VANCOUVER, May 28, 2019 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSX: NXE, NYSE MKT: NXE) is
pleased to report radioactivity for an additional twenty holes
comprising 7,969.5 m from the
Company's Feasibility stage drilling program at our 100% owned,
Rook I property in the Athabasca
Basin Saskatchewan.
Objective I: Conversion of Indicated Mineral Resources to
Measured Category
This current phase of the 2019 drilling program is targeting the
A2 and A3 High-Grade Domain mine planning sections at a spacing
between 9.0 m and 16.7 m. The target spacing incorporates the
results of a geostatistical data spacing report compiled by
Clayton V. Deutsch from Resource
Modeling Solutions based on 189 drill holes, totaling
121,923.15 m, which forms the basis
of the Indicated Mineral Resource of 256.6
M lbs at 4.04 % U3O8. All drill holes
are collared at a steep inclination, then shallowed out between
-55° and -60° before intersecting the target by utilizing
the latest in directional drilling technology.
Highlights:
A2 High-Grade Domains and Sub-zone
- AR-19-229c2 intersected 46.5
m of total composite mineralization including
12.05 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within
an 86.0 m section (602.0 to
688.0 m);
- AR-19-229c4 intersected 39.0
m of total composite mineralization including
8.55 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within
an 88.0 m section (578.0 to
666.0 m);
- AR-19-230c3 intersected 30.5
m of total composite mineralization including
7.55 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within a
93.0 m section (564.0 to 657.0 m). Additionally, of the 7.55 m of off-scale mineralization intersected in
the hole, 0.5 m of massive-to-semi
massive pitchblende with minimum-greater-than-61,000 cps;
- AR-19-235c1 intersected 43.0
m of total composite mineralization including
7.15 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within a
93.0 m section (517.0 to 610.0 m). Additionally, of the 7.15 m of off-scale mineralization intersected in
the hole, 3.0 m of massive-to-semi
massive pitchblende with minimum-greater-than-61,000 cps;
- AR-19-236c2 intersected 26.0
m of total composite mineralization including
6.35 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within
an 89.0 m section (579.0 to
668.0 m.
A3 High-Grade Domains
- AR-19-231c2 intersected 48.0
m of total composite mineralization including
5.75 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within a
102.0 m section (469.0 to
571.0 m);
- AR-19-232c3 intersected 26.0
m of total composite mineralization including
5.1 m of total composite off-scale
radioactivity (>10,000 to >61,000 cps) within an
89.0 m section (560.0 to 649.0 m).
Drill hole locations and schematics are shown in Figures 1 to 2,
drilling results can be found in Table 1. Drill hole descriptions
can be found at www.nexgenenergy.ca
Development, Permitting, Appointments, Activities &
Financial
- Expediting Arrow to Feasibility by a 2-stage (10 rig) high
density drilling program focused on mine optimization plans
based on Measured and Indicated mineral resources.
- As reported on April 29, 2019,
NexGen received acceptance of the Rook I Project Description
(Technical Proposal) by the Canadian Nuclear Safety Commission
("CNSC") and the Saskatchewan Ministry of Environment ("MOE"). The
acceptance marked the commencement of an Environmental Assessment
("EA") on the Rook I Project (the "Project") in accordance with the
requirements of both The Environmental Assessment Act (Province
of Saskatchewan) and the Canadian Environmental Assessment
Act, 2012 "CEAA 2012" (Government of Canada). The EA is being
conducted through a coordinated process between the MOE and the
CNSC, which is the Federal life-cycle regulator for all uranium
mine and mill projects in Canada.
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.
- The Company also announces the appointments of Gillian McCombie, Vice President Human Resources
and Arthur Lieu, MSc., P.Eng., Vice
President Processing and Metallurgy. Gillian brings over 25
years of experience in human resources in the international mining
and telecommunications sectors. Gillian most recently as Vice
President Human Resources at Capstone Mining and prior to that with
Telus and Placer Dome. Arthur joins NexGen having spent 20 years in
mine processing and metallurgy. Most recently, he was the
Chief Metallurgist at Cameco's Rabbit
Lake mill and Orano's McClean
Lake mill. Arthur holds a Bachelor of Science degree
in Chemical Engineering and a Master of Science degree in
Geochemistry, with a focus on source-term characteristic of uranium
waste rock piles at Cameco Key Lake uranium mine.
Mr. Lieu is also trained in Lean Six Sigma Black Belt
process improvement and optimization. Mr. Lieu is a
registered Professional Engineer (P.
