VANCOUVER, BC, June 12,
2023 /CNW/ - NexGen Energy Ltd. ("NexGen" or
the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is
pleased to announce commencement of the summer exploration drill
program comprised of 17,000 metres on its 100% owned SW2 and SW1
properties in the southwest Athabasca Basin, Saskatchewan. Geophysical surveys and
historical drilling review have refined prospective areas for
immediate drill testing.
Grant Greenwood, Vice
President, Exploration, commented: "A comprehensive review and
analysis of NexGen's exploration data was completed this spring,
leading to a highly targeted summer drill program that will focus
on high priority areas of NexGen's extensive SW2 and SW1 land
packages. NexGen has strategically advanced significant areas of
its dominant land position in the southwest Athabasca Basin towards the pursuit of
material uranium discovery. Geophysical surveys have highlighted
prominent, stacked anomalies for immediate testing in search of a
large-scale economic discovery. We are excited to drill test these
highly prospective targets throughout the summer."
2023 Summer Drilling
Drilling will systematically test highest priority areas of
prospective corridors identified by an extensive geophysical survey
program that began in 2022 and continued in 2023 (Figure 1). Drill
readiness has advanced across approximately 22,000 hectares of
NexGen's properties, effectively supporting strategic evaluation of
targets this year and in subsequent programs. Follow up drilling of
favourable historical results during winter 2023 will also be a
priority for the summer drilling program.
A total of 17,000 metres is planned for the summer with up to
three (3) drill rigs in operation, bringing the 2023 exploration
total planned metres to 22,500.
Drill target areas:
SW2 (Location of Arrow, The Rook I Project) –
Geophysical surveys have revealed prominent, stacked anomalies
along the structurally complex R7 (previously referred to as R
Seven) and Morrow corridors within the central area of NexGen's
expansive SW2 property. Drill testing with aggressive, first-pass
steps is planned for these two prospective corridors along with
follow-up drilling of Arrow-proximal corridors where high
prospectivity is present.
- R7 – Massive, complex structural corridor with ~45 km of
strike on SW2 that spans the Athabasca boundary. Recent high-resolution
magnetics have highlighted structural kinematics, coincident with
gravity anomalies, interpreted as effective traps of
mineralization.
- Morrow – Over 10 kilometres of chained, stacked
geophysical anomalies. Completely untested corridor with blue sky
potential.
- PLC East and Derkson West – Follow up of favourable
structure and alteration from winter 2023, potential proximal to
Arrow.
- Derkson – Gravity low bullseye coincident with EM
conductor near the Athabasca
margin.
- Derkson East – Conductor offset and breaks align
with gravity low.
- Fury – Conductor breaks within gravity lows along
uniquely oriented trend.
SW1 – 2023 summer drilling is planned along the under
explored Gartner and Gambit corridors.
- Gartner – 2023 winter drilling successfully intersected
prospective structure and hydrothermal alteration indicative of
uranium bearing systems and will be followed-up along strike.
- Gambit – An interpreted, 12 kilometre structural
corridor on NexGen's SW1 property along strike of F3 Uranium Corp's
JR Zone discovery. A winter 2023 ground electromagnetic (EM) survey
was conducted within the corridor to locate structural features
that will be drill tested during the summer 2023 program.
A presentation providing details on the summer 2023 exploration
program is available at nexgenenergy.ca. Please click direct link
here: https://nexgenenergy2021corp.s4.q4web.com/preview/2023-summer-program
About NexGen
NexGen Energy is a Canadian company focused on delivering clean
energy fuel for the future. The Company's flagship Rook I Project
is being optimally developed into the largest low cost producing
uranium mine globally, incorporating the most elite standards in
environmental and social governance. The Rook I Project is
supported by a NI 43-101 compliant Feasibility Study which outlines
the elite environmental performance and industry leading
economics. NexGen is led by a team of experienced uranium and
mining industry professionals with expertise across the entire
mining life cycle, including exploration, financing, project
engineering and construction, operations and closure. NexGen
is leveraging its proven experience to deliver a Project that leads
the entire mining industry socially, technically and
environmentally. The Project and prospective portfolio in northern
Saskatchewan will provide
generational long-term economic, environmental, and social benefits
for Saskatchewan, Canada, and the
world.
NexGen is listed on the Toronto Stock Exchange, the New York
Stock Exchange under the ticker symbol "NXE" and on the Australian
Securities Exchange under the ticker symbol "NXG" providing access
to global investors to participate in NexGen's mission of solving
three major global challenges in decarbonization, energy security
and access to power. The Company is headquartered in Vancouver, British Columbia, with its primary
operations office in Saskatoon,
Saskatchewan.
