Nuclear Fuels Announces Resumption of Drilling at Its Kaycee ISR Uranium Project, Powder River Basin, Wyoming
Nuclear Fuels Inc. (CSE: NF) announces the resumption of drilling at its Kaycee ISR Uranium Project in Wyoming's Powder River Basin. Phase 1 drilling in 2023 confirmed and expanded historic resources. Phase 2 in 2024 aims to expand mineralization at depth and along trend. The company is focused on ISR uranium resources extraction. The Kaycee Project represents a significant opportunity in a prolific ISR amenable sandstone basin in the US. The project is in a long-term demand-driven uranium cycle. Wyoming's favorable regulatory environment and historic uranium production make it an ideal location for uranium projects.
Nuclear Fuels Inc. resumes drilling at the Kaycee ISR Uranium Project, aiming to expand mineralization and confirm historic resources.
The company's focus on In-Situ Recovery technology for uranium extraction reflects innovative and environmentally friendly mining practices.
The successful 2023 drilling program at Kaycee Project has led to an amendment to expand the drilling target area, showcasing positive progress and growth.
Wyoming's pro-energy government and established regulatory regime create a conducive environment for uranium projects, enhancing operational efficiency.
While the PR highlights positive drilling results, there may be potential risks and uncertainties associated with the ongoing drilling operations and resource estimation.
The reliance on uranium production in a specific geographical region like Wyoming may expose the company to regional market fluctuations and geopolitical risks.
CSE:NF
Nuclear Fuels is focused on the exploration and exploitation for In-Situ Recovery ("ISR") uranium resources. ISR technology extracts uranium in a non-invasive process using natural groundwater and oxygen, and a proven ion exchange process, for uranium recovery
Highlights:
- Phase 1 drilling in 2023 successfully confirmed and expanded historic resources returning grades ranging from trace to 6.5 feet at
0.187% U3O8(Gamma log) with a grade thickness of 1.216*; - In 2024, Phase 2 drilling will commence with 111 permitted drill sites designed to expand the areas drilled in 2023 and define new mineralized zones along trend.
- Based on the success of the 2023 drilling, an amendment to our drill permit has been filed to significantly expand the target area for drilling and increase the number of drill sites.
- This work continues to build our Kaycee ISR focused project base as well as advancing the Bootheel project in
Albany County, Wyoming .
Michael Collins, Chief Executive Officer of Nuclear Fuels stated, "We are in a long-term demand driven uranium cycle. The Kaycee Project provides a great opportunity to grow an economic ISR uranium resources in one of the most prolific ISR amenable sandstone hosted uranium basins in the US. We look forward to a successful year at both Kaycee and our wider
Selected 2023 drill holes with a grade thickness greater than 0.7 (%U3O8 x footage) | ||||||
Drill Hole ID | Zone | From (ft) | Thickness (ft) | Grade (%U308) | GT (Grade X Thickness) | Total Hole GT |
SD23_009 | 3 | 331.0 | 4.0 | 0.227 | 0.908 | |
SD23_010 | 2 | 330.5 | 3.5 | 0.240 | 0.840 | |
SD23_012 | 1 | 285.5 | 4.0 | 0.180 | 0.720 | |
SD23_020 | 1 | 178.0 | 3.5 | 0.252 | 0.882 | |
SD23_050 | 2 | 291.5 | 7.0 | 0.142 | 0.994 | |
SD23_052 | 3 | 278.5 | 6.5 | 0.187 | 1.216 | |
SD23_054 | 1 | 270.5 | 4.0 | 0.218 | 0.872 | |
SD23_065 | 2 | 305.5 | 4.5 | 0.237 | 1.067 | 1.567 |
SR23_001 | 1 | 401.5 | 5.5 | 0.141 | 0.776 | |
SR23_002 | 3 | 422.0 | 4.5 | 0.233 | 1.049 | 1.542 |
To view the Kaycee uranium drill program video please visit: Kaycee Project- Nuclear Fuels (youtube.com) and for more frequent updates, follow us on Instagram, X, Facebook and LinkedIn.
The Kaycee Project in
Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for
The technical content of this news release has been reviewed and approved by Mark Travis, CPG., a contractor to the Company, and a Qualified Person as defined in National Instrument 43-101.
*Drill holes are reported that returned significant zones of uranium mineralization with >2 ft thickness at or above a grade cut-off of 0.02 per cent eU3O8 or that are relevant to exploration targeting. %U3O8 by Gamma logging is a measure of gamma intensity from a decay product of uranium. Gamma log assays may be in disequilibrium with ICP-MS or PFN assays. Comparisons of U3O8 Gamma log and ICP-MS assays of
Drill holes are completed by Single Water Services using a 4.75 inch diameter rotary drill rig. Chip samples are collected for lithological logging every five feet. Century Geophysics of Tusla Oklahoma is contracted to conduct downhole gamma ray, resistivity, spontaneous potential, and deviation. Century Geophysics calibrates its downhole tools in the US Department of Energy uranium logging Test pits in
Nuclear Fuels Inc. is committed to aggressive exploration of district-scale In-Situ Recovery ("ISR") uranium projects in proven and prolific jurisdictions. Focused on its priority Kaycee Project, located in
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company's profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Nuclear Fuels Inc.
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