Kraken Energy Corp C.UUSA

What We Need to Know About Uranium Hitting 15-Year Highs

[MarketMakerss]

With a nuclear renaissance underway amid the global fight against climate change, uranium futures surged by over 50% in 2023, reaching 15-year high spot prices; thus, creating a robust market poised for dramatic gains as new assets are required to balance the supply and demand forces. (Source: https://www.kitco.com/commentaries/2023-10-31/Uranium-reaches-a-15-year-high-Nuclear-energy-comeback-and-what-we-need-to-know.html)

Poised to commence a drill program before year-end having received its highly anticipated permits, Kraken Energy (UUSA.c UUSAF) has emerged as a high potential opportunity in this landscape with three high-grade uranium projects, including its 100% owned, past-producing flagship Apex Uranium Property in Nevada.

With approval to drill up to 2,200m in 24 holes from 8 pads at the Apex Uranium Project, this inaugural drill program will test high-priority targets immediately northwest and along trend of the historic mine, coinciding with geophysical signatures outlining the mineralized contact

The Apex Uranium Mine was Nevada's largest past-producing uranium mine with a 17.5km mineralized trend which produced over 100,000 pounds of U3O8 in the 1950s at an average mining grade of ~0.25% U3O8. Historic drilling results include results of up to 3.1 m (10 ft) at 1.33% U3O8, 34.1 m (112 ft) at 0.37% U3O8 and 15.2 m (50 ft) at 0.51% U3O8

UUSA CEO Matthew Schwab commented:

"As our understanding of the property has continued to develop, the multi-layered anomalies from radon and geophysical surveys (electromagnetic and magnetic) combined with our ground truthed geological model presents excellent discovery potential for the upcoming drill program at our flagship uranium property in Nevada."

This news follows UUSA's significant expansion of the Apex Property on Nevada Bureau of Land Management ground that covers the potential northwest extension of uranium mineralization from the mine, as well as the identification of multiple high-priority drill targets comprising coincident geophysical and radon anomalies along a 2.0km trend northwest of the Apex Mine and within the newly expanded BLM ground

For more information, check out UUSA's feature in Baystreet's "Top 5 Ways to Invest in Explosive Uranium Demand": https://www.baystreet.ca/stockstowatch/16273/Top-5-Ways-to-Invest-in-Explosive-Uranium-Demand

Posted on behalf of Kraken Energy Corp.