NexGen Makes Significant New Discoveries of Near Arrow Mineralization Northwest and Along Strike in Winter Drill Campaign

VANCOUVER, May 2, 2018 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, NYSE MKT:NXE) is pleased to report radioactivity results for fifty-four holes comprising 30,208 m from Arrow, South Arrow and regional exploration as part of our now concluded winter drilling program on our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan.

Highlights:

Discovery of A0 Shear

Follow up drilling to the northwest of the Arrow deposit (where hole GAR-17-001 recently discovered mineralization that returned 8.0 m at 1.43% U3O8) has successfully confirmed mineralization in a new shear named the "A0 Shear".

  • AR-18-187c3 intersected 33.0 m of total composite mineralization including 0.3 m of total composite off-scale radioactivity (>10,000 to 17,000 cps) within a 67.5 m section (535.5 to 603.0 m) in the A0 shear.

 

New Mineralization Intersected 160 m Northwest of the AO Shear

Furthermore, the last hole of the 2018 winter program intersected off-scale mineralization 160 m northwest of the A0 shear. This new area of mineralization has yet to be defined, meaning the northwest remains completely open and untested for the future expansion of the Arrow Deposit.

  • AR-18-208c1 intersected 10.5 m of total composite mineralization including 0.2 m of total composite off-scale radioactivity (>10,000 to 32,800 cps) within a 182.5 m section (562.0 to 744.5 m) northwest of the A0 shear zone.

 

Mineralization Intersected to the Northeast of the A1 and A2 Shears

Drilling focused to the northeast of the Arrow Deposit, testing 50 m along strike from known mineralization at varying elevations intersected significant mineralization within the A1 and A2 shears. The systematic step-outs to the northeast show that Arrow remains largely open and untested at these elevations in the A1 and A2 shears.

  • AR-18-189c4 intersected 40.0 m of total composite mineralization including 3.9 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 54.0 m section (820.0 to 874.0 m) in the A1 and A2 shears. The hole successfully expanded both the A1 and A2 shear zones to the northeast of existing A1 and A2 inferred resource grade shells.

 

A2 Shear Expansion

  • AR-18-186c1 intersected 28.5 m of total composite mineralization including 5.3 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 45.0 m section (507.5 to 552.5 m) in the A2 shear. The hole successfully expanded the thickness of the A2 shear zone to the northeast of the current A2 Inferred resource grade shells.
     
  • AR-18-200c2 intersected 36.0 m of total composite mineralization including 5.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 43.0 m section (739 to 782.0 m) in the A2 shear. The hole expanded the thickness of the A2 shear zone, down-dip from the existing A2 high-grade domain.

 

A3 Shear Infill

Positive infill drill results from the A3 high-grade domains continued, where the objective was to convert Inferred to Indicated Mineral Resources, where the Indicated Mineral Resources only will be incorporated into the Pre-Feasibility Study scheduled for Q3/2018 release.

  • AR-18-202c1 intersected 40.0 m of total composite mineralization including 4.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 119.5 m section (477.5 to 597.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.
     
  • AR-18-186c2 intersected 55.0 m of total composite mineralization including 3.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 123.0 m section (393.0 to 516.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.
     
  • AR-18-197c3 intersected 40.0 m of total composite mineralization including 3.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 116.5 m section (595.0 to 711.5 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.

 

Regional Exploration

South Arrow

Expansion drilling intersected mineralization including off-scale radioactivity which was 175 m southwest of the main zone of mineralization at South Arrow. The target area remains prospective for future exploration and expansion.

  • AR-18-199c1 intersected 9.5 m of total composite mineralization including 0.1 m of total composite off-scale radioactivity (>10,000 to 13,500 cps) within a 32.5 m section (345.5 to 378.0 m).

