VANCOUVER, BC, Aug. 8, 2024 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the mineralized zone at Patterson Corridor East (PCE) has materially expanded since the original discovery in the 2024 Winter Program (see NexGen News Release dated March 11, 2024). The Summer Drill Program commenced May 21st, with eight (8) out of twelve (12) drillholes intersecting mineralization to date (Figures 1 and 2, Table 1). Extensive mineralization plunges to the east with a span of 540 m along strike and 600 m vertical extent, showing wide intervals of elevated radioactivity that remain open at depth and along strike. In comparison, previously reported holes from PCE had identified two mineralized holes, 275 m apart.
Figure 1: Schematic plan view of mineralized footprint at Arrow and PCE at the same stage of drilling; gravity as background with low values in blue (CNW Group/NexGen Energy Ltd.)
Figure 2: Schematic long section of mineralized footprint at Arrow and PCE at the same stage of drilling (CNW Group/NexGen Energy Ltd.)
Figure 3: Core photo from RK-24-207; high grade mineralization is hosted across 7.1 m from 523.9 to 531 m with outer low grade disseminated uranium extending above to 519.4 and below to 534.4 m; Narrow secondary veins are hosted nearby in the footwall below (CNW Group/NexGen Energy Ltd.)
Figure 4: RK-24-207 close-up of off-scale (>61,000 cps) massive replacement by uraninite at 525.1 m (CNW Group/NexGen Energy Ltd.)
Figure 5: RK-24-202 uraninite as blebs along foliation and fracture coating at 934.4 m, max peak of >61,000 cps (CNW Group/NexGen Energy Ltd.)
Figure 6: RK-24-202 mineral replacement by uraninite within shear zone at 967.5 m, max peak of 49,000 cps (CNW Group/NexGen Energy Ltd.)
Off-scale (>61,000 cps) high-grade uranium mineralization has been intersected in four drillholes to date, including RK-24-183, -197, -202, and -207. The most recent intersection in RK-24-207 contains the first instance of massive replacement by uraninite, a key indicator of a strongly mineralized system (Figures 3 and 4, Table 1) with 1.5 m >10,000 cps (including 0.3 m >61,000 cps) within cumulative interval mineralization of 26.2 m > 500 cps (Table 2).
Results include the best and most recent intercept in RK-24-207, that confirms continuity of mineralization, massive replacement uranium and significant high grade at PCE (Table 1). The high-intensity style mineralization is indicative of exceptional formation conditions linked to significant orebodies within the Athabasca Basin and most notably the Arrow Deposit 3.5 km to the west. In addition, this zone of high-intensity mineralization in RK-24-207 is at a similar depth to Arrow's A2 high-grade heart. PCE, like Arrow, is contained solely in the competent basement rock which is the ideal underground setting. The mineralized signature is expressed as very analogous to Arrow, localized veins (up to off-scale >61,000 cps) within elevated radioactivity that extends over more than 100 m.
Summer drilling to date totals 10,045.5 m of the planned 22,000 m from 12 completed drillholes. Assays from disclosed mineralized intersections are pending and due in Q4 2024.
As a consequence of these results, the focus of the summer program has substantially elevated with two primary objectives:
continue to test the extent of the mineralized system through bold step outs, and
vector in on the high-grade zones within the broader mineralized system.
Leigh Curyer, Chief Executive Officer, commented: "In the first two months of the summer program, the results have rapidly indicated an expansive, mineralized footprint with remarkable continuity. Geological characteristics are very analogous to Arrow indicating a large, pervasive and high-grade system. The summer program has been purposely bold with very large drill step outs and has intersected mineralization in an additional 8 of the 12 holes drilled. Important to note, PCE has currently hit 4 holes with intense mineralization >61,000 cps, with this occurring at Arrow for the first time in the 15th hole - which led to subsequently delineating broad ultra-high grade zones in the A2 shear of Arrow.
