NexGen Energy (TSX: NXE; NYSE: NXE; ASX: NXG) reports the greenfield mineralization on its 100%-owned SW2 property 3.5 km east of its Arrow uranium deposit at the Rook I project in northern Saskatchewan. The new occurrence is located on a previously untested conductor segment of the Patterson Corridor East.
"Ten years after the discovery of our world-class Arrow deposit, we are thrilled to be sharing this exciting news,” CEO Leigh Curyer commented. “This new intercept reflects the high potential of NexGen's extensive land package in the southwestern section of the Athabasca Basin, Saskatchewan, and is a testament to the strategic and disciplined approach to identifying new Arrow-type zones of mineralization.”
The new mineralization was intersected by drilling for 19.8 metres beginning at 347.7 metres. The highest reading was over 61,000 counts per second (cps) over 3 metres. The exploration target is predominantly open in all directions including over 1.5 km along strike, said NexGen.
For comparison, the discovery hole at the Arrow deposit intersected less than 0.5 metre of over 9,999 cps.
NexGen went on to say the new mineralization is an approximate analog for the structural controls at Arrow. Follow-up drilling cut anomalous features including hematite-quartz breccia, strong silicification, dravitic clay fracture fill, redox alteration, and elevated radioactivity similar to early discovery holes at Arrow in 2014.
The Arrow deposit has measured and indicated resources, which total 3.8 million tonnes grading 3.10% uranium oxide (U3O8) containing 256.7 million lb. U3O8, and an inferred resource of 4.4 million tonnes at 0.83% U3O8 containing 80.7 million lb. U3O8.
A total of 15,700 metres of drilling is planned this year at the SW2 target, and an additional 14,300 metres at SW1.
The Rook I feasibility study produced in 2021 can be read on www.NexGenEnergy.ca.
December 19, 2024
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