Mobilization for the next program is expected to begin in the first week of July.
Nexus Uranium Corp. announced the start of field work at the Cree East uranium project in the Athabasca Basin of Saskatchewan, Canada.
Nexus has the right to earn up to a 75% interest in the project from CanAlaska Uranium Ltd.
Mobilization for the next program is anticipated to commence in the first week of July with the initial focus on re-logging and collecting historical drilling data in preparation for the next drilling program, pending receipt of final permits.
“We are excited to get on site and begin initial field work in preparation for the start of our drilling program,” said Jeremy Poirier, CEO of Nexus Uranium.
Poirier added that while this project has had an investment of more than $20 million in previous exploration, it has been more than twelve years since the last significant exploration program was concluded in 2012, following the Fukushima nuclear accident that reduced the uranium exploration worldwide.
“The field work we are undertaking, along with the comprehensive review and data collection provided by Condor Consulting, demonstrates our measured approach to exploration in this highly prospective land position,” he said.
About Nexus Uranium Corp.
Nexus Uranium Corp. is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin and the Wray Mesa uranium-vanadium project in Utah, in addition to its precious metals portfolio which includes the development-stage Independence Mine located adjacent to Nevada Gold Mine’s Phoenix-Fortitude Mine in Nevada, the Napoleon gold project in British Columbia and a package of gold claims in the Yukon.
The Cree East project is one of the largest projects within Saskatchewan’s Athabasca Basin, spanning 57,752 hectares (142,708 acres) and has seen more than $20 million in exploration to date. The Wray Mesa project covers 6,282 acres within the heart of Utah’s prolific Uruvan mining district and has extensive historic drilling of more than 500 holes defining multiple mineralized zones.
The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28 million tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9 million tonnes at 3.22 g/t gold). t of gold) gold with a substantial silver credit. A 2022 preliminary economic assessment (PEA) outlined a low-cost heap leach operation focused on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.). ) per ounce of gold.
The Napoleon project comprises over 1,000 hectares and is prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects comprise nearly 8,000 hectares of quartz concessions with potential for high-grade gold mineralization, with historic grab sampling results of 144 g/t gold.
