August 7, 2019 - 6:30 AM EDT
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NexGen Completes Phase I of Feasibility-Stage Drill Program Intersecting High Grade Mineralization and Preliminarily Assessed Robust Geotechnical and Hydrogeological Conditions in all Areas of Arrow

Canada NewsWire

VANCOUVER, Aug. 7, 2019 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity results for an additional thirty-seven holes comprising 16,585.5 m from the Company's Feasibility-stage drilling program at our 100% owned, Rook I property in the Athabasca Basin Saskatchewan. The Phase I resource component of the 2019 Feasibility stage program has completed 117 holes totaling 50,968 m.  Utilizing new directional drilling technology, AziDrill, the Company was able to reduce the metres required for Phase I conversion by 28% due to the ability to target mineralization more accurately with deeper directional cuts from the pilot hole.

Further, an additional 14 holes of 6,314.4 m were completed designed to geotechnically and hydrogeologically characterize the rock mass within areas of the proposed mine workings and the Underground Tailings Management Facility ("UGTMF").

In total, the 2019 Phase I winter drilling program comprised 131 completed holes totaling 57,282.4 m.

Phase I: Conversion of Indicated to Measured Mineral Resources

This current phase of the 2019 drilling program targeted the A2 and A3 High-Grade Domains for conversion of Indicated to Measured Mineral Resources within the proposed mine plan at a drill hole spacing of between 9.0 m and 16.7 m (based on a geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions). All drill holes were collared at a steep inclination, then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional drilling technology.  The results below highlight intersections through each of the A2 and A3 High Grade Domains, respectively. 

A2 High-Grade Domain Highlights

  • AR-19-265c2 intersected 53.5 m of total composite mineralization including 9.80 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 109.0 m section (497.5 to 605.5 m). Additionally, of the 9.80 m of off-scale mineralization intersected in the hole 2.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-259c1 intersected 26.5 m of total composite mineralization including 8.40 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 96.0 m section (549.0 to 645.0 m). Additionally, of the 8.40 m of off-scale mineralization intersected in the hole 1.00 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-253c1 intersected 41.0 m of total composite mineralization including 5.20 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 80.0 m section (632.0 to 712.0 m);
  • AR-19-262c1 intersected 37.5 m of total composite mineralization including 5.30 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (529.0 to 617.0 m).

A3 High-Grade Domain Highlights

  • AR-19-256c1 intersected 38.5 m of total composite mineralization including 8.10 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 96.0 m section (437.0 to 533.0 m). Additionally, of the 8.10 m of off-scale mineralization intersected in the hole 1.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-258c2 intersected 42.0 m of total composite mineralization including 10.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (413.5 to 501.5 m);
  • AR-19-263c3 intersected 46.5 m of total composite mineralization including 7.20 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 85.0 m section (584.0 to 669.0 m).

Drill hole locations are shown in Figure 1, full drilling results can be found in Table 1. Drill hole descriptions can be found at www.nexgenenergy.ca

Phase I: Testing Geotechnical and Hydrogeological Conditions within the proposed mine plan and Underground Tailings Management Facility ("UGTMF")

An additional 14 holes totaling 6,314.4 m were completed designed to geotechnically and hydrogeologically characterize the rock mass within areas of the proposed mine plan and the UGTMF. The preliminary field analysis indicated robust rock mass conditions in all areas. A report detailing the geotechnical results is being prepared by North Rock Mining Solutions Inc. In addition, the hydrogeological data acquired from these holes is being incorporated into the hydrogeological model which will characterize the favourable hydrogeological conditions at Arrow, inclusive of the proposed UGTMF area. Both reports will be incorporated into to the Feasibility Study and Environmental Assessment for the Arrow Deposit.

