NexGen Releases First Assays from Recently Completed Arrow Drilling Program Including 12.0 m at 33.78% U3O8 and 8.0 m at 32.88% U3O8
NexGen Releases First Assays from Recently Completed Arrow Drilling
Program Including 12.0 m at 33.78% U3O8 and 8.0 m at 32.88% U3O8
Vancouver, BC, October 9, 2019 – NexGen Energy Ltd. (“NexGen” or the “Company”) ( TSX: NXE, NYSE MKT:
NXE) is pleased to report the first batch of assay results for twenty holes from the Company’s recently completed
Phase I Feasibility-stage drilling program at the 100% owned, Rook I Project in the Athabasca Basin ,
Saskatchewan.
The 2019 Arrow drilling program targeted the A2 and A3 High-Grade Domains to deliver an optimization of the
mine plan at a drill hole spacing of between 9 m and 17 m (based on a geostatistical data spacing report compiled
by Clayton V. Deutsch from Resource Modeling Solutions ). The holes are designed to in -fill the A2 high -grade
domain and elevate the resource from indicated to measured. All drill holes were collared at a steep inclination,
then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional
drilling technology. The results below highlight intersections through the A2 High -Grade Domains only, for
complete hole results please see results Table 1.
A2 High-Grade Domain Highlights
• AR-19-225c1 intersected 36.0 m at 11.36% U 3O8 (564.0 to 600.0 m) including 12.0 m at 33.78% U 3O8
(570.0 to 582.0 m). The target was intersected at a dip of -56.4° approximately 7.0 m up -dip from AR-
16-063c3 (15.0 m at 8.28% U3O8 and an additional 119 m at 2.3% U3O8);
• AR-19-221c1 intersected 26.0 m at 10.39% U 3O8 (523.5 to 549.5 m) including 8.0 m at 32.88% U 3O8
(527.5 to 535.5 m). The target was intersected at a dip of -57° approximately 9.0 m along strike to the
northeast of AR-16-111c1 (60.0 m at 4.70% U3O8 including 17.0 m at 15.79% U3O8);
• AR-19-224c1 intersected 21.0 m at 15.36% U 3O8 (554.5 to 575.5 m) including 14.0 m at 22.69% U 3O8
(554.5 to 568.5 m).. The target was intersected at a dip of -58.7° approximately 13.0 m up-dip from AR-
16-064c1 (48.5 m at 6.97% U3O8);
• AR-19-222c1 intersected 58.0 m at 4.12% U 3O8 (493.5 to 551.5 m) including 13.0 m at 17.14% U 3O8
(528.5 to 541.5 m). The target was intersected at a dip of -58.7° approximately 9.0 m up-dip from AR-
16-091c2 (40.5 m at 12.69% U3O8 including 25.0 m at 19.97% U3O8);
• AR-19-227c2 intersected 49.0 m at 2.93% U3O8 (460.0 to 509.0 m) including 3.0 m at 22.66% U3O8 (504.0
to 507.0 m). The target was intersected at a dip of -59.2° approximately 13.0 m down-dip from AR-19-
227c1 (44.0 m at 1.73% U3O8 including 7.0 m at 9.69% U3O8).
Drill hole locations are shown in Figure 1, full drilling results can be found in Table 1. Drill hole descriptions can
be found at www.nexgenenergy.ca
Development, Activities & Financial
• Expediting Arrow to Feasibility focusing on mine optimization plans based on Measured and Indicated
mineral resources.
• NexGen commenced an Environmental Assessment on the Rook I Project on April 29, 2019 in accordance
with the requirements of both the Environmental Assess ment Act and the Canadian Environmental
Assessment Act, 2012 (“CEAA 2012”) after receiving acceptance of the Rook I Project Description
(Technical Proposal) by the Canadian Nuclear Safety Commission (“CNSC”) and the Saskatchewan
Ministry of Environment (“SMOE”). 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.
