Good Outlook in the Market + Drill Intent Approved $NCLR.C just received approval for the permits to conduct drilling activity in their Wray Mesa project in Utah. The 6,282-acre property is contiguous to and adjoining Energy Fuel's fully-permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines. La Sal is also host to 4.1 Mlb of uranium plus 21.5 Mlb of vanadium plus Inferred resources of 0.4 Mlb of uranium and 1.9 Mlb of vanadium.
With the energy crisis impacting many countries across the globe, many countries have begun to look into using nuclear energy as a clean, effective, and cost-efficient way to combat the energy shortage. $NCLR’s Wray Mesa project is an especially promising project for various reasons.
- Good infrastructure on the property, and is easily accessible through highway 46 and logging roads.
- Work by previous operators discovered multiple areas of uranium-vanadium mineralization in the same geologic formation that accounted for the majority of production in the district.
- Extensive historical drill data with most mineralization on the property occurring at depths of 500 to 750 feet, with the drill-defined mineralization ranging from 25 to 75 feet in thickness.
https://ca.finance.yahoo.com/news/basin-uranium-receives-approval-notice-070500698.html
Overall, with the uranium market expected to grow due to energy supply concerns, $NCLR.C is well-positioned to take advantage of the growth with its exploration properties. Definitely keep an eye out considering the extremely undervalued $4M market cap.