NexGen (NXE) Uranium Exploration Sparks Share Price 6% Boost

We recently published 10 Stocks Skyrocket While Wall Street Sinks; 5 Quietly Hit New Record Highs. NexGen Energy Ltd. (NYSE:NXE) is one of the top performers on Friday.

NexGen Energy rallied for a second day on Friday, adding 5.91 percent to close at $7.88 apiece as investors gobbled up shares following positive results from its ongoing drilling program at the Patterson Corridor East (PCE) discovery area.

In a statement on Thursday, NexGen Energy Ltd. (NYSE:NXE) said it found “exciting results” from the summer drill program at the exploration zone, where two drill holes discovered high-grade levels of uranium.

Additionally, the depth of the intense high-grade uranium was discovered at a shallow zone, found 454.4 meters, ranking among the shallowest depths of massive uranium ever drilled by NexGen Energy Ltd. (NYSE:NXE). This means that the deposit could be easier and cheaper to mine.

Since the start of the year, NexGen Energy Ltd. (NYSE:NXE) has successfully drilled more than half of its 43,000-meter program. So far, the company has drilled 79 drill holes, 48 of which have found uranium deposits.

“This program is delivering exactly what we look for in a generational uranium discovery, basement-hosted significant mineralized system, continuity of high-grade mineralization, and growth potential. PCE is evolving in real time into a world-class system in its own right,” said CEO Leigh Curyer.

“NexGen’s highly prospective land package continues to demonstrate exciting results and unmatched opportunity for Canada to take its place as the number one source of uranium in the world,” he underscored.

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