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Traction Uranium and UGreenco Energy will begin Phase 1 of their field geology program at their Key Lake South property in Saskatchewan’s Athabasca Basin.Canadian Business Journal

Calgary, Alberta, September 13, 2022 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (“Company” Also “traction“) When UGreenco Energy Corp. (UGreenco) is pleased to announce the commencement of its Phase 1 Field Geology Program, mobilizing the Field Geology team to its Key Lake South property in Canada’s world-famous Athabasca Basin. It is located approximately six kilometers southwest of Cameco’s Key Lake Uranium Plant.

Objective: Define drill targets for the Key Lake South incompatible uranium deposit

An area of ​​approximately 4.15 square kilometers has been targeted for ground exploration for the purpose of investigating surface uranium anomalies from quantitative gamma spectroscopy studies by Ford et al. (2006) and the Athabasca Sandstone (AR 74H04-0013) he mapped in 1973.

Figure 1 Available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8f8ca28e-daf3-451d-ab7e-b2ef4040ef0e

Phase 1: Boulder exploration, mapping and sampling

The boulder survey will focus on two surface anomalies (‘B’ and ‘C’) from Ford et al.’s quantitative gamma spectroscopy investigation. (2006) look for uranium-bearing rocks to compare with those from surface anomaly ‘A’, a ‘hot island’ identified in the early 1970s. Boulder mapping will be applied to the entire area of ​​exploration proposed in 2022 to better define the contours of the 1973-mapped Athabasca Sandstone (AR 74H04-0013). Representative sandstone megaliths are sampled for boron analysis.

Unexplored since the discovery of Key Lake deposits

Anomalous surface uranium anomalies were outlined in the early 1970s and thought to have originated from a northeastern source that led to the discovery of uranium deposits at Lake Key. Advanced aerial geophysical surveys by both government and industry in the 2000s have confirmed this surface uranium anomaly and there Controlled by structures rather than randomly transported by glaciers.

An overview of the Athabasca sandstone remains was outlined in 1973 by a photographic geological study of the surface using follow-up reconnaissance mapping. After applying the hypothesis that the surface anomaly offsets approximately 400 meters north of the orebodies, this was supported by events in the Gartner orebodies (inset). map in Fig. 1), the adjusted locations of the highest uranium contents (A’, B’, and C’) fit perfectly on the edge of the Athabasca sandstone, which was mapped from pebbles by 1973 (Fig. 1). Uranium mineralization preserved under the Athabasca Sandstone.

Figure 2 Available at https://www.globenewswire.com/NewsRoom/AttachmentNg/080a9e91-13dd-4f05-b1d3-dc48f1dd6c68

Lester Esteban, Chief Executive Officer, said: Our team of professional and experienced geologists and researchers were looking forward to starting work as he headed to KLS to complete Phase 1. Immediately after that, our team runs Phase 2.of the long-awaited KLS 2023 drill program

About Traction Uranium Corp.

Traction Uranium Corp. develops mineral exploration and discovery prospects in Canada, including three major uranium projects in the world-famous Athabasca region.

For more information on exploration-phase activities in the Western Canada region, please visit: www.tractionuranium.com.

About the property

The Key Lake South Uranium Project is located approximately 6 kilometers southwest of the Key Lake Uranium Plant, close to modern uranium mining facilities and highway transportation in northern Saskatchewan. Geologically, it sits on the southeastern edge of the Proterozoic Athabasca Basin and is home to some of the world’s largest and finest uranium deposits and operations. Recent discoveries of the Triple R and Arrow deposits indicate further potential for high-grade uranium at the edge of the basin.

qualified person

The technical content of this news release has been reviewed and approved by Linglin Chu, M.Sc., P. Geo., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects . This information indicates potential exploration of the property, but may not represent the expected results.

On behalf of the Board of Directors

Lester Esteban
Chief executive officer
+1 (604) 561 2687
[email protected]

Forward-Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties, including those relating to companies completing Phase 1 and Phase 2, acquisition of interest in assets, timing of cash payments, share issuance and spending requirements. is included. , and development of the Property. The Company provides forward-looking statements for the purpose of conveying information about its current expectations and plans for the future, and readers are cautioned that such statements may not be suitable for other purposes. please. By its nature, this information is subject to inherent risks and uncertainties, either general or specific, and gives rise to the possibility that expectations, projections, projections, projections or conclusions may not prove to be accurate. It may be incorrect and its objectives, strategic goals and priorities will not be met. These risks and uncertainties include, but are not limited to, those identified and reported in our public filings under our SEDAR profile on www.sedar.com. Although we have attempted to identify important factors that could cause our actual actions, events or results to differ materially from those set forth in the forward-looking information, the actions, events or results that do not There may be other factors that cause be as expected, estimated or intended; There can be no assurance that such information will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. We disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

CSE neither endorses nor disapproves of the information contained herein.

CBJ Newsmaker

Traction Uranium and UGreenco Energy will begin Phase 1 of their field geology program at their Key Lake South property in Saskatchewan’s Athabasca Basin.Canadian Business Journal

Source link Traction Uranium and UGreenco Energy will begin Phase 1 of their field geology program at their Key Lake South property in Saskatchewan’s Athabasca Basin.Canadian Business Journal

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