Highlights

  • RK-25-239 returns 13.0 metres at 5.2% U3O8, including 0.5 metres at 30.2% U3O8, confirming expansion of the primary high-grade subdomain at Patterson Corridor East.
  • A new secondary high-grade subdomain confirmed at 850 metres depth, with RK-25-257 returning 4.5 metres at 4.8% U3O8 including 0.5 metres at 33.3% U3O8.
  • NXG shares are up approximately 85.93% over the past 12 months, trading at A$17.05 on 8 May 2026, reflecting sustained investor interest in uranium exploration.

 

NexGen Energy Ltd (ASX:NXG) shares fell A$0.61, or 3.45%, to A$17.05 during morning trading on 8 May 2026. The intraday pullback follows an extraordinary 12-month run that has seen NXG shares climb approximately 85.93%, making it one of the strongest performers on the ASX over the period. The decline on the day likely reflects profit-taking or broader risk-off sentiment rather than any fundamental deterioration in the company's exploration story.

NexGen's dramatic re-rating over the past year has been underpinned by a sequence of high-grade drill results from the Patterson Corridor East discovery, growing institutional recognition of uranium's role in the global clean energy transition, and continued progress on the Rook I Feasibility Study. The final 2025 assay batch, released on 8 May 2026, adds further substance to what is shaping up as one of the most significant uranium discoveries in the Athabasca Basin in recent years.

Patterson Corridor East: A Discovery Growing in Scale and Grade

The Patterson Corridor East (PCE) discovery is located 3.5 kilometres from NexGen's flagship Arrow Deposit within the Rook I Project in northern Saskatchewan, Canada. NexGen holds 100% ownership of the Rook I Project, which is underpinned by a National Instrument 43-101 compliant Feasibility Study outlining leading environmental performance and strong project Economics.

The final batch of 2025 assay results, delivers multiple high-grade intercepts that confirm both the expansion and continuity of the primary high-grade subdomain and the emergence of a new secondary high-grade subdomain at depth. Together, these results materially strengthen the case that PCE has the potential to develop into a globally significant uranium deposit in its own right, separate from the Arrow resource.

Key Drill Intercepts: Expansion Confirmed Across 292 Metres of Dip Extent

The headline result is RK-25-239, which returned 13.0 metres at 5.2% U3O8, including a peak 0.5 metres at 30.2% U3O8, at approximately 400 metres below surface. This hole confirms the up-dip expansion of the growing high-grade subdomain, sitting 33 metres up dip from the previously reported RK-25-232 (15.0 metres at 15.9% U3O8). The geological consistency between the two holes reinforces the structural continuity of the mineralising system.

Equally significant is RK-25-240, which returned 10.0 metres at 3.95% U3O8, including 0.5 metres at 33.3% U3O8, at approximately 670 metres below surface, 266 metres below RK-25-232. This result demonstrates that the high-grade subdomain continues to depth and that the system remains open for further discovery in the down-dip direction. The shared geological characteristics between RK-25-239 and RK-25-240 across 292 metres of mineralised dip extent provide a compelling case for the scale and consistency of the mineralising environment.

Additional continuity confirmation came from three further holes: RK-25-230 (7.5 metres at 5.3% U3O8 including 0.5 metres at 35.9% U3O8), RK-25-233 (6.0 metres at 2.4% U3O8 including 0.5 metres at 23.4% U3O8), and RK-25-236 (5.5 metres at 2.3% U3O8 including 0.5 metres at 13.3% U3O8). These holes, located 47, 151, and 40 metres respectively from RK-25-232, confirm a strong core zone within the high-grade subdomain that remains open in most directions.

New Deep Subdomain: A Significant Growth Catalyst

Perhaps the most strategically important element of the final 2025 assay release is the confirmation of a new secondary high-grade subdomain at 850 metres below surface. Hole RK-25-257 returned 4.5 metres at 4.8% U3O8, including 0.5 metres at 33.3% U3O8, located 67 metres up dip of RK-24-202, which had previously returned 0.5 metres at 6.9% U3O8. The new subdomain is open in most directions and is characterised by NexGen as having high prospectivity for continued growth.

The confirmation of a second high-grade subdomain within the broader PCE mineralised footprint introduces a new dimension to the discovery. Historically, Athabasca Basin uranium deposits have demonstrated the capacity to host multiple stacked or laterally offset mineralised zones, and the emergence of a deep subdomain at PCE suggests that the total mineralised system may be considerably larger than the initial discovery footprint implies.

2026 Drilling Campaign: Momentum Continues

NexGen's 2026 exploration drilling program at PCE is already underway, with 29,241.8 metres of the planned 42,000-metre campaign completed. The majority of the remaining drilling is scheduled to recommence in the week of 25 May 2026. All samples from 2026 drilling to date have been submitted to the independent Saskatchewan Research Council Geoanalytical Laboratory, with assay results expected to follow over the coming months.

The scale of the 2026 program, covering 42,000 metres in total, reflects NexGen's confidence in the discovery and its intent to systematically test both the expansion of known high-grade zones and identify new areas of mineralisation within the broader PCE footprint. The pace of discovery and the consistency of high grades across multiple holes suggest the 2026 results season could be another significant catalyst for the stock.

Conclusion

NexGen Energy's final 2025 assays represent a meaningful advance in the PCE story. The confirmation of high-grade subdomain expansion over nearly 300 metres of dip extent, combined with the identification of a new deep subdomain, adds material resource growth potential to one of the most closely watched uranium exploration projects in Canada. The approximately 86% share price gain over the past year is a market expression of confidence in both the discovery and the broader uranium Supply narrative. With 2026 drilling already generating fresh samples and results expected in coming months, NexGen remains a closely followed name for investors tracking the uranium sector.