NexGen reports ‘high-calibre’ uranium results from drilling at PCE target in Saskatchewan

Drilling by NexGen Energy (TSX, NYSE: NXE; ASX: NXG) has returned results as high as 0.5 metre grading 68.8% uranium oxide (U₃O₈) at its Patterson Corridor East (PCE) target in northwestern Saskatchewan.

That result, in hole RK-25-232, was part of a 15-metre intercept at 15.9% U₃O₈ from 552.4 metres depth, including 3 metres grading 47.8% U₃O₈ and 1.5 metres at 29.4%, NexGen reported Tuesday. PCE is about 3.5 km east of NexGen’s main Arrow deposit in the Athabasca basin, about 750 km north of Saskatoon.

“RK-25-232 is an exceptionally high-calibre intersection considering the program is very early in the evaluation of PCE,” NexGen CEO Leigh Curyer said in a release. “Identical to Arrow, mineralization at PCE is wholly hosted in competent basement rock and exhibits all the same characteristics of an intense high-grade mineralized system.”