- NexGen Energy has discovered high-counts per second uranium mineralization on the SW2 property near its Rook I project in Saskatchewan, the largest development-stage uranium project in Canada
- Drill hole RK-24-183 intersected 19.8 m of uranium mineralization registering up to 61,000 counts per second
- NexGen Energy is advancing a portfolio of Canadian uranium projects
- NexGen Energy stock is up by 91.49 per cent year-over-year, and has gained 336.12 per cent since 2019
NexGen Energy (TSX:NXE) has discovered high-cps (counts per second) uranium mineralization on the SW2 property near its Rook I project in Saskatchewan, the largest development-stage uranium project in Canada.
Drill hole RK-24-183 intersected uranium mineralization of 19.8 m registering up to 61,000 cps between 347.7 m and 367.5 m. Exploration is open in all directions, including over 1.5 km along strike.
The new discovery resides 3.5 km east of NexGen’s Arrow deposit, one of the largest in the world, in a previously untested conductor segment of Patterson Corridor East in the south-western section of the Athabasca Basin.
RK-24-183 is superior across every metric compared with RK-14-21, the Arrow deposit discovery hole, which yielded less than 0.5 m of greater than 9,999 cps.
Follow-up drilling intersected radioactivity akin to early discovery holes at Arrow in 2014, with additional targets to be generated through geological spatial relationships observed at Arrow, which roughly correspond to RK-24-183. According to Monday’s news release, “both indicate a well-developed hydrothermal system with fluid pathways provided by the structural disruption.”
“Ten years after the discovery of our world-class Arrow deposit, we are thrilled to be sharing this exciting news. 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,” Leigh Curyer, NexGen Energy’s chief executive officer, said in a statement. “Drilling activity is being fully dedicated to this new discovery area to advance our understanding of scope and scale of mineralization.”
NexGen believes its holdings in the southwestern Athabasca are highly prospective, with significant exploration ahead.
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NexGen Energy is advancing a portfolio of Canadian uranium projects, including its 100-per-cent-owned Rook I project, which is being developed into the largest low-cost producing uranium mine in the world. The company’s management team offers expertise across the mining lifecycle, including exploration, financing, project engineering and construction, operations and closure.
NexGen Energy (TSX:NXE) last traded at C$9.90 per share. The stock is up by 91.49 per cent year-over-year, and has gained 336.12 per cent since 2019.
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