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- Vertical extent of high-grade subdomain increased by 33%.
- Continuity of intense mineralisation identified.
- Progressive high-grade uranium continuity at depth.
- Winter program successfully completed.
NexGen Energy (ASX:NXG) has identified significant vertical growth and strong internal continuity of high-grade uranium mineralisation in its northern winter program at Patterson Corridor East in Canada’s rich Athabasca Basin.
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The now complete program successfully expanded the mineralised high-grade subdomain by 33% to 550m in vertical extent, with a strike of 210 metres.
NextGen’s CEO, Leigh Curyer, said the results from the program have confirmed both the scale and growth of PCE as the project advances at pace.
“Increasing the vertical extent of the high-grade subdomain by 33% during the winter program suggests substantial drilling is required going forward to fully understand the extent of this mineralised zone,” he said.
“In parallel, drilling focused on vectoring into additional zones of mineralisation will be incorporated into the summer program based on these winter results.”
The company has a busy period ahead, with the Rook I project commencing construction this northern summer and the significance of PCE materialising rapidly.
“We look forward to future drilling and evaluation of PCE and its position in the long-term profile of NexGen’s uranium portfolio,” Mr Curyer said.
“NexGen is positioned to meet the strong demand for Canadian uranium for many decades into the future, whilst setting an industry standard in the safe, efficient, and reliable delivery of offtake to utility customers around the world.”
The latest PCE expansion was largely driven by hole RK-26-280c1, which returned a cumulative 4.2 metres of 10,000 counts per second (cps), including 0.6 metres of around 61,000 cps at 834m below surface. The hole successfully intersected mineralisation 230m down plunge along a high-grade shoot.
Holes RK-26-271c1, RK-26-276, and RK-26-285 also returned strong intercepts between 600 and 700m below surface, where the system remains open for expansion.
Results from RK-26-271c1 include cumulative 12.6m of around 10,000 cps, including 2.3m of 61,000 cps 80m down plunge of RK-25-256 (5.5m at 21.4% U3O8), indicating continuity of intense high-grade mineralisation.
All samples from CY26 drilling are being submitted to the independent Saskatchewan Research Council Geoanalytical Laboratory; results to follow.
A northern summer drilling program of around 29,200 metres is also now scheduled to commence the week of May 25.
NXG will open at $17.14. Mkt cap $11.33B.
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