VANCOUVER, June 7, 2017 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, NYSE: NXE) is pleased to report radioactivity results for the final sixteen holes of the winter 2017 drilling program at our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Southwest Gap Step Out Drilling in A3 to A5 Shears:
Significant off-scale radioactivity continues to be encountered in the gap area near the southwest margin of the Arrow Deposit. The Southwest Gap represents a material resource expansion opportunity as it was not included in the March 2017 updated mineral resource estimate.
Step out hole AR-17-131c3 which was drilled 36 m southwest of the A4 resource grade shell (120 m northeast and down-dip from AR-16-97) intersected 69.0 m of total composite mineralization including 5.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 343.0 m section (647.0 to 990.0 m) in the A3 through A5 shears. Step out hole AR-17-143c1 which was drilled 100 m above and southeast of the A4 resource grade shell (100 m northeast and up-dip from AR-16-97) intersected 24.5 m of total composite mineralization including 2.8 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 86.0 m section (620.5 to 706.5 m) in the A4 shear.Northeast Gap Step Out Drilling in A1 to A3:
Drilling northeast of the Arrow Deposit between the mineral resource domains and mineralized drill holes not included in the updated mineral resource estimate continues to return significant mineralization and off-scale radioactivity.
Step out hole AR-17-138c2 which was drilled 35 m northeast of the A1 resource grade shell (334 m northeast and down-dip from AR-15-44b) intersected 45.5 m of total composite mineralization including 3.15 m of total composite off-scale radioactivity (>10,000 to 41,000 cps) within 287.0 m section (468.0 to 755.0 m) in the A1 through A3 shears.Southeast Arrow - Exploration Drilling
In addition, the Company is pleased to announce the identification of visible pitchblende mineralization located 300 m southeast of the Arrow Deposit. Exploration hole RK-17-118w1 intersected 0.5 m of anomalous radioactivity measuring a maximum of 1,300 cps at 490.5 m down-hole. This new occurrence of anomalous radioactivity is located on an Arrow-parallel conductive feature where significant sections of stacked hydrothermal alteration and graphitic shear zones were intersected in the only two holes drilled in the area. Mineralized hole RK-17-118w1 was the last hole drilled prior to the termination of the winter program.
Arrow, Activities & Financial
The 2017 winter program comprised 40,768.5 m of drilling in 64 holes with seven drill rigs. Assays remain pending for 56 holes (34,270.5 m) from Arrow and 8 exploration holes (6,498 m) drilled proximal to Arrow. A summer drill program focused on further Arrow Deposit delineation as well as expansion drilling is scheduled to commence in early Q3. A maiden Preliminary Economic Assessment is scheduled to be completed in late Q2 / early Q3 2017 The Company has cash on hand of approximately $57 million.A longitudinal section and maps showing drill hole locations are shown in Figures 1 to 3. Tables 1 and 2 show summaries of the mineralized intervals.
Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Drilling in the southwest and northwest gaps of the Arrow Deposit has been highly successful by returning both broad intervals of mineralization incorporating high grade zones. The southwest and northeast gaps will be targeted in the summer 2017 program to ensure that mineralization in these zones are optimally incorporated into future Arrow resource grade shells. Exploration drilling at a prospective ground 3D resistivity anomaly located 300 m southeast of the Arrow Deposit has returned elevated radioactivity and visible uranium mineralization and will be a priority target of future programs."
Leigh Curyer, Chief Executive Officer, commented: "Exploration in winter has delivered discovering new zones of mineralization inside and outside of the area of previously known mineralization. The growth of Arrow this winter and evident heading into future programs is clearly evident, whilst simultaneously advancing on engineering and permitting studies. Our maiden PEA is scheduled to be completed in the coming months providing a basis to rank Arrow on a global scale to other producing and advance development uranium projects."
Table 1: Arrow Deposit 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-17-129c3 | 327 | -70 | 981.50 | N/A | 796.50 | 797.00 | 0.50 |
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