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NexGen Announces Additional Mineralization Discovered at Patterson Corridor East, Assays from RK-24-183 and Commencement of Expa

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

PR Newswire

VANCOUVER, BC, May 29, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce drilling at Patterson Corridor East ("PCE") 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).

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.)

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.

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.)

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).

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

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







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