NexGen's 2024 exploration campaign delivered a new discovery on Rook I at Patterson Corridor East ("PCE") 3.5km east of Arrow.
Subsequent drilling has materially expanded the mineralized zone to 600 m strike length and 600 m vertical extent with 19 of 30 holes intersecting mineralization including 10 holes with multiple intervals >10,000 cps.
Today's announcement highlights the best hole to date at PCE (RK-24-222) returns 17.0 m wide vein with multiple high intensity (>61,000 cps) occurrences.
In 2024, PCE is the largest drill program in the Athabasca Basin by any Company at 34,000 meters (m).
VANCOUVER, BC, Nov. 12, 2024 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is proud to announce the completion of its 2024 drilling campaign at Patterson Corridor East (PCE) that included more than 34,000 m across a total of 46 drillholes. Upon initial discovery of intense uranium mineralization at PCE (see March 11 News Release), the Company directed all drilling activity to focus exclusively on PCE, whereby 19 of 30 holes intersected mineralization. Bold and systematic spacing of drillhole intercepts have quickly grown the discovery from a single hole to a broad and continuous new uranium discovery. Real-time evaluation of results throughout the duration of the program focused on determining the overall outer extents of the mineralized zone and in parallel, precisely targeting high-grade sub-domains (Figures 1 and 2, Table 1).
Figure 1: Map view of PCE target area with the mineralized footprint wireframe shown in red; as of November 11, 2024 (CNW Group/NexGen Energy Ltd.)
Figure 2: Schematic long section comparison from mid-summer 2024 to November 2024 of mineralized footprint at PCE; additional drilling has maintained internal continuity with modest expansion in most directions (CNW Group/NexGen Energy Ltd.)
Figure 3: Core photo from RK-24-222; high-grade mineralization is hosted near continuously within an overall vein width of 17.0 m from 604.5 to 621.5 m with a secondary vein below from 623.0 to 626.0 m; yellow outlines >1,000 cps while red outlines >10,000 cps (CNW Group/NexGen Energy Ltd.)
Figure 4: RK-24-222 close-up of off-scale (>61,000 cps) massive replacement by uraninite haloed by hematite at 607.4 m (CNW Group/NexGen Energy Ltd.)
Figure 5: RK-24-222 semi-massive replacement by uraninite accompanied by argillization and hematite at 618.5 m, max peak of >61,000 cps (CNW Group/NexGen Energy Ltd.)
In late October, a high-grade portion has presented itself within the overall mineralized zone with upgraded intensity of mineralization in the now best hole to date, RK-24-222 (Figure 3). A 17.0 m wide vein with multiple occurrences of off-scale (>61,000 cps) mineralization (Table1, Figure 3). In addition, RK-24-220 and -223 intersected strong mineralization up to 41,000 cps and 40,000 cps, respectively including multiple intercepts of >10,000 cps. System strength is confirmed by these zones characterized by semi-massive to massive replacement by uraninite. A high-grade sub-domain of the mineralized footprint now covers 100 m of strike and 170 m of depth extent with potential growth in all directions (Figure 2). The high-grade intersection in RK-24-222 represents the fifth drillhole at PCE to return off-scale (>61,000 cps) mineralization, joining previous significant intersections in RK-24-183, -197, -202, and -207.
Leigh Curyer, Chief Executive Officer, commented: "This focused effort has elevated the materiality of PCE and today's results highlight the increasing potential of the PCE system with RK-24-222. With 600 m of strike length and 600 m of depth extent, this new zone located entirely within competent basement rock only 3.5 km from the flagship world-class Arrow deposit has emerged as a compelling and prospective addition to NexGen's dominant portfolio in the south western section of the Athabasca Basin.
NexGen's disciplined dual focus on the advancement of the Rook I Project and the expanded exploration at PCE demonstrates the Company's commitment to unlocking the full potential of this major uranium district at a time where the need for clean affordable safe baseload energy has never been more evident. With the world's leading tech companies all committing to nuclear power in recent month's the outlook is incredibly exciting in the nuclear fuel space."
Assays from disclosed intersections are expected in Q4 2024 and Q1 2025, with reporting to follow. Exploration activity will resume in January 2025 with planning underway for a significant drill program at PCE where the prospectivity for material growth is clearly evident.