Development, Activities & Financial

  • Phase I results are all pending final assays and will be released as received and finalized. The commencement of Phase II is pending final compilation and analysis of all Phase I drilling results. All programs for the Feasibility Study (H1 2020) and Environmental Assessment (H2 2020) are ongoing and on schedule.
  • NexGen commenced an Environmental Assessment on the Rook I Project on April 29, 2019 in accordance with the requirements of both the Environmental Assessment Act and the Canadian Environmental Assessment Act, 2012 ("CEAA 2012") after receiving acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission ("CNSC") and the Saskatchewan Ministry of Environment ("SMOE"). In addition, NexGen filed an Initial Licence Application with the CNSC under the Nuclear Safety and Control Act in order to obtain a Licence to Prepare Site and Construct for the Project.
  • NexGen welcomes the conclusion of the  section 232 investigation as reported on July 12, 2019 by Presidential Memoranda by which the President of the United States determined that he did not believe uranium imports threaten to impair the national security of the United States.  With the conclusion in hand and support for the entire nuclear energy sector in the United States, many industry observers have reported market activity and utility demand interest has already increased since mid-July for spot and mid-term delivery.
  • As of July 31, 2019, the Company had cash-on-hand of approximately $80 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: "The dual purpose 2019 Phase I drilling has produced another batch of exceptional radio activity results highlighting Arrow's unique high grade continuity throughout the ore body, and from a development perspective, highly favourable ground conditions for the proposed mine plan and UGTMF. I would like to take the opportunity to congratulate the NexGen team on the speed, accuracy, efficiency and elite standards in executing Phase I ground work whilst in tandem successfully advancing permitting and community objectives. It's an exciting time at NexGen and the dedication of the team inclusive of our valued service providers, community members and government is outstanding."

Troy Boisjoli, Vice-President, Operations and Project Development, commented: "Today's release represents a great milestone for the Project as this last batch of Phase I holes continues to show the clear continuity of high-grade mineralization across the A2 and A3 shears. These radioactivity results are particularly impressive considering the advanced shallow angle of interception into the sub-vertical Arrow orebody that AziDrill has been able to deliver over prior drill programs at Arrow. In addition, the preliminary geotechnical and hydrogeological field results indicating highly competent ground conditions for sound extraction is excellent. The strength of the Arrow resource and proposed mine plan has been further validated with the completion of the 2019 Phase 1 drill program. We look forward to incorporating all these results into an updated mineral resource, Feasibility Study and Environmental Assessment for submission."

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

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca Group -
Basement Unconformity
Depth (m)

Handheld Scintillometer Results
(RS-120/125)

Hole ID

Azimuth

Dip

Total
Depth (m)

From
(m)

To (m)

Width
(m)