Eng) with the Association of Professional Engineers and
Geoscientists of Saskatchewan
(APEGS).
- The Company had cash-on-hand of approximately $90
million which fully funds NexGen for all drilling,
feasibility and development programs planned this year.
Leigh Curyer, Chief Executive Officer, commented: "These
continuing high grade results received from sections of the ore
body focused on the mine plan, highlight the extraordinary high
grade and robustness of Arrow. In parallel, the
Feasibility-stage engineering, metallurgical and environmental
studies are all advancing extremely well, together with permitting
and our community programs. I would like to take the opportunity to
also welcome Arthur and Gill to the dedicated NexGen team. Two
highly experienced and successful professionals in their respective
fields joining NexGen at an incredibly exciting time as we begin to
see positive signs emerging in the uranium market."
Troy Boisjoli, Vice-President,
Operations and Project Development, commented: "The continuity of
mineralization within the high-grade core of Arrow is remarkable
and these results highlight the technical advantages at the Arrow
Deposit: mineralization hosted within stacked shear system
(allowing holes to intersect multiple targets with one drill hole,
minimizing total meterage), stable crystalline basement host rock,
and extremely high-grades. These high grade results in all twenty
holes will be incorporated into an updated Mineral Resource
Estimate which will form the basis of the Feasibility Study,
scheduled for release in H1 2020."
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-19-225c3
|
327
|
-65
|
283
|
N/A
|
452.5
|
454
|
1.5
|
<500 -
46000
|
|
|
|
|
|
481
|
481.5
|
0.5
|
<500 -
800
|
|
|
|
|
|
488
|
490
|
2
|
<500 -
700
|
|
|
|
|
|
494.5
|
498
|
3.5
|
<500 -
1050
|
|
|
|
|
|
501
|
501.5
|
0.5
|
<500 -
1200
|
|
|
|
|
|
586.5
|
602
|
15.5
|
<500 -
61000
|
|
|
|
|
|
610
|
610.5
|
0.5
|
<500 -
550
|
|
|
|
|
|
615.5
|
618.5
|
3
|
<500 -
1800
|
AR-19-229c1
|
327
|
-65
|
693
|
132.8
|
473
|
475
|
2
|
<500 -
1200
|
|
|
|
|
|
480.5
|
481
|
0.5
|
<500 -
600
|
|
|
|
|
|
488.5
|
489
|
0.5
|
1000 -
13000
|
|
|
|
|
|
495
|
495.5
|
0.5
|
<500 -
1240
|
|
|
|
|
|
501
|
502
|
1
|
<500 -
41500
|
|
|
|
|
|
504.5
|
509
|
4.5
|
<500 -
20200
|
|
|
|
|
|
511.5
|
513
|
1.5
|
<500 -
4000
|
|
|
|
|
|
516.5
|
520
|
3.5
|
<500 -
19800
|
|
|
|
|
|
522.5
|
533
|
10.5
|
<500 -
61000
|
|
|
|
|
|