 

Patterson Conductor Corridor

Regional drilling on the Patterson Corridor focused on two high priority target areas, which included Mirror and the Arrow VTEM Conductor. The Mirror target area is located 1.5 km southeast of the Arrow Deposit along a parallel conductor. The drill holes in the area successfully intersected the targeted VTEM conductor but did not encounter significant uranium mineralization. The Arrow Conductor is situated approximately 2.5 km southwest and along strike from the Arrow Deposit, hosted within the same VTEM conductor. Arrow-type silicified semi-pelitic gneiss was intersected throughout in all of the 6 holes drilled in the area. Moderate to intense sericitic alteration, similar to Arrow-type alteration found proximal to the Arrow deposit was intersected in several of the drill holes.

Drill hole locations and long sections are shown in Figures 1 to 4. Drill hole descriptions can be found at https://www.nexgenenergy.ca/news/index.php?content_id=345

Development, Activities & Financial

  • The Arrow Deposit remains open in most directions, with high potential for future high-grade discoveries in close proximity to existing mineral resources.
     
  • Pre-feasibility staged technical studies including geotechnical work, hydrogeological work, and metallurgy continue in advance of the updated Mineral Resource Estimate and maiden Pre-Feasibility Study scheduled for the end of Q3 / early Q4 2018.
     
  • The Company has cash on hand of approximately ~$150 million.

 

Troy Boisjoli, Vice-President, Operations and Project Development, commented: "The four winter 2018 drill program objectives were successfully reached. Two significant exploration initiatives resulted in the discovery of an A0 shear zone, and secondly testing 160 m northwest of the A0 shear has also intersected intense mineralization within another, yet to be defined zone which remains open. Additionally, expansion of Mineral Resources within the A1 and A2 shear zones from the AR-18-189 series holes demonstrate Arrow remains open on strike. The continued success of resource expansion and near Arrow exploration drilling, from my experience, indicates the absolute scale of the Arrow Deposit will not be fully realized without significantly more drilling and ultimately, not until underground. Furthermore, the infill drilling highlights the robustness of the Arrow Mineral Resource model and has maximized available Indicated Mineral Resources for the purpose of the maiden Pre-Feasibility Study. Regional exploration testing along strike from the Arrow Deposit successfully intersected prospective, Arrow-type alteration and lithological packages which highlights the potential for future discoveries along the Patterson Lake Corridor. The team is looking forward to testing the new A0 shear, northwest of the A0, northeast of the A1 and A2 and to the southwest of Arrow during summer 2018. "

Leigh Curyer, Chief Executive Officer, commented: "The targeted winter drill campaign focused on converting Inferred to Indicated, expanding the overall footprint in previously untested areas and understanding future growth potential of Arrow. All of these were successfully achieved and with the discovery of the A0, intense mineralization 160m to the northwest of the A0, and to the northeast of the A1 and A2 shears, suggests substantial drilling is required to determine the ultimate extent of Arrow. Troy and his team are already in planning for a summer 2018 exploration and development program."

Figure 1: Arrow and South Arrow Drill Hole Locations (CNW Group/NexGen Energy Ltd.)

Figure 2: A1 Shear Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

Figure 3: A2 Shear Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

Figure 4: A3 Shear Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

Table 1: 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-18-186c1

330

-68

840.50

132.00

389.00

392.00

3.00

<500 - 33000

         

405.50

406.00

0.50

<500 - 1020

         

412.50

413.50

1.00

<500 - 8000

         

417.00

426.50

9.50

<500 - 9000

         

430.00

441.50

11.50

<500 - 61000

         

446.00

446.50

0.50

<500 - 850

         

454.00

462.50

8.50

<500 - 3800

         

467.50

469.00

1.50

<500 - 1480

         

507.50

514.50

7.00

<500 - 1450

         

531.00

552.50

21.50

<500 - 61000

         

582.50

583.00

0.50

<500 - 860

         

585.50

586.00

0.50

<500 - 600

         

590.00

597.50

7.50

<500 - 61000

         

666.00

666.50

0.50

<500 - 680

         

745.00

746.50

1.50

<500 - 1900

AR-18-186c2

330

-68

561.50

N/A

393.00

394.50

1.50

<500 - 1700

         

406.00

407.00

1.00

<500 - 2300

         

411.00

411.50

0.50

<500 - 2740

         

432.00

435.50

3.50

<500 - 12000

         