• As of September 30, 2019, the Company had cash-on-hand of approximately $75 million which fully
funds NexGen for all drilling, feasibility and development programs planned this year.
• Recently completed winter 2019 Arrow drilling program was comprised of 131 holes totaling 57,282.4
m of which 117 drill holes, totaling 50,968 m. Fourteen drill holes totaling 6,314.4 m were primarily
designed to test the geotechnical and hydrogeological characteristics of the rock mass in areas of
proposed mine workings and UGTMF – these holes are still pending release.
Leigh Curyer, Chief Executive Officer, commented: “Today’s assay results from Arrow once again highlight the
continuity of high-grade intersections. The regular and uniform return of broad high grade intercepts is unique
especially when considering the basement hosted and land-based technical setting of the project. There are over
100 more assays pending to be released in the coming months to be incorporated into the Feasibility Study
scheduled for H1 2020. In parallel, the team is working on all aspects of the Environmental Assessment with
studies scheduled for completion in H2 2020. As recently reported by uranium industry observers, the uranium
market dynamics have improved significantly and are forecast to improve further in the short, medium and long
term. In addition, the expanding initiative to commercially deploy small modular reactors is seen as an important
measure to address the world’s climate change challenge in a safe, environmentally responsible manner. NexGen
is uniquely positioned for this initiative as we progress through development.”
Troy Boisjoli, Vice-President, Operations and Project Development, commente d: “The initial assay release from
our recently completed 2019 Feasibility-stage Arrow drill program continue s to deliver a continuation of high
grade mineralization across the A2 and A3 high-grade domains. When taking into account the shallow angle of
intersection using the latest in directional drill technology, these results today are among the very best ever
encountered at Arrow. Today’s results along with rest of the Arrow drilling program will be incorporated into the
updated Mineral Resource estimate for use in the Feasibility Study. The results demonstrate the strength of the
Arrow Deposit and of the drilling process – which is both time efficient and cost effective – and has achieve
significant results in a short period of time.”
Figure 1: Arrow and South Arrow Drill Hole Locations
Table 1: Arrow Deposit Drill Hole Data
Drill Hole
Athabasca Group - Basement
Unconformity Depth (m)
SRC Geoanalytical Results
Hole ID Azimuth Dip
Total
Depth
(m)
From
(m) To (m) Width
(m)
U3O8
(wt%)
AR-19-221c1 327 -65 576 129.5 431.50 433.50 2.0 0.08
442.50 449.50 7.0 0.02
477.50 487.50 10.0 0.03
