The Rook I project includes a new underground mine and mill in the southwestern part of the Athabasca Basin. The project received the environmental nod from the province in November, making Rook I the first approved greenfield uranium development in 20 years. NexGen has begun detailed work on the front-end engineering and design (FEED) for the mine and mill.
The deposit has measured and indicated resources of 3.8 million tonnes grading 3.10% uranium oxide (U3O8), containing 256.7 million lb. of U3O8, enough for a mine life of 11 years. The feasibility study gives production as 29 million lb. U3O8 per year for the first five years. The total capital requirement will be C$1.3 billion for both early works and pre-production expenditures.
NexGen anticipates the next steps in the Rook I approval process will be the receipt of provincial construction approval, a Canadian Nuclear Safety commission hearing, and finally, receipt of the…
