By Adriano Marchese
Shares of NexGen Energy shares were trading higher Monday after the company said it has discovered a large mineralization of uranium at its site in Saskatchewan.
Shares rose 5.5% to 7.45 Canadian dollars ($5.19).
The Canadian uranium producer said recent drilling at its recent drilling has intersected a rich uranium concentration at its property in the Patterson Corridor that hosts Arrow, the largest development-stage uranium deposit in Canada.
Chief Executive Leigh Curyer said the preliminary findings are geologically exceptional and represents a transformational moment for the company.
"Discovering mineralization of this intensity so early in our 2025 program outpaces the success pattern experienced at the Arrow Deposit," Curyer said.
NexGen said it will focus on growing and defining the high-grade zone.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 24, 2025 11:47 ET (15:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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