As electrification and reducing dependence on carbon-based energy sources become paramount, the demand for uranium is projected to witness significant growth in the upcoming years. According to the World Nuclear Association, demand is anticipated to rise from 162 million pounds in 2021 to 206 million pounds by 2030 and further escalate to 292 million pounds by 2040.
In response to this growing demand and recognizing the potential in the domestic market, Kraken Energy Corp. (UUSA.c or UUSAF for US investors) is actively dedicated to advancing its high-grade past-producing uranium properties in the United States.
In Nevada, UUSA currently controls the Apex, Garfield Hills, and Huber Hills Uranium Properties. The company also recently acquired the highly prospective Harts Point Uranium Property which is situated in Utah's Colorado Plateau.
UUSA recently announced that they have started drilling at Harts Point, with exploration activities focused on drilling three holes along a 5km strike
As detailed in the UUSA video below, the Colorado Plateau in Utah has been a prolific producer of uranium, yielding more than 328 million pounds of U3O8 at concentrations ranging from 0.2% to 0.4% U3O8 since the 1950s.
In close proximity, just 11 kilometers west of the Harts Point Uranium Property, historic mines successfully extracted 280,000 pounds of U3O8 at an impressive 0.3% U3O8 from the highly favorable Chinle Formation rock.
Watch here:
Posted on behalf of Kraken Energy Corp.