Amidst the global expansion of nuclear energy, many countries are embracing new nuclear plants due to advantages like zero carbon emissions and efficient infrastructure. However, surprisingly, the United States heavily depends on uranium imports despite its potential for energy independence.
To address growing domestic demand and bolster domestic production, Kraken Energy Corp. (Ticker: UUSA.c or UUSAF for US investors) is dedicated to developing its high-grade past-producing uranium properties within the country. UUSA closed in the green today with high volume, putting it up 11% over the month.
UUSA controls the Apex, Garfield Hills, and Huber Hills Uranium Projects in Nevada, and also recently acquired the Harts Point Uranium Project in Utah.
As described in the video below, the Harts Point Uranium Property is situated in the Colorado Plateau, commonly referred to as 'the Athabasca Basin of the US.' Harts Point benefits from its remarkable proximity to crucial infrastructure, being only 64 kilometers north of the White Mesa Uranium Mill, which is the sole fully licensed and operational conventional uranium mill in the United States.
UUSA recently initiated drilling operations at Harts Point. The company is focusing on three holes along a 5km stretch, with the main objective being to intersect the potentially uranium-rich Chinle Formation host rock.
UUSA is encouraged by historical data from nearby oil and gas wells, which have shown "off-scale" radioactivity.
Full Press Release: https://krakenenergycorp.com/news/2023/kraken-energy-commences-drilling-at-harts-point-uranium-property-utah/ Posted on behalf of Kraken Energy Corp.