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Drilling Continues to Return Significant Intervals of Mineralization at the Arrow Zone

VANCOUVER, Sept. 3, 2014 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to announce ongoing results from the summer 2014 drilling program from the 100% owned portion of the Rook I property, Athabasca Basin, Saskatchewan.  Previously reported drill hole AR-14-30 has been completed at depth, and is reported in this news release together with new additional holes AR-14-28 and -29a (see Figure 2). 

Highlights:

  • AR-14-30 has been completed, and intersected 206.6 m total composite mineralization including 53.85 m off-scale radioactivity (>10,000 cps) within a 429.9 m section (298.3 to 728.2 m).  The down-hole gamma and geology log is shown in Figure 1. 

  • AR-14-28 intersected 202.05 m total composite mineralization including 3.25 m off-scale radioactivity (>10,000 cps) within a 675.2 m section (108.1 to 783.3 m). 

  • AR-14-29a intersected 123.35 m total composite mineralization including 1.25 m off-scale radioactivity (>10,000 cps) within a 350.25 m section (230.75 to 581.00 m).

  • 28 of 30 drill holes completed at Arrow to date have intersected uranium mineralization (as defined by the presence of >500 cps radioactivity using an RS-125 gamma spectrometer). 

  • Working capital of $6.5 million.

A total of 17,520.0 m has been drilled at the Rook I property as of August 30th, 2014.  An additional three drill holes (AR-14-28 to -30) have been completed at the Arrow zone since the August 20th, 2014 news release update on drilling results.  Drill hole details and spectrometer (handheld RS-125) results are summarized in Table 1.

Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented "Vertical drill hole AR-14-30 was successful in confirming the pinch and swell of mineralization within one of the sub-vertical shear zones that hosts high grade uranium at the Arrow zone.  Targeting these mineralized swells or 'blow outs' will require a combination of angled and vertical drill holes to optimize drilling at Arrow.  Angled drill holes AR-14-28 and -29a were aggressive 45 to 50 m step outs that intersected significant intervals of mineralization, which provides further evidence that Arrow is only getting bigger."     

Leigh Curyer, CEO commented, "Arrow continues to hit mineralization at close to a 100% strike rate over  large step out distances across an area of 515m x 215m in the first 30 holes drilled.  This fact, coupled with AR-14-30's indication Arrow contains some of the most intensive high grade mineralization seen to date, is incredibly exciting for the team and shareholders as we further develop Arrow. "

Table 1: Arrow Discovery Zone Drill Hole Data

Drill Hole

Athabasca Group -
Basement
Unconformity Depth
(m)

Handheld Scintillometer Results (RS-125)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From (m)

To (m)

Width (m)

