Kraken Energy receives drill permit for flagship Apex Uranium Property in Nevada

On 28th August 2023, Kraken reported a significant expansion of the Apex Property on Nevada Bureau of Land Management (BLM) ground that covers the potential northwest extension of uranium mineralisation from the historic Apex Uranium Mine. On 17th October 2023, the company reported on the identification of multiple high priority drill targets comprising coincident geophysical and radon anomalies along a 2.0 km trend northwest of the Apex Mine and within the newly expanded BLM ground.

Kraken has received approval from the Nevada BLM to drill up to 2 200 m in 24 holes from 8 pads and expects to commence drilling before the end of 2023. This inaugural drill programme will test high priority targets immediately northwest and along trend of the historic Apex Uranium Mine in central Nevada.

Highlights:

• Priority drill targets over strong radon anomalies coincide with geophysical signatures outlining the mineralised contact at the historic Apex Uranium Mine.
• Interpretation of the recently flown VTEM and UAV magnetic surveys shows a geophysical signature associated with uranium mineralisation 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.
• Over 2 km of new high priority target potential has been identified on the recently staked BLM ground that follows the northwest mineralized trend from the Apex Mine.
• Newly defined and previously undrilled target area with projected target depths ranging from 50 m to 200 m.

“The emergence of this 2 km long, high priority target area along trend of the historic Apex Uranium Mine is very exciting for the Kraken team. With an approved drill permit now in hand and the environmental bond paid, we are ready to commence our maiden drill programme at the Apex Uranium Property,” Matthew Schwab, CEO of Kraken Energy, stated. “As our understanding of the property has continued to develop, the multi-layered anomalies from radon and geophysical surveys (electromagnetic and magnetic) combined with our ground truthed geological model presents excellent discovery potential for the upcoming drill programme at our flagship uranium property in Nevada.”

Read the article online at: https://www.globalminingreview.com/mining/26102023/kraken-energy-receives-drill-permit-for-flagship-apex-uranium-property-in-nevada/