CPS Range

AR-19-251c1

327

-65

577.50

141.25

480.00

481.00

1.00

<500 -  5000






503.00

506.50

3.50

<500 -  14500






520.00

521.00

1.00

<500 -  61000






523.50

524.50

1.00

<500 -  3000






531.00

532.50

1.50

4000 -  61000






537.00

539.00

2.00

<500 -  1700






543.00

545.00

2.00

<500 -  1800






556.50

557.00

0.50

<500 -  590

AR-19-251c2

327

-65

666.50

N/A

424.50

425.00

0.50

<500 -  1400






463.00

465.00

2.00

<500 -  15000






470.00

483.50

13.50

<500 -  33000






486.00

501.00

15.00

<500 -  61000






512.00

514.00

2.00

<500 -  1200






581.50

594.00

12.50

<500 -  61000






597.50

600.00

2.50

<500 -  750






608.00

609.00

1.00

<500 -  1000






611.50

612.50

1.00

<500 -  3400






623.00

627.50

4.50

<500 -  12100






646.00

647.50

1.50

<500 -  2400

AR-19-252c1

327

-65

756.50

129.40

483.50

484.00

0.50

<500 -  2350






502.50

503.00

0.50

<500 -  15200






507.00

508.00

1.00

<500 -  2350






513.50

515.00

1.50

<500 -  1250






559.00

560.00

1.00

600 -  47600






564.50

565.00

0.50

<500 -  2200






574.00

577.50

3.50

<500 -  49000






580.50

587.50

7.00

<500 -  52800






600.00

600.50

0.50

<500 -  6800






610.50

620.50

10.00

<500 -  61000






633.00

635.00

2.00

<500 -  4400






642.00

648.50

6.50

<500 -  2400






652.50

653.00

0.50

520 -  860






661.50

662.00

0.50

<500 -  3400






664.50

665.00

0.50

<500 -  950






667.50

679.00

11.50

<500 -  61000






685.50

695.50

10.00

<500 -  10500






699.00

699.50

0.50

<500 -  1500






703.50

705.50

2.00

<500 -  3700






721.50

724.50

3.00

<500 -  14000

AR-19-252c2

327

-65

801.50

N/A

487.50

489.00

1.50

<500 -  1500






509.50

511.50

2.00

<500 -  8400






543.00

543.50

0.50

<500 -  510






546.00

547.00

1.00

<500 -  4140






559.00

559.50

0.50

<500 -  1400






576.50

584.00

7.50

<500 -  20500






589.50

592.50

3.00

<500 -  45000






595.50

604.00

8.50

<500 -  61000






606.50

611.00

4.50

<500 -  19000






620.00

628.00

8.00

<500 -  44000






634.00

634.50

0.50

<500 -  540






637.50

650.50

13.00

<500 -  3400






656.00

657.00

1.00

<500 -  2100






661.00

669.00

8.00

<500 -  2000






676.00

703.00

27.00

<500 -  61000






723.50

729.50

6.00

<500 -  27000






738.00

738.50

0.50

<500 -  580






745.00

746.00

1.00

<500 -  7200






755.50

757.00

1.50

<500 -  12600






777.50

779.50

2.00

<500 -  13000

AR-19-252c3

327

-65

804.50

N/A

496.50

497.00

0.50

<500 -  850






515.50

521.50

6.00

<500 -  6800






528.00

530.00

2.00

<500 -  9000






551.00

555.00

4.00

<500 -  12700






567.50

568.00

0.50

<500 -  760






580.50

581.50

1.00

<500 -  750






590.50

593.50

3.00

<500 -  45000






606.00

607.00

1.00

<500 -  61000






612.50

621.00

8.50

<500 -  61000






623.50

646.00

22.50

<500 -  61000






649.50

657.00

7.50

<500 -  3800






663.50

671.00

7.50

<500 -  3050






674.00

681.00

7.00

<500 -  1500






684.00

700.00

16.00

<500 -  61000






702.50

704.00

1.50

<500 -  660






706.50

711.50

5.00

<500 -  18100






718.50

729.50

11.00

<500 -  61000






738.00

739.00

1.00

1200 -  47900






750.00

755.00

5.00

<500 -  11600






774.00

776.00

2.00

<500 -  9600






783.50

784.50

1.00

<500 -  61000

AR-19-253c1

327

-65

712.00

125.45

442.50

443.50

1.00

<500 -  2650






528.00

528.50

0.50

<500 -  1100






537.00

540.50

3.50

<500 -  1800






558.50