Discoveries of the calibre of Arrow all take their own path in terms of time and extent of drilling to fully define. PCE is now commencing its path showing all the characteristics of Arrow at the same stage. PCE validates the continued prospectivity of the NexGen land package is immense and underpins the southwest Athabasca Basin as the future of Canada's uranium industry growth over the balance of this century.
NexGen is at an incredibly exciting stage, focused on concluding the Federal Environmental Assessment for the Rook I Project, construction readiness on receipt of final approvals and in parallel drilling a newly discovered zone of mineralization."
Mineralization is hosted as semi-massive to massive pitchblende veins, fracture coatings, and disseminations. Structures focus the mineralization via reactivated shears and faults while competent wall rock (silicified orthogneiss) acts as a physical trap. The mineralization and alteration patterns depict a well-developed hydrothermal fluid system. Typical alteration associated with the mineralization includes the formation of iron-rich minerals (hydrothermal hematite), iron oxide (limonite), clay, and chlorite. These characteristics combined with the size of the mineralized footprint, as well as the presence of >61,000 cps, demonstrates the similarities between PCE and Arrow at the same stage.
Table 1: 2024 Summer program spectrometer results to date
Drillhole
Unconformity Depth (m)
Handheld Spectrometer Results (RS-125)
Hole ID
Azimuth
Dip
Total Depth (m)
From (m)
To (m)
Width (m)
CPS Range
RK-24-195
310
-70
588.0
N/A
171.5
172.0
0.5
<500 - 1,500
172.0
172.5
0.5
<500
192.0
192.5
0.5
<500
216.0
216.5
0.5
<500
RK-24-196
310
-70
841.0
103.4
701.5
703.0
1.5
<500
703.0
703.5
0.5
1,600 - 2,500
703.5
704.0
0.5
<500
704.0
704.5
0.5
570 - 1,320
705.5
706.0
0.5
<500 - 520
723.5
724.0
0.5
<500 - 600
731.0
731.7
0.7
<500
731.7
731.8
0.1
3,380 - 4,180
731.8
731.9
0.1
10,000 - 14,000
731.9
732.0
0.1
<500
732.0
732.1
0.1
<500 - 3,100
732.5
736.5
4.0
<500 - 3,100
741.0
741.5
0.5
<500 - 4,000
742.5
743.0
0.5
<500 - 1,000
744.5
745.0
0.5
<500
745.0
745.5
0.5
<500 - 1,350
745.5
746.0
0.5
<500
746.0
746.5
0.5
<500 - 520
746.5
747.0
0.5
<500 - 530
747.0
748.0
1.0
<500
748.5
749.0
0.5
<500
749.5
750.0
0.5
<500 - 3,200
750.0
750.5
0.5
<500 - 2,100
757.0
757.5
0.5
<500 - 2,350
758.0
758.5
0.5
<500
760.0
760.5
0.5
<500
765.5
766.6
1.1
<500
RK-24-197
310
-70
792.0
117.7
241.0
241.5
0.5
<500
518.0
521.5
3.5
<500
523.5
524.0
0.5
<500
524.0
524.5
0.5
<500 - 990
524.5
525.0
0.5
