

692.50

0.50

<500 - 13000

         

701.50

702.00

0.50

<500 - 1000

         

704.50

708.00

3.50

<500 - 7200

         

737.50

740.00

2.50

<500 - 33000

AR-15-54c2

140

-76

891.00

109.00

521.00

525.50

4.50

<500 - 3800

         

531.50

542.00

10.50

<500 - 20000

         

545.00

548.00

3.00

<500 - 800

         

557.50

559.00

1.50

<500 - 35000

         

564.00

565.50

1.50

<500 - 3400

         

592.50

599.00

6.50

<500 - 5300

         

602.50

603.00

0.50

<500 - 600

         

617.00

619.00

2.00

<500 - 2800

         

621.50

622.50

1.00

<500 - 1200

         

629.00

633.00

4.00

<500 - 46000

         

637.50

642.00

4.50

<500 - 3800

         

648.50

649.50

1.00

<500 - 550

         

655.00

664.00

9.00

<500 - 21000

         

670.50

685.50

15.00

<500 - 53000

         

688.00

698.00

10.00

<500 - 30000

         

700.50

708.50

8.00

<500 - 25000

         

718.00

720.00

2.00

<500 - 1800

         

725.00

725.50

0.50

<500 - 800

         

738.50

739.50

1.00

<500 - 3300

         

747.50

763.50

16.00

<500 - 6800

         

767.50

768.00

0.50

<500 - 1000

         

793.00

794.00

1.00

<500 - 800

         

801.50

802.00

0.50

<500 - 550

         

805.50

806.00

0.50

700 - 1800

         

810.50

817.50

7.00

<500 - 4000

         

825.50

828.00

2.50

<500 - 3500

AR-15-55

140

-75

924.00

103.60

550.00

552.00

2.00

<500 - 1700

         

556.50

557.00

0.50

<500 - 560

         

582.50

584.50

2.00

<500 - 12400

         

607.00

610.00

3.00

<500 - 6100

         

670.50

671.00

0.50

<500 - 550

AR-15-56c1

139

-76.5

996.00

110.40

550.00

551.50

1.50

<500 - 1500

         

555.00

558.00

3.00

<500 - 3000

         

560.50

569.00

8.50

<500 - 2500

         

580.50

588.00

7.50

<500 - 10000

         

594.00

598.50

4.50

<500 - 24000

         

602.50

605.00

2.50

<500 - 2000

         

619.00

619.50

0.50

<500 - 700

         

624.50

635.50

11.00

<500 - 16000

         

638.00

640.50

2.50

<500 - 2300

         

649.50

651.00

1.50

<500 - 6400

         

654.50

660.50

6.00

<500 - >61000

         

663.50

664.50

1.00

<500 - 3000

         

667.50

668.50

1.00

<500 - 9700

         

685.50

686.00

0.50

<500 - 520

         

721.50

728.00

6.50

<500 - >61000

         

748.50

752.00

3.50

<500 - 1800

         

755.00

756.00

1.00

<500 - 1000

         

761.00

761.50

0.50

<500 - 600

         

764.50

765.00

0.50

<500 - 800

         

770.50

779.00

8.50

<500 - 2600

         

781.50

794.50

13.00

<500 - 53000

         

797.00

797.50

0.50

<500 - 650

         

801.50

806.00

4.50

<500 - 1400

         

810.00

811.00

1.00

<500 - 2100

         

847.00

848.00

1.00

<500 - 1300

         

851.50

861.50

10.00

<500 - 34000

         

864.50

871.50

7.00

<500 - 15000

         

874.00

879.00

5.00

<500 - 12000

         

886.00

889.50

3.50

<500 - 6500

         

895.00

901.00

6.00

<500 - 21000

         

909.50

910.50

1.00

<500 - 1400

         

935.00

935.50

0.50

<500 - 1800

 

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are meters downhole
  • "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

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. All intersections are downhole. Core interval measurements and true thicknesses are yet to be determined.

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 the partial and total digestions, ICP-OES for major and minor elements on the 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.

ARROW ZONE DRILLING

AR-15-53c2

Hole AR-15-53c2 was a directional drill hole that departed from pilot hole AR-15-53c1 at a depth of 339.0 m. It tested the A2 shear 32 m up-dip from AR-15-39w1 (1.85% U3O8 over 26.0 m in the A2 shear). Directional drilling was initiated at 424.0 m and A2 shear was intersected at an inclination of -73°.

Since this hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of mylonite (the A2 shear). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 shear that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 61.5 m including 6.55 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 215.5 m section (439.5 to 655.0 m). The hole was terminated immediately after the A2 shear at 684.0 m.

AR-15-53c3

Hole AR-15-53c3 was a directional hole that departed from pilot hole AR-15-53c2 at a depth of 425.0 m. It tested the A2 shear 33 m down-dip from AR-15-39 (2.82% U3O8 over 27.0 m in the A2 shear) and the A3 shear 42 m down-dip from AR-15-39 (2.27% U3O8 over 29.0 m in the A3 shear). Directional drilling was initiated at 472 m. The A2 and A3 shears were intersected at inclinations of -81° and -71°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 59.0 m including 5.50 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 342.5 m section (549.5 to 892.0 m). In the A2 shear, 35.0 m of composite mineralization including 5.3 m of off-scale radioactivity was intersected. In the A3 shear, 11.5 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. The hole was terminated at 936.0 m and represents a 33 m step-out on the A2 shear.