Technical Disclosure
All technical information in this news release has been
reviewed and approved by Grant
Greenwood, NexGen's Vice President, Exploration, a qualified
person under National Instrument 43-101.
A technical report in respect of the FS is filed on SEDAR
( www.sedar.com ) and EDGAR
(www.sec.gov/edgar.shtml ) and is available for review on
NexGen Energy's website (www.nexgenenergy.ca ).
Cautionary Note to U.S.
Investors
This news release includes Mineral Reserves and Mineral
Resources classification terms that comply with reporting standards
in Canada and the Mineral Reserves
and the Mineral Resources estimates are made in accordance with NI
43-101. NI 43-101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects. These standards differ from the requirements of
the Securities and Exchange Commission ("SEC") set by the SEC's
rules that are applicable to domestic United States reporting companies.
Consequently, Mineral Reserves and Mineral Resources information
included in this news release is not comparable to similar
information that would generally be disclosed by domestic U.S.
reporting companies subject to the reporting and disclosure
requirements of the SEC. Accordingly, information concerning
mineral deposits set forth herein may not be comparable with
information made public by companies that report in accordance with
U.S. standards.
Forward-Looking
Information
The information contained herein contains "forward-looking
statements" within the meaning of applicable United
States securities laws and regulations and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to mineral reserve and mineral
resource estimates, the 2021 Arrow Deposit, Rook I Project and
estimates of uranium production, grade and long-term average
uranium prices, anticipated effects of completed drill results on
the Rook I Project, planned work programs, completion of further
site investigations and engineering work to support basic
engineering of the project and expected outcomes. Generally, but
not always, forward-looking information and statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connotation thereof. Statements relating to "mineral
resources" are deemed to be forward-looking information, as they
involve the implied assessment that, based on certain estimates and
assumptions, the mineral resources described can be profitably
produced in the future.
Forward-looking information and statements are based on the
then current expectations, beliefs, assumptions, estimates and
forecasts about NexGen's business and the industry and markets in
which it operates. Forward-looking information and statements are
made based upon numerous assumptions, including among others, that
the mineral reserve and resources estimates and the key assumptions
and parameters on which such estimates are based are as set out in
this news release and the technical report for the property, the
results of planned exploration activities are as anticipated, the
price and market supply of uranium, the cost of planned exploration
activities, that financing will be available if and when needed and
on reasonable terms, that third party contractors, equipment,
supplies and governmental and other approvals required to
conduct NexGen's planned exploration activities will be
available on reasonable terms and in a timely manner and that
general business and economic conditions will not change in a
material adverse manner. Although the assumptions made by the
Company in providing forward looking information or making forward
looking statements are considered reasonable by management at the
time, there can be no assurance that such assumptions will prove to
be accurate in the future.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual results, performances and achievements of NexGen to
differ materially from any projections of results, performances and
achievements of NexGen expressed or implied by such forward-looking
information or statements, including, among others, the existence
of negative operating cash flow and dependence on third party
financing, uncertainty of the availability of additional financing,
the risk that pending assay results will not confirm previously
announced preliminary results, conclusions of economic valuations,
the risk that actual results of exploration activities will be
different than anticipated, the cost of labour, equipment or
materials will increase more than expected, that the future price
of uranium will decline or otherwise not rise to an economic level,
the appeal of alternate sources of energy to uranium-produced
energy, that the Canadian dollar will strengthen against the U.S.
dollar, that mineral resources and reserves are not as estimated,
that actual costs or actual results of reclamation activities are
greater than expected, that changes in project parameters and plans
continue to be refined and may result in increased costs, of
unexpected variations in mineral resources and reserves, grade or
recovery rates or other risks generally associated with mining,
unanticipated delays in obtaining governmental, regulatory or First
Nations approvals, risks related to First Nations title and
consultation, reliance upon key management and other personnel,
deficiencies in the Company's title to its properties, uninsurable
risks, failure to manage conflicts of interest, failure to obtain
or maintain required permits and licences, risks related to changes
in laws, regulations, policy and public perception, as well as
those factors or other risks as more fully described in NexGen's
Annual Information Form dated February 24,
2023 filed with the securities commissions of all of the
provinces of Canada except
Quebec and in NexGen's 40-F filed
with the United States Securities and Exchange Commission, which
are available on SEDAR at www.sedar.com and Edgar
at www.sec.gov .
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or statements or
implied by forward-looking information or statements, there may be
other factors that cause results not to be as anticipated,
estimated or intended. Readers are cautioned not to place undue
reliance on forward-looking information or statements due to the
inherent uncertainty thereof.
There can be no assurance that forward-looking information
and statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
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SOURCE NexGen Energy Ltd.