Table 1: 2024 Spectrometer results since previous release on August 8, 2024
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-24-208
310
-70
756
104.3
435
435.5
0.5
<500
435.5
436
0.5
<500 - 710
522
522.5
0.5
<500
523
523.5
0.5
<500
655
655.5
0.5
<500 - 750
655.5
656
0.5
<500
657.5
658
0.5
<500
658.5
659
0.5
<500
665.5
666
0.5
<500
666
666.5
0.5
<500 - 610
669.5
670.5
1
<500
670.5
671
0.5
560 - 950
671
671.5
0.5
1400 - 3560
673
673.5
0.5
<500 - 690
673.5
674
0.5
500 - 1140
674
675
1
<500
680
681
1
<500
685.5
686
0.5
<500 - 600
686.5
687
0.5
600 - 800
687
687.5
0.5
900 - 3000
687.5
688
0.5
<500 - 3000
689
689.5
0.5
<500 - 500
689.5
690
0.5
1300 - 5700
690
690.5
0.5
<500 - 2400
690.5
691
0.5
<500
691.5
692
0.5
<500 - 1800
692
692.5
0.5
<500 - 1600
692.5
693
0.5
<500
693
693.5
0.5
<500 - 1300
693.5
694
0.5
<500 - 500
694
694.5
0.5
<500 - 610
694.5
695
0.5
<500 - 600
695
695.5
0.5
550 - 1500
695.5
696
0.5
<500 - 3500
696
696.5
0.5
<500 - 810
697.5
698.5
1
<500
RK-24-209
310
-70
840
110.7
395
396
1
<500
627.5
628
0.5
<500 - 510
695
695.5
0.5
<500
759
759.5
0.5
<500 - 600
RK-24-210
310
-70
1095
102.4
639
639.5
0.5
<500
639.5
640
0.5
<500 - 510
640
640.5
0.5
<500
854
854.5
0.5
<500 - 700
854.5
855
0.5
<500
855.5
856
0.5
<500 - 1600
856
856.5
0.5
<500 - 1800
857.5
858
0.5
<500
858
858.5
0.5
<500 - 1600
862
862.5
0.5
<500 - 950
863.5
864
0.5
<500 - 700
869
869.5
0.5
<500 - 600
869.5
870
0.5
<500 - 500
874.5
875
0.5
<500 - 550
875.5
876
0.5
<500 - 3800
876
876.5
0.5
2700 - 6500
876.5
877
0.5
<500 - 1100
877
879
2
<500
879
879.5
0.5
<500 - 1200
879.5
880
0.5
<500 - 700
880
880.5
0.5
<500 - 750
880.5
881
0.5
600 - 1200
881
881.5
0.5
<500 - 600
881.5
882
0.5
<500 - 900
882
882.5
0.5
<500 - 1500
882.5
883
0.5
800 - 3400
883
883.5
0.5
<500 - 520
884.5
885
0.5
<500
885.5
886
0.5
<500 - 600
886
886.5
0.5
<500 - 1100
886.5
887
0.5
<500 - 1600
888
888.5
0.5
<500
888.5
889
0.5
<500 - 900
915.5
916.5
1
<500
920
920.5
0.5
<500 - 500
921
921.5
0.5
<500 - 700
921.5
922
0.5
<500
RK-24-211
310
-70
1302
103.1
776.5
777
0.5
<500
784
784.5
0.5
<500
1116.5
1117
0.5
<500
RK-24-212
315
-70
137
121
No Significant Intersections
RK-24-213
310
-70
936
87
No Significant Intersections
RK-24-214
310
-70
989
111.6
463
463.5
0.5
<500
466.5
467
0.5
<500
859.5
860
0.5
<500
862.5
863.5
1
<500
863.5
864
0.5
<500 - 950
865
865.5
0.5
<500
865.5
866
0.5
<500 - 540
866
866.5
0.5
<500 - 1400
867.5
868
0.5
<500
868
868.5
0.5
<500 - 650
868.5
869
0.5
<500 - 2200
869.5
870
0.5
<500
RK-24-215
310
-70
840
114.8
542
542.5
0.5
600 - 1300
542.5
543
0.5
2200 - 3200
543
543.5
0.5
6000 - 11000
543.5
544
0.5
