UUSA.c Initiates Inaugural Drilling Program at Apex The global uranium sector stands at the threshold of a promising era, characterized by a resurgence of interest and investment in nuclear energy. As the world endeavors to transition towards sustainable and low-carbon energy sources, the role of nuclear power has regained prominence. With growing recognition of the need for reliable, base-load power to meet escalating energy demands while mitigating the impacts of climate change, uranium's pivotal role in nuclear energy production has come into sharp focus.
Kraken Energy (Ticker: UUSA.c or UUSAF for US investors), striving to become a domestic uranium producer, is making significant advancements at its high-grade past-producing uranium properties in the United States. UUSA.c closed up 6% today on good volume (>100k units), putting it up 24% over the month.
At the forefront of their endeavors is the 100%-owned Apex Uranium Property, strategically situated 280 km east of Reno, Nevada. Recognized as Nevada's largest past-producing uranium mine, the Apex Property is a cornerstone in UUSA's portfolio.
UUSA recently started the inaugural drill program at Apex which is targeting a mineralized area over 2 kilometers in strike length, located immediately along strike from the past-producing Apex Mine.
The approval to drill up to 2,200 m in 24 holes from 8 pads marks a significant milestone for the company.
Matthew Schwab, CEO of UUSA, expressed enthusiasm about the drilling program, citing historic drilling results of up to 34.1 m at 0.37% UO and 15.2 m at 0.51% UO. Notably, radon anomalies at Apex are now over 5 times larger than the footprint of the Apex Mine, bolstering confidence in the priority targets outlined for this maiden drilling program.
Interpretation of recently flown VTEM and UAV magnetic surveys reveals a geophysical signature associated with uranium mineralization at the Apex Mine, offsetting to the north and trending northwest. This signature aligns with strong and consistent radon anomalies, emphasizing the potential of the identified high-priority target areas.
The newly defined and previously undrilled target area presents exciting prospects, with projected target depths ranging from 50 m to 200 m.
UUSA's foray into drilling at the Apex Uranium Property reflects a strategic move in unlocking the vast potential of their high-grade uranium portfolio, solidifying their position in the dynamic uranium sector.
Full news here: https://krakenenergycorp.com/news/2023/kraken-energy-commences-drilling-program-at-flagship-apex-uranium-property-nevada/
Posted on behalf of Kraken Energy Corp.