Nuclear Fuels (CSE: NF; US-OTC: NFUNF) plans a resource update this year for its flagship Kaycee project in Wyoming, which it hopes to advance as an in-situ recovery uranium mine.
“To justify economic development of a roll-front deposit you really need to build up about 10 million lb. because that gives you about a million lb. a year,” Nuclear Fuels CEO Michael Collins said. “When (people in the industry) build and finance a mine they want to see a minimum of 10 years life. We see that potential at Kaycee.”
With $6.5 million in the bank and permits in place to drill 111 holes at Kaycee, Nuclear Fuels plans to update the historic resource at its flagship this summer as it uses the more affordable rotary mud drilling system.
Collins spoke with Henry Lazenby, western editor of The Northern Miner, at the Energy Transition Metals Summit in Washington, D.C., in April.
Watch the full video below.
Joint venture videos are paid-for content in arrangement with The Northern Miner.
Nuclear fueled drills!