Location:
Wyoming (Powder River Basin), United States
Ownership:
100%
Deposit Type:
Roll front uranium deposits in Wasatch, Fort Union, and Lance Formations
Primary Minerals:
Uranium
Stage:
Exploration
Current Status:
2025 drilling underway
The Kaycee Project is located in Wyoming’s Powder River Basin, historically the backbone of Wyoming uranium production and host to the majority of ISR projects in the state. The project covers a 35-mile mineralized trend with over 430 miles of identified roll fronts and consists of more than 55 square miles of mineral rights, or 33.752 acres covering the western limb of the Powder River Basin. This marks the first time since the early 1980s that the entire district has been under the control of a single company, previously through Nuclear Fuels Inc.
Historic drilling of over 3,800 holes has confirmed uranium mineralization over more than 1,000 vertical feet in all three historically productive sandstones within the Powder River Basin. The Kaycee Project is the only project in the basin where all three formations – Wasatch, Fort Union, and Lance – are mineralized and potentially amenable to ISR extraction. In the Powder River Basin, potentially ISR-recoverable uranium mineralization with a GT of greater than 0.20 is considerable suitable for inclusion in a potential wellfield.
Historic data includes 3,800 drill holes throughout the 35-mile trend and over 430 miles of identified roll fronts. The majority of the trend has not been well explored with drilling concentrated on approximately 10% of the trend. Nuclear Fuels commenced drilling at the Kaycee Project in November 2023 with a focus on confirming and expanding historic resources at the Saddle, Spur, and Stirrup zones, which had not been drill-tested since the early 1980s. A total of 200 holes were completed in 2023 and during the first half of 2024, successfully confirming and expanding historically identified mineralization at all three zones with numerous holes returning potentially economic grades at relatively shallow, potentially ISR-amenable depths.
In October 2024, the exploration drill program shifted to testing regional targets that had not been extensively explored. This regional drilling identified two new zones of roll front-hosted uranium mineralization, including the best drilling results to date. These discoveries at the Outpost Zone and Trail Dust Zone were generated through the evaluation of more than 500 oil and gas logs and represent new roll front trends incremental to the 430 miles historically delineated. Planning for the 2025 drill program is underway with a focus on following up at the Outpost and Trail Dust Zones to better define orientation and geometry. Additional drilling in 2025 will also test other high priority regional targets. The project represents the largest grass-roots ISR exploration in the United States, with 228,170 feet drilled in 2023 to 2024 and 100,000 feet of drilling underway to follow up on new discoveries.
Technical Report for Kaycee
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