NexGen Energy Ltd. has announced a significant expansion of its Patterson Corridor East (PCE) discovery, extending the high‑grade subdomain’s vertical extent from 335 m to 412 m—a 23 % increase—and widening the strike length to 210 m. The overall mineralized footprint now measures 700 m vertically and 620 m in strike, underscoring the deposit’s large‑scale potential and reinforcing the company’s strategy of building a low‑cost, high‑grade uranium supply.
The company will also commence a 2026 drilling program totaling 42,000 m at PCE, the largest program ever conducted at the discovery, and an additional 3,500 m of diamond drilling at its SW3 property. This marks the first drilling activity on the SW3 land package, located 20 km southeast of the Rook I project, and signals a new high‑potential area for exploration. The 2025 drilling program at PCE had already produced 35,366.2 m, the largest in the Athabasca Basin that year, and the 2026 program builds on that momentum to further delineate the resource.
The expansion and drilling program are expected to enhance projected resource estimates, support the company’s path to production, and strengthen its portfolio of high‑grade uranium assets. NexGen’s focus on the Athabasca Basin—home to the world’s most prolific uranium deposits—positions it to capitalize on the growing demand for secure, Western uranium supply amid a structural supply deficit in the global market.
NexGen’s Rook I project, its largest development‑stage uranium project in Canada, is in the final stages of federal permitting, with a Canadian Nuclear Safety Commission Part 2 hearing scheduled for February 9‑13, 2026. The company has also secured a five‑year offtake agreement with a major U.S. utility for 1 million lb of uranium annually, doubling its contracted volumes to over 10 million lb. These developments reinforce NexGen’s market positioning and provide a stronger foundation for future offtake contracts.
As a pure exploration and development company, NexGen does not yet generate revenue, but its recent funding rounds and cash reserves support the ambitious drilling program. The company’s focus on low‑cost, high‑grade uranium aligns with investor demand for clean energy solutions and positions NexGen to play a key role in the transition to nuclear power.
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