AR-15-54c1

Hole AR-15-54c1 was a directional drill hole collared at an angled orientation (-76° dip) to the southeast (140° azimuth). It tested the A2 shear 57 m up-dip and southwest from AR-15-48c3 (12.45 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 65 m southwest from AR-15-48c1 (7.8 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 247 m. The A2 and A3 shears were intersected at dips of -62° and -61°, respectively.

The hole intersected bleached and locally heavily desilicified Athabasca Group sandstones between 96.0 m and the unconformity at 109.0 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. Mineralization was particularly intense in the A2 shear. A total composite mineralization of 68.5 m including 10.35 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 302.5 m section (437.5 to 740.0 m). In the A2 shear, 42.0 m of composite mineralization including 9.4 m of off-scale radioactivity was intersected. In the A3 shear, 26.0 m of composite mineralization including 0.95 m of off-scale radioactivity was intersected. The hole was terminated at 816.0 m. It represents a 57 m step-out on the A2 shear and a 65 m step-out on the A3 shear.

AR-15-54c2

Hole AR-15-54c2 was a directional hole that departed from pilot hole AR-15-54c1 at a depth of 234 m. It tested the A2 shear 57 m down-plunge from AR-15-48c3 (12.45 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 30 m up-plunge from AR-15-51 (6.45 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 355 m. The A2 and A3 shears were both intersected at inclinations -67°.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 114.0 m including 5.85 m of off-scale radioactivity (>10,000 to 53,000 cps) was intersected within a 307.0 m section (521.0 to 828.0 m). In the A2 shear, 35.0 m of composite mineralization including 1.25 m of off-scale radioactivity was intersected. In the A3 shear, 73.0 m of composite mineralization including 4.6 m of off-scale radioactivity was intersected. The hole was terminated at 891.0m. It represents a 57 m step-out on the A2 shear and a 30 m step-out on the A3 shear.

AR-15-55

Hole AR-15-55 was drilled at an angled orientation (-75° dip) to the southeast (140° azimuth). It was designed to test the A2 shear as a 45 m down-plunge step-out from AR-15-52 (1.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear as a 60 m down-plunge step-out from AR-15-52 (2.95 m of off-scale radioactivity in the A3 shear; assays pending).

The hole intersected bleached Athabasca Group sandstones between 92.0 m and the unconformity at 103.6 m. Basement lithologies consisted largely of semi-pelitic gneiss to granofel, granodiorite and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected weakly to locally strongly anomalous radioactivity on the A2 shear that was associated with fracture controlled and disseminated pitchblende mineralization. A total composite mineralization of 8.0 m including 0.2 m of off-scale radioactivity (>10,000 to 12,400 cps) was intersected within a 121.0 m section (550.0 to 671.0 m) before the hole was terminated at 924 m.

AR-15-56c1

Hole AR-15-56c1 was a directional hole collared at an angled orientation (-76.5° dip) to the southeast (139° azimuth). It tested the A2 shear 42 m down-plunge from AR-15-38 (0.90% U3O8 over 32.0 m in the A2 shear) and the A3 shear 51 m up-dip and southwest from AR-15-39w1 (0.72% U3O8 over 36.0 m in the A3 shear). Directional drilling was initiated at 277 m. The A2 and A3 shears were both intersected at inclinations of -74°.

The hole intersected bleached and locally heavily desilicified Athabasca Group sandstones between 97.8 m and the unconformity at 110.4 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 and A3 shears that was associated with semi-massive to massive veins, worm rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 125.0 m including 10.95 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 385.5 m section (550.0 to 935.5 m). In the A2 shear, 49.0 m of composite mineralization including 2.6 m of off-scale radioactivity was intersected. In the A3 shear, 73.0 m of composite mineralization including 8.35 m of off-scale radioactivity was intersected. The hole was terminated at 996.0 m and represents 42 m step-out on the A2 shear and a 51 m step-out on the A3 shear.

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 world class uranium deposits and in developing projects through discovery to production.

NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Discovery in February 2014 and Bow Discovery in March 2015.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of NexGen Energy Ltd., by Garrett Ainsworth, P.Geo., Vice President “ Exploration & Development, a qualified person.

Leigh Curyer,
Chief Executive Officer
NexGen Energy Ltd.

+1 604 428 4112
lcuryer@nexgenenergy.ca
www.nexgenenergy.ca

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.

Forward-Looking Information

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 "will" and planned" and similar expressions. Forward-looking information is based on the then current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Such information is not a guarantee of future performance and undue reliance should not be placed on forward-looking information. Assumptions and factors underlying the Company's expectations regarding forward-looking information contained herein include, among others: that general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed on reasonable terms; that the Company's current exploration activities can be achieved and that its other corporate activities will proceed as expected; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner.

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.

SOURCE NexGen Energy Ltd.

Image with caption: "Figure 1: Arrow Zone Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150826_C8798_PHOTO_EN_484107.jpg

Image with caption: "Figure 2: A2 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150826_C8798_PHOTO_EN_484109.jpg

Image with caption: "Figure 3: A3 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150826_C8798_PHOTO_EN_484111.jpg

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