The uranium sector, driven by the increasing global demand for clean and reliable energy sources, has witnessed a resurgence in recent years. As nations strive to transition towards sustainable power generation, the importance of uranium as a key component in nuclear energy production cannot be overstated. Against this backdrop, Kraken Energy Corp. (CSE: UUSA; OTCQB: UUSAF) emerges as a promising player in the industry, poised to capitalize on the abundant opportunities presented by the USA's rich uranium resources.
Yesterday, UUSA announced that it has received permits to conduct drilling activities at its Harts Point Uranium Property in southeast Utah. The permits allow for up to 20 drill pads to assess the extent of uranium mineralization across the property.
Kraken has engaged Major Drilling Group International Inc. for the upcoming drill program, set to commence in early July.
The initial phase of drilling will involve twinning three historical holes that displayed off-scale radioactivity over a 5-kilometer stretch.
The Harts Point Property, situated in a prolific uranium district, presents significant exploration potential for discovering high-grade uranium deposits. With ample funding and a well-defined exploration budget, Kraken is poised to uncover untapped opportunities at Harts Point.
Notable highlights of the property include its location in a world-class uranium jurisdiction, its coverage of 324 lode mining claims, and its resemblance to the Lisbon Valley Anticline, which historically hosted 17 large uranium mines. The property also boasts a history of uranium production and shows promising signs of radioactivity within the favorable Chinle Formation host rock, as demonstrated by three historic oil and gas wells on the site and in close proximity to the only operating uranium mill in the USA.
For more info on Harts Point and UUSA click: https://krakenenergycorp.com/news/2023/kraken-energy-receives-drilling-permit-for-20-drill-pad-locations-for-phase-i-drill-program-at-harts-point/ Posted on behalf of Kraken Energy Corp.