535.5
|
538.5
|
3
|
<500 -
49000
|
|
|
|
|
|
543.5
|
546.5
|
3
|
<500 -
61000
|
|
|
|
|
|
549.5
|
550
|
0.5
|
1230 -
61000
|
|
|
|
|
|
570
|
570.5
|
0.5
|
<500 -
540
|
|
|
|
|
|
628.5
|
634
|
5.5
|
<500 -
61000
|
|
|
|
|
|
638
|
638.5
|
0.5
|
<500 -
610
|
|
|
|
|
|
642
|
645.5
|
3.5
|
<500 -
61000
|
|
|
|
|
|
651
|
675.5
|
24.5
|
<500 -
61000
|
AR-19-229c2
|
327
|
-65
|
309
|
N/A
|
494.5
|
495
|
0.5
|
<500 -
700
|
|
|
|
|
|
500.5
|
501
|
0.5
|
<500 -
2150
|
|
|
|
|
|
505
|
505.5
|
0.5
|
<500 -
680
|
|
|
|
|
|
508
|
508.5
|
0.5
|
<500 -
31000
|
|
|
|
|
|
514
|
514.5
|
0.5
|
<500 -
9400
|
|
|
|
|
|
517.5
|
519
|
1.5
|
<500 -
6000
|
|
|
|
|
|
524.5
|
525.5
|
1
|
<500 -
4000
|
|
|
|
|
|
530
|
536.5
|
6.5
|
<500 -
8590
|
|
|
|
|
|
541.5
|
542.5
|
1
|
580 -
52500
|
|
|
|
|
|
545
|
545.5
|
0.5
|
<500 -
3200
|
|
|
|
|
|
550.5
|
562.5
|
12
|
<500 -
61000
|
|
|
|
|
|
574.5
|
577
|
2.5
|
<500 -
2000
|
|
|
|
|
|
625
|
671.5
|
46.5
|
<500 -
61000
|
AR-19-229c3
|
327
|
-65
|
240
|
N/A
|
494.5
|
496
|
1.5
|
<500 -
14900
|
|
|
|
|
|
502
|
503
|
1
|
<500 -
53300
|
|
|
|
|
|
506.5
|
507.5
|
1
|
<500 -
19500
|
|
|
|
|
|
510
|
510.5
|
0.5
|
<500 -
800
|
|
|
|
|
|
513.5
|
514
|
0.5
|
<500 -
1100
|
|
|
|
|
|
517
|
518
|
1
|
<500 -
12100
|
|
|
|
|
|
522
|
524.5
|
2.5
|
<500 -
2800
|
|
|
|
|
|
529
|
531
|
2
|
<500 -
32600
|
|
|
|
|
|
539.5
|
541.5
|
2
|
<500 -
14100
|
|
|
|
|
|
544.5
|
549.5
|
5
|
<500 -
47900
|
|
|
|
|
|
558
|
561
|
3
|
<500 -
61000
|
|
|
|
|
|
563.5
|
565
|
1.5
|
<500 -
14000
|
|
|
|
|
|
571
|
573
|
2
|
<500 -
2100
|
|
|
|
|
|
579
|
586
|
7
|
<500 -
1500
|
|
|
|
|
|
592.5
|
594.5
|
2
|
<500 -
610
|
|
|
|
|
|
629.5
|
645.5
|
16
|
<500 -
61000
|
|
|
|
|
|
648
|
651.5
|
3.5
|
<500 -
4400
|
|
|
|
|
|
654
|
680
|
26
|
<500 -
61000
|
|
|
|
|
|
683
|
683.5
|
0.5
|
<500 -
1350
|
|
|
|
|
|
705
|
707
|
2
|
<500 -
930
|
|
|
|
|
|
711.5
|
718
|
6.5
|
<500 -
1300
|
AR-19-229c4
|
327
|
-65
|
465
|
N/A
|
404
|
405.5
|
1.5
|
<500 -
600
|
|
|
|
|
|
415.5
|
416
|
0.5
|
<500 -
820
|
|
|
|
|
|
464
|
466
|
2
|
<500 -
3150
|
|
|
|
|
|
471.5
|
472.5
|
1
|
<500 -
2300
|
|
|
|
|
|
480
|
486.5
|
6.5
|
<500 -
61000
|
|
|
|
|
|
489
|
489.5
|
0.5
|
<500 -
1300
|
|
|
|
|
|
494
|
499
|
5
|
<500 -
18600
|
|
|
|
|
|
501.5
|
505
|
3.5
|
<500 -
32000
|
|
|
|
|
|
508.5
|
510.5
|
2
|
<500 -
43000
|
|
|
|
|
|
516.5
|
531.5
|
15
|
<500 -
39000
|
|
|
|
|
|
613.5
|
652.5
|
39
|
<500 -
61000
|
AR-19-230c1
|
327
|
-65
|
651.5
|
128.35
|
499
|
