NexGen Energy
NexGen Energy is developing the Rook I Project, the largest development-stage uranium project in Canada, located in the Athabasca Basin, Saskatchewan. The project is centered around the Arrow Deposit and is designed with strong ESG commitments and advanced mining technologies.
Rook I Project Overview
The Rook I Project is the largest development-stage uranium project in Canada, located in the uranium-rich district of the southwestern area of the Athabasca Basin in Saskatchewan. Centered around the land-based, basement-hosted Arrow Deposit, the project received Ministerial approval under The Environmental Assessment Act of Saskatchewan on November 9, 2023. NexGen is the first company in over 20 years to receive full Provincial Environmental Assessment approval for a greenfield uranium project in Saskatchewan.
Rook I Project Feasibility Study
The Rook I Feasibility Study outlines an initial 11-year mine capable of producing 29 million pounds of U3O8 per annum in the first 5 years. The project's total CAPEX is $1.3 billion, with $157 million allocated for early works and $1,143 million for pre-production execution capital. The average OPEX per pound of uranium is among the lowest in the industry at $5.69 per pound. The feasibility study highlights include an optimized mine layout, advanced water recycling, and plant engineering.
Environmental and Community Commitments
The Rook I Project is designed with elite ESG commitments, focusing on environmental protection and maximizing community benefit. The project includes an industry-leading Underground Tailings Management Facility, contributing to its high return on capital with a 0.9-year payback period and life-of-mine production flexibility. NexGen has taken significant steps to ensure sustainable development, including reducing the project footprint by approximately 20%.
2024 Exploration Program
NexGen's 2024 exploration program includes a 30,000-meter exploration drill program to test priority targets on its 100% owned properties in the southwest Athabasca Basin. These efforts are aimed at expanding the company's resource base and identifying new avenues for development within the uranium-rich region.
Subsidiary Developments: IsoEnergy
NexGen's 50.1% owned subsidiary, IsoEnergy, holds a highly prospective portfolio of uranium exploration projects in the historic eastern Athabasca Basin. IsoEnergy discovered the Hurricane deposit, a zone of very high-grade uranium mineralization on the Larocque East project in 2018, further establishing NexGen's foothold in high-potential uranium regions.
Arrow Deposit Details
The Arrow Deposit is the largest development-stage uranium deposit in Canada and is 100% owned by NexGen Energy Ltd. The feasibility study for the Arrow Deposit, completed in accordance with NI 43-101, includes contributions from leading consultants such as Stantec Consulting Limited, Wood Canada Ltd., and Roscoe Postle Associates Inc. The study considers environmental and economic merits, optimizing development as an underground mining operation with conventional long hole stope mining methods.