NexGen expands Sask program after high-grade uranium results

NexGen Energy is expanding its uranium exploration program in Saskatchewan after discovering high-grade mineralization at Patterson Corridor East (PCE). The company will add a fifth drill rig to the program following new results from hole RK-26-293, which returned over 10,000 counts per second (CPS) for 4.7 meters, including a 0.1-meter section with more than 61,000 CPS.

Other promising holes include RK-26-290c1 with 19.5 meters of over 10,000 CPS and RK-26-294 with 6.9 meters of over 10,000 CPS, including 3.1 meters above 61,000 CPS. Jason Craven, NexGen's vice-president of exploration, noted that the high-grade subdomain is growing faster than expectations and still has mineralization open in multiple directions.

As of Wednesday morning, NexGen's shares rose 33 cents before settling back to its previous close. The company has completed 20,138.7 meters of its 42,000-meter program at PCE, and is expecting results from submitted samples soon. Additionally, NexGen is progressing with construction of its Rook I project near PCE. CEO Leigh Curyer emphasized the company's commitment to expanding its role as a global leader in uranium production.