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Fission Uranium Completes Successful Drilling Program
Fission Uranium Corp. has announced the completion of its resource upgrade and growth drilling program, which aimed to confirm modeled uranium mineralization in all holes. The company reported strong mineralization in all holes, indicating significant uranium deposits at its project site.
As part of the program, two additional drillholes, PLS24-662 and 675, were completed on grid line 1515W in 2024. These results further support the potential for expanding the company’s uranium resources and advancing the project towards production.
The Importance of Uranium in the Global Energy Mix
Uranium has become one of the world’s most important energy minerals over the last 60 years, primarily used for electricity generation, as well as medical isotopes and marine propulsion. The largest-producing uranium mines in 2022 include Cigar Lake in Canada, Husab in Namibia, Inkai in Kazakhstan, and Olympic Dam in Australia.
According to recent data, Australia, Kazakhstan, Canada, Russia, and Namibia hold the largest known recoverable uranium resources, with a global total of 6,078,500 tonnes U. These countries play a crucial role in supplying the growing demand for clean and reliable energy worldwide.
Nuclear Power in the United States
In the United States, nuclear power plants generated 775 billion kilowatt-hours of electricity in 2023, providing nearly half of the country’s clean energy and powering over 72 million homes. Nuclear power plants operated at full capacity more than 93% of the time in 2023, making them one of the most reliable energy sources in the US.
The high energy density of uranium fuel is another advantage of nuclear power. Due to its high density, the amount of used nuclear fuel produced over the last 60 years could fit on a football field at a depth of less than 10 yards, minimizing the environmental footprint of nuclear waste storage.
Recent Developments in the Uranium Industry
In other recent news, the Honeymoon uranium project in South Australia has been restarted, while a final permit has been issued for a Mauritanian uranium mine. However, the operating permit for the Imouraren uranium mine in Niger has been revoked, highlighting the dynamic nature of the uranium mining industry.
As companies like Fission Uranium continue to explore and develop new uranium deposits, the global energy landscape is set to evolve, with nuclear power playing an increasingly important role in the transition to a clean energy future.
