- Kraken Energy Corp. (UUSA) reports the results of a magnetic and radiometric survey conducted at the Garfield Hills Uranium Property in Nevada
- Five new drilling targets have been identified
- Further geological mapping at Garfield Hills is planned for summer 2023 to identify additional target areas
- The company has additionally entered into an option agreement to earn 100 per cent of the Garfield Hills Uranium Property
- Kraken Energy Corp. (UUSA) opened trading at C$0.44
Kraken Energy Corp. (UUSA) reports the results of a magnetic and radiometric survey conducted at the Garfield Hills Uranium Property in Nevada.
Highlights:
- Five new drilling targets have been identified
- Additional drill targets are currently being evaluated based on information from current drilling and geologic mapping interpretations
- Further geological mapping at Garfield Hills is planned for summer 2023 to further understand additional target areas
- Some of the smallest airborne anomalies on the property correlate with grab samples grading as high as 0.32% U3O8
- Target areas are much larger than expected, suggesting increased potential for a larger uranium mineralized system across much of the property.
CEO Matthew Schwab commented on the results.
“These survey results have identified much larger target areas than we expected,” stated “With the smallest anomalies returning very promising results and the largest anomalies still largely untested, we are seeing strong evidence of a mineralized uranium system with significant size and scale potential at Garfield Hills.”
The airborne surveys were conducted by MWH Geo-Surveys using a Geometrics MagArrow Cesium Magnetometer and a D230A UAV Gamma-Ray Spectrometer flown under a Watts Innovation Prism X8 axial quadcopter.
Follow-up ground truthing, using a handheld Radiation Solutions RS-125 spectrometer, was completed over the areas of interest outlined by the airborne surveys.
Kraken Energy Corp. is a new energy company advancing its 100 per-cent-owned Apex Uranium Property, located east of Reno, Nevada. The Apex Property is recognized as Nevada’s largest past-producing uranium mine. The company has additionally entered into an option agreement to earn 100 per cent of the Garfield Hills Uranium Property, located in Mineral County, Nevada.
Kraken Energy Corp. (UUSA) opened trading at C$0.44.