NexGen Makes Significant New Discoveries of Near Arrow Mineralization Northwest and Along Strike in Winter Drill Campaign
NexGen Makes Significant New Discoveries of Near Arrow
Mineralization Northwest and Along Strike in Winter Drill Campaign
Vancouver, BC, May 2, 2018 – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, NYSE MKT:NXE)
is pleased to report radioactivity results for fifty-four holes comprising 30,208 m from Arrow, South Arrow and
regional exploration as part of our now concluded winter drilling program on our 100% owned, Rook I property,
in the Athabasca Basin, Saskatchewan.
Highlights:
Discovery of A0 Shear
Follow up drilling to the northwest of the Arrow deposit (where hole GAR -17-001 recently discovered
mineralization that returned 8.0 m at 1.43% U 3O8) has successfully confirmed mineralization in a new shear
named the “A0 Shear”.
• AR-18-187c3 intersected 33.0 m of total composite mineralization including 0.3 m of total composite
off-scale radioactivity (>10,000 to 17,000 cps) within a 67.5 m section (535.5 to 603.0 m) in the A0
shear.
New Mineralization Intersected 160 m Northwest of the AO Shear
Furthermore, the last hole of the 2018 winter pr ogram intersected off-scale mineralization 160 m northwest
of the A0 shear. This new area of mineralization has yet to be defined, meaning the northwest remains
completely open and untested for the future expansion of the Arrow Deposit.
• AR-18-208c1 intersected 10.5 m of total composite mineralization including 0.2 m of total composite
off-scale radioactivity (>10,000 to 32,800 cps) within a 182.5 m section (562.0 to 744.5 m) northwest
of the A0 shear zone.
Mineralization Intersected to the Northeast of the A1 and A2 Shears
Drilling focused to the northeast of the Arrow Deposit, testing 50 m along strike from known mineralization at
varying elevations intersected significant mineralization within the A1 and A2 shears. The systematic step-outs
to the no rtheast show that Arrow remains largely open and untested at these elevation s in the A1 and A2
shears.
• AR-18-189c4 intersected 40.0 m of total composite mineralization including 3.9 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) wit hin a 54.0 m section (820.0 to 874.0 m) in the A1
and A2 shears. The hole successfully expanded both the A1 and A2 shear zones to the northeast of
existing A1 and A2 inferred resource grade shells.
A2 Shear Expansion
• AR-18-186c1 intersected 28.5 m of total composite mineralization including 5.3 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within a 45.0 m section (507.5 to 552.5 m) in the A2
shear. The hole successfully expanded the thickness of the A2 shear zone to the northeas t of the
current A2 Inferred resource grade shells.
• AR-18-200c2 intersected 36.0 m of total composite mineralization including 5.1 m of total composite
off-scale radioactivity (>10,000 to >61,000 cps) within a 43.0 m section (739 to 782.0 m) in the A2
shear. The hole expanded the thickness of the A2 shear zone, down -dip from the existing A2 high -
grade domain.
A3 Shear Infill
Positive infill drill results from the A3 high -grade domains continued, where the objective was to convert
Inferred to Indicated Mineral Resources, where the Indicated Mineral Resources only will be incorporated into
the Pre-Feasibility Study scheduled for Q3/2018 release.
• AR-18-202c1 intersected 40.0 m of total composite mineralization including 4.55 m of total
composite off-scale radioactivity (>10,000 to >61,000 cps) within a 11 9.5 m section (477.5 to 597.0
m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an
objective to convert Inferred to Indicated Mineral Resources.
• AR-18-186c2 intersected 55.0 m of total composite mineralization including 3.75 m of total
composite off-scale radioactivity (>10,000 to >61,000 cps) within a 123.0 m section (393.0 to 516.0
m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an
objective to convert Inferred to Indicated Mineral Resources.
