Announcement Date: 2023-06-06
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Kraken Energy Corp.
Project name: Garfield Hills
Location: United States
Commodities: Uranium
Highlight: Drilling results incl. 12.5m at 0.0357% U3O8 from 23m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, British Columbia – June 6th, 2023 – Kraken Energy Corp. (CSE: UUSA; OTCQB: UUSAF) (the “Company” or “Kraken Energy”) is pleased to announce geochemical assay results from its maiden drilling program at the Garfield Hills Uranium Property (“Garfield Hills” or the “Property”) in west-central Nevada. A total of 1,697.2 meters (“m”) were drilled in the 2022 and early 2023 Phase I exploration program. The 11 completed holes over a surface area of 400 m by 900 m confirmed historical drilling and extended the mineralization at the Garfield Hills property. Of the 11 completed holes, 7 holes encountered shallow, flat lying uranium mineralization, highlighted by hole GH22-01 which intersected a broad 12.5 m interval of 0.036% U3O8 starting from a depth of 23.0 m, and hole GH23-04 which returned 7.0 m of 0.029% U3O8 from 17.5 m. Additionally, the Company announces that regional exploration and new soil sampling continues to encounter high grade surface and soil samples of up to 1.007% U3O8 along strike to the east of Phase I drilling and up to 0.320% U3O8 to the west of Phase I drilling, identifying a mineralized trend of over 4 kilometers (“km”
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