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NexGen Announces Best Hole (RK-24-207) to Date and Material Expansion of Mineralized Zone at Patterson Corridor East

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NexGen Energy announced significant expansions in the mineralized zone at Patterson Corridor East (PCE) as part of their Summer Drill Program initiated on May 21, 2024. Eight out of twelve drill holes intersected mineralization. The zone spans 540 m along strike and 600 m vertically, featuring high-grade uranium mineralization with intervals open at depth and along strike.

The standout drill hole, RK-24-207, showcased massive replacement by uraninite, confirming a robust mineralized system. To date, four drill holes identified high-grade uranium mineralization (>61,000 cps), including RK-24-183, -197, -202, and -207. NexGen's CEO, Leigh Curyer, emphasized the geological similarities between PCE and the prolific Arrow Deposit, underlining PCE's potential.

The summer program has drilled 10,045.5 m of the planned 22,000 m. Assay results are expected in Q4 2024. The focus remains on testing the system's extent and identifying high-grade zones. The mineralization is hosted in silicified orthogneiss, a favorable setting for underground mining.

NexGen Energy ha annunciato significative espansioni nella zona mineralizzata a Patterson Corridor East (PCE) come parte del loro Programma di Perforazione Estivo avviato il 21 maggio 2024. Otto dei dodici fori di perforazione hanno intercettato minerali. La zona si estende per 540 m lungo la strike e 600 m in verticale, presentando mineralizzazione di uranio di alta qualità con intervalli aperti in profondità e lungo la strike.

Il foro di perforazione degno di nota, RK-24-207, ha mostrato una sostituzione massiva da parte dell'uraninite, confermando un robusto sistema mineralizzato. Finora, quattro fori di perforazione hanno identificato mineralizzazione di uranio di alta qualità (>61.000 cps), tra cui RK-24-183, -197, -202 e -207. Il CEO di NexGen, Leigh Curyer, ha sottolineato le somiglianze geologiche tra PCE e il prolifico Arrow Deposit, evidenziando il potenziale di PCE.

Il programma estivo ha perforato 10.045,5 m dei 22.000 m previsti. I risultati delle analisi sono attesi nel Q4 2024. L'obiettivo rimane testare l'estensione del sistema e identificare zone ad alta mineralizzazione. La mineralizzazione è ospitata in ortognaiss silicificato, un ambiente favorevole per l'estrazione sotterranea.

NexGen Energy anunció expansiones significativas en la zona mineralizada en el Patterson Corridor East (PCE) como parte de su Programa de Perforación de Verano iniciado el 21 de mayo de 2024. Ocho de los doce agujeros de perforación intersectaron mineralización. La zona se extiende 540 m a lo largo de la strike y 600 m en vertical, presentando mineralización de uranio de alta calidad con intervalos abiertos en profundidad y a lo largo de la strike.

El agujero de perforación destacado, RK-24-207, mostró un reemplazo masivo por uranina, confirmando un robusto sistema mineralizado. Hasta la fecha, cuatro agujeros de perforación identificaron mineralización de uranio de alta calidad (>61,000 cps), incluyendo RK-24-183, -197, -202 y -207. El CEO de NexGen, Leigh Curyer, enfatizó las similitudes geológicas entre PCE y el prolífico Arrow Deposit, subrayando el potencial de PCE.

El programa de verano ha perforado 10,045.5 m de los 22,000 m planificados. Se esperan resultados de análisis en el Q4 de 2024. El enfoque sigue siendo probar la extensión del sistema e identificar zonas de alta calidad. La mineralización se encuentra en ortogneis silicificado, un entorno favorable para la minería subterránea.

NexGen Energy는 2024년 5월 21일 시작된 여름 굴착 프로그램의 일환으로 Patterson Corridor East (PCE)에서 광물화 구역의 중요한 확장을 발표했습니다. 12개의 굴착 홀 중 8개가 광물화를 교차했습니다. 이 구역은 스트라이크 방향으로 540m, 수직 방향으로 600m에 걸쳐 있으며, 깊이와 스트라이크 방향으로 열린 구간이 있는 고품질 우라늄 광물화가 특징입니다.

