Kraken Energy (UUSA.C UUSAF) Reports Promising Drill results Concerns regarding geopolitical conflict and climate change have motivated the US government to offer incentives for domestic uranium producers. One junior uranium company that has the potential to benefit from this government support is Kraken Energy Corp. (Ticker: UUSA.c or UUSAF for US investors).
UUSA controls the 3 projects in Nevada, a Tier 1 mining jurisdiction, the Garfield Hills, Huber Hills and Apex Projects.
Garfield Hills Project is located only 12km east of Hawthorne in Mineral County and spans 1,268 hectares. Drill results released last week showed the project contains broad zones of elevated radioactivity. One drill hole 18.0m of elevated radioactivity with downhole probe readings from 251431 cps. Full results here: https://ca.finance.yahoo.com/news/kraken-energy-intersects-additional-elevated-120000421.html
UUSA is planning a follow-up Phase 2 drill program for later this year to follow up on these exciting findings.
UUSA's Huber Hills Project historically produced ~10,000 pounds of UO with an average grade of 0.24% UO. More recent channel samples returned UO grades of 0.149% and 0.102%, strongly suggesting that the project has more uranium to give.
The Apex Project is an even more impressive past-producer, containing Navada's largest past-producing uranium mine. The Apex mine historically accounted for 50% of the state's uranium output at an average grade of around 0.25% UO. Despite selling approximately 106,000 pounds of UO in the 1950s, the site has not undergone any development since then.
Utilizing modern discovery methods UUSA believes it can yield even more uranium from its Apex, Huber Hills and Garfield Hills Projects
For those interested, refer to Kraken Energy's (UUSA.c UUSAF) website for more information here: https://krakenenergycorp.com/. Posted on behalf of Kraken Energy Corp.