The Prospector News

NexGen Announces Additional Mineralization Discovered at Patterson Corridor East, Assays from RK-24-183 and Commencement of Expanded Summer Exploration Program

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

NexGen Announces Additional Mineralization Discovered at Patterson Corridor East, Assays from RK-24-183 and Commencement of Expanded Summer Exploration Program

 

 

 

 

 

NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce drilling at Patterson Corridor East has intersected mineralization in RK-24-193 over 67.5 metres (m) (383.5 to 451 m) across various intervals including up to 7,500 cps over 1.5 m (Figures 1 to 4, Table 1). RK-24-193 is located 275 m southwest along strike of RK-24-183 (discovery hole) and at approximately the same depth below surface.

 

In addition, assays from RK-24-183 confirm high grade uranium veins across a 20 m interval with several intersections totalling 13.5 m at 0.78% U3O8 including 0.5 m (348.0 to 348.5 m) at 10% U3O8 and another 0.5 m (356.5 to 357 m) at 6.23% U3O8 (Table 2). For reference, the Arrow discovery hole RK-14-21 assayed 5.75 m at 0.37% U3O8, including 0.25 m at 5.77% U3O8.

 

Collectively, these results of multiple narrow intersections of mineralization in two holes represent a current strike length of 275 m at PCE, suggesting a potential upper edge to mineralization highly analogous to the early holes at Arrow (Figure 1). Consequently, the summer drilling program has been expanded to 4 drill rigs and targeting 22,000 m at PCE (Figure 2).

 

Leigh Curyer, Chief Executive Officer, commented: “Our team has assessed the geological similarities between RK-24-183 and RK-24-193 and the upper areas of Arrow, which indicates the high prospectivity of an additional mineralized system 3.5 km east of Arrow. Consequently, the growing potential of this latest discovery will drive the focus of the summer exploration program to determine the potential size and extent of mineralization. Efficient and bold testing of the overall system is the first priority.

 

It is an exciting time at NexGen with the Company recently advancing the Federal Environmental Assessment process for the Rook I Project through the submission of responses to the remaining Information Requests, as well as advancing detailed engineering and exploring a new discovery in parallel.”

 

RK-24-193

 

This new hole intersected elevated radioactivity over 67.5 m (Table 1) with mineralization style and alteration intensity strongly resembling up dip projections that were seen during the early discovery holes at Arrow.

 

In addition, drill results further south in RK-24-180, RK-24-192, and RK-24-194 indicate a possible repetition of prospective structure that correlates well with the local gravity low, a typical indicator of potential hydrothermal alteration. Numerous brittle reactivated structures and associated intense alteration within these three drillholes highlight a potential supplementary uranium-bearing trend within the same system. This has doubled the size of the system to be tested this summer with an approximate extent of 1.5 km long by 1.2 km wide (Figure 2). Potential remains in most directions within this highly prospective area.

 

Summer Drilling

 

Focus of the expanded summer program is on assessing the broad hydrothermal system at PCE (Figure 2) and expanding the mineralized footprint. Robust analysis and interpretation processes will be utilized to actively assess potential while efficiently testing priority targets.

 

Over 22,000 m of diamond drilling is planned for the PCE system utilizing four drill rigs. This represents a near tripling of drilling from the winter to summer program. Optionality exists with planning underway to increase the total based on drill results. Targets will primarily be tested between 400 and 700 m below surface to test potential depth extensions, as is present at Arrow. Summer drilling will significantly advance the investigation of PCE while highlighting geological relationships that can be applied elsewhere within NexGen’s exploration portfolio (Figure 5).

 

Table 1: 2024 Spectrometer results to date

 

Drillhole Unconformity
Depth (m)
Handheld Spectrometer Results (RS-125) 
Hole ID Azimuth Dip Total
Depth
(m)
From
(m)
To (m) Width
(m)
CPS Range
RK-24-179 310 -70 462 138 141 141.5 0.5 <500 – 1,100>
150 151 1 <500
154 155 1 <500 – 560>
156.5 157 0.5 <500
RK-24-180 310 -70 366 102.3 No Significant Intersections
RK-24-181 310 -70 573 115.7 191.5 192 0.5 <500
RK-24-182 310 -70 411 N/A No Significant Intersections
RK-24-183 310 -70 501 125.3 347.5 350 2.5 500 – 52,000
350 351 1 <500 – 1,200>
351 354 3 700 – 16,200
354 355 1 <500 – 570>
355 358 3 1,300 – >61,000
358 358.5 0.5 790 – 2,100
358.5 362.5 4 <500 – 680>
362.5 363 0.5 <500 – 1,070>
363 365 2 <500
365 365.5 0.5 800 – 7,700
365.5 367 1.5 <500
367 367.5 0.5 <500 – 28,000>
RK-24-184 280 -70 534 137.7 No Significant Intersections
RK-24-185 310 -70 396 N/A 312.5 313.5 1 <500
335 335.5 0.5 <500
RK-24-186 310 -70 440 128.2 181.5 182 0.5 <500 – 700>
211 212 1 <500 – 600>
RK-24-187 310 -70 501 116.8 163 164.5 1.5 <500
191 191.5 0.5 <500 – 830>
RK-24-188 310 -70 510 120.5 338 340 2 <500
410.5 412.5 2 <500
418.5 421.5 3 <500
RK-24-189 310 -70 537 130 No Significant Intersections
RK-24-190 310 -70 547 123.8 No Significant Intersections
RK-24-191 310 -70 402 N/A 266 267 1 <500 – 700>
RK-24-192 310 -70 444 108.5 No Significant Intersections
RK-24-193 310 -70 621 N/A 383.5 384.5 1 <500 – 820>
389.5 390 0.5 <500 – 1,330>
393.5 394 0.5 <500
401.5 402.5 1 580 – 640
413 413.5 0.5 <500
417.5 418.5 1 <500
419 420.5 1.5 <500 – 7,500>
423 425 2 <500 – 700>
426.5 428 1.5 <500 – 1,100>
428.5 429 0.5 <500
430 430.5 0.5 <500 – 3,100>
432 434 2 <500 – 2,850>
435 437 2 <500
442 443 1 <500 – 510>
449 451 2 <500 – 2,700>
RK-24-194 310 -70 420 98.8 190.5 191 0.5 <500
  • All depths and intervals are meters downhole, true thicknesses are yet to be determined.
  • “Off-scale” refers to >61,000 cps total readings by gamma spectrometer type RS-125.
  • Unconformity of ‘N/A’ denotes a lack of visible contact between Athabasca sandstone and basement rock.
  • Maximum internal dilution 2.0 m downhole.
  • Minimum thickness of 0.5 m downhole.
  • 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.

