Uranium prices have risen to $58.25 per pound as of August 21, 2023, marking a 22% year-to-date increase.
Source: https://www.msn.com/en-us/money/markets/interest-in-nuclear-energy-is-growing-with-uranium-output-lagging-demand/ar-AA1fFKRC
The renewed interest in nuclear energy has sparked a strong narrative for uranium exploration companies in the USA. In response to this growing uranium demand, Kraken Energy Corp. (Ticker: UUSA.c or UUSAF for US investors) is actively working to enhance the future prospects of America's uranium distribution network.
Kraken Energy closed up 7% today after announcing that it has expanded its 100%-owned Apex Uranium Property in Central Nevada by adding 117 contiguous claims on Bureau of Land Management ground.
These newly staked claims cover a geophysical trend west of the Apex Uranium Mine, increasing the total property size to 14,892 acres.
Kraken Energy's newly outlined targets are located on the BLM ground immediately west of the historic Apex Uranium Mine. These targets are part of a property-wide mineralized trend that has been identified.
Kraken aims to explore these targets further through various methods, including passive seismic testing to accurately determine target depths, conducting additional airborne magnetic surveys to enhance property-wide coverage, ongoing prospecting, and radon surveying.
By conducting these investigations, Kraken Energy seeks to gather more information about the potential mineral deposits and geological formations in the area to guide their exploration efforts.
The company plans to conduct seismic testing and additional surveys to further explore the area.
The US Forest Service has requested baseline surveys before Kraken can proceed with drilling on its portion of the property. Kraken plans to commence the required study in Q4 2023 and will schedule a wildlife survey based on raptor nesting dates.
Full news here: https://krakenenergycorp.com/news/2023/kraken-energy-significantly-expands-project-size-at-the-apex-property-nevada/ Porsted on behalf of Kraken Energy Corp.