The United States, despite its significant number of nuclear power reactors and reliance on nuclear energy, depends heavily on imported uranium, with a significant portion coming from Russia. To address this dependency, Kraken Energy Corp. (Ticker UUSA.c or UUSAF for US investors) is actively working to establish itself as a major player in the US uranium sector.
Kraken Energy Corp. oversees three promising uranium projects in Nevada: Apex, Garfield Hills, and Huber Hills. These projects have a history of productive uranium extraction, and with the application of advanced technologies, UUSA is confident in further tapping into the potential of these sites to contribute to domestic uranium supply.
In a recent interview, UUSA's CEO Matthew Schwab discussed the uranium market and shared the latest news and developments of the company, including the release of results from its inaugural drill program at the Garfield Hills Uranium Property.
These assay results not only validated the company's geological model but also showcased promising indicators for the project's potential. The drill program encompassed 1,697.2 meters across 11 holes, confirming previous drilling efforts and expanding the mineralization.
Seven of the holes encountered shallow uranium mineralization, including a 12.5-meter interval with 0.036% U3O8 and a 7.0-meter interval with 0.029% U3O8. Additionally, UUSA reported high-grade surface and soil samples, indicating uranium concentrations of up to 1.007% U3O8 along the east strike and up to 0.320% U3O8 in the western region. These findings suggest a mineralized trend spanning over 4 kilometers.
With these positive results, UUSA has plans to commence its Phase 2 drilling program at the Garfield Hills Uranium Property later this year. As discussed by the CEO in the video interview, the company is also preparing for a drill program at its Harts Point Uranium Project, with the goal of starting in the first week of July.
Watch the full interview here:
Posted on behalf of Kraken Energy Corp.