Feb 21 2014
NexGen Energy Ltd. ("NexGen" or the "Company") is pleased to announce the discovery of a new zone of uranium mineralisation in the Rook 1 project in the SW Athabasca Basin.
The first hole at Arrow, RK-14-21, is still being drilled. From 204.8-231.0m downhole, it has intersected 26.2m of sheared graphitic and garnetiferous breccia, with localized haematite-carbonate-graphite-chlorite alteration, set within a chloritised garnetiferous gneiss. The breccia contains zones of pitchblende disseminations & veinlets with downhole widths varying between 0.2-2.9m. Two zones of massive chloritic clay were intersected, 3.3m between 98.0-101.2m, and 3.0m between 108.0-111.0m. At 318.5m downhole, a 2cm pitchblende vein occurs centrally within a 50cm zone of intense haematite alteration. The balance of the hole logged to date (322.0m as at Mon 17 Feb) comprises medium/coarse-grained garnetiferous quartz-feldspar gneiss, with localized shearing.
A number of significant radioactive zones have been measured using a hand-held Exploranium GR-110 total count scintillometer (see Table). Currently, NexGen defines "significant" as a minimum of 5cm >500 cps (counts per second). The hole has not yet been probed radiometrically downhole, as it is still being drilled. All core to hand has been scanned by GR-110 scintillometer and detailed scintillometer radiometrics are available only to 321.75m downhole (Table 2). All radiometric anomalies have been scanned with an Exploranium GR-135 spectrometer, and this has confirmed that all radiometric activity is due to uranium (with minimal or no thorium input).
Andrew Browne, NexGen's Vice-President, Exploration and Development, commented "The Arrow prospect represents a totally new zone of uranium mineralisation in the SW Athabasca Basin, completely unrelated to any other known occurrence in the region. Its discovery demonstrates the commitment and geoscientific expertise of NexGen's technical team of employees and consultants."
Leigh Curyer, NexGen's CEO, commented "Arrow is the result of the disciplined focus and approach of Andrew and the NexGen technical team. I congratulate them on a terrific result at such an early stage in the exploration program. We are immediately revising our original 6000m program in terms of drilling logistics in order to substantially expand the program at Arrow and the other 11 western located Rook I target areas. The result indicates the potential of this south-western section of the Athabasca Basin in becoming a new prolific uranium district."
Other results
At Area A, hole RK-13-05 had a downhole intercept between 220.5-224.5m of 4.0m @ 330 ppm U3O8 (press release of 9 January 2014).
Five holes have been completed for a better understanding of the uranium previously intersected at Area A (holes RK-14-14, -15, -16, -18, and -19). All five confirmed the presence of the brecciated shear zone with localized anomalous radioactivity, although levels were of apparent lower values than from the summer drill program. Samples are being selected for check chemical analysis.
As noted in the press release of 20 January 2014, further drilling is being targeted towards a number of new anomalous areas generated internally by a detailed interpretation of all available public and NexGen data. Two of these new target areas have been designated Arrow and Dagger. Three drill holes have been completed at Dagger, whilst RK-14-21 is continuing at Arrow.
Two of the holes at Dagger, RK-14-20 and -22, intersected brecciated graphitic sheared gneissic material with localized small zones of alteration and anomalous radioactivity.
Of the twelve separately identified target areas in this western section of Rook I, only three have been drilled to date, A, C and D. All three have uranium mineralisation.
To view the figures and table associated with this press release, please visit the following link: http://media3.marketwire.com/docs/NexGEN_figures.pdf.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a handheld Exploranium GR-110 total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole; core interval measurements and true thickness is 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.