NXE.TO/NXGEF - NexGen Energy Ltd. - Hole AR-16-81c3 Returns 23.0 m at 17.19% U3O8 including 5.0 m at 49.27% U3O8 including High Grade Gold at the Arrow Deposit
They keep finding lots of that stuff that will make you warm inside (if you swallowed it)
Highlights:
A2 Sub-Zone
Extensive and continuous high grade uranium mineralization in the higher grade A2 sub-zone (the "Sub-Zone) is confirmed with 2 assay results reported herein.
AR-16-81c3 (127 m up-dip and southwest from AR-15-44b) intersected 23.0 m at 17.19% U3O8 including 9.5 m at 39.82% U3O8 and 5.0 m at 49.27% U3O8.
AR-16-86c1 (84 m up-dip and southwest from AR-15-44b) intersected 44.5 m at 8.85% U3O8 including 19.0 m at 20.40% U3O8 and 5.0 m at 39.52% U3O8.
A2 Shear High Grade Domain
AR-16-80c4 (110 m up-dip and southwest from AR-15-44b) intersected 25.0 m at 6.38% U3O8 including 10.0 m at 14.66% U3O8.
AR-16-84c2 (33 m up-dip and northeast from AR-15-44b) intersected 39.0 m at 2.10% U3O8 including 18.5 m at 4.27% U3O8.
AR-16-84c3 (34 m up-dip and northeast from AR-15-44b) intersected 31.0 m at 3.26% U3O8 including 18.0 m at 5.58% U3O8 and 6.5 m at 10.89% U3O8.
AR-16-85c1 (90 m up-dip and southwest from AR-15-44b) intersected 24.0 m at 4.40% U3O8 including 3.5 m at 29.15% U3O8.
Substantial mineralization was intersected completely outside the current boundary of the A2 high grade domain in six holes (Figure 1). There is significant potential for continued expansion and this will be a focus of the 35,000 m summer drilling program.
High Grade Gold
High grade assays intersected in the A2 shear also contain high grade gold and silver values, with individual 0.5 m samples ranging from below detection limits up to 90.4 g/t Au and 418 g/t Ag (Table 1). Hole AR-16-81c3 returned 9.5 m at 7.9 g/t Au and AR-16-86c1 returned 20.4 m at 1.9 g/t Au. Also of significant importance, geochemical analyses continue to show very low concentrations of deleterious elements (arsenic, antimony, selenium), which is a favourable characteristic for processing of uranium ores in the Athabasca Basin.
A three-dimensional view of the A2 High Grade Domain, a plan map, and the A2 long section are shown in Figures 1 to 3.
Arrow, Activities & Financial
The land-based and basement hosted Arrow Deposit currently covers an area of 870 m by 280 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in most directions and at depth.
The summer 2016 program comprising 35,000 m of drilling is underway with six drill rigs active. A seventh drill rig will be put into service imminently.
The Company has cash on hand of approximately $100 million.
Garrett Ainsworth, Vice-President, Exploration and Development, commented "Our winter drilling program has exceeded all of our expectations. As shown in Figure 1, drill holes -81c3 and -86c1 are on the very edges of the A2 high grade domain where substantial intervals of high grade uranium are completely outside the high grade domain. We look forward to delivering continued success throughout the summer program and beyond."
Leigh Curyer, Chief Executive Officer commented: "Assay results today continue to show the robustness of the A2 Sub-Zone which continuously returns high uranium grades on a world scale. These results are also inclusive of significant gold values and very low deleterious elements which is a favourable characteristic for processing of uranium ores in the Athabasca Basin."
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