NexGen Energy Reports Positive Results at Arrow Project

NexGen Energy (TSX:NXE,NYSEAMERICAN:NXE) has announced the positive results from pre-feasibility-stage technical studies including metallurgical, geotechnical, and hydrogeological assessments. These studies were conducted on the basement-hosted Arrow Deposit, located on the company’s 100 percent owned Rook I project in Saskatchewan’s Athabasca Basin.

NexGen is a British Columbia-based corporation with a focus on the acquisition, exploration and development of Canadian uranium projects.

As quoted from the press release:

Metallurgical Study

• The bench-scale metallurgical study has demonstrated high purity yellowcake product can be produced by using peroxide and MgO. The final product, produced yellowcake, meeting or surpassing industry standards.
• High recovery rates confirmed.
• Leaching test samples representing anticipated typical mill feed resulted in 97.6 percent of uranium was recovered.
• Optimized solvent extraction (“SX”) resulted in 99.6 percent of uranium extracted.
• Strength tests meet or exceed all requirements set forth in the original design for a potential paste-backfill to be used for underground stope stability.
• Paste-backfill samples composed of representative uranium tailings mixed with binder, underwent an initial 28-day unconfined compressive strength (“UCS”) test with results surpassing the targeted high-strength Backfill of 1.5 MPa outlined in the initial mine design in the preliminary economic assessment.

Geotechnical Study

• Conventional long-hole stoping mining method confirmed.
• The geotechnical assessment supports the conventional long-hole stoping mining method including the use of longitudinal and transverse stopes, 30 m level spacing, and the nominal stope strike length of 15 m to 30 m. This represents an excellent stope stability range for underground mining in competent conditions.

Hydrogeological Study

• Hydraulic conductivity consistent with that predicted in basement rocks.
• The hydrogeological study measured hydraulic conductivity. Results were as predicted given mineralization is completely hosted in the crystalline basement rocks.
• Conductivity which measures the presence of water, decreases with depth and is expected to be lowest at depths associated with mine workings.

Development, Activities & Financial

• Pre-feasibility staged technical studies including geotechnical work, hydrogeological work, and metallurgy continue in advance of the updated Mineral Resource Estimate and maiden Pre-Feasibility Study scheduled for the end of Q3 / early Q4 2018.
• A summer drilling program is in the final stages of preparation and will begin imminently.
• The company has cash on hand of approximately C$145 million.

“Results from the metallurgical study demonstrate high recovery of uranium during the leaching and optimized solvent extraction process. Furthermore, positive results from Paste-Backfill test work has confirmed proof of concept for potential application of an underground tailings management facility. In addition to responsible tailings management, mixing tailings with cement and depositing it back underground will facilitate ongoing and continued reclamation while in operation,” said Troy Boisjoli, VP, operations and project development.

Click here to read the full press release