560.00

1.50

<500 -  15500






568.00

573.00

5.00

<500 -  650






580.00

584.00

4.00

<500 -  4000






587.50

589.50

2.00

<500 -  2200






594.50

595.00

0.50

<500 -  910






623.50

624.00

0.50

<500 -  730






639.50

672.00

32.50

<500 -  61000






681.00

683.00

2.00

<500 -  15000






690.00

696.00

6.00

<500 -  52800

AR-19-253c2

327

-65

744.50

N/A

442.00

442.50

0.50

<500 -  720






506.00

507.50

1.50

<500 -  12000






538.50

541.50

3.00

<500 -  1900






547.00

548.00

1.00

<500 -  840






552.50

558.50

6.00

<500 -  2500






568.50

569.00

0.50

660 -  3150






583.50

585.00

1.50

<500 -  1050






591.50

592.00

0.50

<500 -  1580






606.00

609.00

3.00

<500 -  820






635.50

640.50

5.00

<500 -  2500






651.00

685.00

34.00

<500 -  61000






687.50

688.50

1.00

<500 -  6640






692.50

701.00

8.50

<500 -  13200






706.50

709.50

3.00

<500 -  3350






742.00

742.50

0.50

<500 -  1000

AR-19-254c1

327

-65

684.50

133.10

479.00

480.00

1.00

<500 -  5600






522.00

522.50

0.50

<500 -  550






527.50

528.00

0.50

<500 -  790






533.50

534.00

0.50

<500 -  620






616.50

625.00

8.50

<500 -  6500






631.50

641.00

9.50

<500 -  10200






649.00

651.50

2.50

<500 -  15000






657.00

663.00

6.00

<500 -  12000

AR-19-254c2

327

-65

699.50

N/A

468.50

469.00

0.50

<500 -  550






471.50

472.00

0.50

<500 -  900






483.50

484.00

0.50

700 -  13100






514.50

515.00

0.50

<500 -  1100






528.00

529.50

1.50

<500 -  25000






533.00

534.50

1.50

<500 -  25000






538.50

539.50

1.00

<500 -  29100






542.50

550.50

8.00

<500 -  2800






609.50

610.00

0.50

<500 -  580






622.00

623.50

1.50

<500 -  3300






628.00

658.00

30.00

<500 -  24000






665.50

670.00

4.50

<500 -  61000

AR-19-255c1

327

-65

609.50

122.40

505.00

506.00

1.00

<500 -  1580






510.50

513.00

2.50

<500 -  1700






520.00

523.50

3.50

<500 -  1400






545.50

565.00

19.50

<500 -  61000






568.50

569.00

0.50

670 -  2000






588.00

589.00

1.00

<500 -  5600

AR-19-255c2

327

-65

609.50

N/A

523.00

523.50

0.50

<500 -  7500






526.00

532.50

6.50

<500 -  4400






551.00

561.50

10.50

<500 -  61000






565.00

568.00

3.00

<500 -  910






579.00

579.50

0.50

<500 -  750






582.00

587.50

5.50

<500 -  4000

AR-19-255c3

327

-65

626.00

N/A

436.50

437.00

0.50

<500 -  2600






454.00

454.50

0.50

850 -  1300






504.00

507.50

3.50

<500 -  700






510.50

511.50

1.00

<500 -  2600






514.00

520.50

6.50

<500 -  2600






528.00

530.00

2.00

<500 -  5700






533.50

535.50

2.00

<500 -  3960






538.50

539.50

1.00

<500 -  4300






549.00

550.00

1.00

<500 -  2400






567.50

584.50

17.00

<500 -  61000






587.50

589.50

2.00

<500 -  2100






603.00

603.50

0.50

570 -  1240






606.00

606.50

0.50

<500 -  500

AR-19-256c1

327

-65

537.00

141.00

453.50

456.50

3.00

<500 -  23000






467.00

467.50

0.50

800 -  27000






471.50

472.50

1.00

<500 -  15200






478.00

512.00

34.00

<500 -  61000

AR-19-256c2

327

-65

552.50

N/A

457.50

458.50

1.00

<500 -  5850






463.00

467.50

4.50

<500 -  6300






470.00

470.50

0.50

<500 -  1500






474.00

476.00

2.00

<500 -  4000






480.00

481.00

1.00

750 -  13000






484.50

485.00

0.50

<500 -  720






488.00

489.00

1.00

<500 -  1400






492.00

516.50

24.50

<500 -  61000

AR-19-256c3

327

-65

705.20

N/A

461.50

462.00

0.50

<500 -  1600






469.00

