NexGen's 51% owned subsidiary, IsoEnergy (www.isoenergy.ca) holds a highly prospective portfolio of uranium exploration projects in the historic Eastern Athabasca Basin.
IsoEnergy holds 15 strategically located and prospective assets in the eastern Athabasca Basin, with Larocque East, Geiger, Thorburn Lake and Radio being the highest priority properties.
The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371ha and is not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 kilometres northwest of Orano Canada’s McClean Lake uranium mine and mill.
The Larocque East property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July, 2018 and was followed up with a 12-hole drilling campaign in the winter of 2019 and a recently completed 17-hole summer drilling campaign. Dimensions are currently 500m along-strike, 40m wide and up to 10m thick. The zone is open for expansion along-strike and on most sections.
The Geiger property hosts high grade basement hosted uranium mineralization up to 2.74% U3O8 over 1.2 metres and is located within 20 kilometres of the McClean Lake uranium mill.
In addition to Larocque East and Geiger, the Company holds a 100% interest in the Thorburn Lake project which is located 7 kilometers east of Cameco's Cigar Lake mine. Uranium has been intersected on the property, including 0.6 metres of 0.43% U3O8 in drill hole DDH-11-05a in basement rocks immediately below the sub-Athabasca unconformity. Numerous geophysical targets remain to be drilled at Thorburn Lake.
IsoEnergy also holds a 100%-interest in the Radio project. Radio is located 2 kilometres east (and along strike) of Rio Tinto’s Roughrider uranium deposit. Exploration drilling by IsoEnergy in 2016 and 2017 has located a large zone of strong clay alteration with locally elevated uranium geochemistry in basement rocks along the southern boundary of the property. Additional targets warrant drill testing.