NexGen Energy Ltd. (TSE: NXE) (NYSE: NXE) (ASX: NXG) has expanded high grade uranium mineralization at its Patterson Corridor East (PCE) discovery in Saskatchewan.
Announced on Tuesday, the early results from the company’s 2026 summer drilling extended the high grade zone both upward and downward within the deposit. Additionally, the results showed strong continuity between several areas containing intense uranium mineralization.
Hole RK-26-293 extended high grade uranium mineralization to a depth of 930 metres. The hole encountered a combined 4.7 metres registering more than 10,000 counts per second, or cps.
That included 0.1 metres measuring above 61,000 cps, the upper detection limit for the equipment used during drilling. Consequently, the hole increased the zone’s vertical extent by 94 metres, or 17 per cent, to 644 metres.
NexGen said broad hydrothermal alteration accompanied the mineralization and could indicate more uranium nearby and at greater depth. However, the known strike length remains 210 metres because recent drilling primarily tested the company’s interpretation of deeper geology.
Geologists use strike length to describe how far a mineralized body extends horizontally along its main geological direction. Meanwhile, vertical extent measures how far the mineralization reaches from its uppermost known point to its lowest.
Another hole, RK-26-290c1, tested the deposit down plunge while crossing the previously known mineralized footprint. The company designed the hole to improve its understanding of the shape and continuity of PCE’s high grade zones.
It encountered multiple stacked uranium veins across 40 metres of the high grade area. Additionally, those intersections included a combined 19.5 metres above 10,000 cps.
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High grade area continues growing beyond company expectations
The drilling also helped NexGen identify repeating structural disruptions that appear to control where uranium mineralization occurs. Furthermore, that information will help geologists refine the geological model and choose targets for later holes.
Hole RK-26-294 provided further evidence that intense mineralization continues between previously drilled areas. It returned a combined 6.9 metres above 10,000 cps, including 3.1 metres exceeding 61,000 cps.
The hole sits 27 metres along strike from RK-24-222, which previously returned 17 metres grading 3.85 per cent uranium oxide. Together, RK-26-290c1 and RK-26-294 rank as the company’s two strongest PCE holes drilled during 2026.
NexGen also tested the shallower portion of the discovery with hole RK-26-296. That hole returned a combined 3.5 metres above 10,000 cps, including 0.4 metres above 61,000 cps.
In addition, RK-26-296 extended the shallowest part of PCE by 50 metres along strike. The company said most high grade mineralization at PCE sits about 70 metres shallower than the A2 High Grade Zone.
Vice president of exploration Jason Craven said the high grade area continues growing beyond the company’s expectations. He said RK-26-290c1 and RK-26-294 strengthened NexGen’s interpretation that intense high grade intersections connect across the discovery.
Additionally, Craven described the 94-metre expansion from RK-26-293 as an opportunity for further high impact growth. Chief executive officer Leigh Curyer said NexGen will add a fifth drill rig for the remainder of the 2026 program.
NexGen restarted drilling at PCE on May 28 and has completed 20,138.7 metres during 2026. The company plans to drill 42,000 metres this year, primarily targeting growth and expansion of high grade mineralization.
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