442.50

445.00

2.50

<500 - 61000

         

448.00

452.50

4.50

<500 - 16000

         

455.50

476.00

20.50

<500 - 61000

         

479.50

482.50

3.00

<500 - 1720

         

487.50

488.00

0.50

<500 - 520

         

492.00

505.00

13.00

<500 - 4700

         

507.50

508.50

1.00

<500 - 2300

         

512.50

516.00

3.50

<500 - 1800

         

550.00

554.00

4.00

<500 - 1250

AR-18-187c1

327

-70

657.50

117.00

237.50

238.00

0.50

<500 - 9400

         

276.50

308.00

31.50

<500 - 5800

         

316.00

320.50

4.50

<500 - 2710

         

325.50

326.00

0.50

<500 - 505

         

333.00

333.50

0.50

830 - 2690

         

350.00

350.50

0.50

<500 - 1730

         

402.50

406.50

4.00

<500 - 850

         

421.00

423.50

2.50

<500 - 1500

         

437.00

444.00

7.00

<500 - 1490

         

478.50

481.50

3.00

<500 - 1100

         

521.00

523.50

2.50

<500 - 26000

AR-18-187c2

327

-70

930.50

N/A

281.00

283.50

2.50

<500 - 930

         

301.50

328.50

27.00

<500 - 5230

         

331.00

331.50

0.50

750 - 1000

         

335.50

343.00

7.50

<500 - 1160

         

346.50

347.00

0.50

<500 - 710

         

356.50

357.00

0.50

<500 - 600

         

394.50

395.00

0.50

<500 - 900

         

398.50

399.00

0.50

<500 - 540

         

405.50

411.00

5.50

<500 - 1100

         

414.00

431.00

17.00

<500 - 61000

         

455.50

456.00

0.50

<500 - 520

         

487.00

495.00

8.00

<500 - 1270

         

892.50

893.50

1.00

<500 - 780

AR-18-187c3

327

-70

914.50

N/A

280.50

282.00

1.50

<500 - 700

         

288.00

302.00

14.00

<500 - 6580

         

309.00

315.50

6.50

<500 - 3400

         

330.00

347.50

17.50

<500 - 3400

         

350.50

352.50

2.00

<500 - 1210

         

359.50

360.50

1.00

<500 - 720

         

408.50

413.00

4.50

<500 - 1200

         

426.00

428.50

2.50

<500 - 880

         

535.50

536.50

1.00

<500 - 690

         

547.00

548.50

1.50

<500 - 17000

         

552.50

557.00

4.50

<500 - 3590

         

559.50

560.50

1.00

<500 - 710

         

563.50

580.00

16.50

<500 - 2040

         

583.50

585.50

2.00

<500 - 1260

         

596.50

603.00

6.50

<500 - 9800

AR-18-187c4

327

-70

918.50

N/A

283.00

330.50

47.50

<500 - 33000

         

339.50

340.00

0.50

<500 - 550

         

401.00

404.50

3.50

<500 - 3000

         

407.50

408.00

0.50

<500 - 720

         

412.50

417.00

4.50

<500 - 19500

         

419.50

427.00

7.50

<500 - 27000

         

448.50

453.00

4.50

<500 - 2800

         

460.00

460.50

0.50

<500 - 540

         

675.50

677.50

2.00

<500 - 1600

AR-18-188c1

327

-70

519.00

125.65

420.00

420.50

0.50

<500 - 630

         

432.00

432.50

0.50

<500 - 680

         

477.50

478.00

0.50

<500 - 550

         

483.50

489.00

5.50

<500 - 1800

AR-18-188c2

327

-70

582.00

N/A

428.00

428.50

0.50

<500 - 620

         

432.50

434.00

1.50

<500 - 1050

         

486.50

487.00

0.50

<500 - 725

         

493.00

495.00

2.00

<500 - 15400

         

500.00

501.50

1.50

<500 - 40000

         

505.50

507.00

1.50

<500 - 61000

AR-18-188c3

327

-70

597.00

N/A

440.00

440.50

0.50

<500 - 760

         

