EX-99.1 2 ex991.htm NEWS RELEASE DATED MARCH 28, 2019

Exhibit 99.1

 

 

 

 

NexGen Intersects Continuous and Strong High-Grade Mineralization in all of the Initial A2 Sub-Zone Targets from Feasibility Stage Drilling

VANCOUVER, March 28, 2019 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity results for the first twenty holes comprising 8,216.5 m from the Company's first phase of Feasibility-stage drilling program at our 100% owned, Rook I property in the Athabasca Basin Saskatchewan.

Highlights:

Objective I: Conversion of Indicated to Measured in the A2 Sub-Zone

Nineteen targets have been successfully intersected within the A2 Sub-Zone. This current phase of the program focuses on targets intersected at a spacing between 9.0 m and 16.7 m (based on geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions) for Indicated Mineral Resources to be elevated to a Measured Mineral Resource classification.  All drill holes intersected the target between -55° and -60° utilizing the latest in directional drilling technology.  

The highlights below include composite and off-scale radioactivity results from the A2 Shear only, for radioactivity results for the entire hole see Table 1: Arrow Deposit Drill Hole Data.

  • AR-19-225c1 intersected 38.0 m of total composite mineralization including 10.15 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 91.0 m section (529.0 to 620.0 m) in the A2 Sub-Zone. Additionally, of the 10.15 m of off-scale mineralization intersected in the hole 7.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-224c1 intersected 37.5 m of total composite mineralization including 10.8 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 97.0 m section (496.0 to 593.0 m) in the A2 Sub-Zone. Additionally, of the 10.8 m of off-scale mineralization intersected in the hole 4.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-224c2 intersected 47.0 m of total composite mineralization including 12.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 98.0 m section (453.0 to 551.0 m) in the A2 Sub-Zone. Additionally, of the 12.55 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-19-225c2 intersected 35.0 m of total composite mineralization including 11.05 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 92.0 m section (540.0 to 632.0 m) in the A2 Sub-Zone. Additionally, of the 11.05 m of off-scale mineralization intersected in the hole 1.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-223c2 intersected 43.5 m of total composite mineralization including 5.5 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 97.0 m section (486.0 to 583.0 m) in the A2 Sub-Zone. Additionally, of the 5.5 m of off-scale mineralization intersected in the hole 1.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-227c2 intersected 54.0 m of total composite mineralization including 9.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 98.0 m section (419.0 to 517.0 m) in the A2 Sub-Zone. Additionally, of the 9.75 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-19-228c1 intersected 36.0 m of total composite mineralization including 4.25 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 87.0 m section (569.0 to 656.0 m) in the A2 Sub-Zone. Additionally, of the 4.25 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-19-226c1 intersected 46.0 m of total composite mineralization including 6.4 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 100.0 m section (447.0 to 547.0 m) in the A2 Sub-Zone.
  • AR-19-233c2 intersected 49.0 m of total composite mineralization including 9.45 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 99.0 m section (414.0 to 513.0 m) in the A2 Sub-Zone.

Drill hole locations and schematics are shown in Figures 1 and 2. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Activities & Financial

  • Expediting Arrow to Feasibility by initiation of a 2-stage 125,000m (10 rig) high density drilling program that commenced in mid-December 2018 to focus on mine optimization plans based on Measured and Indicated mineral resources.   
  • The Company has approximately $100 million in the treasury which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: "This development focused drilling continually highlights the incredible nature and strength of Arrow in terms of the continuity of high grade uranium.  Intersecting the type of mineralization reported in today's release with such regularity is simply unique and continually increases the technical strength of Arrow.  We look forward to delivering the results of the 10 rig program throughout 2019."

Troy Boisjoli, Vice-President, Operations and Project Development, commented: "These results demonstrate the confidence in the continuation of high-grade uranium mineralization within the A2 Sub-Zone. This initial release is just the beginning of what will surely be another highly successful 2019 program as the Company moves towards completing the Feasibility Study which will incorporate an updated mineral resource estimate based on the 2019 drill campaign which is the largest in the Company's history."  

Figure 1: Arrow and South Arrow Drill Hole Locations (CNW Group|NexGen Energy Ltd.)

Figure 1: Arrow and South Arrow Drill Hole Locations (CNW Group/NexGen Energy Ltd.)

Figure 2: Target Area for Objective I of the 2019 Feasibility Stage Drill Program (CNW Group|NexGen Energy Ltd.)

Figure 2: Target Area for Objective I of the 2019 Feasibility Stage Drill Program (CNW Group/NexGen Energy Ltd.)