471.50

2.50

<500 -  990






479.00

481.00

2.00

<500 -  7400






483.50

484.00

0.50

<500 -  550






487.00

487.50

0.50

<500 -  21000






491.00

491.50

0.50

3400 -  61000






501.00

505.50

4.50

<500 -  61000






512.00

513.50

1.50

<500 -  6000






516.50

527.00

10.50

<500 -  26900






543.50

544.00

0.50

<500 -  530






547.50

550.50

3.00

<500 -  640






655.50

660.50

5.00

<500 -  2500






674.50

678.00

3.50

<500 -  1980






698.00

698.50

0.50

<500 -  800

AR-19-257c1

327

-65

651.50

120.50

480.00

481.50

1.50

<500 -  7850






524.00

524.50

0.50

<500 -  1060






536.00

538.00

2.00

<500 -  1750






553.00

554.00

1.00

<500 -  790






561.50

563.00

1.50

<500 -  8800






570.00

571.00

1.00

<500 -  12500






586.00

594.50

8.50

<500 -  30000






601.50

602.50

1.00

<500 -  22000






614.50

617.00

2.50

<500 -  1800






622.50

631.50

9.00

<500 -  7200

AR-19-257c2

327

-65

666.50

N/A

526.00

527.50

1.50

<500 -  4100






549.00

550.00

1.00

<500 -  5800






560.00

564.50

4.50

<500 -  1700






582.00

582.50

0.50

<500 -  880






598.00

600.00

2.00

<500 -  15000






611.00

612.50

1.50

<500 -  61000






637.00

641.50

4.50

<500 -  3550

AR-19-257c3

327

-65

654.50

N/A

482.50

483.00

0.50

<500 -  1100






487.00

487.50

0.50

<500 -  1300






491.00

491.50

0.50

<500 -  1000






517.50

518.50

1.00

<500 -  6900






526.00

527.00

1.00

<500 -  8900






539.50

542.50

3.00

<500 -  2300






546.50

547.50

1.00

<500 -  1250






555.50

557.00

1.50

<500 -  26000






568.50

571.00

2.50

<500 -  1000






584.00

585.00

1.00

<500 -  600






587.50

597.00

9.50

<500 -  61000






600.00

600.50

0.50

<500 -  2500






606.00

612.00

6.00

<500 -  61000






614.50

621.00

6.50

<500 -  36500






624.50

630.50

6.00

<500 -  1200

AR-19-257c4

327

-65

666.50

N/A

485.00

485.50

0.50

<500 -  970






490.00

491.50

1.50

<500 -  1300






517.00

528.00

11.00

<500 -  4900






559.50

560.50

1.00

<500 -  3500






564.50

565.00

0.50

<500 -  1900






570.00

571.00

1.00

<500 -  1800






573.50

574.00

0.50

<500 -  2100






598.00

598.50

0.50

3700 -  30400






606.00

606.50

0.50

<500 -  1000






610.00

610.50

0.50

<500 -  1900






621.00

630.50

9.50

<500 -  14000






637.00

644.00

7.00

<500 -  2900

AR-19-258c1

327

-65

495.50

138.05

418.00

419.00

1.00

<500 -  11200






436.00

447.50

11.50

<500 -  48300






452.50

462.00

9.50

<500 -  61000






466.50

470.50

4.00

<500 -  1900






476.50

481.50

5.00

<500 -  3100






484.00

487.50

3.50

<500 -  2200






493.50

495.50

2.00

<500 -  1200

AR-19-258c2

327

-65

501.50

N/A

413.50

414.00

0.50

550 -  6700






419.00

419.50

0.50

<500 -  870






427.00

428.00

1.00

1350 -  38700






446.50

480.50

34.00

<500 -  61000






485.00

489.50

4.50

<500 -  1500






494.50

496.00

1.50

<500 -  560






501.00

501.00

0.00

<500 -  710

AR-19-259c1

327

-65

651.50

127.95

456.00

457.00

1.00

<500 -  970






460.50

461.00

0.50

<500 -  1050






483.00

490.00

7.00

<500 -  4900






508.50

509.00

0.50

<500 -  820






583.50

596.00

12.50

<500 -  61000






598.50

607.00

8.50

<500 -  61000






613.00

613.50

0.50

<500 -  580






616.50

621.50

5.00

<500 -  25700

AR-19-259c2

327

-65

666.50

N/A

462.50

463.00

0.50

<500 -  880






493.00

494.00

1.00

<500 -  32600






502.50

503.50

1.00

<500 -  900






508.00

508.50

0.50