443.50

444.50

1.00

<500 - 760

         

495.50

496.00

0.50

<500 - 510

         

506.50

512.00

5.50

<500 - 2100

         

517.00

519.00

2.00

<500 - 9600

         

521.50

527.00

5.50

<500 - 7800

         

558.50

559.00

0.50

<500 - 560

AR-18-189c1

327

-70

984.50

128.00

704.00

705.00

1.00

<500 - 1100

         

855.00

859.00

4.00

<500 - 2258

         

867.00

871.00

4.00

<500 - 8200

         

884.50

885.50

1.00

<500 - 1400

AR-18-189c2

327

-70

1056.50

N/A

No Anomalous Radioactivity

AR-18-189c3

327

-70

972.50

N/A

828.50

836.50

8.00

<500 - 4700

         

843.50

848.00

4.50

<500 - 2200

         

850.50

855.00

4.50

<500 - 2400

         

862.50

873.00

10.50

<500 - 5600

         

879.50

885.00

5.50

<500 - 35000

AR-18-189c4

327

-70

930.50

N/A

820.00

826.00

6.00

<500 - 61000

         

832.00

852.50

20.50

<500 - 61000

         

855.50

868.50

13.00

<500 - 18500

         

873.50

874.00

0.50

<500 - 600

AR-18-189c5

327

-70

915.50

N/A

424.50

425.00

0.50

<500 - 1240

         

798.50

802.50

4.00

<500 - 24400

         

807.00

808.50

1.50

<500 - 2000

         

812.50

813.00

0.50

<500 - 840

         

816.50

819.50

3.00

<500 - 950

         

829.50

832.50

3.00

<500 - 8000

         

836.00

842.00

6.00

<500 - 6800

AR-18-195c1

327

-70

519.50

N/A

395.50

396.00

0.50

<500 - 600

         

406.50

407.00

0.50

<500 - 1010

         

409.50

410.50

1.00

<500 - 3700

         

414.00

415.00

1.00

<500 - 39000

         

428.50

432.00

3.50

<500 - 61000

         

436.00

465.00

29.00

<500 - 61000

AR-18-195c2

327

-70

543.50

N/A

405.00

406.00

1.00

<500 - 3000

         

409.00

409.50

0.50

<500 - 630

         

415.50

416.00

0.50

<500 - 20000

         

420.00

421.00

1.00

<500 - 4500

         

431.00

433.00

2.00

<500 - 61000

         

441.50

442.00

0.50

<500 - 4800

         

446.00

451.00

5.00

<500 - 22000

         

457.00

460.50

3.50

<500 - 33000

         

463.00

463.50

0.50

<500 - 1700

         

467.00

469.50

2.50

<500 - 16000

         

472.50

486.00

13.50

<500 - 61000

AR-18-195c3

327

-70

501.50

N/A

387.00

395.50

8.50

<500 - 3200

         

398.00

405.00

7.00

<500 - 8000

         

430.00

433.00

3.00

<500 - 1060

         

436.00

437.00

1.00

<500 - 1100

AR-18-197c1

327

-70

630.50

N/A

522.50

523.00

0.50

<500 - 580

         

563.00

564.50

1.50

<500 - 28000

         

575.50

576.50

1.00

<500 - 60000

         

582.00

582.50

0.50

<500 - 2050

         

587.00

591.50

4.50

<500 - 2550

         

595.50

596.50

1.00

<500 - 1300

         

606.50

608.50

2.00

<500 - 1400

         

612.50

618.50

6.00

<500 - 2200

         

623.00

627.00

4.00

<500 - 830

         

630.00

630.50

0.50

<500 - 1450

AR-18-197c2

327

-70

813.50

N/A

585.00

585.50

0.50

500 - 20500

         

594.50

598.00

3.50

<500 - 5800

         

610.50

620.50

10.00

<500 - 61000

         

624.00

629.50

5.50

<500 - 2800

         

690.00

696.50

6.50

<500 - 2700

         

703.50

704.00

0.50

<500 - 700

         

719.00

719.50

0.50

<500 - 1150

         