495.50 498.50 3.0 0.06
502.50 507.50 5.0 0.01
510.50 517.50 7.0 0.11
523.50 549.50 26.0 10.39
incl. 527.50 535.50 8.0 32.88
556.50 557.50 1.0 0.01
AR-19-221c2 327 -65 597.5 N/A 408.00 408.50 0.5 0.05
426.50 430.50 4.0 0.06
437.50 438.50 1.0 0.02
441.50 442.50 1.0 0.01
479.00 480.00 1.0 0.017
484.00 489.00 5.0 0.01
494.00 523.00 29.0 0.07
540.00 563.00 23.0 1.86
incl. 541.00 548.00 7.0 4.22
591.50 592.00 0.5 0.021
AR-19-222c1 327 -65 597.5 133.45 400.50 404.50 4.0 0.07
422.00 426.00 4.0 0.05
437.50 440.50 3.0 0.18
445.50 482.50 37.0 0.08
incl. 456.50 459.50 3.0 0.48
489.50 490.50 1.0 0.02
493.50 551.50 58.0 4.12
incl. 528.50 541.50 13.0 17.14
incl. 544.50 547.50 3.0 2.73
557.50 559.50 2.0 0.14
576.50 577.50 1.0 0.03
581.50 582.50 1.0 0.01
AR-19-222c2 327 -65 594 N/A 405.00 406.00 1.0 0.03
412.00 413.00 1.0 0.04
417.00 418.00 1.0 0.16
433.00 471.00 38.0 0.14
474.00 493.00 19.0 0.03
497.00 539.00 42.0 3.83
incl. 509.00 522.00 13.0 11.81
incl. 534.00 535.00 1.0 2.41
543.00 547.00 4.0 0.50
incl. 544.00 545.00 1.0 1.90
AR-19-223c1 327 -65 588 133.6 435.00 439.00 4.0 0.06
442.00 443.00 1.0 0.01
446.00 460.00 14.0 0.20
464.00 487.00 23.0 0.02
490.00 529.00 39.0 0.09
532.00 549.00 17.0 1.82
incl. 539.00 542.00 3.0 8.45
553.00 561.00 8.0 0.17
567.00 571.00 4.0 0.05
AR-19-223c2 327 -65 615.5 N/A 428.50 438.50 10.0 0.01
444.50 467.50 23.0 0.08
incl. 455.50 460.50 5.0 0.25
472.50 475.50 3.0 0.01
478.50 481.50 3.0 0.01
487.50 516.50 29.0 0.04
522.50 531.50 9.0 0.02
536.50 558.50 22.0 4.48
incl. 541.50 550.50 9.0 10.79
564.50 576.50 12.0 0.32
incl. 567.50 568.50 1.0 2.44
581.50 583.50 2.0 0.01
AR-19-223c3 327 -65 586.5 N/A 417.50 418.00 0.5 0.04
425.00 426.00 1.0 0.08
435.00 448.00 13.0 0.08
451.00 460.00 9.0 0.12
462.50 465.00 2.5 0.02
468.50 470.50 2.0 0.03
473.00 495.00 22.0 0.04
498.00 551.00 53.0 0.67
incl. 536.00 545.00 9.0 3.58
559.00 566.00 7.0 1.20
incl. 562.00 564.00 2.0 3.96
570.00 575.00 5.0 0.02
AR-19-224c1 327 -65 597.5 129.45 443.00 456.00 13.0 0.03
465.00 466.00 1.0 0.04
469.00 474.00 5.0 0.09
497.50 506.50 9.0 0.04
509.50 512.50 3.0 0.03
519.50 551.50 32.0 0.04
incl. 549.50 550.50 1.0 0.35
554.50 575.50 21.0 15.36
incl. 554.50 568.50 14.0 22.69
AR-19-224c2 327 -65 612.5 N/A 441.00 454.00 13.0 0.04
462.00 464.00 2.0 0.01
476.00 479.00 3.0 0.17
492.00 503.00 11.0 0.08
506.00 509.00 3.0 0.04
512.00 514.00 2.0 0.02
518.00 519.00 1.0 0.03
523.00 532.00 9.0 0.01
538.00 572.00 34.0 8.96
incl. 550.00 564.00 14.0 20.99
580.00 586.00 6.0 0.21
incl. 582.00 583.00 1.0 1.07
AR-19-225c1 327 -65 627.5 128.7 450.00 450.50 0.5 0.03
474.00 474.50 0.5 0.01
494.00 496.00 2.0 0.02
500.00 507.00 7.0 0.04
520.00 526.00 6.0 0.05
531.00 532.00 1.0 0.13
536.00 542.00 6.0 0.01
545.00 546.00 1.0 0.16
554.00 556.00 2.0 0.02
559.00 561.00 2.0 0.02
564.00 600.00 36.0 11.36