499.5
|
0.5
|
<500 -
4800
|
|
|
|
|
|
502
|
502.5
|
0.5
|
<500 -
1200
|
|
|
|
|
|
515.5
|
522
|
6.5
|
<500 -
3200
|
|
|
|
|
|
524.5
|
532.5
|
8
|
<500 -
1700
|
|
|
|
|
|
566
|
566.5
|
0.5
|
<500 -
550
|
|
|
|
|
|
571
|
572
|
1
|
<500 -
1300
|
|
|
|
|
|
577
|
598.5
|
21.5
|
<500 -
61000
|
|
|
|
|
|
603
|
605.5
|
2.5
|
<500 -
1200
|
|
|
|
|
|
608
|
608.5
|
0.5
|
<500 -
1650
|
|
|
|
|
|
611
|
611.5
|
0.5
|
<500 -
1160
|
|
|
|
|
|
622
|
628.5
|
6.5
|
<500 -
1800
|
|
|
|
|
|
631.5
|
632
|
0.5
|
<500 -
6600
|
AR-19-230c2
|
327
|
-65
|
252.5
|
N/A
|
484
|
484.5
|
0.5
|
<500 -
750
|
|
|
|
|
|
496.5
|
501
|
4.5
|
<500 -
50200
|
|
|
|
|
|
522.5
|
523
|
0.5
|
<500 -
575
|
|
|
|
|
|
552
|
556.5
|
4.5
|
<500 -
740
|
|
|
|
|
|
559
|
563
|
4
|
<500 -
1400
|
|
|
|
|
|
570.5
|
572
|
1.5
|
<500 -
620
|
|
|
|
|
|
586
|
609.5
|
23.5
|
<500 -
61000
|
|
|
|
|
|
613.5
|
614.5
|
1
|
<500 -
3200
|
|
|
|
|
|
617
|
618
|
1
|
<500 -
750
|
|
|
|
|
|
621.5
|
630
|
8.5
|
<500 -
15600
|
|
|
|
|
|
636
|
636.5
|
0.5
|
<500 -
970
|
AR-19-230c3
|
327
|
-65
|
234
|
N/A
|
458
|
458.5
|
0.5
|
<500 -
1030
|
|
|
|
|
|
461.5
|
463.5
|
2
|
<500 -
820
|
|
|
|
|
|
474.5
|
475
|
0.5
|
<500 -
680
|
|
|
|
|
|
487
|
487.5
|
0.5
|
<500 -
910
|
|
|
|
|
|
504
|
504.5
|
0.5
|
<500 -
1030
|
|
|
|
|
|
521.5
|
524
|
2.5
|
<500 -
730
|
|
|
|
|
|
561.5
|
562.5
|
1
|
<500 -
1310
|
|
|
|
|
|
567.5
|
568
|
0.5
|
<500 -
510
|
|
|
|
|
|
592
|
614.5
|
22.5
|
<500 -
61000
|
|
|
|
|
|
619.5
|
623.5
|
4
|
<500 -
1280
|
|
|
|
|
|
626.5
|
628.5
|
2
|
<500 -
14500
|
|
|
|
|
|
654.5
|
655
|
0.5
|
<500 -
540
|
AR-19-231c1
|
327
|
-65
|
564.5
|
138
|
466
|
470.5
|
4.5
|
<500 -
14000
|
|
|
|
|
|
487.5
|
488
|
0.5
|
<500 -
500
|
|
|
|
|
|
497
|
505
|
8
|
<500 -
46000
|
|
|
|
|
|
510.5
|
511
|
0.5
|
<500 -
900
|
|
|
|
|
|
515.5
|
528
|
12.5
|
<500 -
58000
|
AR-19-231c2
|
327
|
-65
|
222.5
|
N/A
|
467.5
|
472.5
|
5
|
<500 -
38000
|
|
|
|
|
|
480.5
|
481
|
0.5
|
500 -
7500
|
|
|
|
|
|
485
|
488
|
3
|
<500 -
2700
|
|
|
|
|
|
491
|
493.5
|
2.5
|
<500 -
3100
|
|
|
|
|
|
498.5
|
499
|
0.5
|
500 -
6200
|
|
|
|
|
|
505.5
|
546.5
|
41
|
<500 -
61000
|
|
|
|
|
|
555
|
555.5
|
0.5
|
<500 -
770
|
AR-19-231c3
|
327
|
-65
|
261.5
|
N/A
|
505.5
|
506
|
0.5
|
<500 -
2100
|
|
|
|
|
|
509
|
523.5
|
14.5
|
<500 -
61000
|
|
|
|
|
|
527
|
528
|
1
|
<500 -
650
|
|
|
|
|
|
535.5
|
557
|
21.5
|
<500 -
61000
|
|
|
|
|
|
559.5
|
560.5
|
1
|
<500 -
1400
|
|
|
|
|
|
567.5
|
568
|
0.5
|
<500 -
560
|
|