753.00

753.50

0.50

<500 - 550

         

765.50

769.50

4.00

<500 - 13200

AR-18-197c3

327

-70

723.50

N/A

549.00

549.50

0.50

<500 - 570

         

586.00

586.50

0.50

<500 - 7200

         

589.50

590.50

1.00

<500 - 5800

         

595.00

596.00

1.00

500 - 61000

         

620.00

621.00

1.00

<500 - 61000

         

630.50

631.00

0.50

<500 - 780

         

634.50

635.00

0.50

<500 - 3200

         

638.00

655.50

17.50

<500 - 61000

         

659.00

661.50

2.50

<500 - 7100

         

666.50

669.00

2.50

<500 - 2550

         

673.00

674.00

1.00

<500 - 1360

         

676.50

687.50

11.00

<500 - 1630

         

703.00

703.50

0.50

<500 - 1000

         

707.00

708.50

1.50

<500 - 1800

         

711.00

711.50

0.50

<500 - 530

AR-18-197c4

327

-70

858.50

N/A

607.00

608.50

1.50

<500 - 61000

         

616.00

616.50

0.50

<500 - 7600

         

632.50

634.00

1.50

<500 - 61000

         

641.00

643.00

2.00

<500 - 11500

         

645.50

646.50

1.00

<500 - 8450

         

658.50

660.50

2.00

<500 - 1000

         

664.00

665.00

1.00

<500 - 1400

         

667.50

668.00

0.50

<500 - 790

         

674.50

688.50

14.00

<500 - 61000

         

697.50

698.00

0.50

<500 - 505

         

744.50

745.00

0.50

<500 - 590

         

759.00

760.00

1.00

<500 - 2100

         

784.50

786.50

2.00

<500 - 16600

         

789.50

790.50

1.00

<500 - 2600

         

827.00

832.00

5.00

<500 - 13000

         

835.50

838.00

2.50

<500 - 4100

AR-18-200c1

327

-70

885.50

121.20

489.50

492.50

3.00

<500 - 1900

         

530.50

531.50

1.00

<500 - 6200

         

536.00

537.00

1.00

<500 - 3600

         

606.50

607.00

0.50

<500 - 6500

         

627.50

629.00

1.50

<500 - 16000

         

634.50

635.00

0.50

<500 - 1600

         

645.50

646.00

0.50

<500 - 2000

         

651.00

651.50

0.50

<500 - 27000

         

659.00

671.00

12.00

<500 - 5000

         

674.00

689.50

15.50

<500 - 4700

         

705.50

710.50

5.00

<500 - 3250

         

714.00

716.00

2.00

<500 - 2950

         

728.50

729.00

0.50

<500 - 1290

         

737.50

740.50

3.00

<500 - 3200

         

745.50

759.50

14.00

<500 - 61000

         

763.50

774.00

10.50

<500 - 24000

AR-18-200c2

327

-70

900.00

N/A

531.00

532.00

1.00

<500 - 1100

         

536.00

536.50

0.50

<500 - 810

         

644.50

647.50

3.00

<500 - 21000

         

653.00

653.50

0.50

<500 - 12800

         

672.50

692.00

19.50

<500 - 3200

         

702.00

703.50

1.50

<500 - 13000

         

721.50

736.50

15.00

<500 - 5360

         

739.00

769.50

30.50

<500 - 61000

         

772.00

774.00

2.00

<500 - 1010

         

779.00

782.00

3.00

<500 - 2300

         

835.00

835.50

0.50

<500 - 690

AR-18-200c3

327

-70

882.50

N/A

618.50

619.00

0.50

<500 - 4400

         

645.00

645.50

0.50

<500 - 11000

         

648.50

649.00

0.50

<500 - 2250

         

653.00

653.50

0.50

<500 - 1100

         

664.00

664.50

0.50

<500 - 530

         

667.00

671.00

4.00

<500 - 4300

         

673.50

675.50

2.00

<500 - 1890

         

679.00

683.50

4.50

<500 - 15000

         

693.50

699.50

6.00

<500 - 2500

         