<500 - 5000
544
544.5
0.5
<500 - 700
544.5
545
0.5
600 - 3500
545
545.5
0.5
500 - 1800
545.5
546
0.5
<500 - 700
546
546.5
0.5
<500 - 1400
546.5
547
0.5
<500 - 1150
547
547.5
0.5
<500
551.5
552
0.5
<500 - 1700
552
553.5
1.5
<500
564.5
565
0.5
<500 - 700
570
570.5
0.5
<500
570.5
571
0.5
<500 - 800
571
571.5
0.5
<500
571.5
572
0.5
<500 - 600
572
572.5
0.5
<500
583.5
584
0.5
<500
584.5
585
0.5
<500
585
585.5
0.5
600 - 1500
585.5
586
0.5
<500 - 550
586
586.5
0.5
<500 - 700
586.5
587
0.5
<500 - 800
587
588
1
<500
588
588.5
0.5
600 - 2000
588.5
589
0.5
700 - 2100
589
589.5
0.5
<500 - 1300
589.5
590
0.5
1200 - 1500
590.5
591
0.5
<500
600
600.5
0.5
<500 - 500
604.5
605
0.5
<500
608.5
609
0.5
<500
609
609.5
0.5
800 - 2850
609.5
610
0.5
<500
610
610.5
0.5
<500 - 850
621.5
622
0.5
<500 - 1500
622
622.5
0.5
<500 - 700
643
643.5
0.5
<500
646
646.5
0.5
<500 - 700
646.5
647
0.5
<500 - 1300
647
647.5
0.5
<500 - 2500
647.5
648
0.5
<500 - 700
648
649
1
<500
657
657.5
0.5
<500 - 1200
658
658.5
0.5
<500 - 500
658.5
659
0.5
<500 - 500
659
659.5
0.5
<500 - 1950
665.5
666
0.5
<500 - 600
681
681.5
0.5
<500 - 900
681.5
682
0.5
<500 - 850
RK-24-216
310
-70
1071
99.7
787
787.5
0.5
<500 - 600
787.5
788
0.5
1100 - 3700
788
788.5
0.5
800 - 1200
788.5
789
0.5
<500
789.5
790
0.5
<500 - 700
790
790.5
0.5
<500 - 700
790.5
791
0.5
<500
791.5
792
0.5
<500 - 550
805
805.5
0.5
<500 - 740
805.5
806
0.5
<500
807.5
808.5
1
<500
811.5
812
0.5
<500 - 5800
815
815.5
0.5
<500 - 760
815.5
816
0.5
<500 - 700
819
820
1
<500
RK-24-217
310
-70
1185
105.6
519
520
1
<500
528.5
529
0.5
<500
709
710
1
<500
RK-24-217a
310
-70
120
105.1
No Significant Intersections
RK-24-218
310
-70
696
109.6
325.5
326
0.5
<500 - 830
424.5
425
0.5
<500 - 550
425.5
426
0.5
<500
463.5
464
0.5
<500 - 520
494.5
495
0.5
<500 - 550
515.5
516
0.5
<500
516
516.5
0.5
<500 - 700
516.5
517
0.5
<500 - 1200
517
517.5
0.5
500 - 4300
517.5
518
0.5
<500 - 1200
518
518.5
0.5
1000 - 2000
518.5
519
0.5
<500 - 1000
RK-24-219
310
-70
1187
99.8
758.5
759
0.5
<500 - 1050
759.5
760
0.5
<500 - 1100
897.5
898
0.5
<500
982
982.5
0.5
<500 - 570
RK-24-220
310
-70
732
116
387
387.5
0.5
<500
445.5
446
0.5
<500 - 510
446
446.5
0.5
<500 - 660
446.5
447
0.5
<500
452
452.5
0.5
<500 - 2400
452.5
453
0.5
<500 - 2000
453
454.5
1.5
<500
454.5
455
0.5
<500 - 650
455.5
456
0.5
<500 - 1700
456
456.5
0.5
600 - 1300
456.5
457
0.5
<500 - 1200
457
457.5
0.5
700 - 27000
457.5
458
0.5
1700 - 41000
459.5
460
0.5
<500 - 550
460
461
1
<500
461
461.5
0.5
<500 - 7000
461.5
462
0.5
<500 - 6000
462
462.5
0.5
740 - 2000
462.5
463
0.5
3500 - 4500
463
463.5
0.5
1300 - 6000
463.5
464
0.5
