UUSA Identifies 2km of High-Priority Drill Targets at Apex As argued in the Forbes article below, much more nuclear energy will be needed as the world continues to electrify.
https://www.forbes.com/sites/kensilverstein/2023/10/23/electrifying-almost-everything-means-much-more-nuclear-energy/?sh=58b4fc7248de
With this, many are arguing that we will see the uranium spot price continue to rise through 2027.
https://twitter.com/quakes99/status/1716474320485064999
Kraken Energy Corp. (CSE: UUSA; OTCQB: UUSAF) is advancing its uranium properties in the United States with a particular focus on the Apex Uranium Property in Central Nevada, which is 100%-owned by the company.
The Apex Uranium Property is notable as Nevada's largest past-producing uranium mine, having produced approximately 106,000 pounds of UO in the 1950s, with an average mining grade of about 0.25% UO.
Historic drilling results include significant intervals, such as up to 3.1 meters (10 feet) at 1.33% UO, 34.1 meters (112 feet) at 0.37% UO, and 15.2 meters (50 feet) at 0.51% UO.
Kraken Energy recently completed a successful radon survey at the Apex Uranium Property, identifying multiple high-priority drill targets on Bureau of Land Management (BLM) land located to the west and along the trend of the historic Apex Uranium Mine.
The interpretation of VTEM and UAV magnetic surveys has revealed a geophysical signature associated with uranium mineralization at the Apex Mine, which appears to be offset to the north and continues to trend northwest.
Importantly, this geophysical signature aligns with strong and consistent radon anomalies.
Key highlights of this development include:
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Strong radon anomalies that coincide with geophysical signatures outlining the mineralized contact at the historic Apex Uranium Mine.
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Identification of over 2 km of high-priority target potential on newly staked BLM ground following the northwest mineralized trend from the Apex Mine.
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The discovery of a newly defined and previously undrilled target area with projected depths ranging from 50 m to 200 m (164 ft to 656 ft).
With this, UUSA has submitted a Notice of Intent (NOI) to the BLM to drill up to 2,200 m (7,217 ft) across 24 holes from eight pads.
The fact that this target area is situated on BLM land is a positive development, as it is expected to streamline the permitting process, potentially enabling the company to begin drilling operations before the close of 2023.
Full press release here: https://krakenenergycorp.com/news/2023/kraken-energy-identifies-multiple-additional-priority-drill-targets-at-apex-uranium-property-nevada/
Posted on behalf of Kraken Energy Corp.