715.00

726.00

11.00

<500 - 1380

         

730.50

746.50

16.00

<500 - 2400

         

758.00

759.50

1.50

<500 - 61000

         

765.50

770.50

5.00

<500 - 7300

         

810.00

810.50

0.50

<500 - 650

AR-18-200c4

327

-70

870.50

N/A

503.00

503.50

0.50

<500 - 940

         

514.50

515.00

0.50

<500 - 1210

         

521.50

522.00

0.50

<500 - 8750

         

611.50

616.50

5.00

<500 - 23000

         

628.50

631.50

3.00

<500 - 5600

         

634.50

639.00

4.50

<500 - 21000

         

644.00

644.50

0.50

<500 - 750

         

649.50

651.50

2.00

<500 - 2220

         

654.50

656.50

2.00

<500 - 2020

         

678.00

682.00

4.00

<500 - 3200

         

724.00

744.00

20.00

<500 - 54000

         

749.50

761.00

11.50

<500 - 60000

         

766.00

767.50

1.50

<500 - 3000

         

773.00

777.00

4.00

<500 - 7100

         

781.00

788.50

7.50

<500 - 4990

         

791.50

792.00

0.50

<500 - 820

         

796.00

799.00

3.00

<500 - 12100

AR-18-202c1

327

-70

600.50

N/A

451.00

452.00

1.00

<500 - 1850

         

461.50

465.00

3.50

<500 - 7750

         

473.50

474.50

1.00

<500 - 720

         

477.50

483.00

5.50

<500 - 30000

         

485.50

486.50

1.00

<500 - 2100

         

495.50

509.50

14.00

<500 - 61000

         

512.00

523.50

11.50

<500 - 61000

         

528.00

529.00

1.00

<500 - 6000

         

532.00

536.00

4.00

<500 - 61000

         

541.00

541.50

0.50

<500 - 15000

         

550.00

550.50

0.50

<500 - 1100

         

565.00

566.50

1.50

<500 - 800

         

596.50

597.00

0.50

<500 - 550

AR-18-202c2

327

-70

621.50

N/A

368.50

369.50

1.00

<500 - 1300

         

455.50

456.00

0.50

<500 - 620

         

461.50

468.00

6.50

<500 - 5600

         

478.50

479.50

1.00

<500 - 1200

         

483.50

484.50

1.00

<500 - 24000

         

494.50

495.00

0.50

<500 - 630

         

504.00

509.50

5.50

<500 - 16000

         

516.50

517.00

0.50

<500 - 2500

         

522.00

524.50

2.50

<500 - 39000

         

528.00

530.00

2.00

<500 - 32000

         

532.50

533.00

0.50

<500 - 740

         

543.50

544.50

1.00

<500 - 2800

         

549.00

552.00

3.00

<500 - 10800

         

571.50

576.50

5.00

<500 - 61000

         

580.00

581.00

1.00

<500 - 1700

         

593.50

595.00

1.50

<500 - 1300

         

604.50

616.50

12.00

<500 - 7800

AR-18-205c1

355

-70

571.00

103.15

No Anomalous Radioactivity

AR-18-206c1

327

-68

777.50

103.95

501.50

504.00

2.50

<500 - 1000

         

553.50

557.50

4.00

<500 - 14000

         

575.50

576.00

0.50

<500 - 1300

         

584.00

585.50

1.50

<500 - 16000

         

634.50

635.00

0.50

1000 - 61000

         

640.00

640.50

0.50

<500 - 600

         

649.00

657.50

8.50

<500 - 29000

         

671.50

676.50

5.00

<500 - 34000

         

681.00

690.00

9.00

<500 - 42000

         

694.50

695.00

0.50

<500 - 1750

         

697.50

700.00

2.50

<500 - 4900

         

712.50

717.50

5.00

<500 - 890

         

726.00

726.50

0.50

<500 - 2350

         

732.00

732.50

0.50

<500 - 1150

         

738.00

738.50

0.50

<500 - 530

         

742.00

745.50

3.50

<500 - 5300

         

751.00

751.50

0.50

<500 - 500

         