|
|
|
|
571
|
571.5
|
0.5
|
<500 -
1100
|
AR-19-232c1
|
327
|
-65
|
642.5
|
138.8
|
211.5
|
212
|
0.5
|
<500 -
650
|
|
|
|
|
|
477.5
|
481.5
|
4
|
<500 -
2200
|
|
|
|
|
|
485.5
|
486.5
|
1
|
<500 -
600
|
|
|
|
|
|
493
|
494
|
1
|
<500 -
1700
|
|
|
|
|
|
506.5
|
507.5
|
1
|
<500 -
1450
|
|
|
|
|
|
517
|
520
|
3
|
<500 -
12000
|
|
|
|
|
|
534
|
537
|
3
|
<500 -
24000
|
|
|
|
|
|
544
|
544.5
|
0.5
|
2200 -
51000
|
|
|
|
|
|
548
|
552
|
4
|
<500 -
5300
|
|
|
|
|
|
563.5
|
565
|
1.5
|
<500 -
44000
|
|
|
|
|
|
568
|
570
|
2
|
<500 -
5700
|
|
|
|
|
|
574
|
574.5
|
0.5
|
<500 -
1800
|
|
|
|
|
|
577
|
577.5
|
0.5
|
<500 -
680
|
|
|
|
|
|
580.5
|
598
|
17.5
|
<500 -
23000
|
|
|
|
|
|
601
|
604
|
3
|
<500 -
3600
|
|
|
|
|
|
607.5
|
609.5
|
2
|
<500 -
1200
|
AR-19-232c2
|
327
|
-65
|
278.5
|
N/A
|
454.5
|
458
|
3.5
|
<500 -
2100
|
|
|
|
|
|
486
|
486.5
|
0.5
|
<500 -
660
|
|
|
|
|
|
492
|
495
|
3
|
<500 -
960
|
|
|
|
|
|
516
|
518.5
|
2.5
|
<500 -
7500
|
|
|
|
|
|
531.5
|
534.5
|
3
|
<500 -
14100
|
|
|
|
|
|
539.5
|
540
|
0.5
|
<500 -
5700
|
|
|
|
|
|
550
|
553
|
3
|
<500 -
61000
|
|
|
|
|
|
556
|
556.5
|
0.5
|
<500 -
1350
|
|
|
|
|
|
560.5
|
564
|
3.5
|
<500 -
39000
|
|
|
|
|
|
571
|
571.5
|
0.5
|
<500 -
720
|
|
|
|
|
|
574.5
|
594
|
19.5
|
<500 -
14200
|
|
|
|
|
|
599.5
|
600
|
0.5
|
<500 -
860
|
AR-19-232c3
|
327
|
-65
|
294.5
|
N/A
|
473
|
473.5
|
0.5
|
<500 -
620
|
|
|
|
|
|
483.5
|
484
|
0.5
|
<500 -
840
|
|
|
|
|
|
492
|
493.5
|
1.5
|
<500 -
2100
|
|
|
|
|
|
504.5
|
505.5
|
1
|
<500 -
960
|
|
|
|
|
|
519.5
|
520
|
0.5
|
<500 -
600
|
|
|
|
|
|
530
|
531.5
|
1.5
|
<500 -
31000
|
|
|
|
|
|
552
|
560.5
|
8.5
|
<500 -
61000
|
|
|
|
|
|
563
|
569.5
|
6.5
|
<500 -
17200
|
|
|
|
|
|
572
|
575.5
|
3.5
|
<500 -
15700
|
|
|
|
|
|
580.5
|
581
|
0.5
|
<500 -
690
|
|
|
|
|
|
589
|
592
|
3
|
<500 -
54600
|
|
|
|
|
|
599
|
599.5
|
0.5
|
<500 -
840
|
|
|
|
|
|
606
|
617.5
|
11.5
|
<500 -
61000
|
|
|
|
|
|
620
|
620.5
|
0.5
|
<500 -
1900
|
AR-19-233c3
|
327
|
-65
|
276.5
|
N/A
|
451
|
456.5
|
5.5
|
<500 -
980
|
|
|
|
|
|
459
|
466
|
7
|
<500 -
1500
|
|
|
|
|
|
468.5
|
469
|
0.5
|
<500 -
550
|
|
|
|
|
|
483
|
490
|
7
|
<500 -
43700
|
|
|
|
|
|
498.5
|
510.5
|
12
|
<500 -
17200
|
|
|
|
|
|
514
|
517.5
|
3.5
|
<500 -
1700
|
|
|
|
|
|
520.5
|
523.5
|
3
|
<500 -
3200
|
|
|
|
|
|
536.5
|
540
|
3.5
|
<500 -
1600
|
|
|
|
|
|
542.5
|
543
|
0.5
|
<500 -
600
|
AR-19-234c1
|
327
|
-65
|
522
|
127.5
|
472
|
491
|
19
|
<500 -
61000
