Kraken Energy Corp C.UUSA

COP28 on Nuclear Energy

[MarketMakerss]

"There is no way, absolutely none, that the world’s energy transition away from fossil fuels can be achieved without a massive increase globally of nuclear power"

 

The future of nuclear power emerged as a focal point at COP28, with 20 (and counting) countries pledging to triple nuclear power capacity by 2050. To meet both climate reduction goals and energy security goals, a net addition of 800 large reactors or a few thousand small reactors is required, thus, a substantial increase in uranium supply is needed, in turn. (Source: https://www.bnnbloomberg.ca/future-of-nuclear-energy-celebrated-at-cop28-lightbridge-ceo-1.2008625)

 

Having climbed to its highest level in more than 15 years, the uranium spot market has been tightening as the market continues to deal with a supply deficit amid the nuclear resurgence.

 

Standing out as a high potential opportunity amid this landscape having commenced the inaugural drill program at its 100% owned, past-producing flagship Apex Uranium Property, Kraken Energy (UUSA.c UUSAF) is poised for significant growth amid this dynamic landscape.

 

Apex Mine is 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's 2,200m drilling program is targeting a mineralized area over 2km in strike length and will consist of 24 holes from 8 pads to test the high-priority targets immediately northwest and along trend of the historic mine, coinciding with geophysical signatures outlining the mineralized contact.

 

UUSA CEO Matthew Schwab commented:

"With radon anomalies now over 5 times larger than the footprint of the Apex Mine, our team is confident in the priority targets outlined for this maiden drilling program on the property."

 

This 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

 

Full News Release: https://krakenenergycorp.com/news/2023/kraken-energy-commences-drilling-program-at-flagship-apex-uranium-property-nevada/

 

Posted on behalf of Kraken Energy Corp