<500 -  3600






524.00

525.00

1.00

<500 -  900






565.00

566.00

1.00

<500 -  600






596.50

604.00

7.50

<500 -  61000






607.50

609.00

1.50

<500 -  11200






614.50

619.50

5.00

<500 -  3500






628.00

628.50

0.50

<500 -  630






631.00

634.50

3.50

<500 -  12400






637.50

638.50

1.00

<500 -  1300

AR-19-260c1

327

-65

600.50

126.00

436.50

437.00

0.50

<500 -  1900






454.00

454.50

0.50

<500 -  610






470.00

470.50

0.50

<500 -  530






476.50

477.50

1.00

<500 -  6000






481.00

481.50

0.50

<500 -  820






493.50

495.50

2.00

<500 -  1300






500.00

503.00

3.00

<500 -  2300






507.50

508.00

0.50

<500 -  620






527.50

548.50

21.00

<500 -  43000

AR-19-260c2

327

-65

597.50

N/A

475.00

476.00

1.00

<500 -  1100






483.00

484.00

1.00

<500 -  2100






490.50

491.50

1.00

<500 -  530






494.00

494.50

0.50

<500 -  540






498.00

498.50

0.50

<500 -  780






502.00

504.50

2.50

<500 -  1700






515.50

516.00

0.50

<500 -  510






521.00

544.00

23.00

<500 -  61000

AR-19-261c1

327

-65

765.50

120.80

195.50

196.00

0.50

<500 -  670






541.50

542.50

1.00

<500 -  9500






553.50

559.00

5.50

<500 -  14500






563.00

564.00

1.00

<500 -  11000






567.00

568.00

1.00

<500 -  1000






575.00

575.50

0.50

2000 -  50000






578.50

579.50

1.00

<500 -  61000






594.50

595.00

0.50

<500 -  700






608.00

616.00

8.00

<500 -  4100






621.50

623.50

2.00

<500 -  1900






627.50

628.50

1.00

<500 -  1600






631.50

634.50

3.00

<500 -  1800






658.00

662.50

4.50

<500 -  2400






671.50

689.00

17.50

<500 -  61000






695.00

716.00

21.00

<500 -  4700






721.00

722.50

1.50

<500 -  1100

AR-19-261c2

327

-65

774.50

N/A

497.50

499.00

1.50

<500 -  1300






520.50

521.00

0.50

<500 -  2400






553.00

554.50

1.50

<500 -  4100






566.00

568.50

2.50

<500 -  5900






571.00

576.50

5.50

<500 -  41000






589.50

592.50

3.00

<500 -  45100






612.50

615.00

2.50

<500 -  1100






626.50

628.00

1.50

<500 -  1800






635.50

638.00

2.50

<500 -  1600






652.50

653.00

0.50

<500 -  520






666.50

667.50

1.00

<500 -  850






671.50

687.50

16.00

<500 -  61000






695.00

695.50

0.50

<500 -  2080






698.00

699.00

1.00

<500 -  750

AR-19-262c1

327

-65

636.50

125.00

484.50

485.00

0.50

<500 -  660






492.00

492.50

0.50

<500 -  800






503.00

506.50

3.50

<500 -  2700






516.00

521.50

5.50

<500 -  1800






560.50

573.50

13.00

<500 -  61000






576.50

577.00

0.50

<500 -  610






585.00

593.50

8.50

<500 -  3800






596.00

599.50

3.50

<500 -  2150






602.00

604.50

2.50

<500 -  990






607.50

617.00

9.50

<500 -  61000

AR-19-262c2

327

-65

648.50

N/A

494.50

497.00

2.50

<500 -  4200






506.00

509.50

3.50

<500 -  1750






517.00

518.00

1.00

<500 -  850






520.50

521.00

0.50

<500 -  650






526.00

527.00

1.00

<500 -  920






537.00

537.50

0.50

<500 -  650






558.50

559.00

0.50

<500 -  1100






568.50

576.50

8.00

<500 -  61000






580.50

583.00

2.50

<500 -  6600






592.00

594.00

2.00

<500 -  1500






600.50

620.00

19.50

<500 -  12500






626.50

628.00

1.50

<500 -  900

AR-19-262c3

327

-65

654.50

N/A

492.50

493.50

1.00

<500 -  2200






496.00

497.00

1.00

<500 -  1450






502.00

502.50

0.50

<500 -  560






505.50

507.50

2.00

<500 -  1200






532.50

533.50

1.00

<500 -  3300






555.50

556.50

1.00

<500 -  1100






577.50

597.00

19.50

