Drilling @ Harts Point Revived Amidst Bullish Uranium Market With the uranium market experiencing a significant upswing in light of the increasing demand for carbon-free nuclear energy, Kraken Energy Corp. (Ticker: UUSA.c or UUSAF for US investors) restarted the Phase I drilling program at its Harts Point Uranium Property in Southern Utah.
Harts Point, strategically located within the Colorado Plateau, is recognized for its storied history of production. Covering 2,622 hectares, the property comprises 324 lode mining claims on Bureau of Land Management territory.
Of significance is the Harts Point Anticline, geologically comparable to the productive Lisbon Valley Anticline, which has historically yielded approximately 280,000 lbs UO at 0.3% UO from the favorable Chinle Formation host rock.
The infrastructure around Harts Point, which is just 64 km north of the White Mesa uranium processing facility, provides convenient access, enhancing operational efficiencies for Kraken Energy.
The decision to resume drilling is underpinned by the potential for significant uranium deposits, supported by historical exploration wells revealing 'off-scale' radioactivity in the Chinle Formation host rock.
The drill program is expected to extend over a 5 km strike length and aims to evaluate the mineralized trend and unlock substantial uranium resources.
Kraken Energy's decision to resume drilling at Harts Point signifies a strategic pivot aimed at maximizing near-term opportunities. The company's commitment to operational efficiency positions it for sustained success in the dynamic uranium exploration landscape.
Full news here: https://krakenenergycorp.com/news/2023/kraken-energy-receives-permit-to-resume-phase-i-drill-program-at-harts-point-and-provides-corporate-update/
Posted on behalf of Kraken Energy Corp.