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NexGen Energy Completes Summer Drilling at Radio

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NexGen Energy Completes Summer Drilling at Radio

 

 

 

 

 

NexGen Energy Ltd (TSX VENTURE:NXE) is pleased to announce that it has completed the first recorded drill program on the Radio uranium property. Radio is located in the high-grade, uranium-rich northeast Athabasca Basin. The Radio property is 2km east of Rio Tinto’s Roughrider uranium deposits, and is along trend of the interpreted east-west structural system hosting the Roughrider uranium mineralization.
 

The drilling confirmed the presence of significant bleaching, desilicification, clay alteration, and structural disruptions in the overlying Athabasca sandstone, and of clay alteration and structures in the basement rocks, particularly in holes RD-13-06, RD-13-08, and RD-13-09. All of these features are known to occur at or in the vicinity of uranium mineralization in the Athabasca Basin. Several sheared and altered graphitic horizons were intersected at least 200 m below the unconformity in the basement rocks in hole RD-13-08. Preliminary structural orientations indicate that the graphitic horizons are dipping southeast and will intersect the unconformity 50 to 100 m northwest of RD-13-08.
 

Detailed sampling has been done for all 9 holes and samples have been sent to SRC Geoanalytical Laboratories for multi-element analysis and petrography, and to a consultant for clay identification using SWIR techniques (short wave infra-red). Results are expected within the next two months and will be reported when all analytical data has been received.
 

The helicopter supported drill program tested only the geophysical targets accessible during the summer months. Drilling started on June 20, 2013 and was completed on July 22, 2013 with 3472.9 metres drilled in 9 holes (Table 1). The 9 holes tested 5 locations within the broader target areas as shown on Figure 1.
 

Leigh Curyer, NexGen’s CEO commented “These first 9 holes within the 5 test zones of summer drilling at Radio has confirmed these zones contain the basement geology, alteration and structural features that host uranium mineralization elsewhere in the Athabasca basin. Receipt of the completed assay results in the coming months, together with the previous geophysics, will provide an excellent foundation for a significantly expanded winter drilling program at Radio when NexGen will be able to fully test targets uninhibited by the presence of surface water.”
 

The target areas and drill site locations were defined using a combination of the detailed 2011 airborne magnetic and VTEM electromagnetic surveys, and the 2013 ground resistivity and gravity work. The target areas have resistivity and gravity lows coincident with basement structures interpreted from magnetic surveys and weakly conductive basement lithologies defined by the VTEM survey.
 

Prior to NexGen acquiring the project, previous exploration on the property had not defined any basement graphitic horizons. Graphitic horizons are the conventional drill targets for uranium mineralization in the Athabasca Basin.

 

The drilling has shown that the Radio property contains basement geology, alteration and structural features that host uranium mineralization elsewhere in the Athabasca basin. Over the next few months the data from the drilling program – basement geology, alteration, structures, petrophysical measurements on core, geochemical and SWIR analyses – will be reviewed. This data, in combination with a reinterpretation of the existing geophysical data, will be used to re-define drill targets and to plan the follow up winter drilling program, which will include work on priority targets which could not be accessed during the summer drilling.
Table 1: Drill Hole Collar Information

 



----------------------------------------------------------------------------
----------------------------------------------------------------------------
                        Elevation                        Down Hole
                          (metres                         Depth to    End of
Drill                       above  UTM East UTM North Unconformity      Hole
 Hole     Dip Azimuth  sea level)  (metres)  (metres)     (metres)  (metres)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RD-13-01  -70     165         479    559457   6468092       200.15     391.2
----------------------------------------------------------------------------
RD-13-02  -70     165         481    559449   6468245       204.30     401.0
----------------------------------------------------------------------------
RD-13-03  -70     165         482    559452   6468396       205.80     320.4
----------------------------------------------------------------------------
RD-13-04  -70     165         472    560249   6467964       176.50     335.0
----------------------------------------------------------------------------
RD-13-05  -90     165         472    560249   6467964       167.30     299.0
----------------------------------------------------------------------------
RD-13-06  -70     345         481    558664   6467011       193.50     350.0
----------------------------------------------------------------------------
RD-13-07  -90     345         481    558664   6467011       180.10     445.0
----------------------------------------------------------------------------
RD-13-08  -85     315         468    559074   6466233       169.65     587.0
----------------------------------------------------------------------------
RD-13-09  -85     315         465    559585   6466940       167.00     344.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                             TOTAL    3472.9
 

 

 

Andrew Browne, NexGen’s Vice-President, Exploration and Development, a “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects has reviewed and approved the contents of this news release.
 

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 exploration professionals with a track record in the discovery of unconformity-style uranium deposits in Canada.
 

NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook 1, immediately adjacent to the North East of Patterson Lake South, and an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto’s Roughrider Deposit. NexGen holds one of the most dominant land positions on the Western side of the Athabasca Basin.

Posted July 30, 2013

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