특히 주목할 만한 굴착 홀인 RK-24-207은 우라니나이트에 의한 대규모 교체를 보여주며, 강력한 광물화 시스템을 확인했습니다. 현재까지 4개의 굴착 홀이 고품질 우라늄 광물화(>61,000 cps)를 확인했으며, RK-24-183, -197, -202 및 -207을 포함합니다. NexGen의 CEO인 Leigh Curyer는 PCE와 생산적인 Arrow Deposit 간의 지질학적 유사성을 강조하며 PCE의 잠재력을 강조했습니다.

여름 프로그램은 계획된 22,000m 중 10,045.5m를 굴착했습니다. 분석 결과는 2024년 4분기에 예상됩니다. 초점은 시스템의 범위를 테스트하고 고품질 구역을 식별하는 것입니다. 광물화는 실리카화된 오르토가나이스에 위치해 있으며, 이는 지하 채굴에 유리한 환경입니다.

NexGen Energy a annoncé des expansions significatives dans la zone mineralisée au Patterson Corridor East (PCE) dans le cadre de leur Programme de Forage d'Été lancé le 21 mai 2024. Huit des douze forages ont intercepté de la minéralisation. La zone s'étend sur 540 m en longueur et 600 m en profondeur, avec une minéralisation d'uranium de haute qualité et des intervalles ouverts en profondeur et le long de la strike.

Le forage phare, RK-24-207, a démontré un remplacement massif par l'uraninite, confirmant un système minéralisé robuste. À ce jour, quatre forages ont identifié une minéralisation d'uranium de haute qualité (>61 000 cps), y compris RK-24-183, -197, -202 et -207. Le PDG de NexGen, Leigh Curyer, a souligné les similarités géologiques entre le PCE et le prolifique gisement d'Arrow, soulignant le potentiel du PCE.

Le programme d'été a déjà foré 10 045,5 m des 22 000 m prévus. Les résultats des analyses sont attendus pour le quatrième trimestre de 2024. L'accent reste mis sur le test de l'étendue du système et l'identification des zones de haute qualité. La minéralisation est contenue dans de l'orthogneiss silicifié, un environnement favorable à l'exploitation souterraine.

NexGen Energy gab bedeutende Erweiterungen der mineralisierten Zone im Patterson Corridor East (PCE) bekannt, die Teil ihres Sommerbohrprogramms ist, das am 21. Mai 2024 gestartet wurde. Acht der zwölf Bohrlöcher schnitt Mineralisierung. Die Zone erstreckt sich über 540 m entlang der Strike und 600 m in der Vertikalen und zeichnet sich durch hochgradige Uranmineralisierung mit offenen Intervallen in der Tiefe und entlang der Strike aus.

Das herausragende Bohrloch RK-24-207 zeigte eine massive Ersetzung durch Uraninit und bestätigte ein robustes mineralisiertes System. Bisher haben vier Bohrlöcher hochgradige Uranmineralisierung (>61.000 cps) identifiziert, darunter die Löcher RK-24-183, -197, -202 und -207. NexGens CEO, Leigh Curyer, betonte die geologischen Ähnlichkeiten zwischen PCE und dem produktiven Arrow Deposit und hob das Potenzial von PCE hervor.

Das Sommerprogramm hat bereits 10.045,5 m der geplanten 22.000 m gebohrt. Die Analyseergebnisse werden im vierten Quartal 2024 erwartet. Der Fokus bleibt darauf, das Ausmaß des Systems zu testen und hochgradige Zonen zu identifizieren. Die Mineralisierung ist in silicifiziertem Orthogneis untergebracht, einem günstigen Umfeld für den Untertagebau.

Positive
  • Significant expansion of mineralized zone at Patterson Corridor East.
  • High-grade uranium mineralization identified in four drill holes, notably RK-24-207.
  • Confirmation of geological similarities with the prolific Arrow Deposit.
  • 10,045.5 meters drilled in the summer program, with assays pending in Q4 2024.
Negative
  • Assay results are still pending, may impact preliminary assessments.

