UUSA Strengthens Position with Harts Point Option Agreement As the need to combat climate change becomes more urgent, the US government is actively seeking alternative energy sources to replace fossil fuels and nuclear power is continuing to prove itself as a viable solution. Recognizing this trend, Kraken Energy Corp., known as UUSA.c or UUSAF for US investors, is positioning itself as a key player in uranium production in the United States. The company currently owns three properties, the Apex, Garfield Hills, and Huber Hills projects, all located in Nevada, a highly respected jurisdiction for such ventures.
Yesterday UUSA announced that it has signed a definitive option agreement to acquire up to a 75% interest in the Harts Point Uranium Property in Utah. Full press release here: https://krakenenergycorp.com/news/2023/kraken-energy-executes-definitive-option-agreement-for-the-harts-point-uranium-property-utah/
The property is located in the Colorado Plateau, known for its uranium deposits, and is situated near the White Mesa Uranium Mill. The Property consists of 324 mining claims covering an area of 2,622 hectares, with permits in place for exploration drilling.
UUSA aims to explore the potential for uranium deposits along the east flank of an anticline feature within the Chinle Formation. The Harts Point Property has a history of uranium production and shows promising signs of radioactivity.
UUSA will become the operator and must incur $1.5 million of eligible expenditures within 18 months to earn a 65% interest, with the option to increase its interest to 75% by incurring additional expenditures and issuing shares to Atomic Minerals Corporation.
With the strong potential of the Harts Point property to host a uranium deposit trend and the favorable geological factors supported by historical mining and radioactivity, UUSA is enthusiastic about proceeding with its upcoming drill program, which has been largely permitted already. Posted on behalf of Kraken Energy Corp.