NexGen Energy Launches Major 43,000 Meter Drill Program to Expand Uranium Resources
NexGen Energy Ltd., a prominent player in the uranium sector, is set to embark on an extensive 43,000 meter (m) exploration drilling campaign at its Patterson Corridor East (PCE) site. This undertaking aims to determine the extent and growth of the mineralization that was first identified in early 2024. Located a mere 3.5 kilometers east of the renowned Arrow Deposit, the PCE is positioned to be one of the largest drilling programs in the Athabasca Basin in Saskatchewan for 2025, reflecting a 9,000 m increase over the previous year's initiatives.
The initial drilling results from 2024 unveiled vein-type uranium mineralization within the competent basement rock, similar to that found at the Arrow Deposit. Since this discovery, the mineralized footprint at PCE has rapidly expanded to 600 m along strike and 600 m vertically (as reported in the press release from November 12, 2024).
Exploration Goals and Strategy
This year’s drilling will concentrate on further assessing the mineralized areas, discovering high-grade zones, and evaluating the potential for additional mineralization within this promising target region. Interestingly, during the 2024 campaign, 19 out of 30 initial drill holes intersected mineralization, with 10 of these holes encountering significant widths of high-grade material over 10,000 counts per second (cps). Moreover, the application of geophysical methods will strategically cover prospective regions in southwest areas to refine a growing list of drill-ready targets. Updates regarding assay results from the 2024 drilling programs will be disclosed in the first quarter of 2025.
Leigh Curyer, the CEO of NexGen, highlighted the company’s commitment to sustainability and innovation in pursuing new uranium resources. Curyer stated, “In early 2024, we launched a bold grassroots exploration initiative aimed to discover new uranium resources to address the growing demand and supply gap. Our systematic approach led to the successful identification and growth of mineralization at PCE, underlining the area’s strategic importance in our exploration agenda.”
Strategic Focus on Sustainable Supply
The exploration effort at PCE reflects NexGen's long-term strategy to establish a continuous supply of uranium to meet the surging global energy needs. Jason Craven, Vice President of Exploration, emphasized the significant scale of this year’s drilling campaign, indicating a robust commitment to thoroughly exploring the potential of PCE. He noted that the continuity of mineralization and the intensity of high-grade occurrences demonstrate the area's strong potential for future growth.
With a healthy financial position, boasting over $800 million in cash and liquid assets, NexGen is well-positioned to advance the Rook I Project while supporting the exploration efforts at PCE and managing corporate objectives effectively.
About NexGen Energy
NexGen Energy, headquartered in Vancouver, British Columbia, is dedicated to providing clean energy solutions for the future. Its flagship Rook I Project is being developed into one of the largest low-cost uranium mining operations worldwide, adhering to top-tier environmental standards. The project is underpinned by an N.I. 43-101 compliant feasibility study, which accentuates both environmental performance and exceptional economic viability. NexGen’s experienced team encompasses various key areas across the mining lifecycle, from exploration to project engineering, thereby enabling the execution of a mine plan that adheres to the highest social, technical, and environmental standards.
The company remains steadfast in its vision of creating long-term benefits—economic, environmental, and social—for Saskatchewan, Canada, and the wider world as it tackles three critical global challenges: decarbonization, energy security, and access to power. NexGen trades on major financial exchanges, including the TSX, NYSE, and ASX, making it accessible to a broad range of global investors.
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Technical Disclosure: All technical information has been approved by Jason Craven, NexGen's Vice President of Exploration, a qualified person as per National Instrument 43-101.