Insights

The recent drilling results at Patterson Corridor East (PCE) are highly significant for NexGen Energy. The mineralized zone has expanded substantially, now spanning 540 m along strike with a 600 m vertical extent. This is a major increase from the initial discovery.

Key highlights include:

  • Off-scale (>61,000 cps) high-grade uranium mineralization in 4 drillholes
  • First instance of massive uraninite replacement, indicating a strongly mineralized system
  • Best intercept in RK-24-207 with 1.5 m >10,000 cps (including 0.3 m >61,000 cps)

These results suggest PCE could potentially host a large, high-grade uranium deposit similar to Arrow. The geological characteristics and mineralization style are very analogous, which is extremely promising for NexGen's future exploration and resource potential in this area.

This news is highly positive for NexGen Energy's future prospects. The expanded mineralization at PCE significantly increases the company's resource potential, which could translate to substantial value creation for shareholders.

Key financial implications:

  • Increased exploration upside: The similarities to Arrow suggest PCE could become another major asset, potentially doubling NexGen's resource base.
  • Cost-effective exploration: With 8 out of 12 drillholes intersecting mineralization, the hit rate is impressive, indicating efficient use of exploration capital.
  • Long-term growth potential: The discovery validates the prospectivity of NexGen's land package, suggesting multiple development opportunities beyond the Rook I project.

Investors should note that while these results are promising, further drilling and economic studies are needed to fully assess PCE's value. Nevertheless, this discovery significantly de-risks NexGen's growth story and could lead to a re-rating of the stock.

NexGen's discovery at PCE has significant implications for the uranium market. The potential for another large, high-grade deposit in the Athabasca Basin could impact long-term supply projections and investor sentiment in the sector.

Key market considerations:

  • Supply security: The discovery reinforces Canada's position as a stable, long-term uranium supplier, important for global energy security.
  • Grade advantage: High-grade deposits like PCE and Arrow are economically attractive even in low uranium price environments, providing a competitive edge.
  • ESG factors: The deposit's location in a stable jurisdiction with strong environmental regulations aligns with growing ESG concerns among utilities and investors.

While it's too early to quantify PCE's impact on future uranium supply, the discovery strengthens the bullish case for uranium. It demonstrates the potential for significant new discoveries in established districts, which could help meet growing demand from the expanding global nuclear fleet.

VANCOUVER, BC, Aug. 8, 2024 /PRNewswire/ - 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.

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.

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.)

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.

A technical report in respect of the FS is filed on SEDAR ( www.sedar.com ) and EDGAR (www.sec.gov/edgar.shtml ) and is available for review on NexGen Energy's website (www.nexgenenergy.ca ).

Cautionary Note to U.S. Investors

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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/nexgen-announces-best-hole-rk-24-207-to-date-and-material-expansion-of-mineralized-zone-at-patterson-corridor-east-302217775.html

SOURCE NexGen Energy Ltd.

FAQ

What significant discoveries did NexGen make at Patterson Corridor East?

NexGen announced the expansion of the mineralized zone at Patterson Corridor East with eight out of twelve drill holes intersecting mineralization, featuring high-grade uranium mineralization.

When did NexGen's Summer Drill Program commence?

NexGen's Summer Drill Program commenced on May 21, 2024.

What was the standout drill hole in NexGen's recent findings?

The standout drill hole was RK-24-207, which featured significant high-grade uranium mineralization and massive replacement by uraninite.

How much drilling has been completed in NexGen's Summer Drill Program?

As of now, NexGen has completed 10,045.5 meters of drilling out of the planned 22,000 meters in their Summer Drill Program.

When are the assay results from NexGen's Summer Drill Program expected?

The assay results from NexGen's Summer Drill Program are expected in Q4 2024.

How does NexGen's recent discovery compare to the Arrow Deposit?

The recent discovery at Patterson Corridor East shows geological similarities to the Arrow Deposit, indicating a potential large, high-grade uranium system.

NexGen Energy Ltd.

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