<500 - 2990
525.0
525.5
0.5
<500 - 2510
525.5
526.0
0.5
<500 - 660
526.0
526.4
0.4
<500 - 10,000
526.4
526.6
0.2
10,000 - 13,050
526.6
527.0
0.4
510 - 6,550
527.0
527.5
0.5
1,040 - 9,560
527.5
527.6
0.1
9,580 - 10,000
527.6
527.8
0.2
10,000 - 26,400
527.8
528.5
0.7
<500
528.5
528.8
0.3
940 - 10,000
528.8
528.9
0.1
10,000 - 46,400
528.9
529.0
0.1
865 - 2,250
529.0
529.5
0.5
<500
530.5
535.5
5.0
<500
536.0
536.5
0.5
<500
546.0
546.5
0.5
<500
546.5
547.0
0.5
<500
547.0
547.5
0.5
<500 - 670
547.5
548.0
0.5
<500
548.0
548.5
0.5
<500 - 890
548.5
548.6
0.1
1,000 - 8,200
548.6
548.8
0.2
21,200 - 33,800
548.8
549.0
0.2
42,600 - 52,800
549.0
549.5
0.5
600 - 1,500
549.5
550.0
0.5
2,200 - 4,400
550.0
550.5
0.5
<500 - 1,600
550.5
551.0
0.5
<500
551.0
551.5
0.5
<500 - 620
551.5
552.0
0.5
<500 - 550
552.0
552.5
0.5
1,300 - 2,000
552.5
552.6
0.1
25,000 - 32,000
552.7
552.9
0.2
40,100 - >61,000
552.9
553.0
0.1
17,100 - 25,000
553.0
553.5
0.5
<500 - 1,500
RK-24-198
310
-70
743.2
117.3
333.5
334.0
0.5
<500
669.5
670.0
0.5
<500
RK-24-199
310
-70
807.0
107.1
No Significant Intersections
RK-24-200
310
-70
804.0
112.6
339.0
339.5
0.5
<500
354.0
354.5
0.5
<500 - 750
465.5
466.0
0.5
<500 - 600
611.0
611.5
0.5
<500 - 660
612.0
612.5
0.5
<500
613.0
613.5
0.5
<500 - 970
619.0
619.5
0.5
<500 - 510
619.5
620.0
0.5
<500
623.0
623.5
0.5
<500
RK-24-201
310
-70
939.0
108.9
412.5
413.0
0.5
<500
673.5
674.0
0.5
<500
674.5
675.0
0.5
<500
675.0
675.5
0.5
<500 - 3,800
675.5
676.0
0.5
<500
677.5
678.0
0.5
<500 - 550
678.5
679.0
0.5
650 - 700
679.0
679.5
0.5
<500
680.0
681.0
1.0
<500
693.5
694.0
0.5
700 - 800
694.0
695.0
1.0
<500
695.0
695.5
0.5
700 - 900
695.5
696.0
0.5
<500
696.0
696.5
0.5
500 - 1,800
696.5
697.0
0.5
500 - 2,600
697.0
699.0
2.0
<500
699.5
700.5
1.0
<500
700.5
701.0
0.5
650 - 700
701.0
701.5
0.5
<500 - 550
701.5
702.0
0.5
<500 - 600
702.0
702.5
0.5
<500 - 750
703.0
703.5
0.5
<500
708.0
709.0
1.0
<500
721.5
722.0
0.5
<500
741.0
741.5
0.5
<500
765.5
766.0
0.5
<500 - 1300
819.0
819.5
0.5
<500 - 1800
822.5
823.0
0.5
<500 - 630
837.5
838.0
0.5
<500
867.5
868.0
0.5
<500
RK-24-202
310
-70
1138.2
106.3
622.5
623.0
0.5
<500
623.5
624.0
0.5
<500
732.0
732.5
0.5
<500
780.5
781.0
0.5
<500
846.0
850.3
4.3
<500
886.0
886.2
0.2
<500 - 1,780
886.2
886.3
0.1
10,000 - 14,100
886.3
886.5
0.2
<500 - 1,700
887.5
888.0
0.5
<500 - 1,300
895.5
896.0
0.5
<500 - 3,200
907.0
908.0
1.0
<500
922.5
923.0
0.5
<500 - 650
926.5
927.0
0.5
<500
928.0
928.5
0.5
<500 - 540
931.0
931.5
0.5
<500 - 3,400
931.5
932.0
0.5
<500 - 1,050
932.0
932.5
0.5
<500 - 650
933.5
