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NexGen Energy Announces Best Hole (RK-24-207) to Date and Material Expansion of Mineralized Zone at Patterson Corridor East
VANCOUVER, BC, Aug. 8, 2024 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the mineralized zone
About this update from Nexgen Energy Ltd.
[{"type":"text","content":" VANCOUVER, BC, Aug. 8, 2024 /CNW/ - NexGen Energy Ltd. (\"NexGen\" or the \"Company\") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the mineralized zone at Patterson Corridor East (PCE) has materially expanded since the original discovery in the 2024 Winter Program (see NexGen News Release dated March 11, 2024). The Summer Drill Program commenced May 21st, with eight (8) out of twelve (12) drillholes intersecting mineralization to date (Figures 1 and 2, Table 1). Extensive mineralization plunges to the east with a span of 540 m along strike and 600 m vertical extent, showing wide intervals of elevated radioactivity that remain open at depth and along strike. In comparison, previously reported holes from PCE had identified two mineralized holes, 275 m apart. Off-scale (>61,000 cps) high-grade uranium mineralization has been intersected in four drillholes to date, including RK-24-183, -197, -202, and -207. The most recent intersection in RK-24-207 contains the first instance of massive replacement by uraninite, a key indicator of a strongly mineralized system (Figures 3 and 4, Table 1) with 1.5 m >10,000 cps (including 0.3 m >61,000 cps) within cumulative interval mineralization of 26.2 m > 500 cps (Table 2). Results include the best and most recent intercept in RK-24-207, that confirms continuity of mineralization, massive replacement uranium and significant high grade at PCE (Table 1). The high-intensity style mineralization is indicative of exceptional formation conditions linked to significant orebodies within the Athabasca Basin and most notably the Arrow Deposit 3.5 km to the west. In addition, this zone of high-intensity mineralization in RK-24-207 is at a similar depth to Arrow's A2 high-grade heart. PCE, like Arrow, is contained solely in the competent basement rock which is the ideal underground setting. The mineralized signature is expressed as very analogous to Arrow, localized veins (up to off-scale >61,000 cps) within elevated radioactivity that extends over more than 100 m. Summer drilling to date totals 10,045.5 m of the planned 22,000 m from 12 completed drillholes. Assays from disclosed mineralized intersections are pending and due in Q4 2024. As a consequence of these results, the focus of the summer program has substantially elevated with two primary objectives: continue to...