NexGen Energy (TSX: NXE) has begun an extensive exploration campaign within the Athabasca Basin. The program is centered on a new discovery made last year at Patterson Corridor East, which is 3.5 kilometers to the east of the Arrow deposit.
The exploration program is set to consist of 43,000 metres of drilling, with drilling to focus on testing the extents of the new discovery. Subsequent drilling at the discovery has outlined a mineralized footprint measuring 600 metres along strike with 600 metres of vertical extent, with at least five drill holes having returned off scale (>61,000 cps) mineralization at the discovery.
To date, 19 of the 30 holes conducted in the 2024 campaign intersected mineralization. Ten of those holes intersected intermittent widths of high grade mineralization in excess of 10,000 cps. Fully assay results are expected to be reported in Q1 2025 once received.
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Geophysics are also set to be employed as part of the exploration program, which will cover prospective areas to refine NexGen’s inventory of drill ready targets across its land claims.
“The scale of this year’s drill program speaks to our excitement for PCE and a commitment to efficiently and thoroughly assess it. Continuity of mineralization, as well as intensity of high-grade mineralization and alteration, indicate a system with strong potential for continued growth. These are compelling early days at PCE where we will remain solely focused on unlocking its full potential,” commented Jason Craven, VP of Exploration for NexGen.
NexGen Energy last traded at $9.70 on the TSX.
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