<500 -  61000






601.00

601.50

0.50

<500 -  1050






605.50

608.00

2.50

<500 -  820






614.50

615.00

0.50

<500 -  540






617.50

627.00

9.50

<500 -  17200






634.50

637.00

2.50

<500 -  2400






640.00

642.50

2.50

<500 -  730

AR-19-263c1

325

-65

662.00

136.30

539.00

546.00

7.00

<500 -  19000






557.50

558.00

0.50

<500 -  1700






566.50

568.50

2.00

<500 -  8500






575.50

590.00

14.50

<500 -  27000






594.50

595.50

1.00

<500 -  15000






598.50

602.00

3.50

<500 -  25000






605.00

611.50

6.50

<500 -  61000






614.50

638.50

24.00

<500 -  61000






641.00

644.00

3.00

<500 -  1200

AR-19-263c2

325

-65

666.50

N/A

540.00

545.00

5.00

<500 -  32000






560.00

582.50

22.50

<500 -  61000






590.50

592.50

2.00

<500 -  9800






605.00

611.00

6.00

<500 -  2800






619.00

627.50

8.50

<500 -  61000






634.00

636.50

2.50

<500 -  1100






640.50

641.00

0.50

<500 -  530






644.50

645.50

1.00

<500 -  1000

AR-19-263c3

325

-65

669.50

N/A

535.00

536.00

1.00

<500 -  700






547.00

550.50

3.50

<500 -  47000






567.50

568.50

1.00

<500 -  2450






573.00

573.50

0.50

<500 -  1120






581.50

584.00

2.50

<500 -  2600






589.00

594.50

5.50

<500 -  8800






597.00

598.50

1.50

<500 -  6300






601.50

604.50

3.00

<500 -  12000






614.00

619.50

5.50

<500 -  61000






622.00

626.00

4.00

<500 -  61000






631.00

654.00

23.00

<500 -  61000






656.50

660.50

4.00

<500 -  2150

AR-19-264c1

327

-65

759.50

124.85

503.00

503.50

0.50

<500 -  540






532.00

534.00

2.00

<500 -  5000






541.00

541.50

0.50

500 -  6300






564.50

565.00

0.50

<500 -  720






572.00

572.50

0.50

<500 -  1900






580.50

581.50

1.00

<500 -  2600






591.50

596.00

4.50

<500 -  8200






598.50

599.00

0.50

<500 -  510






606.00

606.50

0.50

<500 -  580






610.00

610.50

0.50

<500 -  500






621.00

622.00

1.00

<500 -  2200






641.50

645.50

4.00

<500 -  2100






657.00

658.00

1.00

<500 -  610






663.50

664.50

1.00

<500 -  5600






669.00

681.00

12.00

<500 -  61000






686.50

690.50

4.00

<500 -  11000






694.00

707.00

13.00

<500 -  6600






711.00

730.50

19.50

<500 -  61000






757.00

757.50

0.50

<500 -  3500

AR-19-264c2

327

-65

789.50

N/A

535.50

536.00

0.50

2500 -  39000






580.00

581.00

1.00

<500 -  680






585.50

587.50

2.00

<500 -  2800






593.00

595.50

2.50

<500 -  2100






600.50

604.50

4.00

<500 -  61000






615.50

616.00

0.50

<500 -  790






623.00

630.50

7.50

<500 -  1780






638.00

638.50

0.50

<500 -  620






646.00

647.50

1.50

<500 -  1100






652.00

652.50

0.50

<500 -  2000






667.50

668.50

1.00

<500 -  1100






677.00

696.00

19.00

<500 -  61000






701.00

714.00

13.00

<500 -  61000






717.00

728.50

11.50

<500 -  61000






731.00

735.00

4.00

<500 -  6000






742.00

746.50

4.50

<500 -  4500






749.00

749.50

0.50

<500 -  2100






753.50

755.00

1.50

<500 -  1270






775.00

776.50

1.50

<500 -  5400

AR-19-265c1

327

-65

615.50

125.20

456.00

458.00

2.00

<500 -  1500






479.00

480.50

1.50

<500 -  1700






484.50

486.00

1.50

<500 -  3300






490.00

492.50

2.50

<500 -  850






500.00

503.00

3.00

<500 -  2700






510.00

511.50

1.50

<500 -  1020






515.00

516.50

1.50

<500 -  1100






529.50

556.50

27.00

<500 -  61000






560.50

569.00

8.50

<500 -  8700






571.50

579.50

8.00

<500 -  4150






591.50

592.50

