NexGen Energy Ltd. disclosed new assay data from its Patterson Corridor East (PCE) discovery on November 12, 2025, confirming a high‑grade uranium subdomain that extends roughly 330 m vertically. The results demonstrate a robust continuity of mineralization that could broaden the high‑grade footprint and strengthen the company’s resource case for the Rook I project.
The company reported a range of grades from several drillholes. RK‑25‑231 and RK‑25‑241 yielded 8.0 m at 1.4 % U₃O₈ and 8.5 m at 1.3 % U₃O₈, respectively, while a 0.5 m shoot at 8.3 % U₃O₈ was also recorded. In addition, RK‑25‑254 produced 10.5 m at 11.3 % U₃O₈, including a 4.0 m interval at 29.4 % and a 0.5 m interval at 56.2 %. RK‑25‑232 delivered 15.0 m at 15.9 % U₃O₈, with a 3.0 m interval at 47.8 %, a 1.5 m interval at 29.4 % and a 0.5 m interval at 68.8 %. These higher‑grade results, announced on the same day, underscore the exceptional potential of the PCE discovery and provide a more complete picture of the mineralization.
The company has indicated that the PCE discovery could contribute to the 10 million‑pound contracted volumes it is targeting for the Rook I mine. While the exact definition of that target is not publicly detailed, the Feasibility Study for Rook I projects an average annual production of 28.8 million pounds of U₃O₈ over the first five years, suggesting that the PCE results could play a significant role in meeting or exceeding the company’s production goals.
NexGen’s financial position remains a key backdrop to the announcement. The company reported a net loss of CAD 129.22 million for the third quarter of 2025, reflecting the high capital intensity of the Rook I development. In October 2025, NexGen raised approximately CAD 950 million through a global equity offering, extending its cash runway and supporting continued drilling and resource expansion in the Athabasca Basin.
Regulatory progress is also advancing. The Canadian Nuclear Safety Commission has scheduled hearing dates for November 19, 2025, and February 9‑13, 2026, after which a decision on final approvals will be rendered. NexGen has addressed all information requests for the Federal Environmental Assessment as of November 18, 2024, positioning the company to move forward with construction once approvals are secured.
Investor reaction to the announcement was mixed. While the high‑grade grades from RK‑25‑254 and RK‑25‑232 were viewed positively, the lower grades reported in the initial drillholes were seen as less impressive relative to the company’s own earlier results. This contrast tempered enthusiasm, leading to a cautious market response despite the overall positive outlook for the PCE discovery.
CEO Leigh Curyer emphasized that the new data “represent further validation of this new discovery” and highlighted the strong continuity and repeatability of high‑grade results at PCE. He noted that the intensity of mineralization encountered at PCE was similar to that at Arrow, but was discovered later in the resource definition phase, underscoring the company’s disciplined exploration approach and its potential to secure a robust supply base for the global nuclear market.
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