Welcome!

News Feed Item

NexGen Extends Arrow Discovery Zone. Second Hole Intersects Several Highly Anomalous Radioactive Zones, Rook I West, SW Athabasca Basin

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/13/14 --

Highlights


--  Second drill hole at the "Arrow" Prospect, Rook I west area intersects
    several radioactive zones 
    
--  Multiple sections of high cps total count gamma spectrometer readings
    including one zone totaling 15.05 meters (containing several intercepts
   greater than 10,000cps) of radioactive anomalism 
    
--  Arrow mineralised zone is currently extended to a minimum 32 meters down
    dip across two holes 
    
--  Structural interpretation validated 

NexGen Energy Ltd. (TSX VENTURE:NXE) ("NexGen" or the "Company") is pleased to announce the discovery of further new zones of uranium mineralisation within a second hole (RK-14-27) in the Arrow prospect, Rook 1 project in the SW Athabasca Basin, extending the known zone of uranium mineralisation down dip and along strike.

The first hole at Arrow, RK-14-21 (as previously reported on Sedar, February 24, 2014), was completed at 663.0m. It intersected uranium-mineralised brecciated structural zones over several zones downhole, including 26.2m from 204.8-231.0m, 0.6m from 318.5-319.1m, 26.8m from 517.9-544.5m, and 4.0m from 580.0-584.0m. Four further holes have been completed at Arrow (holes RK-14-24, -25, -26, and -27) (see Figure 1).

The most recent hole, RK-14-27, was completed to a depth of 576m. It intersected uraniferous structurally-disturbed zones similar to the zones in hole RK-14-21, and interpreted to be continuations of those zones. These include downhole radioactively anomalous intercepts in RK-14-27 of 0.25m from 224.45-224.70m, 15.05m from 240.65-255.70m (Figs 2 and 3), 1.25m from 359.20-360.45m, and 0.20m from 435.70-435.90m.

Andrew Browne, NexGen's Vice-President, Exploration and Development, commented, "The structural interpretation of uranium mineralised zones at Arrow has been validated. We are greatly encouraged by this confirmation of both along strike and down dip extensions, and by the preliminary thickness and strength of the radioactivity. Further drilling at Arrow is designed to continue to confirm the strike and dip extent of this newly discovered uranium mineralised prospect."

Leigh Curyer, NexGen's CEO commented, "Andrew Browne, James Sykes and Matthew Schwab (the core NexGen technical team) have done a terrific job in only the 5 holes drilled to date at Arrow. The arrival of a third drill rig for the summer program will significantly expedite the results and potential of Arrow and the other identified geophysical targets on the western section of Rook I."

As previously reported, the Arrow zone is structurally complex, with a range of basement lithologies having variable competency contrast. Hole 21 suffered a deviation from its planned trace apparently due to a combination of boulders in the glacial overburden and foliated basement. Holes RK-14-24, -25, and -26 were planned and drilled to ascertain the orientation of the dominant mineralised structures. While no major radiometric zones were intersected, analysis of structures in these holes meant that hole -27 was successfully planned to intersect the interpreted mineralised zones both along strike and down dip. The next follow up hole, RK-14-29, is planned a further 40m SW along strike to again intersect the interpreted mineralised Arrow zones.

Hole RK-14-27 has been probed radiometrically, using a Mt Sopris 2PGA-1000 total count natural gamma scintillometer probe (Fig 4). The significant radioactive zones have been measured using a hand-held Radiation Solutions Inc RS-125 spectrometer (Table 1), and this has confirmed that all radiometric activity is due to uranium. Currently, NexGen defines "significant" as a minimum of 5cm greater than 500 cps (counts per second). Note that the Radiation Solutions RS-125 spectrometer now used for core scanning is a different instrument to the Exploranium GR-110 previously used. The RS-125 spectrometer has a larger detector crystal than the Exploranium GR-110, but the total count gamma scan readings in counts per second (cps) are in the same range and it is used for qualitative indications of radioactive anomalism.

