Eagle Nuclear Launches 47-Hole, 27,000-Foot Drill Program on 32.75M-Pound Deposit
Eagle Nuclear Energy launched a 47-hole, 27,000-foot drill program at its Aurora Project in southeastern Oregon starting July 2026, aiming for a Pre-Feasibility Study by late 2027 on a deposit with 32.75 million pounds Indicated U3O8. The company holds $31.3 million cash, zero debt, and plans domestic SMR integration.
1. Drill Program and Timeline
Eagle Nuclear Energy has confirmed a 47-hole, 27,000-foot diamond drill program at the Aurora Project set to commence in July 2026. The campaign is designed to fill key data gaps and support a Pre-Feasibility Study targeted for the second half of 2027.
2. Resource Size and Valuation
The Aurora deposit contains 32.75 million pounds Indicated and 4.98 million pounds Inferred U3O8 near surface in southeastern Oregon. At long-term contract pricing around $93 per pound, the Indicated resource alone represents in-ground value in the low-billions, with adjacent Cordex acreage offering upside.
3. Permitting, Partnerships and Finance
Eagle has filed permit applications with the Bureau of Land Management and Oregon’s Department of Geology and Mineral Industries and engaged Harris Exploration Drilling & Associates for rig services. SLR International will lead permitting, while BBA USA completed the technical gap analysis. The company reported $31.3 million cash and zero debt as of February 28, 2026.
4. Integrated SMR Strategy
Beyond mining, Eagle Nuclear is positioning as an integrated nuclear energy platform by combining its uranium supply with exclusive SMR technology. This vertical model aligns with U.S. supply-chain security goals and addresses growing AI data center power demand that could accelerate uranium consumption.