NexGen Energy (TSX: NXE) has intersected additional high grade mineralization at their Patterson Corridor East discovery in Saskatchewan’s Athabasca Basin. The company this morning released assay results from additional drill holes conducted under a recent exploration program.
“Today’s assay results from PCE represent further validation of this new discovery. The PCE discovery and drilling program is the same bold, wide spaced, safe and cost effective approach that defined the world class Arrow deposit and is delivering results of the same calibre. It’s so exciting to be in the midst of another significant discovery,” commented Leigh Curyer, CEO of NexGen Energy.
Highlights from the results include:
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- RK-25-254: 11.3% U3O8 over 10.5 metres from a depth of 449 metres
- Including 29.4% U3O8 over 4.0 metres
- Including 56.2% U3O8 over 0.5 metres
- RK-25-241: 1.27% U3O8 over 8.5 metres from a depth of 448.5 metres
- Including 5.79% U3O8 over 1.5 metres
- Including 10.2% U3O8 over 0.5 metres
- RK-25-244: 7.6% U3O8 over 17.0 metres from a depth of 462 metres
- Including 21.1% U3O8 over 6.0 metres
- Including 58.1% U3O8 over 0.5 metres
Hole RK-25-254 is said to have intersected mineralization 55 metres up dip from hole RK-25-232 (15.9% U3O8 over 15.0 metres), while hole RK-25-244 intersected mineralization 19 metres down dip. Continuity from the high grade subdomain has now been intersected across 330 metres in vertical extent. A secondary high grade subdomain has also been interpreted following drill hole RJ-25-234, which hit 8.3% U3O8 over 0.5 metres in a potential new high grade shoot.
The overall mineralized footprint of the PCE discovery has now been defined along 600 metres of strike and 600 metres of vertical extent, while a high grade subdomain has been identified along 210 metres of strike and 335 metres in vertical extent. The discovery is said to be characteristic of of the southwest Athabasca Basin, while the setting has an identical technical advantage as the nearby Arrow deposit, which is found 3.5 kilometres to the west.
“NexGen has executed with a systematic and impactful approach to advance PCE since discovery in February 2024. Importantly, not only are we seeing world-class uranium grades over significant widths, but also the continuity of that mineralization is incredibly strong. The repeatability of consistent high-grade results at PCE, with so much untested area remaining highlights the significant potential for continued expansion,” commented Jason Craven, VP of Exploration.
NexGen Energy last traded at $12.15 on the TSX.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