As in hole RK-14-21, the host lithology throughout most of hole RK-14-27 comprises variably chloritised medium/coarse-grained quartz-garnet-feldspar gneiss, with localized graphitic zones, shearing, brecciation, minor silicification, local dravitic clay veins, and clay alteration. All mineralised zones are being sampled for chemical analysis.

Hole RK-14-28 is in progress, and is designed to intersect the cause of the gravity low at Arrow.

To view Figures 1-4, please visit the following link: http://media3.marketwire.com/docs/933100_F1-4.pdf.


              Table 1 Radioactively anomalous zones in RK-14-27             
                                                                            
----------------------------------------------------------------------------
                             Interval                                       
              From       To        (m            Min            Max         
Hole           (m)      (m) downhole)            cps            cps Comments
----------------------------------------------------------------------------
RK-14-27    224.45   224.70      0.25  less than 500            600     0.25
----------------------------------------------------------------------------
RK-14-27    239.45   239.70      0.25  less than 500            600     0.25
----------------------------------------------------------------------------
RK-14-27    240.65   241.00      0.35            800           1000     2.35
                                                                            
RK-14-27    241.00   241.20      0.20           1000           2500         
RK-14-27    241.20   241.55      0.35  less than 500           1000         
RK-14-27    241.55   241.70      0.15           1000           1300         
RK-14-27    241.70   242.00      0.30  less than 500           1000         
RK-14-27    242.00   242.10      0.10           1400           1700         
RK-14-27    242.10   242.30      0.20           1800           2400         
RK-14-27    242.30   242.40      0.10           1100           1300         
RK-14-27    242.40   242.55      0.15           1800           2000         
RK-14-27    242.55   242.70      0.15           3000           3500         
RK-14-27    242.70   242.85      0.15            550            650         
RK-14-27    242.85   243.00      0.15  less than 500            550         
                           -------------------------------------------------
RK-14-27    243.00   243.30      0.30                 less than 500         
                           -------------------------------------------------
RK-14-27    243.30   243.40      0.10  less than 500            700     12.4
                                                                            