600 - 6500
464
464.5
0.5
600 - 2000
464.5
465
0.5
700 - 4000
465
465.5
0.5
<500 - 5600
465.5
466
0.5
1200 - 8200
466
466.5
0.5
<500 - 6000
477.5
478
0.5
<500 - 750
478
478.5
0.5
<500 - 800
479
479.5
0.5
<500
479.5
480
0.5
<500 - 800
480
480.5
0.5
<500 - 680
480.5
481
0.5
680 - 1300
481
481.5
0.5
<500 - 600
481.5
482
0.5
<500
482
482.5
0.5
<500 - 520
482.5
483
0.5
<500 - 520
483
483.5
0.5
<500
483.5
484
0.5
<500 - 800
484
484.5
0.5
<500 - 1100
484.5
485
0.5
<500 - 16000
485
485.5
0.5
3000 - 16000
485.5
486
0.5
<500 - 7000
486
486.5
0.5
<500 - 13000
486.5
487
0.5
<500 - 1200
487
488
1
<500
489
489.5
0.5
<500 - 640
489.5
490
0.5
<500 - 950
490
490.5
0.5
<500 - 800
490.5
491
0.5
<500 - 2100
491
491.5
0.5
<500 - 6000
491.5
492
0.5
<500 - 840
495
495.5
0.5
<500
495.5
496
0.5
<500 - 6800
496
496.5
0.5
<500 - 4100
496.5
497
0.5
<500 - 6000
497
497.5
0.5
2600 - 2600
497.5
498
0.5
<500 - 500
498
498.5
0.5
<500 - 1800
498.5
499
0.5
<500
503
503.5
0.5
<500 - 1500
503.5
504.5
1
<500
525.5
526
0.5
<500
539
539.5
0.5
<500
539.5
540
0.5
540 - 7300
570.5
571
0.5
<500 - 730
579.5
580
0.5
<500
580
580.5
0.5
<500 - 510
580.5
581
0.5
<500 - 520
583
583.5
0.5
<500
583.5
584
0.5
<500 - 1500
584
584.5
0.5
<500 - 620
596.5
597
0.5
<500 - 1300
597
597.5
0.5
<500 - 1300
599.5
600
0.5
<500
RK-24-221
310
-70
861.6
115.9
302
302.5
0.5
<500
302.5
303
0.5
<500 - 600
303
303.5
0.5
<500 - 830
594.5
595
0.5
<500
595
595.5
0.5
<500 - 1700
597.5
598
0.5
<500 - 5500
599
599.5
0.5
<500 - 2700
642
642.5
0.5
<500
642.5
643
0.5
<500 - 520
643
643.5
0.5
<500 - 1100
644
644.5
0.5
<500
650.5
651
0.5
<500 - 670
697.5
698
0.5
<500
698
698.5
0.5
<500 - 2300
RK-24-222
354
-65
753
108.4
588
588.5
0.5
770 - 1200
598
599.5
1.5
<500
602.5
603
0.5
<500 - 820
603
603.5
0.5
640 - 2000
603.5
604.5
1
<500
604.5
605
0.5
3000 - 20000
605
605.5
0.5
5800 - 17000
605.5
605.6
0.1
18000 - 60000
605.6
605.7
0.1
>61000
605.7
606
0.3
9000 - 60000
606
606.5
0.5
1800 - 10000
606.5
607
0.5
<500 - 730
607
607.4
0.4
3000 - 60000
607.4
607.8
0.4
>61000
607.8
608
0.2
5000 - 60000
608
608.2
0.2
16000 - 60000
608.2
608.4
0.2
>61000
608.4
608.5
0.1
10000 - 60000
608.5
609
0.5
6400 - 42000
609
609.5
0.5
10000 - 25000
609.5
610
0.5
7000 - 25000
610
610.5
0.5
<500 - 6000
610.5
610.9
0.4
7000 - 60000
610.9
611
0.1
>61000
611
611.5
0.5
4000 - 26000
611.5
612
0.5
3000 - 10000
612
612.5
0.5
700 - 3000
612.5
613
0.5
3000 - 7000
613
613.5
0.5
700 - 6000
613.5
614
0.5
2000 - 33000
614
614.5
0.5
900 - 6000
614.5
615
0.5
1900 - 39000
615
615.5
0.5
580 - 15000
615.5
616
0.5
500 - 5000
616
616.5
0.5
900 - 7500
616.5
617
0.5
900 - 25000
617
617.5
0.5
