The uranium sector has experienced a notable resurgence in recent years, driven by the increasing global demand for clean and reliable energy sources. As nations prioritize the transition to sustainable power generation, uranium plays a crucial role as a key component in nuclear energy production.
Kraken Energy Corp. (UUSA.c or UUSAF for US investors) is actively focused on advancing its portfolio of high-grade past-producing uranium properties in the United States through strategic acquisitions and exploration efforts. Today, UUSA.c closed up 4%.
Among its portfolio, UUSA's Harts Point Property stands out as a promising asset with significant exploration potential. Notably Harts Point is only 64km from the only operating uranium mill in the USA. The property offers favorable conditions for the discovery of high-grade uranium deposits sharing similarities with the historically significant Lisbon Valley Anticline, which has been host to 17 large uranium mines in the past.
In a recent development, UUSA announced the acquisition of permits to initiate drilling activities at the Harts Point Property. These permits grant authorization for up to 20 drill pads, enabling comprehensive assessment of uranium mineralization across the property.
The initial phase of drilling will focus on drilling holes to twin three historical holes that exhibited significant radioactivity over a 5-kilometer stretch, indicating the presence of uranium mineralization. The drill program is scheduled to commence in early this month.
Full news release here: https://krakenenergycorp.com/news/2023/kraken-energy-receives-drilling-permit-for-20-drill-pad-locations-for-phase-i-drill-program-at-harts-point/ Posted on behalf of Kraken Energy Corp.