NexGen Energy Initiates 43,000-meter Exploration Drill Program at Patterson Corridor East
VANCOUVER, BC – NexGen Energy Ltd. (“NexGen” or the “Company”), a leading exploration and development company in the mining industry, is thrilled to announce the initiation of an extensive 43,000-meter (m) exploration drill program at Patterson Corridor East (PCE), located 3.5 km east of the world-class Arrow Deposit in Saskatchewan, Canada. This new exploration campaign builds upon the significant mineralization discoveries made at PCE in early 2024.
Background
NexGen’s Arrow Deposit is a high-grade uranium discovery, with an estimated Indicated Mineral Resource of 191.7 million pounds of U3O8 and an Inferred Mineral Resource of 141.1 million pounds of U3O8 (100% basis) based on a 0.03% U3O8 cut-off grade. The Arrow Deposit has been recognized as one of the largest and highest-grade undeveloped uranium deposits in the world.
Exploration Drill Program
The new exploration drill program at Patterson Corridor East aims to further test the extents and growth potential of the mineralization discovered in early 2024. This drill program will focus on expanding the known mineralized zones and evaluating the potential for new discoveries within the broader PCE target area. The exploration drill program is expected to take approximately 12 months to complete.
Impact on Local Communities
NexGen is committed to collaborating with local communities and stakeholders in the region. The Company has established a community engagement program, which includes regular updates on project progress, employment opportunities, and community investment initiatives. The exploration drill program at Patterson Corridor East will generate economic opportunities for local businesses and create employment opportunities for residents.
Impact on the Mining Industry and the World
The mining industry will benefit from NexGen’s exploration drill program at Patterson Corridor East in several ways. First, this program could lead to the discovery of significant new uranium resources, contributing to the global supply of this essential energy resource. Second, the successful exploration of PCE could potentially lead to the development of a new major uranium deposit, increasing the competitiveness of the Saskatchewan mining industry on the global stage. Furthermore, the exploration drill program may lead to advancements in mining technology and techniques, which could be adopted by other mining companies.
Conclusion
NexGen Energy’s 43,000-meter exploration drill program at Patterson Corridor East is an exciting development in the mining industry. This extensive drill program has the potential to expand the known mineralized zones at PCE and make new discoveries, contributing to the global supply of uranium and the growth of the Saskatchewan mining industry. NexGen remains committed to collaborating with local communities and stakeholders, ensuring that the benefits of this exploration program are shared among all parties involved. The exploration drill program at Patterson Corridor East is a significant step forward in the development of this world-class uranium project.
