NexGen Energy Ltd. ("NexGen" or the "Company") 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.