incl. 570.00 582.00 12.0 33.78
AR-19-225c2 327 -65 636.5 N/A 472.50 474.50 2.0 0.04
478.50 480.50 2.0 0.13
530.50 536.50 6.0 0.02
556.50 598.50 42.0 3.08
incl. 574.50 589.50 15.0 8.31
601.50 607.50 6.0 0.02
AR-19-226c1 327 -65 564.5 131.5 362.00 363.00 1.0 0.02
446.50 447.50 1.0 0.04
456.50 468.50 12.0 0.03
472.50 473.50 1.0 0.13
480.50 483.50 3.0 0.03
491.50 508.50 17.0 0.11
incl. 506.50 508.50 2.0 0.35
512.50 528.50 16.0 9.65
incl. 512.50 516.50 4.0 32.75
536.50 539.50 3.0 0.41
AR-19-226c1a 327 -65 177 144.15 No Anomolous Radioactivity
AR-19-226c2 327 -65 567 N/A 453.00 454.50 1.5 0.02
457.50 458.00 0.5 0.03
463.00 469.00 6.0 0.02
474.50 475.00 0.5 0.02
489.50 523.50 34.0 2.34
incl. 512.50 522.50 10.0 7.64
526.50 530.50 4.0 0.06
541.50 542.50 1.0 0.01
547.00 549.00 2.0 0.15
553.00 554.00 1.0 0.01
AR-19-227c1 327 -65 525.5 138.3 440.00 447.00 7.0 0.02
450.00 453.00 3.0 0.01
463.00 507.00 44.0 1.72
incl. 476.00 483.00 7.0 9.69
AR-19-227c2 327 -65 540.5 N/A 429.00 430.00 1.0 0.01
439.00 441.00 2.0 0.03
454.00 456.00 2.0 0.02
460.00 509.00 49.0 2.93
incl. 479.00 482.00 3.0 5.13
incl. 489.00 492.00 3.0 4.08
incl. 497.00 500.00 3.0 9.06
incl. 504.00 507.00 3.0 22.66
513.00 518.00 5.0 0.57
AR-19-228c1 327 -65 663.5 134 458.00 484.00 26.0 0.19
incl. 462.00 467.00 5.0 0.52
487.00 488.00 1.0 0.08
492.00 493.00 1.0 0.07
504.00 506.00 2.0 0.04
512.00 524.00 12.0 0.52
incl. 514.00 519.00 5.0 1.04
535.00 536.00 1.0 0.01
548.00 554.00 6.0 0.01
567.00 570.00 3.0 0.03
575.00 582.00 7.0 0.10
598.00 625.00 27.0 2.56
incl. 613.00 623.00 10.0 6.76
629.00 639.00 10.0 0.50
incl. 629.00 632.00 3.0 1.61
646.00 649.00 3.0 0.03
652.00 654.00 2.0 0.01
658.00 661.00 3.0 0.03
AR-19-228c2 327 -65 672.5 N/A 459.50 481.50 22.0 0.33
incl. 464.50 469.50 5.0 0.90
486.50 487.00 0.5 0.02
509.00 511.00 2.0 0.09
515.00 536.00 21.0 0.33
incl. 519.00 521.00 2.0 1.45
557.50 558.00 0.5 0.01
560.50 563.50 3.0 0.01
573.50 575.50 2.0 0.01
581.00 585.00 4.0 0.02
597.00 610.00 13.0 0.03
616.00 627.00 11.0 5.76
incl. 624.00 627.00 3.0 18.84
630.00 634.00 4.0 0.10
637.00 663.00 26.0 0.26
incl. 641.00 645.00 4.0 1.30
AR-19-233c1 327 -65 534.5 133.7 447.50 450.50 3.0 0.22
453.50 491.50 38.0 1.85
incl. 472.50 480.50 8.0 4.02
incl. 489.50 491.50 2.0 5.97
494.50 503.50 9.0 0.37
incl. 500.50 501.50 1.0 3.05
508.50 509.50 1.0 0.04
AR-19-233c2 327 -65 537.5 N/A 457.00 511.00 54.0 1.96
incl. 473.00 489.00 16.0 5.85
522.00 523.00 1.0 0.04
Parameters:
• Maximum internal dilution 2.0 m downhole
• Minimum thickness of 0.5 m downhole
• Cutoff grade 0.01% U3O8
• All depths and intervals are metres downhole, true thicknesses are yet to be determined. Resource modelling in conjunction
with an updated mineral resource estimate is required before true thicknesses can be determined
• Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip