Nuclear Fuels Extends Spur Zone Mineralization Over 1,000 Feet and Reports Best Intercept to Date from the Saddle Zone at the Kaycee Uranium Project

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CSE:NF
OTCQX:NFUNF

VANCOUVER, BC, Sept. 23, 2024 /PRNewswire/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announced today the results from the on-going drilling program at the priority Kaycee In-Situ Recovery ("ISR") Uranium Project in Wyoming's Powder River Basin. Drilling results from the Spur Zone have extended uranium mineralization over 1,000 feet. Two miles to the southeast, drilling at the Saddle Zone returned results of up to 0.233% eU3O8 (uranium) over 7.0 feet with a Grade Thickness ("GT") of 1.631. In the Powder River Basin ("PRB") of Wyoming potentially ISR-recoverable uranium mineralization with a GT of greater than 0.25 is considered suitable for inclusion in a potential wellfield.

Nuclear Fuels logo (CNW Group/Nuclear Fuels Inc.)
Nuclear Fuels logo (CNW Group/Nuclear Fuels Inc.)

Specific Highlights include:

  • 1,000+ foot extension of the Spur Zone mineralization towards the Saddle Zone, located approximately two miles to the south, with drill intercepts up to 0.079% eU3O8 (uranium) over 8.0 feet and a GT of 0.632 and 0.117% eU3O8 over 5.0 feet with a GT of 0.585. GT or Grade Thickness, is defined as the product of the uranium grade ("eU3O8%") multiplied by the thickness of the intercept (in feet);

  • Continued successful infill and step-out drilling at the Saddle Zone, with drill intercepts up to 0.233% eU3O8 over 7.0 feet and a GT of 1.631, representing the highest GT reported by Nuclear Fuels to date;

  • 74% (34) of the drill holes completed herein returned anomalous gamma values, with 12 holes returning GT of 0.25 or better;

  • Drilling continues and has expanded to other regional targets and areas of historic mineralization across the Kaycee Uranium Project.

To view project maps please visit: https://bit.ly/4ez2iQv

Greg Huffman, Chief Executive Officer, stated: "The results from this phase of drilling at the Kaycee Uranium Project are the best to date and illustrate the untapped potential of Kaycee. We continue to expand our drill program and truly believe we are in the early stages of a program that will offer up continuing positive results. Our ultimate goal remains to build a significant resource and advance the project to the point where it has the opportunity to become yet another uranium producer in the prolific and proven Powder River Basin."

Table of Significant Results from the Kaycee Uranium Project Drill Program

Drill Hole ID

Drill Hole
Depth

(Feet)

From

(Feet)

To

(Feet)

Grade

(%
eU3O8)

Thickness

(Feet)

Grade
Thickness

SPUR ZONE







SR24_031

350

295.0

303.0

0.079

8.0

0.632

SR24_035

350

264.5

269.0

0.120

4.5

0.540

SR24_038

330

292.0

298.5

0.091

6.5

0.592

SR24_039

350

271.0

278.0

0.048

7.0

0.336

SR24_040

340

257.5

262.5

0.117

5.0

0.585

SR24_045

350

240.5

245.0

0.079

4.5

0.356








SADDLE
ZONE







SD24_088

310

218.0

224.0

0.109

6.0

0.654

SD24_090

370

289.0

294.0

0.190

5.0

0.950

SD24_093

310

224.5

229.0

0.266

4.5

1.197

SD24_094

330

253.0

256.5

0.127

3.5

0.445

SD24_095

400

337.0

344.0

0.233

7.0

1.631

SD24_100

350

287.5

300.5

0.089

13.0

1.157

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. (1) %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 assays. Comparisons of U3O8 Gamma log and ICP-MS assays of Powder River Basin core samples indicate that U3O8 Gamma is comparable to ICP-MS uranium assay in the Powder River Basin. (2) Grade Thickness, or GT, is defined as the product of the mineral grade multiplied by the thickness of the mineralization.

The Kaycee Uranium Project drill program is designed to confirm and expand uranium mineralization associated with known historic resource areas, and test for new areas of mineralization along a 36-mile trend. Drilling continues at the Kaycee ISR Uranium Project with additional drill results pending from both the Spur and Saddle Zones. Currently, one drill rig is testing other historical resource areas beyond Spur and Saddle. Preparations are being made to initiate drilling on new high priority regional targets identified based on surface mapping and the evaluation of additional historic drill logs.