761.50

771.00

9.50

<500 - 5200

AR-18-207c1

327

-68

1083.50

123.40

573.00

575.50

2.50

<500 - 4000

         

580.50

581.00

0.50

<500 - 1900

         

712.00

712.50

0.50

<500 - 7500

AR-18-208c1

327

-68

802.70

108.15

198.50

199.00

0.50

<500 - 1050

         

562.00

562.50

0.50

<500 - 1350

         

598.00

598.50

0.50

<500 - 1170

         

637.50

638.00

0.50

<500 - 8900

         

662.00

662.50

0.50

<500 - 600

         

686.00

688.50

2.50

<500 - 32800

         

717.50

722.50

5.00

<500 - 1020

         

743.50

744.50

1.00

<500 - 660

AR-18-209c1

327

-68

762.50

115.60

500.50

507.00

6.50

<500 - 1730

         

709.00

709.50

0.50

<500 - 580

 

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-18-190c1

315

-68

348.00

N/A

No Anomalous Radioactivity

AR-18-191c1

315

-70

375.00

N/A

No Anomalous Radioactivity

AR-18-192c1

315

-68

429.00

N/A

300.50

301.00

0.50

<500 - 550

         

304.00

305.00

1.00

<500 - 970

AR-18-193c1

315

-70

657.50

N/A

No Anomalous Radioactivity

AR-18-194c1

315

-68

555.50

N/A

356.50

357.00

0.50

<500 - 2800

         

375.50

376.00

0.50

<500 - 505

         

457.50

458.00

0.50

<500 - 570

         

470.00

470.50

0.50

<500 - 550

         

478.00

479.00

1.00

<500 - 850

AR-18-196c1

315

-67

615.50

N/A

No Anomalous Radioactivity

AR-18-198c1

315

-68

543.00

N/A

338.50

339.50

1.00

<500 - 1200

         

367.50

368.00

0.50

<500 - 600

         

456.00

458.00

2.00

<500 - 2200

         

460.50

465.00

4.50

<500 - 3300

         

468.50

469.00

0.50

<500 - 505

AR-18-199c1

315

-68

567.00

N/A

345.50

347.50

2.00

<500 - 850

         

350.50

351.00

0.50

<500 - 620

         

359.50

360.00

0.50

<500 - 580

         

374.50

378.00

3.50

<500 - 13500

AR-18-199c2

315

-68

486.00

N/A

402.00

402.50

0.50

<500 - 700

AR-18-201c1

315

-66

444.00

N/A

252.00

252.50

0.50

<500 - 630

AR-18-203c1

315

-66

510.50

N/A

253.50

254.00

0.50

<500 - 790

AR-18-204c1

315

-66

524.00

N/A

No Anomalous Radioactivity

 

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 3: Regional Exploration 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

RK-18-120

140

-70

615.50

N/A

No Anomalous Radioactivity

RK-18-121

340

-70

609.00

N/A

No Anomalous Radioactivity

RK-18-122

320

-70

651.50

N/A

No Anomalous Radioactivity

RK-18-123

340

-70

561.50

N/A

No Anomalous Radioactivity

RK-18-124

340

-67

504.50

N/A

No Anomalous Radioactivity

*RK-18-125

320

-66

496.00

N/A

290.00

291.50

1.50

<500 - 4300

         

321.00

323.00

2.00

<500 - 2700

RK-18-126

327

-66

532.50

N/A

No Anomalous Radioactivity

RK-18-127

345

-66

423.50

N/A

No Anomalous Radioactivity

RK-18-128

320

-66

407.00

N/A

No Anomalous Radioactivity

RK-18-129

325

-66

399.00

N/A

No Anomalous Radioactivity

 

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
  • *Mineralization listed in RK-18-125 was determined via a RS-125 Spectrometer to be of a Thorium source.

 

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. Troy Boisjoli, Geoscientist Licensee, Vice President - Operations & Project Development for NexGen. Mr. Boisjoli 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.

NexGen Energy Ltd. (CNW Group/NexGen Energy Ltd.)

SOURCE NexGen Energy Ltd.