As the uranium sector is experiencing renewed interest and growth as global demand for clean energy sources continues to rise, Kraken Energy Corp. (ticker: UUSA.c or UUSAF for US investors) is strategically advancing its portfolio of high-grade uranium properties in the United States.
Kraken Energy Corp. controls the past-producing Apex, Garfield Hills and Huber Hills Uranium Projects in Nevada as well as the Harts Point Uranium Property in southeast Utah.
Positioned at the heart of the Colorado Plateau, often referred to as "the Athabasca Basin of the US," the Harts Point Property benefits from its strategic location. Situated just 64 kilometers (40 miles) north of the White Mesa Uranium Mill, the only fully licensed and operating conventional uranium mill in the United States, the property holds immense potential.
Kraken Energy announced today that it has started drilling activities at its Harts Point Uranium Property. With 20 fully permitted drill pad locations, the company's initial focus will be on drilling three holes along a 5 km strike length.
These drill holes will target the favorable uranium-bearing Chinle Formation host rock, which has shown promising historical results from three oil and gas wells displaying "off-scale" radioactivity.
Positive outcomes from the initial drilling are expected to pave the way for an extended drill program to further evaluate the mineralized trend.
With approximately $5 million in cash reserves, Kraken Energy is fully funded for an extensive drill program on the Harts Point Property. The company is confident that the historical off-scale radioactivity encountered from the oil and gas wells enhances the potential for exploration success at the Harts Point Property.
Full news release: https://krakenenergycorp.com/news/2023/kraken-energy-commences-drilling-at-harts-point-uranium-property-utah/ Posted on behalf of Kraken Energy Corp.