2800 - 14000
617.5
618
0.5
1100 - 3500
618
618.4
0.4
1300 - 60000
618.4
618.5
0.1
>61000
618.5
619
0.5
15000 - 31000
619
619.5
0.5
9800 - 39000
619.5
620
0.5
3400 - 14500
620
620.5
0.5
1800 - 24000
620.5
621
0.5
2500 - 25000
621
621.5
0.5
<500 - 2800
622
622.5
0.5
<500 - 580
622.5
623
0.5
<500 - 800
623
623.5
0.5
550 - 18000
623.5
624
0.5
500 - 1400
624
624.5
0.5
<500 - 700
624.5
625
0.5
<500 - 10000
625
625.4
0.4
500 - 60000
625.4
625.5
0.1
>61000
625.5
626
0.5
700 - 40000
627
627.5
0.5
<500
629
629.5
0.5
<500 - 1000
640
640.5
0.5
<500 - 600
640.5
641
0.5
<500 - 510
649
649.5
0.5
<500
658
658.5
0.5
<500 - 800
658.5
659
0.5
<500
665
665.5
0.5
<500
668
668.5
0.5
<500 - 800
668.5
669
0.5
<500 - 560
671
671.5
0.5
<500
687
687.5
0.5
<500
RK-24-223
345
-66
TBD
106.8
336
336.5
0.5
<500 - 800
633
633.5
0.5
<500 - 7200
633.5
634
0.5
<500 - 40000
634
634.5
0.5
<500 - 1300
634.5
635
0.5
<500 - 1700
635
635.5
0.5
<500
645.5
646
0.5
<500 - 740
646
646.5
0.5
2100 - 10000
646.5
647
0.5
7500 - 24000
647
647.5
0.5
1000 - 24000
675
675.5
0.5
500 - 4200
675.5
676
0.5
1200 - 7200
676
676.5
0.5
<500 - 3700
678
678.5
0.5
<500 - 700
678.5
679
0.5
<500
679.5
680
0.5
<500 - 800
689.5
690
0.5
<500 - 2500
690
690.5
0.5
5000 - 14000
690.5
691
0.5
4000 - 12000
691
691.5
0.5
<500 - 6000
691.5
692
0.5
3000 - 12000
692
692.5
0.5
5000 - 14000
692.5
693
0.5
<500 - 1100
695.5
696
0.5
<500 - 3100
696
696.5
0.5
<500 - 1500
696.5
697
0.5
<500
702.5
703.5
1
<500
704.5
705
0.5
<500
713.5
714
0.5
<500 - 1700
714.5
715
0.5
<500
715
715.5
0.5
<500 - 1200
716
716.5
0.5
1200 - 1800
716.5
717
0.5
<500 - 1100
717
717.5
0.5
1500 - 2200
717.5
718
0.5
<500 - 2000
718
718.5
0.5
<500 - 5100
720.5
721
0.5
<500 - 5900
721
721.5
0.5
<500 - 2000
722
722.5
0.5
1100 - 12000
722.5
723
0.5
1500 - 23000
723
723.5
0.5
3500 - 37000
726
726.5
0.5
<500 - 3000
726.5
727
0.5
3000 - 12000
727
727.5
0.5
<500
737.5
738
0.5
<500 - 5000
738
738.5
0.5
<500 - 1400
743
743.5
0.5
<500 - 700
749
750
1
<500
756.5
757
0.5
<500
757.5
758
0.5
<500
758.5
759
0.5
<500
759
759.5
0.5
<500 - 720
760
760.5
0.5
<500 - 3000
763.5
764
0.5
<500 - 650
764.5
765.5
1
<500
765.5
766
0.5
900 - 3700
766
766.5
0.5
800 - 15000
766.5
767
0.5
800 - 25000
767
767.5
0.5
1000 - 11000
767.5
768
0.5
<500
772
772.5
0.5
<500-500
772.5
773
0.5
<500
773.5
774
0.5
<500 - 700
774
774.5
0.5
<500 - 10000
775
775.5
0.5
<500
RK-24-224
310
-70
TBD
115.8
TBD
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.
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.
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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