• AR-18-197c3 intersected 40.0 m of total composite mineralization including 3.55 m of total
composite off-scale radioactivity (>10,000 to >61,000 cps) within a 116.5 m s ection (595.0 to 711.5
m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an
objective to convert Inferred to Indicated Mineral Resources.
Regional Exploration
South Arrow
Expansion drilling intersected mineralization including off -scale radioactivity which was 175 m southwest of
the main zone of mineralization at South Arrow. The target area remains prospective for future exploration
and expansion.
• AR-18-199c1 intersected 9.5 m of total composite mineralization including 0.1 m of total composite
off-scale radioactivity (>10,000 to 13,500 cps) within a 32.5 m section (345.5 to 378.0 m).
Patterson Conductor Corridor
Regional drilling on the Patterson Corridor focused on two high priority target areas, which included Mirror
and the Arrow VTEM Conductor. The Mirror target area is located 1.5 km southeast of the Arrow Deposit along
a parallel conductor. The drill holes i n the area successfully intersected the targeted VTEM conductor but did
not encounter significant uranium mineralization. The Arrow Conductor is situated approximately 2.5 km
southwest and along strike from the Arrow Deposit, hosted within the same VTEM co nductor. Arrow -type
silicified semi-pelitic gneiss was intersected throughout in all of the 6 holes drilled in the area. Moderate to
intense sericitic alteration, similar to Arrow -type alteration found proximal to the Arrow deposit was
intersected in several of the drill holes.
Drill hole locations and long sections are shown in Figures 1 to 4. Drill hole descriptions can be found at
www.nexgenenergy.ca
Development, Activities & Financial
• The Arrow Deposit remains open in most directions, with high potential for future high-grade
discoveries in close proximity to existing mineral resources.
• Pre-feasibility staged technical studies including geotechnical work, hydrogeological work, and
metallurgy continue in advance of the updated Mineral Resource Estimate and maiden Pre-
Feasibility Study scheduled for the end of Q3 / early Q4 2018.
• The Company has cash on hand of approximately ~$150 million.
Troy Boisjoli, Vice-President, Operations and Project Development, commented: “The four winter 2018 drill
program objectives were successfully reached. Two significant exploration initiatives resulted in the discovery
of an A0 shear zone, and secondly testing 160 m nor thwest of the A0 shear has also intersected intense
mineralization within another, yet to be defined zone which remains open. Additionally, expansion of Mineral
Resources within the A1 and A2 shear zones from the AR-18-189 series holes demonstrate Arrow remains open
on strike. The continued success of resource expansion and near Arrow exploration drilling, from my
experience, indicates the absolute scale of the Arrow Depos it will not be fully realized without significantly
more drilling and ultimately, not until underground. Furthermore, the infill drilling highlights the robustness of
the Arrow Mineral Resource model and has maximized available Indicated Mineral Resources for the purpose
of the maiden Pre-Feasibility Study. Regional exploration testing along strike from the Arrow Deposit
successfully intersected prospective, Arrow -type alter ation and lithological packages which highlights the
potential for future discoveries along the Patterson Lake Corridor. The team is looking forward to testing the
new A0 shear, northwest of the A0, northeast of the A1 and A2 and to the southwest of Arrow during summer
2018. ”
Leigh Curyer, Chief Executive Officer, commented: “The targeted winter drill campaign focused on converting
Inferred to Indicated, expanding the overall footprint in previously untested areas and understanding future
growth potential of Arrow. All of these were successfully achieved and with the discovery of the A0, intense
mineralization 160m to the northwest of the A0, and to the northeast of the A1 and A2 shears, suggests
substantial drilling is required to determine the ultimate extent of Arrow . Troy and his team are already in
planning for a summer 2018 exploration and development program.”
Figure 1: Arrow and South Arrow Drill Hole Locations
Figure 2: A1 Shear Mineralized Long Section
Figure 3: A2 Shear Mineralized Long Section
Figure 4: A3 Shear Mineralized Long Section