Nexus Uranium Mobilizes to Cree East Ahead of Drilling Program
Rhea-AI Summary
Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) has announced the mobilization of crews to Cree East and the commencement of camp construction ahead of its winter drill program at its flagship uranium project in Saskatchewan's Athabasca Basin. The company has completed the winter ice access road construction, which began in December, and is currently preparing access roads to the first drill pad.
The winter drill program will utilize the MacIntyre Lake lodge facilities along with a winterized camp being constructed by Cracking River Logistics. Camp construction is expected to be completed within a week, with drilling and exploration staff arriving on site in the coming days to begin the maiden drill program, which is scheduled to run through spring and will target high-priority areas identified from previous drilling.
Positive
- Commencement of maiden drill program at flagship Cree East uranium project
- Completed construction of winter ice access road
- Program scheduled to run entire season through spring
Negative
- None.
News Market Reaction – GIDMF
In the trading session that priced this news, GIDMF gained 2.45%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Vancouver, British Columbia--(Newsfile Corp. - January 21, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus") is pleased to announce the mobilization of crews to Cree East and commencement of camp construction in advance of the winter drill program at its flagship Cree East uranium project, located in the prolific Athabasca Basin, Saskatchewan.
The winter drill program will utilize the facilities at the MacIntyre Lake lodge in addition to the construction of a winterized camp by Cracking River Logistics. The construction of the winter ice access road, which commenced in December, has been completed and preparation of access roads to the first drill pad are currently underway. Crews and supplies are being mobilized to site with camp construction commencing and anticipated to be completed within the coming week. Drilling and exploration staff are expected to be on site within the coming days commensurate with the start of the drill program.
"With the mobilization of supplies and commencement of camp construction, we are excited to commence our maiden drill program at Cree East," commented Jeremy Poirier, CEO of Nexus Uranium. "Our drill program is scheduled to run the entire season through to the spring and will follow-up on a number of high-priority targets intersected in prior drilling."
About Nexus Uranium Corp.
Nexus Uranium Corp. is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin in addition to its precious metals portfolio that includes the Napoleon gold project in British Columbia and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over
The technical content of this news release has been reviewed and approved by Warren D. Robb, P.Geo. (BC), a Director and VP Exploration of Nexus Uranium Corp. and a Qualified Person under National Instrument 43-101.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com
This news release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, any planned exploration at the Cree East Project. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the Company will be successful in finalizing its planned drill program, including retaining a contractor to complete such program. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to: the risk that the conditions to closing of the proposed sale of the Company's interest in the Independence Project will not be satisfied and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237874