Kraken Energy (CSE: UUSA)(OTC: UUSAF) CEO Matthew Schwab on Drilling Priority Targets at Flagship Apex Uranium Project, Nevada, in a Strong Uranium Market


Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of one of the more compelling uranium opportunities in the space — Kraken Energy — Mr. Matthew Schwab. Matt, it's great to have you back on. How are you, sir?

Matthew Schwab: Good morning, Gerardo. I'm doing very well, thanks. It's great that you're having me back again today.

Gerardo Del Real: Well, listen, let's get right into it. Congratulations are definitely in order. You just received the drill permit for your flagship Apex uranium property in Nevada. We talked a bit off-air. We clearly have a lot of momentum in the uranium space and I know that today's news is a big milestone for Kraken, for you, for the team. What comes next?

Matthew Schwab: Well, it's really a big day for Kraken Energy. After a long wait now, we finally got that approved drill permit in place at our flagship Apex property like you just mentioned.

But on top of that, the environmental bond has been paid and now we do expect to drill up to 2,200 meters in 24 holes, and we expect to commence drilling in the coming months. At that pace, we could be seeing results from the property before the end of 2023.

Gerardo Del Real: You've spent a lot of time really defining the targets and being selective, which, as a shareholder, I appreciate because it's always good to see capital go to the highest priority targets as opposed to just putting a drill or a couple of drills and hoping that you find something of significance. Can you speak to the process of vetting out the targets?

Matthew Schwab: Absolutely. I think everybody understands or knows the story that we have quite an extensive history in uranium exploration not just in the States now but across Canada as well. We are quite excited based on how these current targets have developed. 

We've taken our time. We've flown as many geophysical surveys as we could to really give us a good understanding of the property. And now, with very strong radon anomalies coincident over those layered geophysical targets, our team is quite confident as we prepare and when we get ready for the major drilling program to really get underway.

Gerardo Del Real: Really, really excited! What else do you have going on behind the scenes that you can talk about? I know there's always a lot going on that doesn't quite make every press release. How are things corporate-wise behind the scenes?

Matthew Schwab: Going really well, actually. We've still got the four properties that we're working on, of course, pushing Apex ahead a little bit more aggressively being our flagship. But we're still pursuing our Utah property, Harts Point, and definitely still building up that same understanding of the geology at Huber Hills and Garfield Hills. And we do expect to continue drilling at Garfield Hills for sure in 2024 as well. 

Looking forward to getting out there but, of course, pressing right now is Apex. We're just super excited to get onto that property and finally give our shareholders some news on that front that they've been waiting for for a long time.

Gerardo Del Real: I mentioned at the beginning of this interview that we finally have a uranium market with, what looks to me, pretty significant momentum. I have to get your take before I let you go on the uranium space and just how you view that.

Matthew Schwab: For sure. I think it just keeps getting better and better. The fundamentals behind this growing momentum in the uranium market seem to be getting better every day, and I don't think it's going to drop off anytime soon. It's just going to keep building into 2024, and I'm really excited to see how that plays out.

Gerardo Del Real: Looking forward to an exciting Q4. Looking forward to an exciting 2024. We've been patiently waiting for that drill permit. Cannot wait to see the drill bit turning. Thank you again, Matt.

Matthew Schwab: Absolutely. Thanks a lot.