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-19-221c1 327 -65 576 129.5 432.5 433.5 1 <500 -  990
          442.5 446 3.5 <500 -  1100
          448.5 449 0.5 <500 -  620
          478.5 479.5 1 <500 -  580
          485 486 1 <500 -  780
          495.5 497.5 2 <500 -  1340
          506.5 507 0.5 <500 -  670
          511 517.5 6.5 <500 -  2200
          524.5 549 24.5 <500 -  61000
          554.5 555 0.5 <500 -  1180
AR-19-221c2 327 -65 597.5 N/A 426.5 430.5 4 <500 -  2100
          437.5 438 0.5 <500 -  680
          484 484.5 0.5 <500 -  1100
          495.5 501 5.5 <500 -  1000
          506 522.5 16.5 <500 -  1500
          540 559.5 19.5 <500 -  61000
          562 562.5 0.5 <500 -  1200
          591.5 592 0.5 <500 -  550
AR-19-222c1 327 -65 597.5 133.45 401.5 404 2.5 <500 -  1400
          422 425.5 3.5 <500 -  2600
          437.5 439 1.5 <500 -  10800
          447 447.5 0.5 <500 -  1000
          450.5 482 31.5 <500 -  7400
          494.5 551 56.5 <500 -  61000
          557.5 559 1.5 <500 -  3720
          577 577.5 0.5 <500 -  560
AR-19-222c2 327 -65 594 N/A 412.5 413 0.5 <500 -  1100
          417.5 418 0.5 <500 -  2800
          433 437.5 4.5 <500 -  1350
          443.5 453.5 10 <500 -  32000
          456 457.5 1.5 <500 -  2100
          461.5 463 1.5 <500 -  3000
          466 471 5 <500 -  6900
          474.5 478 3.5 <500 -  1600
          480.5 490 9.5 <500 -  1150
          492.5 493 0.5 <500 -  1250
          497 523 26 <500 -  61000
          528.5 538.5 10 <500 -  37000
          543.5 546.5 3 <500 -  18600
AR-19-223c1 327 -65 588 133.6 435 438.5 3.5 <500 -  1300
          446 449.5 3.5 <500 -  2700
          453 460 7 <500 -  6900
          464.5 468 3.5 <500 -  3800
          474 476.5 2.5 <500 -  1400
          485.5 486 0.5 900 -  1280
          490 495.5 5.5 <500 -  5500
          498.5 503.5 5 <500 -  1380
          509.5 519.5 10 <500 -  3000
          522.5 528.5 6 <500 -  1300
          532 549 17 <500 -  61000
          553 556.5 3.5 <500 -  3800
          559 560.5 1.5 <500 -  4300
          569 570.5 1.5 <500 -  1600
AR-19-223c2 327 -65 615.5 N/A 434.5 438 3.5 <500 -  640
          444.5 446 1.5 <500 -  1000
          451.5 453 1.5 <500 -  1700
          455.5 462 6.5 <500 -  17000
          466.5 467.5 1 <500 -  2800
          473 475 2 <500 -  740
          479 483.5 4.5 <500 -  560
          488 491 3 <500 -  1500
          499 502 3 <500 -  1000
          508.5 515 6.5 <500 -  3300
          539.5 552.5 13 <500 -  61000
          555 558 3 <500 -  34200
          565 572 7 <500 -  31000
          574.5 576 1.5 <500 -  870
AR-19-223c3 327 -65 586.5 N/A 417.5 418 0.5 <500 -  700
          425 426 1 <500 -  920
          435 444.5 9.5 <500 -  6900
          452 459.5 7.5 <500 -  3300
          462.5 465 2.5 <500 -  1100
          468.5 470.5 2 <500 -  660
          473 476 3 <500 -  5300
          485 490.5 5.5 <500 -  2400
          493 495 2 <500 -  1450
          498.5 517.5 19 <500 -  7000
          520 523.5 3.5 <500 -  1000
          527 551 24 <500 -  61000
          559.5 566 6.5 <500 -  61000
          570.5 573 2.5 <500 -  670
AR-19-224c1 327 -65 597.5 129.45 404 404.5 0.5 <500 -  640
          443.5 446.5 3 <500 -  1100
          449 449.5 0.5 <500 -  1080
          452 452.5 0.5 <500 -  640
          455 456 1 <500 -  2050
          465 465.5 0.5 <500 -  1370
          469.5 473.5 4 <500 -  1650
          497.5 500.5 3 <500 -  820
          503 506.5 3.5 <500 -  1040
          510 511 1 <500 -  540
          524.5 525 0.5 <500 -  560
          530 533 3 <500 -  710
          536.5 538 1.5 <500 -  2340
          543.5 544.5 1 <500 -  1270
          548 551 3 <500 -  3610
          554.5 575.5 21 <500 -  61000
AR-19-224c2 327 -65 612.5 N/A 441 442.5 1.5 <500 -  1850
          445 447.5 2.5 <500 -  1220
          450 453.5 3.5 <500 -  2350
          470 470.5 0.5 <500 -  520
