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Traction Uranium Corp. reports on uranium mineral exploration and discovery-stage project development in Canada, with recurring updates tied to Saskatchewan’s Athabasca Basin region. Company news centers on the Aurora Uranium Project, where Traction holds an option to earn an interest from Cosa Resources, as well as exploration activity at Hearty Bay and option-related activity at Grease River.
Recurring developments include airborne radiometric surveys, gravity surveys, sonic and diamond drilling, till sampling, uranium target generation, technical reporting under Canadian mineral disclosure standards, property option obligations, share issuances connected to exploration agreements, and governance changes at the issuer level.
Traction Uranium Corp. (CSE: TRAC, OTC: TRCTF) has received necessary permits from the Saskatchewan Ministry of Environment for its upcoming winter 2023 diamond drill program at the Key Lake South Property. This program will involve 2,000 metres of drilling to investigate high-grade uranium anomalies discovered in late 2022. Notable findings include 0.93 wt.% U3O8 and 1180 ppm Cobalt from a ‘black soil’ sample and potential additional uranium sources from a ‘radioactive swamp’. The permits are valid until July 31, 2024, and the drilling aims to further explore these anomalies as part of the company’s strategic exploration efforts in the Athabasca Basin.
Traction Uranium Corp. has signed an option agreement with Forum Energy Metals Corp. to acquire up to a 100% interest in the Grease River Property in the Athabasca Basin, Saskatchewan. The agreement is structured in three phases, with the first phase requiring Traction to pay $250,000, issue 1,625,000 shares, and fund $3,000,000 in exploration costs by December 31, 2025, for a 51% stake. The property is strategically located near the Fond du Lac uranium deposit, which has a historical resource estimate of 1 million pounds of uranium. Limited exploration has been conducted, indicating significant potential for further discoveries.
Traction Uranium Corp. (CSE: TRAC, OTC: TRCTF) has announced updates on its Hearty Bay research program focused on uranium exploration. The program examines 85 core samples from 14 drill holes to identify uranium-bearing fluids through radiation-induced defects in quartz. Currently, 60 out of the 85 samples are prepared for further analysis. The collaboration with the University of Saskatchewan utilizes techniques such as cathodoluminescence (CL) imaging and electron paramagnetic resonance (EPR) spectroscopy to enhance exploration efforts in the Athabasca Basin. The findings will inform future exploration targets for the company.
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) has addressed promotional activity concerning its common shares following a request from OTC Markets Group. The promotional efforts began around January 16, 2023, involving third-party marketing firms like Future Money Trends, LLC, among others. The Company clarified that it does not view the promotional materials as misleading and asserts these efforts have heightened investor awareness without causing unusual trading patterns. Traction has utilized several service providers for marketing in the past year, and reiterated its commitment to compliance with promotion policies.
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) has shifted its focus from the Monazite Beneficiation Study to a high-grade uranium anomaly discovered in the Fall 2022 field program at the Key Lake South Project. The company will conduct a Study with the Saskatchewan Research Council (SRC) to identify the optimal beneficiation route for U308 in the 'black soil' anomaly, which reported 0.93 wt.% U308, accompanied by cobalt, nickel, and boron. A Phase 1 Diamond Drilling program targeting uranium anomalies is planned, with 2,000 meters of drilling to collect samples for this Study, further unlocking uranium potential at KLS.
Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) has announced a Winter 2023 drill program at its Key Lake South Project in Saskatchewan, following promising findings of high-grade uranium mineralization, including 0.93 wt.% U3O8 and 1180 ppm Cobalt. The Saskatchewan Ministry of Highways has granted access to a temporary drilling camp from February 1, 2023 to July 31, 2024. The drill program will focus on areas around the “black soil” and “radioactive swamp” anomalies, with 2,000 metres of diamond drilling planned. The project is strategically located near existing uranium mining facilities, enhancing its exploration potential.
Traction Uranium Corp (CSE: TRAC, OTC: TRCTF, FRA: Z1K) announced significant assay results from the Key Lake South (KLS) property, revealing high-grade uranium mineralization within the 'Black Soil' anomaly. The findings include 0.93 wt.% U308, 1180 ppm cobalt, and 625 ppm nickel. This exploration, led by company geologists, suggests a new potential for 'overburden-hosted' uranium deposits. Past findings at Key Lake show historical successes, enhancing the project's credibility. The proximity to existing uranium mills offers logistical advantages for future exploration efforts.
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) has completed Phase 2 of its ground program at the Key Lake South uranium project. The Ground Gravity Survey revealed broad gravity lows coinciding with surface uranium anomalies from Phase 1 and historical surveys, indicating potential uranium mineralization. CEO Lester Esteban emphasized the project's promising potential as the company prepares for diamond drilling. The survey covered 4.15 kilometers with 833 gravity stations, aiming to define drill targets for the upcoming drilling program.
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) has announced a new study at Key Lake South (KLS) to explore Rare Earth Elements (REEs) through a Monazite Beneficiation Study, with support from the Saskatchewan Research Council (SRC) and funding from NRC IRAP. The study will analyze ore samples and assess various beneficiation methods. Historical drillhole KEY005 indicated significant REE potential, averaging 0.544% Total Rare Earth Elements. The study aims to capitalize on this opportunity, coinciding with the company’s focus on uranium exploration.
Traction Uranium Corp. (CSE: TRAC, OTC: TRCTF) has mobilized a field crew to Hearty Bay for a 15-day program aimed at preparing for a significant drilling campaign in 2023. The initiative focuses on the historic high-grade uranium boulders located on Isle Brochet. CEO Lester Esteban emphasized the importance of high-quality data to identify promising drill targets. The program will include scintillometer prospecting, geological sampling, and extending ground EM geophysics to enhance the understanding of the area's geology and potential uranium sources.