934.0
0.5
<500 - 2,580
934.0
934.3
0.3
<500 - 6,100
934.3
934.4
0.1
55,500 - >61,000
934.4
934.5
0.1
<500
936.0
936.3
0.3
<500
936.3
936.4
0.1
12,000 - >61,000
936.4
936.5
0.1
530 - 650
943.5
944.0
0.5
<500 - 2,290
944.0
944.5
0.5
<500 - 800
947.0
947.5
0.5
<500
948.5
949.0
0.5
<500
951.0
951.5
0.5
<500
951.5
951.7
0.2
850 - 3,200
951.7
952.0
0.3
10,000 - 17,200
952.0
952.5
0.5
<500 - 7,500
952.5
953.0
0.5
<500 - 690
953.0
953.5
0.5
<500
953.5
954.0
0.5
<500 - 1,700
954.0
954.5
0.5
600 - 2,020
954.5
955.0
0.5
500 - 8,500
955.0
955.5
0.5
<500
955.5
956.0
0.5
500 - 2,250
956.0
956.5
0.5
<500 - 3,200
957.0
957.5
0.5
<500 - 1,500
957.5
958.0
0.5
500 - 1,000
958.0
958.5
0.5
<500 - 1,010
958.5
959.0
0.5
<500 - 1,650
959.0
959.5
0.5
<500 - 2,000
959.5
960.0
0.5
<500 - 2,300
961.0
961.5
0.5
<500 - 2,000
961.5
962.0
0.5
<500 - 2,270
963.0
964.0
1.0
<500
964.0
964.5
0.5
<500 - 750
965.0
965.5
0.5
<500 - 1,500
965.5
966.0
0.5
3,000 - 8,000
966.0
966.5
0.5
<500 - 3,000
966.5
967.0
0.5
5,000 - 6,000
967.0
967.3
0.3
5,000 - 6,000
967.3
967.5
0.2
10,000 - 49,000
967.5
968.0
0.5
1,700 - 8,100
968.0
968.5
0.5
<500 - 2,000
968.5
969.0
0.5
<500 - 1,600
969.0
969.5
0.5
<500 - 940
980.0
980.5
0.5
<500 - 4,000
981.0
981.5
0.5
<500 - 650
981.5
982.0
0.5
<500
983.0
983.5
0.5
<500 - 820
983.5
984.0
0.5
<500 - 900
984.0
984.5
0.5
1450 - 1,820
984.5
985.0
0.5
800 - 3,700
985.0
985.5
0.5
<500 - 700
985.5
986.0
0.5
<500
996.5
997.0
0.5
<500
997.5
998.0
0.5
<500
998.0
998.5
0.5
<500 - 2,280
1005.0
1006.5
1.5
<500
1008.5
1009.5
1.0
<500
1016.5
1017.0
0.5
<500 - 660
1026.5
1027.0
0.5
<500
RK-24-203
310
-70
738.0
103.7
360.5
361.0
0.5
<500
363.5
364.0
0.5
<500
470.0
471.5
1.5
<500
472.0
472.5
0.5
<500
RK-24-204
290
-70
822.0
110.1
471.5
472.0
0.5
<500
553.0
553.5
0.5
<500
554.0
555.0
1.0
<500
555.0
555.5
0.5
<500 - 570
555.5
556.0
0.5
<500 - 900
556.0
556.5
0.5
680 - 1,900
556.5
557.0
0.5
<500 - 1,300
557.0
557.5
0.5
<500 - 530
557.5
558.0
0.5
<500 - 1,150
558.0
558.5
0.5
580 - 900
558.5
559.0
0.5
<500 - 600
559.0
560.0
1.0
<500
574.0
574.5
0.5
<500 - 2,020
574.5
575.0
0.5
<500 - 1,860
575.0
575.5
0.5
<500 - 4,120
575.5
576.0
0.5
<500 - 600
576.0
576.5
0.5
<500 - 1,400
576.5
577.5
1.0
<500
578.0
578.5
0.5
<500 - 580
579.0
579.5
0.5
<500 - 580
579.5
580.0
0.5
<500
580.0
580.5
0.5
<500 - 660
580.5
580.8
0.3
2,100 - 2,800
580.8
581.0
0.2
10,000 - 11,000
581.0
581.5
0.5
3,600 - 8,000
581.5
582.0
0.5
550 - 8,700
582.0
582.5
0.5
<500 - 4,700
582.5
583.0
0.5
800 - 2,200
583.0
583.5
0.5
<500 - 1,500
583.5
584.0
0.5
<500 - 2,400
584.0
584.5
0.5