1.00

560 -  7100

AR-19-265c2

327

-65

627.50

N/A

445.00

445.50

0.50

<500 -  1050






475.50

484.00

8.50

<500 -  2630






497.50

498.50

1.00

<500 -  750






501.00

501.50

0.50

<500 -  550






508.50

509.00

0.50

<500 -  580






516.00

516.50

0.50

<500 -  930






522.50

523.00

0.50

<500 -  530






532.00

532.50

0.50

<500 -  1200






535.50

570.50

35.00

<500 -  61000






573.50

577.00

3.50

<500 -  4500






588.00

590.00

2.00

<500 -  1800






594.00

597.50

3.50

<500 -  4200






600.50

606.50

6.00

<500 -  26100

 

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

• 

If a drill hole deviates from a target a section of the drill hole may need to be re-drilled - this can potentially cause small discrepancies (in metres) between the reported total length of a drill hole (depth at end of hole minus the starting depth) and the actual number of metres drilled for a given drill hole.

 

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 discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC's 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O'Hara, P.Eng. of Wood., David Robson, P.Eng., M.B.A., and Jason Cox, P.Eng. of RPA, each of whom is a "qualified person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI-43-101"). 

The Mineral Resource Estimate was completed by Mr. Mark Mathisen, C.P.G., Senior Geologist at RPA and Mr. David Ross, P.Geo., Director of Resource Estimation and Principal Geologist at RPA.  Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen.  Mr. Boisjoli is a qualified person for the purposes of 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.  All other technical information in this news release has been approved by Mr. James Hatley, a Professional Engineer, Senior Vice-President – Project Development for NexGen.  Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.

A technical report in respect to the PFS is filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) and is available for review on NexGen Energy's website (www.nexgenenergy.ca).

SEC Standards

Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as "reserves" under SEC standards. In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of "contained pounds" in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Technical Information

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 "Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study" dated effective 5 November, 2018 (the "Rook 1 Technical Report") prepared by Paul O'Hara, P.Eng., Jason J. Cox, P.Eng., David M. Robson, P.Eng., M.B.A., Mark B. Mathisen, C.P.G. 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 and EDGAR (www.sec.gov/edgar.shtml) providing 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 and is available on NexGen Energy's website (www.nexgenenergy.ca).

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 4, 2019 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.)

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/nexgen-completes-phase-i-of-feasibility-stage-drill-program-intersecting-high-grade-mineralization-and-preliminarily-assessed-robust-geotechnical-and-hydrogeological-conditions-in-all-areas-of-arrow-300897821.html

SOURCE NexGen Energy Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2019/07/c5445.html

Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, [email protected], www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, [email protected], http://www.nexgenenergy.caCopyright CNW Group 2019


Source: Canada Newswire (August 7, 2019 - 6:30 AM EDT)

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