Southwest Athabasca Basin
NexGen has significant land positions in both the historic eastside and the emerging southwest side of the Athabasca Basin in Saskatchewan, Canada. NexGen holds over 259,000 hectares of land in the southwest part of the Athabasca Basin. The Company's 100%-owned Rook I project hosts the land based Arrow deposit which has an Indicated mineral resource estimate of 179.5Mlbs U3O8 contained within 1.18Mt grading 6.88% U3O8 including a high-grade core of 164.9Mlbs U3O8 contained within 0.40Mt grading 18.84% U3O8 and an Inferred mineral resource estimate of 122.1Mlbs U3O8 contained within 4.25Mt grading 1.30% U3O8 (see the Company's technical disclosure statement: http://www.nexgenenergy.ca/corporate/corporate-governance/). The deposit was based on only 200 drill holes and the Arrow deposit has a defined area of mineralization of 875 m x 280 m, depth starting at 100 m down to 980 m and remains open in most directions and at depth.
Arrow is a 100% land-based, basement-hosted and high-grade uranium discovery which is the largest development-stage uranium deposit in Canada. Additionally, the Company made the “Harpoon” discovery (August 11, 2016), the "Bow" discovery (March 31, 2015) and the Cannon discovery (April 18, 2016) 4.7 km, 3.7 km and 1.3 km northeast of Arrow, respectively. Harpoon is the most significant mineralized area discovered since the discovery of Arrow. The Company remains well-funded to continue its program of expansion and infill drilling the Arrow deposit as well as further drill testing Harpoon, Bow and Cannon as well as other prospective parts of the Rook I property.
The Company holds a 72% interest in IsoEnergy Ltd. (www.isoenergy.ca) which holds a portfolio off strategically located and prospective assets in the eastern Athabasca Basin including a 100%-interest in the Thorburn Lake project which is located southwest of the Radio property and 7 km east of Cameco's Cigar Lake mine. The Thorburn property contains a major northeast-southwest lineament that intersects with the Midwest and Roughrider deposits to the northeast. Several uranium drill intersections exist on the property from 2008 and 2011 drill programs, which included: 0.168% U3O8 over 0.60 metres in drill hole DDH-11-05a at the Athabasca Group and basement unconformity.
IsoEnergy also holds an option to earn an initial 70%-interest (with a first right on the remaining 30%) in the Radio project. IsoEnergy can earn the initial interest by spending CAD$10 million in exploration expenditures by May 31, 2017.