<500
585.5
586.0
0.5
<500 - 680
587.0
587.5
0.5
<500 - 5,370
587.5
588.0
0.5
900 - 7,200
588.0
588.5
0.5
<500 - 1,200
588.5
590.0
1.5
<500
595.5
596.5
1.0
<500
597.0
597.5
0.5
<500 - 510
598.5
599.0
0.5
<500 - 1,100
599.0
599.5
0.5
<500 - 3,850
599.5
600.0
0.5
<500 - 700
600.0
600.5
0.5
<500 - 3,700
600.5
601.0
0.5
<500
RK-24-205
320
-70
1032.0
109.1
459.5
464.0
4.5
<500
464.0
464.5
0.5
500 - 1,000
464.5
465.0
0.5
<500
741.5
742.0
0.5
<500 - 1,100
742.0
742.5
0.5
1,600 - 7,500
742.5
743.0
0.5
<500 - 1,500
746.5
747.0
0.5
<500 - 600
747.0
748.0
1.0
<500
766.0
766.5
0.5
<500
768.0
768.5
0.5
<500 - 950
769.0
769.5
0.5
<500 - 1,600
769.5
770.0
0.5
500 - 1,300
770.0
770.5
0.5
<500 - 1,300
770.5
771.0
0.5
700 - 1,200
771.0
771.5
0.5
<500 - 850
771.5
772.0
0.5
<500 - 700
772.5
773.5
1.0
<500
779.5
780.0
0.5
<500 - 600
780.0
780.5
0.5
<500
784.0
784.5
0.5
<500 - 1,150
784.5
785.0
0.5
<500
785.0
785.5
0.5
<500 - 700
786.0
786.5
0.5
600 - 1,400
786.5
787.0
0.5
<500 - 1,050
787.0
787.5
0.5
500 - 950
787.5
788.0
0.5
<500
788.0
788.5
0.5
<500 - 1,900
788.5
789.0
0.5
<500 - 750
789.0
789.5
0.5
800 - 4,200
789.5
790.0
0.5
900 - 4,800
790.0
790.5
0.5
<500 - 850
791.0
791.5
0.5
<500 - 2,200
791.5
792.0
0.5
<500 - 1,500
792.0
792.5
0.5
<500 - 800
792.5
793.0
0.5
<500
793.0
793.5
0.5
<500 - 1,200
793.5
793.6
0.1
<500 - 25,000
793.6
794.0
0.4
<500 - 3,000
794.0
794.5
0.5
<500
794.5
795.0
0.5
<500 - 600
795.0
795.5
0.5
<500
802.0
802.5
0.5
<500
804.0
804.5
0.5
<500
804.5
805.5
1.0
<500 - 650
807.0
807.5
0.5
<500 - 900
807.5
808.0
0.5
<500 - 550
808.0
808.5
0.5
<500
851.0
851.5
0.5
<500
853.5
854.0
0.5
<500 - 2,300
RK-24-206
298
-75
TBD
96.5
In progress
RK-24-207
330
-70
801.0
114.9
505.0
510.5
5.5
<500
514.5
515.5
1.0
<500
515.5
516.0
0.5
<500 - 980
516.0
516.5
0.5
<500 - 650
516.5
517.0
0.5
<500 - 410
517.0
517.5
0.5
<500 - 800
517.5
518.0
0.5
<500 - 950
518.0
518.5
0.5
<500
519.0
519.5
0.5
<500
519.5
520.0
0.5
550 - 8,500
520.0
520.5
0.5
1,000 - 1,750
520.5
521.0
0.5
750 - 1,500
521.0
521.5
0.5
<500 - 1,500
521.5
522.0
0.5
<500 - 800
522.0
522.5
0.5
700 - 8,500
522.5
523.0
0.5
900 - 1,400
523.0
523.5
0.5
800 - 1,700
523.5
524.0
0.5
600 - 8,200
524.0
524.5
0.5
10,000 - 32,000
524.5
525.0
0.5
5,000 - 22,000
525.0
525.1
0.1
30,000 - 60,000
525.1
525.4
0.3
>61,000
525.4
525.5
0.1
22,000 - 60,000
525.5
526.0
0.5
600 - 6,200
526.0
526.5
0.5
<500 - 3,500
526.5
527.0
0.5
1,700 - 9,800
527.0
527.5
0.5
2,800 - 20,000
527.5
528.0
0.5
500 - 24,000
528.0
528.5
0.5
750 - 1,200
528.5
529.0
0.5
2,800 - 9,500
529.0
529.5
0.5
1,100 - 6,500
