Traction Uranium Collars the First Drill Hole of its Hearty Bay Winter Drill Program

Rhea-AI Summary

Traction Uranium Corp. has initiated its 2022 winter drill program at the Hearty Bay Property in the Athabasca Basin, comprising over 1,400 meters of drilling across 12 holes. The drilling targets are informed by a 255 km marine seismic survey conducted in 2019, aimed at identifying key structural features. Additionally, a ground geophysics program will complement the drilling efforts. The project is managed by Fission 3.0, with drilling conducted by Bryson Drilling.

Positive

• Initiation of a 1,400-meter drill program indicates active exploration and potential for significant discoveries.
• Targets based on comprehensive marine seismic and aerial magnetic surveys enhance the likelihood of successful drilling.

Negative

• None.

The work program will comprise of over 1,400 meters of drilling over 12 holes

VANCOUVER, British Columbia, March 21, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FSE: Z1K), is pleased to announce that it has collared the first drill hole of the 2022 winter drill program at the Hearty Bay Property in the Athabasca Basin region. The winter program also includes a ground geophysics program on the property as part of the winter program.

The drill targets are based on marine seismic and airborne magnetic data. A 255km marine seismic survey was conducted by the company in the summer of 2019 to the NE of Isle Brochet in the main up-ice direction of radioactive boulder trains. It was interpreted to indicate multiple basement structural and lithological features which have defined some of the drill targets to the northeast and up ice from where the historic Eldorado drilling was focused. These consist of possible sandstone outliers bounded by basement structural features or are at the intersections of major faults (often with significant vertical and horizontal displacement). Additional drill targets have been defined from the 2,490 line km low-level airborne magnetic and radiometric survey that was flown in 2021. They consist of linear magnetic lows that are interpreted to indicate major faults and they are supported by the marine seismic data. High grade uranium mineralization in the Athabasca Basin is often found along major faults and at fault intersections.

The project is being managed by one of Canada’s leading uranium exploration teams Fission 3.0. Fission 3.0 has contracted Bryson Drilling to conduct the diamond drilling. Traction acquired a 50% interest in the Hearty Bay Project, further details on the agreement can be found by referring to Traction news release dated December 10th, 2021.

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a Qualified Person. Raymond Ashley has an arm’s length relationship with Traction.

About Traction Uranium Corp.

Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the Athabasca Region. This property is located on the north edge of the Athabasca Basin, 20 km west of the Fond-du-Lac Uranium deposit and 60 km east of the Beaver Lodge uranium district. The Property surrounds the historic Isle Brochet radioactive-sandstone boulder trains, 1 km long dispersal trains trending along the main ice direction and containing up to 3% uranium. Approximately 600 m to the northeast several more radioactive boulders of both sandstone and basement origin were discovered. Historic drilling proximal to these boulders did not intersect any significant radioactivity. Drilling only tested the top of the basement lithologies, and did not extend beyond the edge of the mapped Athabasca sediments. The source of the boulders remains undetermined. Strong airborne EM conductors within the property were identified by historic surveys up-ice of the radioactive boulder trains.

We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.

About Fission 3.0 Corp.

Fission 3.0 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of world’s largest high grade uranium discoveries. Fission 3.0 currently has 16 projects in the Athabasca Basin. Several of Fission 3.0’s projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits. Fission 3.0 is currently planning a winter exploration/drill program on its PLN project.

On Behalf of the Board of Directors
Faizaan Lalani
Director

Contact
Phone: 604 425 2271
Email: info@tractionuranium.com

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.

FAQ

What is the purpose of Traction Uranium's winter drill program at Hearty Bay?

The program aims to explore potential uranium mineralization via 1,400 meters of drilling over 12 holes.

What geological data influences the drilling targets for Traction Uranium?

Drilling targets are based on a 255 km marine seismic survey and a 2,490 line km aerial survey conducted in previous years.

Who is managing the Hearty Bay Project for Traction Uranium?

The project is managed by Fission 3.0, one of Canada's leading uranium exploration teams.

What is the significance of the Athabasca Basin for Traction Uranium?

The Athabasca Basin is known for hosting some of the world’s largest high-grade uranium deposits, making it a prime exploration area.

What is the stock symbol for Traction Uranium?

Traction Uranium trades under the stock symbol TRCTF on the OTC market.