NexGen Energy (ASX:NXG) is investigating priority targets at its wholly owned properties in the ‘high-grade’ Athabasca Basin in Canada after beginning a 30,000m exploration drilling program today (8 February 2024).
The $6.25 billion market capitalisation company says the program builds on 2023 results, which advanced the geological investigation of previously unexplored corridors and produced priority targets.
The 2024 program will target 10 conductive trends across 4 drill rigs. Up to 15,700m of drilling is planned for the SW2 target (Rook I) while the remaining 14,300m is planned for the SW1 target.
Meanwhile, the company notes winter drilling will take place on ‘prospective’ corridors in proximity to the Arrow deposit, including Patterson Corridor East, Derksen West, Derksen, Derksen East, and Fury.
Summer drilling will target additional corridors including Gartner, Gambit, and King on SW1, as well as Fury, R7, and Morrow on SW2.
Chief Executive Officer (CEO) Leigh Curyer says: “Nuclear power is critical to reliably achieving carbon neutrality by 2050, and uranium is the fuel that will power this necessary transition with the industry forecasting a 200 million pound annual supply deficit by 2040.
With our priority focus on concluding federal permitting and project engineering, the commencement of the 2024 exploration drilling to identify additional zones of mineralisation is an exciting arm of NexGen’s operations. The team is employing the same innovative target generation and cost efficiency approach that led to the discovery [of] Arrow.”
NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future.
The company says its flagship Rook I Project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most ‘elite’ social and environmental governance standards.
Write to Adam Drought at Mining.com.au
Images: NexGen Energy