529.5
530.0
0.5
1,100 - 2,900
530.0
530.5
0.5
550 - 1,600
530.5
531.0
0.5
1,500 - 4,300
531.0
531.5
0.5
550 - 900
531.5
532.0
0.5
<500 - 750
532.0
532.5
0.5
<500 - 1,200
533.0
533.5
0.5
<500 - 1,250
533.5
534.0
0.5
950 - 1,800
534.0
534.5
0.5
600 - 1,500
534.5
535.0
0.5
<500
536.0
536.5
0.5
<500
536.5
537.0
0.5
<500 - 15,000
537.0
537.5
0.5
<500 - 4,200
538.0
538.5
0.5
<500
538.5
539.0
0.5
<500 - 560
539.0
539.5
0.5
<500
540.0
540.5
0.5
<500 - 7,200
540.5
541.0
0.5
4,600 - 8,200
550.5
551.0
0.5
<500
552.0
552.5
0.5
<500 - 570
554.0
554.5
0.5
<500
558.5
559.0
0.5
<500
560.0
561.0
1.0
<500
567.5
568.0
0.5
<500
572.5
573.0
0.5
<500
578.5
579.0
0.5
<500
581.5
582.0
0.5
<500 - 1,010
583.5
584.5
1.0
<500
585.5
586.0
0.5
<500 - 780
586.0
587.0
1.0
<500
595.0
595.5
0.5
<500
595.5
596.0
0.5
<500 - 900
596.0
597.0
1.0
<500
600.5
601.0
0.5
<500
610.5
611.0
0.5
<500
619.0
620.0
1.0
<500 - 510
625.8
627.0
1.2
<500 - 550
636.8
641.0
4.2
<500
644.0
645.5
1.5
<500
717.5
718.5
1.0
<500 - 880
729.0
732.0
3.0
<500 - 980
All depths and intervals are meters downhole, true thicknesses are yet to be determined.
"Off-scale" refers to >61,000 cps total readings by gamma spectrometer type RS-125.
Unconformity of 'N/A' denotes a lack of visible contact between Athabasca sandstone and basement rock.
Maximum internal dilution 2.0 m downhole.
Minimum thickness of 0.5 m downhole.
All depths and intervals are metres downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be determined.
Table 2: Cumulative mineralization from 2024 summer program to date
Hole ID
Cumulative Radioactivity >500 cps (m)
Maximum Reading (cps)
RK-24-195
0.5
1,500
RK-24-196
10.3
14,000
RK-24-197
10.2
>61000
RK-24-198
0
N/A
RK-24-199
0
N/A
RK-24-200
1.5
970
RK-24-201
7
3,800
RK-24-202
23.6
>61000
RK-24-203
0
N/A
RK-24-204
16
11,000
RK-24-205
17
25,000
RK-24-207
26.2
>61000
All depths and intervals are meters downhole, true thicknesses are yet to be determined.
Radioactivity measured by gamma scintillometer type RS-120 and gamma spectrometer type RS-125.
Maximum readings stated as 'N/A' had no radioactivity >500 cps.
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 Jason Craven, NexGen's Manager, Exploration, a qualified person under National Instrument 43-101.
Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-125 gamma spectrometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.
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 March 6, 2024 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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