Since the acquisition by NexGen of the SW1 property (the “Property”) in 2012, NexGen has systematically developed it through testing with numerous studies and geophysical surveys.

The resulting geophysical signature on the Property, particularly the Gartner Corridor (“GC”), displays strong similarities to the Patterson Corridor (Figure 1) that hosts Arrow, the largest development-stage uranium deposit in Canada. Those similar characteristics include a strong conductive signature with numerous offsets coincident with discrete gravity lows and steep magnetic gradients (Figure 2). Analysis of historic drilling has also revealed prospective structure and alteration that coincides with highly favourable geophysical properties for potential uranium mineralization.

NexGen conducted its maiden drill program on the property in 2019 and resumed drill testing on high priority targets in 2023.

Figure 1: SW1 and SW2 properties with similar geophysical signatures

Geophysical History

The Property is situated on the western limb of a regional fold with the Patterson Corridor and Arrow Deposit situated on the eastern limb (Figure 1). Historical drill core from the Property indicates the area contains similar host rocks as the Arrow Deposit. Given this geological affiliation, NexGen commissioned the same airborne geophysical techniques that led to the discovery of the Arrow Deposit in February 2014. A VTEM survey defined several discrete and disjointed conductive corridors on the Property, similar to what was seen at Arrow. Follow-up ZTEM surveys were conducted in conjunction with HeliFalcon gravity gradiometry surveys over the entire Property. These surveys defined additional corridors and numerous gravity anomalies, several of which are coincident with the dislocation of the conductors similar to the Arrow Deposit. The development of the Property has led to high confidence targets that are prime for focused exploration through drilling.

SW1 Property with Identified Target Areas
Figure 2: SW1 Property with Identified Target Areas