          476 478.5 2.5 <500 -  4100
          494 503 9 <500 -  2800
          518 518.5 0.5 <500 -  600
          524 524.5 0.5 <500 -  530
          538 571.5 33.5 <500 -  61000
          582 585.5 3.5 <500 -  13000
AR-19-225c1 327 -65 627.5 128.7 474 474.5 0.5 <500 -  630
          494.5 495 0.5 <500 -  520
          501 505 4 <500 -  4500
          520.5 525 4.5 <500 -  1280
          531 531.5 0.5 <500 -  980
          545 546 1 <500 -  1180
          566.5 598.5 32 <500 -  61000
AR-19-225c2 327 -65 636.5 N/A 473.5 474.5 1 <500 -  900
          479.5 480.5 1 <500 -  2000
          563.5 593.5 30 <500 -  61000
          596 598 2 <500 -  21000
          602 605 3 <500 -  650
AR-19-226c1 327 -65 564.5 131.5 446.5 447 0.5 <500 -  740
          457 468.5 11.5 <500 -  1350
          472.5 473.5 1 <500 -  2040
          482.5 483 0.5 <500 -  560
          491.5 503.5 12 <500 -  2240
          506 508.5 2.5 <500 -  3540
          512.5 527.5 15 <500 -  61000
          536.5 539.5 3 <500 -  9300
AR-19-226c1a 327 -65 177 144.15 No Anomalous Radioactivity
AR-19-226c2 327 -65 567 N/A 453.5 454 0.5 <500 -  740
          457.5 458 0.5 <500 -  600
          463 466.5 3.5 <500 -  730
          474.5 475 0.5 <500 -  510
          489.5 492 2.5 <500 -  860
          497.5 522.5 25 <500 -  61000
          527.5 528.5 1 <500 -  1050
          547 548 1 <500 -  2200
AR-19-227c1 327 -65 525.5 138.3 442 442.5 0.5 <500 -  680
          445 446.5 1.5 <500 -  1200
          463 502.5 39.5 <500 -  61000
AR-19-227c2 327 -65 540.5 N/A 439 439.5 0.5 <500 -  720
          454.5 455 0.5 <500 -  860
          460 508.5 48.5 <500 -  61000
          513 517.5 4.5 <500 -  22000
AR-19-228c1 327 -65 663.5 134 249 249.5 0.5 <500 -  750
          458 477.5 19.5 <500 -  23000
          480 483.5 3.5 <500 -  3510
          487 487.5 0.5 <500 -  3300
          492 492.5 0.5 <500 -  1750
          505 505.5 0.5 <500 -  800
          512 523.5 11.5 <500 -  55300
          551 551.5 0.5 <500 -  650
          575.5 581 5.5 <500 -  1130
          600.5 603 2.5 <500 -  590
          605.5 624.5 19 <500 -  61000
          629.5 632.5 3 <500 -  61000
          635 638 3 <500 -  680
          646.5 649 2.5 <500 -  890
          660 660.5 0.5 <500 -  700
AR-19-228c2 327 -65 672.5 N/A 459.5 469.5 10 <500 -  40000
          472 476 4 <500 -  4400
          478.5 481.5 3 <500 -  1500
          509.5 510.5 1 <500 -  9600
          515 534 19 <500 -  50000
          598 599 1 <500 -  750
          602 603 1 <500 -  970
          605.5 610 4.5 <500 -  1300
          616.5 627 10.5 <500 -  61000
          630 634 4 <500 -  8500
          638 639 1 <500 -  1600
          641.5 654.5 13 <500 -  53000
          658.5 659.5 1 <500 -  700
AR-19-233c1 327 -65 534.5 133.7 447.5 450.5 3 <500 -  3300
          453.5 491.5 38 <500 -  61000
          495.5 501.5 6 <500 -  920
AR-19-233c2 327 -65 537.5 N/A 457 465 8 <500 -  2000
          467.5 481.5 14 <500 -  61000
          484 510.5 26.5 <500 -  61000
          522.5 523 0.5 <500 -  920

 

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
  • Hole AR-19-226c1a was terminated due to deviation in the overburden

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 100% interest in Rook I, location of the Arrow Deposit in the Athabasca Basin, Saskatchewan, Canada and a portfolio of prospective uranium exploration projects throughout northwest Saskatchewan. 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.

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/nexgen-intersects-continuous-and-strong-high-grade-mineralization-in-all-of-the-initial-a2-sub-zone-targets-from-feasibility-stage-drilling-300820140.html

SOURCE NexGen Energy Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/28/c6907.html

%CIK: 0001698535

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca; www.nexgenenergy.ca

CO: NexGen Energy Ltd.

CNW 06:30e 28-MAR-19