NexGen Energy Upgrades Resource at Arrow Deposit
The Athabasca Basin is considered to have some of the best global uranium deposits and is home to a number of uranium miners.
NexGen Energy (TSX:NXE,NYSE:NXE) has released the results of an independent pre-feasibility study and mineral resource update of the basement-hosted Arrow deposit, located on the company’s 100 percent owned Rook I project in the Athabasca Basin in Saskatchewan.
The Athabasca Basin is considered to have some of the best global uranium deposits.
As quoted from the press release:
Leigh Curyer, chief executive officer, commented: “An assessment across all of the PFS metrics, results in a substantial improvement to the PEA with a 64 percent increase in average annual after tax net cash flow. Incorporating only the indicated mineral resource, the life of mine drops from 15 to 9 years, yet the increase in average annual grade – whilst maintaining a consistent capex and lower opex – results in an after tax NPV of $3.7BN. In addition, the 43 percent increase in indicated mineral resource growth during 2017 demonstrates with closer spaced drilling, Arrow improves and optimizes mine production plans.
With these strong PFS results, the company is expediting Arrow to feasibility by initiating a 2 stage 125,000m (10 rig) high density drilling program. This will be the largest drilling, geotechnical and hydrogeological focused program in the history of NexGen. Preparations are well underway with the program brought forward and scheduled to commence in early December 2018.
I would like to take the opportunity to congratulate the entire NexGen team, key consultants, local communities and Government departments for their outstanding commitment and execution of Arrow’s development.”
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