- Kraken Energy (CSE:UUSA) has commenced the inaugural drill program at its past-producing flagship Apex uranium mine
- The 2,200-metre drilling program will target a mineralized area over 2 kilometres in strike length consisting of two separate target areas immediately along strike from the mine
- The company has received approval to initially drill up to 2,200 metres in 24 holes from eight pads
- Kraken Energy Corp. last traded at $0.20 per share
Kraken Energy (CSE:UUSA) has commenced the inaugural drill program at its past-producing flagship Apex uranium mine.
The 2,200-metre drilling program will target a mineralized area over 2 kilometres in strike length consisting of two separate target areas immediately along strike from the mine. The company has received approval to initially drill up to 2,200 metres in 24 holes from eight pads.
Priority drill targets over strong radon anomalies coincide with geophysical signatures outlining the mineralized contact at the historic Apex uranium mine.
Interpretation of the recently flown Versatile Time Domain Electromagnetic (VTEM) and unmanned aerial vehicle (UAV) magnetic surveys shows a geophysical signature associated with uranium mineralization at the Apex Mine that appears to be offset to the north where it continues trending northwest. This geophysical signature coincides with strong and consistent, recently identified radon anomalies.
The company is advancing its 100 per cent-owned Apex uranium property, which is 280 kilometres east of Reno, Nevada, and is recognized as Nevada’s past-producing uranium mine.
“We are very excited to begin drilling at Apex, where historic drilling features results of up to 34.1 metres at 0.37 per cent U3O8 and 15.2 metres at 0.51 per cent U3O8,” Kraken’s CEO, Matthew Schwab, said in a statement. “With radon anomalies now over five 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.”
Kraken Energy is an energy company advancing its portfolio of high-grade uranium properties in the United States.
Kraken Energy Corp. last traded at $0.20 per share.
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