CPS Range

AR-14-28

140

-75

825.00

103.50

108.10

112.50

4.40

<500 - 1800






157.40

157.70

0.30

<500 - 600






164.90

166.50

1.60

<500 - 800






186.00

186.65

0.65

<500 - 3000






190.30

192.95

2.65

<500 - 8000






196.00

230.95

34.95

<500 - > 10000






233.20

238.40

5.20

<500 - 9000






240.55

240.80

0.25

<500 - 600






243.00

256.50

13.50

<500 - 10000






258.80

261.50

2.70

700 - 1400






267.20

301.60

34.40

<500 - 3000






305.75

307.70

1.95

<500 - 500






312.65

312.95

0.30

<500 - 600






320.20

320.75

0.55

<500 - 500






323.80

327.55

3.75

<500 - 1000






331.90

353.20

21.30

500 - 2000






355.70

364.50

8.80

<500 - 900






367.90

368.35

0.45

<500 - 500






372.90

375.40

2.50

<500 - 600






378.15

378.35

0.20

<500 - 500






381.40

395.80

14.40

<500 - 1100






431.35

437.70

6.35

<500 - 1100






443.40

456.40

13.00

<500 - 1800






462.00

464.45

2.45

<500 - 700






477.00

477.25

0.25

<500 - 900






487.90

499.10

11.20

<500 - >10000






503.60

504.40

0.80

500 - 4000






507.90

510.75

2.85

<500 - >10000






518.10

518.50

0.40

<500 - 800






521.75

522.50

0.75

<500 - 1400






536.90

537.00

0.10

<500 - 500






555.15

558.90

3.75

<500 - 550






582.15

582.40

0.25

<500 - 700






717.45

717.65

0.20

500 - 2000






725.35

725.50

0.15

<500 - 650






768.25

769.90

1.65

<500 - 2000






780.20

783.30

3.10

<500 - >10000

AR-14-29a

230

-81

663.00

99.50

230.75

234.65

3.90

<500 - >10000






237.00

242.60

5.60

<500 - 1200






257.30

257.60

0.30

<500 - 1000






303.50

304.15

0.65

<500 - 3000






306.35

306.90

0.55

500 - 950






339.90

343.40

3.50

<500 - 1300






346.65

359.05

12.40

<500 - 2200






373.00

375.45

2.45

<500 - 1500






382.00

384.30

2.30

<500 - 9000






388.60

398.70

10.10

<500 - 7000






402.30

410.50

8.20

<500 - 5000






413.70

415.20

1.50

<500 - 8000






428.05

429.70

1.65

<500 - 1700






432.00

433.30

1.30

<500 - 600






444.20

446.90

2.70

<500 - 700






453.00

468.40

15.40

<500 - 8000






474.65

489.15

14.50

<500 - 9000






492.25

500.45

8.20

<500 - 4000






503.25

503.90

0.65

<500 - 600






508.35

508.45

0.10

<500 - 550






511.10

514.50

3.40

<500 - >10000






517.00

518.05

1.05

<500 - 2000






533.60

536.90

3.30

<500 - 4000






539.80

540.50

0.70

<500 - 2000






547.50

560.50

13.00

<500 - 8000






575.05

581.00

5.95

<500 - 2000

AR-14-30

230

-90

807.00

101.10

298.30

300.60

2.30

<500 - 600






303.10

303.30

0.20

<500 - 600






309.50

317.50

8.00

<500 - 1000






321.00

323.40

2.40

<500 - 1000






327.50

382.30

54.80

<500 - >10000






419.70

423.00

3.30

<500 - 6500






425.30

438.15

12.85

<500 - >10000






440.20

440.35

0.15

10000 - >10000






442.45

445.40

2.95

<500 - 2000






447.65

463.85

16.20

<500 - >10000






466.50

470.80

4.30

500 - >10000






488.85

507.90

19.05

<500 - >10000






512.80

586.00

73.20

<500 - >10000






721.30

728.20

6.90

<500 - 2500

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are meters downhole
  • "Anomalous" means min 5 cm at >500 cps (counts per second) total count gamma readings by gamma spectrometer type RS-125
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma spectrometer type RS-125
  • Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval

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. 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.

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 the partial and total digestions, ICP-OES for major and minor elements on the 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.

ARROW ZONE DRILLING

Hole AR-14-28 was collared 50 m northwest of RK-14-34 to target down dip mineralization along the L4600N grid line.  Athabasca Group sandstone was intersected from 92.65 m to the unconformity depth of 103.50 m where moderate to strong bleaching and desilicification were observed.  Basement geology consists of semipelitic gneiss from 103.5 to the end of hole depth at 825.0 m.  Trace to weakly graphitic intervals were observed from 227.1 to 312.0 m, 335.9 to 336.4 m, 350.20 to 351.85 m, 442.9 m to 445.5 m, and 475.4 m to 477.6 m.  Common structures included sub-meter to meter faulting throughout with moderate to massive clay gouges from 108.5 to 825.0 m. Weak to moderately mineralized graphitic mylonites with moderate clay and chlorite alteration were observed from 195.80 to 200.25 m and 374.45 to 374.60 m.  A total composite of 202.05 m mineralization including 3.25 m off-scale radioactivity (>10,000 cps) was intersected within a 675.2 m section (108.1 to 783.3 m).

