NexGen Energy (ASX:NXG) has begun a 43,000m drilling program at the Patterson Corridor East in the Athabasca Basin, Canada.
The program, which is expected to be among the largest in the Athabasca Basin, will continue to test the extents and growth of mineralisation discovered in early 2024 at Patterson Corridor East.
In 2024, initial results at Patterson revealed vein-type uranium mineralisation intersected within the competent basement rock, which is highly analogous to the Arrow deposit that sits within the company’s Rook I Project.
NexGen, which has a market capitalisation of $5.86 billion, notes that drilling will also focus on further investigating high-grade zones within the broad mineralised footprint and determining potential for additional mineralisation within the same target area.
CEO Leigh Curyer says this area is a central focus of the company’s exploration efforts given the potential shown to date at Patterson Corridor East.
“This is a strategic focus to contribute sustainable supply to the growing demand for uranium to fuel the global energy needs,” Curyer says.
Vice President of Exploration Jason Craven adds that the scale of this year’s program speaks to the company’s excitement and a commitment to efficiently and thoroughly assess it.
“Continuity of mineralisation, as well as intensity of high-grade mineralisation and alteration, indicate a system with strong potential for continued growth,” Craven says.
“These are compelling early days at Patterson Corridor East where we will remain solely focused on unlocking its potential.”
NexGen Energy is a Canadian company which holds over 190,000 hectares of land in Saskatchewan’s southwest Athabasca Basin. The company’s project portfolio is considered prospective for uranium.
Write to Aaliyah Rogan at Mining.com.au
Images: NexGen Energy