RK-14-27    243.40   243.75      0.35  less than 500            600         
RK-14-27    243.75   243.85      0.10            600            700         
RK-14-27    243.85   244.05      0.20            750            850         
RK-14-27    244.05   244.20      0.15           1250           1500         
                                                       greater than        
RK-14-27    244.20   244.35      0.15           6100         10,000         
                                        greater than   greater than        
RK-14-27    244.35   244.50      0.15         10,000         10,000         
RK-14-27    244.50   244.60      0.10           1700           2600         
RK-14-27    244.60   244.80      0.20           1500           2100         
RK-14-27    244.80   244.95      0.15           2200           3200         
RK-14-27    244.95   245.15      0.20           3000           4500         
RK-14-27    245.15   245.40      0.25           5500           7000         
RK-14-27    245.40   245.50      0.10           4000           4500         
RK-14-27    245.50   245.55      0.05            950           1200         
RK-14-27    245.55   245.65      0.10            850            950         
RK-14-27    245.65   245.95      0.30           1500           1800         
RK-14-27    245.95   246.00      0.05           1000           1200         
RK-14-27    246.00   246.20      0.20           2200           3000         
RK-14-27    246.20   246.40      0.20           1100           1300         
RK-14-27    246.40   246.55      0.15            800           1000         
RK-14-27    246.55   246.85      0.30            500            850         
RK-14-27    246.85   246.95      0.10           1000           1350         
RK-14-27    246.95   247.15      0.20           1700           2000         
RK-14-27    247.15   247.30      0.15           3500           4500         
RK-14-27    247.30   247.50      0.20           6000           7000         
                                                       greater than        
RK-14-27    247.50   247.90      0.40           8000         10,000         
RK-14-27    247.90   248.10      0.20           2500           4000         
RK-14-27    248.10   248.30      0.20           3000           4200         
RK-14-27    248.30   248.65      0.35           2500           3600         
                                                      greater than        
RK-14-27    248.65   248.85      0.20           9000         10,000         
                                        greater than   greater than        
RK-14-27    248.85   249.00      0.15         10,000         10,000         
RK-14-27    249.00   249.20      0.20           1000           1300         
RK-14-27    249.20   249.35      0.15           1400           1800         
RK-14-27    249.35   249.45      0.10           4000           5000         
RK-14-27    249.45   249.65      0.20           5500           8000         
RK-14-27    249.65   249.75      0.10           3700           5200         
RK-14-27    249.75   249.85      0.10           5500           9000         
                                        greater than   greater than        
RK-14-27    249.85   250.05      0.20         10,000         10,000         
                                        greater than   greater than        
RK-14-27    250.05   250.25      0.20         10,000         10,000         
RK-14-27    250.25   250.35      0.10            900           1000         
RK-14-27    250.35   250.65      0.30           1300           2000         
RK-14-27    250.65   250.70      0.05           1000           1150         
RK-14-27    250.70   250.85      0.15            850           1000         
RK-14-27    250.85   250.95      0.10            700            750         
RK-14-27    250.95   251.25      0.30            550            700         
RK-14-27    251.25   251.55      0.30            800           1100         
RK-14-27    251.55   251.65      0.10           2000           3000         
RK-14-27    251.65   251.80      0.15           2500           4000         
                                        greater than   greater than        
RK-14-27    251.80   252.00      0.20         10,000         10,000         
                                                       greater than        
RK-14-27    252.00   252.40      0.40           7000         10,000         
                                        greater than   greater than        
RK-14-27    252.40   252.50      0.10         10,000         10,000         
                                        greater than   greater than        
RK-14-27    252.50   252.65      0.15         10,000         10,000         
                                                       greater than        
RK-14-27    252.65   252.95      0.30           7000         10,000         
RK-14-27    252.95   253.15      0.20           4000           8000         
                                                       greater than        
RK-14-27    253.15   253.30      0.15           8000         10,000         
                                        greater than   greater than        
RK-14-27    253.30   253.40      0.10         10,000         10,000         
                                        greater than   greater than        
RK-14-27    253.40   253.50      0.10         10,000         10,000         
                                        greater than   greater than        
RK-14-27    253.50   253.95      0.45         10,000         10,000         
RK-14-27    253.95   254.05      0.10            800           1200         
                                        greater than   greater than        
RK-14-27    254.05   254.15      0.10         10,000         10,000         
                                        greater than   greater than        
RK-14-27    254.15   254.25      0.10         10,000         10,000         
RK-14-27    254.25   254.35      0.10           4000           5000         
                                                       greater than        
RK-14-27    254.35   254.50      0.15           7500         10,000         
RK-14-27    254.50   254.70      0.20           2100           3600         
RK-14-27    254.70   254.85      0.15            800           1200         
RK-14-27    254.85   255.00      0.15            600            750         
RK-14-27    255.00   255.70      0.70  less than 500            550         
----------------------------------------------------------------------------
---------------------------                                                 
RK-14-27    260.40   260.55      0.15  less than 500            650     0.15
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RK-14-27    359.20   359.55      0.35  less than 500            600     0.35
                           -------------------------------------------------
RK-14-27    359.55   360.00      0.45                 less than 500         
                           -------------------------------------------------
RK-14-27    360.00   360.45      0.45            550            800     0.45
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RK-14-27    435.70   435.90      0.20            600            700      0.2
----------------------------------------------------------------------------
   (i) "Anomalous" means min 5cm at less than 500 cps (counts per second)   
                                                                            
      (ii) Total count gamma readings by gamma spectrometer type RS-125     

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc RS-125 gamma-ray spectrometer, and a Mt Sopris 2PGA-1000 natural gamma probe. 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.

Qualified Person

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.

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 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, an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit and a 100% interest in Rook 1, immediately adjacent to the north east of Patterson Lake South.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.