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NexGen Significantly Expands New High Grade Zone in A1 Shear and Drills Extensive Off-Scale Across A2 Shear
Vancouver, BC, July 13, 2016 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSXV:NXE, OTCQX:NXGEF) is pleased to announce further results from our recently completed spring drilling program on our 100% owned Rook I Property, Athabasca Basin, Saskatchewan. Eight drill holes have intersected extensive mineralization, and off-scale radioactivity (>10,000 to >61,000 cps) has been intersected in each of the A1, A2, A3 and A4 shears.
The new high grade zone within the A1 shear was initially discovered with drill hole AR-16-84c1 (8.35 m of off-scale radioactivity with assays pending - see News Release dated April 14, 2016), and has been significantly expanded towards the northeast with drill holes AR-16-91c3 and -91c4. Holes -91c3 and -91c4 were drilled 30 m up-dip and northeast and 25 m down-dip and northeast, respectively from hole -84c1. The A1 shear currently has a mineralized strike length of 360 m and remains largely untested.
Substantial high grade mineralization also continues to be encountered in the A2 shear. Drill holes AR-16- 84c4, -91c1, -91c3, -91c4 and -92c1 each intersected massive to semi-massive pitchblende mineralization and significant off-scale radioactivity with intervals at greater-than-61,000 cps.
Assay results remain pending for 30 holes, including intensely mineralized holes from the A2 Sub-Zone and the newly discovered area 180 m southwest of Arrow. Furthermore, six drill rigs are now fully operational at Rook I, with a seventh rig expected to start in mid-July.
Highlights:
A1 Shear:
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AR-16-91c3 (30 m up-dip and northeast from AR-16-84c1) intersected 49.5 m of total composite mineralization including 5.0 m of total composite off-scale radioactivity (>10,000 - 54,000 cps) within a 150.0 m section (575.0 to 725.0 m).
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AR-16-91c4 (25 m down-dip and northeast from AR-16-84c1) intersected 87.0 m of total composite mineralization including 4.1 m of total composite off-scale radioactivity (>10,000 - 29,000 cps) within a 133.0 m section (591.0 to 724.0 m).
A2 Shear:
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AR-16-91c4 (70 m up-dip and northeast from AR-15-44b) intersected 78.5 m of total composite mineralization including 9.65 m of total composite off-scale radioactivity (>10,000 - >61,000 cps) within a 150.0 m section (425.5 to 575.5 m).
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AR-16-92c1 (23 m down-dip and southwest from AR-15-44b) intersected 86.95 m of total composite mineralization including 9.5 m of total composite off-scale radioactivity (>10,000 - >61,000 cps) within a 111.5 m section (535.5 to 647.0 m).
Arrow, Activities & Financial
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The land-based and basement hosted Arrow Deposit currently covers an area of 870 m by 280 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in most directions and at depth.
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The summer 2016 program comprising 35,000 m of drilling is underway with six drill rigs active. A seventh drill rig will be put into service in mid-July.
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The Company has cash on hand of approximately $100 million.
A drill hole location map, the A1 long section and a close-up of the A2 long section are shown in Figures 1 to 3.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Drill holes AR-16-91c3 and - 91c4 in the A1 shear show excellent extensions of high grade mineralization to the northeast of hole -84c1, where there is over 300 m of existing strike length open to test. Additionally, mineralization has been encountered northwest of the A1 and southeast of the A4, which indicates excellent potential to discover additional mineralized shears laterally at the Arrow deposit. Drilling of the A2 high grade domain continues to return outstanding high grade intervals containing massive to semi-massive pitchblende."
Leigh Curyer, Chief Executive Officer commented: "Today's results indicate Arrow has substantial growth potential within each of the four shears as well as the A2 high grade domain. The team is looking forward to the summer program results as we define the current footprint of Arrow with infill and expansion drilling as well as drilling at the new area 180 m southwest of Arrow and along trend from Arrow where we see multiple high priority exploration targets."
Figure 1: Arrow Drill Hole Locations
Figure 2: A1 Mineralized Shear Long Section