## Nuclear Fuels Strikes Gold: High-Grade Uranium Discovery at Kaycee Project Extends Mineralization Zones
Nuclear Fuels Inc. (CSE:NF, OTCQX:NFUNF) is buzzing with excitement after revealing the most promising drilling results yet at its Kaycee In-Situ Recovery (ISR) Uranium Project in Wyoming’s Powder River Basin (PRB). The current drill hole results come from the company’s inaugural drilling at the historic Stirrup West and East Zones, situated approximately 2.7 miles from the Saddle Zone and 1 mile from the Spur Zone.
The drilling at the Stirrup West Zone unearthed a remarkable discovery – an intercept of 0.205% eU3O8 over 8.0 feet, achieving a Grade Thickness (GT) of 1.640. This GT represents the highest recorded by Nuclear Fuels to date, significantly bolstering the project’s potential for large-scale uranium production.
Meanwhile, drilling at the Stirrup East Zone confirmed the presence of high-grade historic mineralization, and extended the Zone by an impressive ~1,000 feet to the northeast, with an intercept of 0.107%eU3O8 over 4.5 feet, resulting in a total hole GT of 0.854.
Key Highlights of the Q3/24 Kaycee Project Drilling Program:
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Drill hole JD24-002 at Stirrup West:
Intersected 5 distinct mineralized intercepts with a single 8.0 foot interval yielding 0.205% eU3O8 for a GT of 1.640 and a total hole GT of 1.821.*
Drill hole JD24_058 at Stirrup West:
Drilled as a step-out hole north of the historical mineralization, returned 0.077% eU3O8 over 5.0 feet, with a GT of 0.385. This, along with additional step-out holes drilled south of the historical mineralization, points to the potential for significantly extending the Stirrup West Zone both northward and towards the Spur Zone to the south.*
Hole JD24_063 at Stirrup East Zone:
Revealed 0.107% eU3O8 over 4.5 feet, with a GT of 0.482, and another interval of 0.057% eU3O8 over 6.5 feet, for a total hole GT of 0.854, extending mineralization 1,000 feet northeast from the historic resource area.*
Overall:
A total of 107 holes were drilled with an average depth of 498.9 feet. Notably, 83% (90) of these holes encountered anomalous uranium, and 18 of them delivered a GT of 0.2 or higher.Greg Huffman, Chief Executive Officer of Nuclear Fuels, expressed his enthusiasm, stating, “We are continually impressed not only by the confirmation of existing historic areas of uranium mineralization but also by the swift pace at which we have been able to extend several of the Zones at Kaycee along trend. We are now confident that a number of these discrete historical areas are likely to merge and form larger mineralized zones.”
Stirrup Zone Drill Program:
The Stirrup West and Stirrup East Zones are located approximately 0.8 miles north and 1.2 miles northeast of the Spur Zone, respectively. During Q3/24, 74 drill holes were completed at the Stirrup Zones to an average depth of 491.0 feet. These holes were meticulously planned to verify mineralization encountered during previous exploration efforts in the 1970s and early 1980s, as well as to probe for potential extensions of the mineralized zones. Out of the 74 holes drilled at the Stirrup Zone, 50% (37 drill holes) returned anomalous gamma values, and 16 holes achieved a GT of 0.20 or higher, including 6 holes with a GT exceeding 0.5.
Next Steps for Nuclear Fuels:
The exploration program at the Kaycee Uranium Project is ongoing, with the company focusing on drilling step-outs from established historic resources along trend to further expand the known mineralization. In addition, the team is actively exploring regional targets that have yet to be investigated for uranium mineralization. These targets have been identified through the analysis of over 500 newly acquired oil and gas logs, presenting a potential path to new uranium discoveries within the Project.
Kaycee Uranium Project – A Strategic Asset:
The Kaycee Project in Wyoming’s PRB stands as Nuclear Fuels’ top priority. The project encompasses 55 square miles of mineral rights over a 35-mile mineralized trend hosting 430 miles of identified roll fronts. The Kaycee Project is believed to be the only project in the PRB where all three historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction.
Under Nuclear Fuels’ stewardship, the Kaycee Project marks the first time since the early 1980s that the entire district is under the control of a single company. In 2023, Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for 51% of the project by paying 2.5X the exploration costs and financing the Kaycee project to production (costs recoverable from production) upon Nuclear Fuels establishing a minimum 15 million pound eU3O8 43-101 compliant resource.
Wyoming’s favorable regulatory environment for uranium production through ISR technology, coupled with its long history as a uranium producer, makes the Kaycee Project particularly promising.
The drill holes were completed by Single Water Services using a rotary drill rig. Chip samples were collected for lithological logging every five feet. Century Geophysics of Tulsa Oklahoma is contracted to conduct downhole gamma ray, resistivity, spontaneous potential, and deviation measurements. Century Geophysics calibrates the downhole tools in the US Department of Energy uranium logging Test pits in Casper Wyoming, ensuring the accuracy of the downhole gamma ray log measurements.
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a dedicated uranium exploration company driving the development of early-stage, district-scale In-Situ Recovery (ISR) amenable uranium projects toward production in the United States. By leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is strategically positioned for significant and sustained growth in a sector bolstered by robust government support.
The company has consolidated the Kaycee Wyoming district under its single-company control, a first since the early 1980s. Currently, Nuclear Fuels is executing its second drill program at the Kaycee Project, aiming to expand upon historic resources across a 35-mile trend featuring over 430 miles of mapped roll-fronts. The company’s strategic partnership with enCore Energy Corp. offers a mutually beneficial “pathway to production,” with enCore retaining the right to back-in to 51% ownership in the flagship Kaycee Project.
Nuclear Fuels is poised to play a pivotal role in the future of uranium production, capitalizing on the increasing demand for this crucial resource. This latest discovery at the Kaycee Project further cements the company’s position as a leader in the uranium exploration and development sector.
Visit www.nuclearfuels.energy for more information.
