NexGen identifies additional geophysical anomaly targets at Arrow Discovery Zone
April 29, 2014
- Completion of detailed ground gravity survey over the Arrow Discovery Zone
- Interpretation of the new data shows an increase in the gravity low intensity and of the areal extent of the main targeted geophysical anomaly over the Arrow Discovery Zone
- Newly identified additional geophysical anomalies are now evident to the NE and SW along the conductor strike substantially increasing the previously interpreted potential strike length of Arrow
- Summer program of >13,000 meters of diamond drilling (3 rigs) scheduled to commence mid-May 2014
VANCOUVER, April 29, 2014 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to announce the completion of a detailed ground gravity survey over the Arrow Discovery, Rook I South-West Athabasca Basin, Saskatchewan, extending the potential alteration system both adjacent to current drilling and along strike. The recent detailed survey has tightened the grid station spacing to 50 x 50 meters from an original 200 x 50 meter grid. (see Figures 1 & 2)
The closely-spaced gravity grid at Arrow consisted of 585 additional gravity stations which were collected in the final weeks of the winter drilling campaign. Data acquisition was performed by MWH Geo-Surveys Ltd. of Vernon, BC, and final interpretation was completed by KOCH Geophysical Consultants of Saskatoon, Saskatchewan.
This recently completed ground gravity survey over Arrow will further assist in refining previously identified drilling targets along strike from the known mineralization intersected to date. The interpreted data will be invaluable in planning follow-up drill targeting for the upcoming summer drilling program.
Andrew Browne, Vice President Exploration & Development commented "the original ground gravity geophysical data that assisted in identification of the Arrow target area was based on wider spaced stations. This new tighter spaced gravity data coupled with our recent drilling results has enhanced our understanding of the Arrow project and increased the area of interest for targeting substantial basement mineralization."
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 a 100% interest in Rook 1, location of the Arrow Discovery, immediately adjacent to the north east of Patterson Lake South, and an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit.
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 "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: Original Ground Gravity Data (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140429_C5579_PHOTO_EN_39739.jpg
Image with caption: "Figure 2: Recent Detailed Ground Gravity Data (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140429_C5579_PHOTO_EN_39740.jpg