|
AR-19-234c2
|
327
|
-65
|
177
|
N/A
|
471.5
|
503.5
|
32
|
<500 -
61000
|
AR-19-235c1
|
327
|
-65
|
620
|
132.7
|
425.5
|
427
|
1.5
|
<500 -
950
|
|
|
|
|
|
440.5
|
441.5
|
1
|
<500 -
4500
|
|
|
|
|
|
452.5
|
453.5
|
1
|
<500 -
660
|
|
|
|
|
|
456.5
|
462
|
5.5
|
<500 -
1300
|
|
|
|
|
|
478.5
|
479
|
0.5
|
<500 -
1400
|
|
|
|
|
|
492.5
|
509.5
|
17
|
<500 -
4500
|
|
|
|
|
|
526
|
526.5
|
0.5
|
<500 -
1200
|
|
|
|
|
|
534
|
534.5
|
0.5
|
<500 -
520
|
|
|
|
|
|
547.5
|
548
|
0.5
|
<500 -
510
|
|
|
|
|
|
563
|
585
|
22
|
<500 -
61000
|
|
|
|
|
|
588.5
|
590.5
|
2
|
<500 -
36000
|
|
|
|
|
|
605.5
|
606
|
0.5
|
<500 -
550
|
AR-19-236c1
|
327
|
-65
|
660.5
|
133.95
|
465
|
466.5
|
1.5
|
<500 -
17500
|
|
|
|
|
|
478.5
|
479
|
0.5
|
<500 -
510
|
|
|
|
|
|
500.5
|
501
|
0.5
|
<500 -
2200
|
|
|
|
|
|
503.5
|
504
|
0.5
|
<500 -
1060
|
|
|
|
|
|
515.5
|
521.5
|
6
|
<500 -
27500
|
|
|
|
|
|
525
|
525.5
|
0.5
|
510 -
1050
|
|
|
|
|
|
529.5
|
530
|
0.5
|
<500 -
630
|
|
|
|
|
|
586.5
|
587
|
0.5
|
<500 -
530
|
|
|
|
|
|
597
|
597.5
|
0.5
|
<500 -
780
|
|
|
|
|
|
600.5
|
619.5
|
19
|
<500 -
61000
|
|
|
|
|
|
624
|
624.5
|
0.5
|
<500 -
850
|
|
|
|
|
|
628.5
|
629.5
|
1
|
<500 -
1200
|
|
|
|
|
|
633.5
|
634
|
0.5
|
<500 -
760
|
|
|
|
|
|
637.5
|
642
|
4.5
|
<500 -
1650
|
|
|
|
|
|
660
|
660.5
|
0.5
|
<500 -
1070
|
AR-19-236c2
|
327
|
-65
|
321.5
|
N/A
|
457
|
457.5
|
0.5
|
<500 -
5000
|
|
|
|
|
|
465
|
465.5
|
0.5
|
<500 -
1170
|
|
|
|
|
|
468.5
|
469
|
0.5
|
<500 -
2650
|
|
|
|
|
|
472.5
|
474
|
1.5
|
<500 -
1300
|
|
|
|
|
|
478
|
478.5
|
0.5
|
<500 -
510
|
|
|
|
|
|
486.5
|
487.5
|
1
|
<500 -
3330
|
|
|
|
|
|
494
|
494.5
|
0.5
|
<500 -
1100
|
|
|
|
|
|
497
|
497.5
|
0.5
|
<500 -
710
|
|
|
|
|
|
502
|
502.5
|
0.5
|
<500 -
1330
|
|
|
|
|
|
509
|
519
|
10
|
<500 -
3770
|
|
|
|
|
|
522.5
|
530
|
7.5
|
<500 -
8900
|
|
|
|
|
|
573
|
573.5
|
0.5
|
<500 -
520
|
|
|
|
|
|
588
|
589
|
1
|
<500 -
610
|
|
|
|
|
|
600
|
601
|
1
|
<500 -
800
|
|
|
|
|
|
608.5
|
609
|
0.5
|
<500 -
510
|
|
|
|
|
|
613
|
617.5
|
4.5
|
<500 -
61000
|
|
|
|
|
|
621
|
629.5
|
8.5
|
<500 -
61000
|
|
|
|
|
|
639
|
642
|
3
|
<500 -
5700
|
|
|
|
|
|
645
|
650.5
|
5.5
|
<500 -
7700
|
|
|
|
|
|
653.5
|
654
|
0.5
|
<500 -
510
|
|
|
|
|
|
669.5
|
671
|
1.5
|
<500 -
5200
|
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
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.
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SOURCE NexGen Energy Ltd.