NexGen Energy delivers best-ever drill result at Patterson Corridor East uranium project in Canada
NexGen Energy (ASX: NXG) has further expanded the Patterson Corridor East (PCE) uranium project in Canada’s Athabasca Basin with its best drill hole result to date.
The company says the hole highlights the potential for rich uranium concentration in the area after it intersected 3.9m of approximately 61,000 counts per second (cps) within a larger 13.8m mineralised interval that began at 452.2m.
It is also one of the shallowest high-grade intersections drilled at the PCE, with mineralisation at the hole open in all directions within the competent basement.
Further successful holes
NexGen has also encountered high-grade intercepts in a further four winter drill holes.
The intercepts have doubled the size of the known mineralisation, with the holes located within 50m of the highlight hole.
The company has assessed these other intercepts at a grade of approximately 61,000 cps.
‘Geologically exceptional’
Chief executive officer Leigh Curyer said the company would focus its ongoing exploration on growing and defining the high-grade zone around hole RK-25-232.
“This intercept from RK-25-232 is geologically exceptional and represents a transformational moment, taking PCE into a category to rival Arrow at the same stage of drilling,” Mr Curyer said.
“To put this into context, the width of high-grade intense mineralisation in RK-25-232 at PCE was first encountered at Arrow well into the delineation phase of resource definition.”
Canadian energy development
Mr Curyer said the drilling success comes at a time when Canada is looking to optimise the development of its energy fuel resources.
“NexGen, Saskatchewan and our community partners are ready to immediately commence construction of the Rook I Project, subject to the completion of the Canadian Nuclear Safety Commission approval process.”
The comapny said PCE had developed quickly over the past year from the initial discovery in February 2024 to a rapidly growing mineralised footprint and expanding high-grade zone to this best-ever high-grade intersection.