 

Table 2: 2024 Assay results to date

 

Drillhole Unconformity
Depth (m)
SRC Geoanalytical Results
(Cutoff 0.01%)
Hole ID Azimuth Dip Total
Depth
(m)
From
(m)
To (m) Width
(m)
U3O8
(wt%)
RK-24-179 310 -70 462 138 No Significant Intersections
RK-24-180 310 -70 366 102.3 No Significant Intersections
RK-24-181 310 -70 573 115.7 No Significant Intersections
RK-24-182 310 -70 411 N/A No Significant Intersections
RK-24-183 310 -70 501 125.3 347.5 361 13.5 0.78
including 348 348.5 0.5 10.0
including 356.5 357 0.5 6.23
362.5 363 0.5 0.07
365 365.5 0.5 0.55
367 367.5 0.5 1.42
369.5 370 0.5 0.01
RK-24-184 280 -70 534 137.7 No Significant Intersections
RK-24-185 310 -70 396 N/A 312.5 313.5 1 0.01
335 335.5 0.5 0.05
RK-24-186 310 -70 440 128.2 No Significant Intersections
RK-24-187 310 -70 501 116.8 No Significant Intersections
RK-24-188 310 -70 510 120.5 412 412.5 0.5 0.02
418.5 419 0.5 0.01
419.5 420 0.5 0.01
422.5 424 1.5 0.01
RK-24-189 310 -70 537 130 No Significant Intersections
RK-24-190 310 -70 547 123.8 No Significant Intersections
RK-24-191 310 -70 402 N/A No Significant Intersections
RK-24-192 310 -70 444 108.5 No Significant Intersections
RK-24-193 310 -70 621 N/A Assays Pending
RK-24-194 310 -70 420 98.8 No Significant Intersections
  • All depths and intervals are meters downhole, true thicknesses are yet to be determined.
  • Unconformity of ‘N/A’ denotes a lack of visible contact between Athabasca sandstone and basement rock.
  • 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.

 

About NexGen

 

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company’s flagship Rook I Project is being optimally developed into the largest low cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations, and closure. NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically, and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.

 

NexGen is listed on the Toronto Stock Exchange, the New York Stock Exchange and on the Australian Securities Exchange providing access to global investors to participate in NexGen’s mission of solving three major global challenges in decarbonization, energy security and access to power. The Company is headquartered in Vancouver, British Columbia, with its primary operations office in Saskatoon, Saskatchewan.

 

Technical Disclosure*

 

All technical information in this news release has been reviewed and approved by Jason Craven, NexGen’s Manager, Exploration, a qualified person under National Instrument 43-101.

 

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-125 gamma spectrometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.

 


Figure 1: Schematic cross-section showing early holes at Arrow and PCE with relative depths of mineralization; follow up will primarily focus on blue shaded area down dip and along strike (CNW Group/NexGen Energy Ltd.)

 

 

 


Figure 2: PCE showing with area of interest for further exploration outlined; 2024 drillholes shown as green dots, interpreted primary structures are represented by dashed lines (CNW Group/NexGen Energy Ltd.)

 

 

 


Figure 3: Elevated radioactivity from RK-24-193 with maximum values shown for mineralized veins outlined in yellow. Replacement style mineralization is similar to the discovery hole, RK-24-183, with a notable upgrade of alteration intensity that included m-scale dravitic breccia. (CNW Group/NexGen Energy Ltd.)

 

 

 


Figure 4: Hydrothermal hematite, argillization, and uraninite blebs at 419.7 m with a maximum of 7,500 cps (CNW Group/NexGen Energy Ltd.)

 

 

 


Figure 5: PCE and analogs, based on geological and geophysical similarities, shown as green shapes (CNW Group/NexGen Energy Ltd.)

 

Posted May 29, 2024

Share this news article

MORE or "UNCATEGORIZED"


McEwen Mining Announces Closing of Flow-Through Financing

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report it... READ MORE

June 14, 2024

FRONTIER LITHIUM INTERSECTS 136.7M OF 1.32% Li2O AND EXTENDS SPARK PEGMATITE

Frontier Lithium Inc. (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) is pl... READ MORE

June 14, 2024

ALX Resources Corp. Receives Analytical Results from the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

ALX Resources Corp. (TSX-V: AL) (FSE: 6LLN) (OTC: ALXEF) is pleas... READ MORE

June 13, 2024

enCore Energy Commences Uranium Production at its Second South Texas Project

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) announced the succes... READ MORE

June 13, 2024

West Red Lake Gold Pours Gold Bar From Madsen Mill Cleanup

West Red Lake Gold Mines Ltd. (TSX-V: WRLG) (OTCQB: WRLGF) is ple... READ MORE

June 13, 2024

Copyright 2024 The Prospector News