12:31 PM EDT, 10/30/2024 (MT Newswires) -- Nuclear Fuels ( NFUNF ) on Wednesday released results from the on-going drilling program at the Kaycee In-Situ Recovery (ISR) Uranium Project in Wyoming's Powder River Basin (PRB).

The current drill hole results are from the company's first drilling on the historic Stirrup West and East Zones which lie about 2.7 miles from the Saddle Zone and 1 mile from the Spur Zone.

Drilling at the Stirrup West Zone returned up to 0.205% eU3O8 over 8.0 feet (% eU3O8 is a measure of gamma intensity from a decay product of uranium and is not a direct measurement of uranium). Drilling at Stirrup East Zone has confirmed high grade historic mineralization, and extended the zone by about 1,000 feet to the northeast, with best results testing at 0.107% eU3O8 over 4.5 feet.

"We continue to be impressed with not only our confirmation of existing historical areas of uranium mineralization, but by how quickly we have been able to extend several of the zones at Kaycee along trend," said Chief Executive Officer Greg Huffman. "We are now of the belief that a number of these discrete historical areas are likely to connect and combine into larger mineralized areas."

The company's shares were last seen up $0.015 to $0.51 on the Canadian Securities Exchange.

Price: 0.51, Change: +0.02, Percent Change: +3.03