nexgen commences largest drill program at arrow...
TRANSCRIPT
NexGenCommencesLargestDrillProgramatArrowandExpandsSiteInfrastructureatRookI
Vancouver, BC, January 7, 2016 – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSXV:NXE,OTCQX:NXGEF) is pleased to announce the winter 2016 drill program has now commenced at the 100%owned, Rook I Property, Athabasca Basin, Saskatchewan. In addition, the Rook I camp has undergonesignificant improvements leading into this year’s program to facilitate an increase in the number of rigs,improvelogisticalsupportandthecontinuedoptimizationofoperations.
Thewinter2016drillprogramwillcompriseof30,000mofdrillingandanincreasetosixdiamonddrillrigsmakingitthemostnumberofrigseveroperatedatArrow.TheCompanyhascashonhandofapproximately$34MasatJanuary1,2016.
Therearethreeprimaryobjectivesofthewinter2016drillprogrambudgetedat$12M;
1. CoredrillingatArrowZone;a. DelineatingthehighergradeA2sub-zone(the“Sub-Zone”),b. DrilltestingextensionsoftheA2andA3high-gradeshearsfurthersouthwest,c. Testingforflatlyingmineralizationatthebasementunconformityfurthernortheast.
2. Step-outdrillingalongstrikefromtheArrowzonealongthe9kmPattersoncorridoronRookI.3. DrilltheBowdiscovery.
LeighCuryer,ChiefExecutiveOfficer,commented:“Giventhesuccessful2015resultsatArrow,ithasclearlyjustified expanding the drilling program and improving camp infrastructure at Rook I to support thecontinuedoptimizationof theproject. Theadditionofasixth rigmakes thiswinter’sprogramthe largestever atArrow. Moreover,wehave initiatedbaseline environmentalmonitoring studies,metallurgical andgeotechnicalstudiesfor2016.ItisgoingtobeaveryexcitingyearfortheCompanyandshareholders.”
CoreDrillingatArrowZone:
Three rigs have commenced drilling at the Arrow zone with all three using Devico directional drillingtechnologywiththeassistanceofTECHDirectionalServicesInc. TwooftherigsarefocusedondelineatingtheSub-Zonewhichwasdiscoveredduringthesummer2015drillprogramandisazoneofcontinuoushighergradeuraniummineralizationspanning203minstrikelengththatbeginsat lessthan400mbelowsurfaceandremainsopeninalldirections.Thethirdrigisfocusedonexpandinghigh-gradeuraniummineralizationwithintheA2andA3shearsfurthertothesouthwest.
AfourthrigscheduledtocommenceonJanuary14thwill initiallyfocusinandaroundholeAR-15-36whereuranium mineralization was intersected just 4.0 m below the Athabasca Sandstone and basementunconformity.Theseholeswillbetestingforflat-lyingmineralizationattheunconformityinanareathatisup-plungefromknownbasementmineralization.
DrillingAlongStrikeofArrowZoneandPattersonCorridor:
Afifthrig,scheduledtocommencelateJanuary,willsystematicallytestalongstrikeoftheVTEMconductorthathoststheArrowzonebothtothesouthwestandnortheastwheretherearenumeroustargetareaswithsimilargeophysicalcharacteristicsasArrow.ThiswillincorporateNexGen’sdrillingphilosophyofaggressivestep-outstotesttheaerialextentofmineralizationwhichwouldthenbefollowedbydelineation.
DrillingBowDiscoveryandProspectiveAnomaliesonPattersonLake:
A sixth rig is scheduled tocommence inearlyFebruary to further test theBowdiscoveryandotherhighlyprospectiveradon,VTEM,magneticandgravityanomaliesonPattersonLake.DrillingatBowwillcommencewheniceconditionspermitandwillbeginwithstep-outdrillingfromknownmineralizationinholeBO-15-10whichreturned9.5mat0.20%U3O8including1.0mat1.44%U3O8(seeNewsReleasedatedJune30,2015).FurtherdrillingwilltestcoincidentVTEMandradon-in-lakewateranomaliesandstructuraltrapsinterpretedfrompreviousdrillingandgeophysicalsurveys.
OtherActivitiesin2016:
Beyondthislargewinter2016drillcampaign,theCompanywillcontinuebaselineenvironmentalmonitoringaswell as initiatemultiple geotechnical andmetallurgical testingduring2016whichwill form thebasis offuturestudies. Additionally,theCompanywillcontinueactiveengagementwithlocalstakeholdersandhasappliedforpermitstobuildanall-weatheraccessroadtotheRookIcamptofacilitateimprovedsitelogistics,efficiency,safetyandsupporttotheproject.
ThetechnicalinformationinthisnewsreleasehasbeenpreparedinaccordancewiththeCanadianregulatoryrequirements set out in National Instrument 43-101 and reviewed on behalf of NexGen Energy Ltd., byGarrettAinsworth,P.Geo.,VicePresident–Exploration&Development,aqualifiedperson.
AboutNexGenNexGen isaBritishColumbia corporationwitha focuson theacquisition,explorationanddevelopmentofCanadianuraniumprojects.NexGenhasahighlyexperiencedteamofuraniumindustryprofessionalswithasuccessfultrackrecordinthediscoveryofuraniumdepositsandindevelopingprojectsthroughdiscoverytoproduction.NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin,Saskatchewan,Canada,includinga100%interestinRookI,locationoftheArrowDiscoveryinFebruary2014andBowDiscoveryinMarch2015.LeighCuryerChiefExecutiveOfficerNexGenEnergyLtd.+16044284112lcuryer@nexgenenergy.cawww.nexgenenergy.caTravisMcPhersonCorporateDevelopmentManagerNexGenEnergyLtd.+16048162686tmcpherson@nexgenenergy.cahttp://www.nexgenenergy.caTheTSXVhasneitherapprovednordisapprovedthecontentsofthispressrelease.NeithertheTSXVnorits
RegulationServicesProvider(asthattermisdefinedinthepoliciesoftheTSXV)acceptsresponsibilityforthe
adequacyoraccuracyofthisrelease.
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securities legislation. “Forward-lookinginformation”includes,but isnot limitedto,statementswithrespect
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Such forward-looking information and statements are based on numerous assumptions, including among
others, that the results of planned exploration activities are as anticipated, the price of uranium, the
anticipated cost of planned exploration activities, that general business and economic conditions will not
changeinamaterialadversemanner,thatfinancingwillbeavailableifandwhenneededandonreasonable
terms, and that third party contractors, equipment and supplies and governmental and other approvals
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ormakingforward-lookingstatementsareconsideredreasonablebymanagementatthetime,therecanbe
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Forward-looking information and statements also involve known and unknown risks and uncertainties and
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explorationprogramsbaseduponresults,availabilityofthirdpartycontractors,availabilityofequipmentand
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phenomenaandotherrisksassociatedwiththemineralexplorationindustry,environmentalrisks,changesin
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