Hole AR-14-29a was collared 45 m to the north of AR-14-27 and was angled parallel to the strike of the conductive graphitic mylonites and pelites to test for mineralization oriented with northerly cross cutting structures.  Athabasca Group sandstone was intersected from 87.0 m to the unconformity depth of 99.5 m where weak to extreme bleaching and desilicification were observed throughout.  Basement geology consists of quartzitic to semipelitic gneiss from 99.55 to 123.50 m underlain by a semipelitic gneiss from 123.5 m to the end of hole depth at 663.0 m.  A moderate graphitic-chloritic mylonite occurs from 233.9 to 254.2 m.  Common structures included sub-meter to meter faulting and shearing, which include a fault with local clay alteration from 109.3 to 116.4 m as, a shear zone with associated fracture set from 233.9 to 268.8 m, a fault from 300.7 to 301.9 m, fault zones from 388.8 to 389.6 m and 395.5 to 397.5 m, a larger fault zone from 446.2 to 481.1 m, fault gouges and associated fractures from 540.9 to 546.8 m, and a fault zone from 577.2 to 584.3 m.  A total composite of 123.35 m mineralization including 1.25 m off-scale radioactivity (>10,000 cps) was intersected within a 350.25 m section (230.75 to 581.00 m).

Hole AR-14-30 was previously reported (see news release August 26th, 2014) when drilling was at a depth of 637.4 m.  This drill hole targeted the vertical extents of high grade mineralization encountered in AR-14-15, which returned 3.42% U3O8 over 22.35 m from 564.00 to 586.35 m, and 1.52% U3O8 over 32.0 m from 594.0 to 626.0 m (see news release August 7th, 2014).  Athabasca Group sandstone was intersected from 94.7 m to the unconformity depth of 101.1 m where strong bleaching and desilicification were observed throughout.  Basement rocks comprise primarily semipelitic gneiss with weak to moderate clay, chlorite, and hematite alteration from 101.1 to 297.0 m.  Intercalated semipelitic and pelitic gneiss continues from 297.0 m to the end of hole depth of 807.0 m.  Abundant graphite content is limited to mylonite identified from 438.5 to 447.0 m and 463.2 to 466.75 m.  Minor concentrations of disseminated graphite are present outside of these graphitic mylonite units.

Lithology is unrecognizable within higher grade zones of mineralization due to extreme alteration of the host basement rock.  Alteration varies dependent upon the intensity of mineralization.  Weak to moderate pale green chlorite (likely sudoite) and clay alteration as well as dravite coated fractures are found associated with flecks and disseminated uranium mineralization (<5000 cps).  Moderate to strong clay alteration, and moderate hematite and dark green to black chlorite is present as alteration halos around blebs and stringers of uranium mineralization (>5000 to <10,000 cps).  Dravite on fracture surfaces or within veins is also common adjacent to this intensity of mineralization.  Disseminated nodules, fracture hosted, vein, wormrock, semi-massive and massive mineralization styles (>10,000 cps) are often surrounded by moderate hematite redox fronts.  Moderate to strong dark green to black chlorite and clay is common, although most semi-massive and massive mineralization is hosted in competent rock.  Semi-massive to massive mineralized intervals often contain irregular micro-stringers of hematite throughout.  Voids and vugs partially filled with drusy quartz are common from 609.0 693.0 m, which resulted in difficult drilling conditions and a reduction in drilling rod diameter (NQ down to BQ) was to complete the hole at a depth of 807.0 m. 

Following the August 26th, 2014 news release on AR-14-30, new mineralization was encountered from 721.3 to 728.2 m, and re-examination of the drill core from 298.3 to 586.0 m increased the total composite mineralization.  A total composite of 206.6 m mineralization including 53.85 m off-scale radioactivity (>10,000 cps) was intersected within a 429.9 m section (298.3 to 728.2 m).

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 a 100% interest in Rook 1, location of the Arrow Discovery, immediately adjacent to the northeast of the Fission/Alpha Patterson Lake South Discovery, and an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of Nexgen Energy Ltd., by Garrett Ainsworth, P.Geo., Vice President – Exploration & Development, a qualified person.

Leigh Curyer,
Chief Executive Officer
NexGen Energy Ltd.
+1 604 428 4112
[email protected],
www.nexgenenergy.ca

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.

SOURCE NexGen Energy Ltd.

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