Eagle Nuclear Energy Launches 47-Hole, 27,000-Foot Drill Program to Advance 32.75M-lb Aurora PFS
Eagle Nuclear Energy has scheduled a 47-hole, 27,000-foot drill program at its Aurora uranium deposit to support a Pre-Feasibility Study targeted for H2 2027 and filed federal and state permit applications. The project hosts 32.75 million pounds Indicated U3O8, and Eagle reported $31.3 million cash and zero debt.
1. Drill Program Details
Eagle Nuclear Energy has contracted Harris Exploration Drilling & Associates Inc. to execute a 47-hole, 27,000-foot diamond drill campaign at the Aurora deposit beginning in July 2026. BBA USA optimized hole locations to fill critical data gaps required for a Pre-Feasibility Study (PFS), with permitting filings submitted to the Bureau of Land Management and Oregon’s Department of Geology and Mineral Industries.
2. Resource and Financial Position
The Aurora Project contains 32.75 million pounds of Indicated U3O8 and 4.98 million pounds Inferred U3O8 near surface in southeastern Oregon. As of February 28, 2026, Eagle held $31.3 million in cash with zero debt, providing a strong financial base for the upcoming drill program.
3. Development Timeline and Permitting
The drill program is designed to advance Aurora toward a PFS targeted for the second half of 2027. Eagle has retained SLR International Corporation for broader permitting and will leverage the technical Gap Analysis from BBA USA to ensure the PFS model meets SK-1300 standards.
4. Integrated SMR Strategy
Eagle’s long-term vision combines domestic uranium supply with advanced Small Modular Reactor (SMR) technology to build an integrated nuclear energy platform. This vertical integration aims to capture value across the fuel and reactor segments and align with U.S. supply-chain security and escalating power demand from AI data-centers.