Traction Uranium Analytical Results from Key Lake South “Black Soil” Sample Confirm High Grade Uranium Mineralization Found in Near-Surface Overburden
Traction Uranium Analytical Results from Key Lake South “Black
Soil” Sample Confirm High Grade Uranium Mineralization Found
In Near-Surface Overburden
The “Black Soil” radioactive anomaly hosted in the overburden returned 0.93
wt.% U308, 1180 ppm Cobalt, 625 ppm Nickel and 196 ppm Boron
November 14th, 2022
(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the
“Company” or “ Traction”) and Ugreenco Energy Corp . have received assay results from the SRC
Geoanalytical Laboratories for till samples from the recently completed Phase 1 ground program at their
Key Lake South (KLS) property (please refer to Traction’s news release dated September 27th, 2022) and
are pleased to announce samples derived from the radioactive “Black Soil” contained high grade uranium
mineralization along with high levels of cobalt, nickel and other pathfinder elements in the near surface
overburden.
Table 1: SRC Geoanalytical Lab ICP MS Total Digestion* Results:
Sample Number Co (ppm) Ni (ppm) Th (ppm) U (ppm) Yb (ppm)
DCB01/BSL18 17.1 95.5 51.8 129 2.02
KLS_CHZ 2.97 14.7 3.79 146 0.47
KLS_BHZ 1180 625 49.2 7770 12.6
KLS_YHZ 2.31 10.4 3.91 36.3 0.37
KLS_YHZ R 2.29 9.9 3.82 36.1 0.36
*Total Digestion: A 0.125 g pulp is gently heated in a mixture of ultrapure HF/HNO3/HCl04 until dry and the residue
dissolved in dilute ultrapure HNO3.
• Column Header: Co (Cobalt), Ni (Nickel), Th (Thorium), U (Uranium), Yb (Ytterbium)
• The standard is DCB01
• KLS_BHZ is the KLS “Black Soil”
The “Black Soil” anomaly was discovered by the Company’s research geologists (Dr. Reza Deevsalar and
Ayetullah Tunc) from the University of Saskatchewan’s Quartz Degradation Program under Dr. Yuanming
Pan and was encountered within the giant surface uranium anomaly (GSUA) in an area of approximately
10 square kilometers (see Figure 1). The “Black Soil” anomaly was observed with thickness varying from
a few centimetres up to 30 centimetres at several spots within the near surface overburden while conducting
ground exploration in the fall of 2022 (see Photo 1).
Previous Historical “Radioactive Soil” Encounter at Key Lake
A similar radiometric anomaly was discovered close to the north shoreline of Seashorse Lake by Uranerz
in the early 1970’s. Soil samples of the anomalous area assayed up to 1% U3O8. The soil anomaly found
and analyzed was discovered above the Gaertner ore body making up what is now known as Cameco’s Key
Lake Deposits producing a total of 209.8 million pounds of uranium with an average grade of 2.32% from
1983 to 2002.
The Key Lake site included two ore bodies, Gaertner and Deilmann, discovered in 1975 and 1976.
Mining was conducted between 1983 and 1997. Milling began in 1983 and continues today (excerpt from
Canadian Nuclear Safety Commission). The company’s KLS Project is located approximately 5 km from
the Key Lake Mill which has been recently restarted by Cameco.
Table 2: SRC Geoanalytical Lab U3O8 Assay by ICP* in wt.% (U3O8).
Sample Number U3O8 wt. %
BL4A 0.149
KLS_CHZ 0.017
KLS_BHZ 0.931
KLS_YHZ 0.005
KLS_YHZ R 0.005
* Uranium Assay: A. 1.00 g pulp is digested with 16 ml of 3:1 HCl:HNO3 for half an hour at 95 ̊C.
• The standard is BL4A.
• KLS_BHZ is the KLS “Black Soil”
Linglin Chu, M.Sc, P.Geo and Company QP stated, “ If volume is promising, t he extremely high
concentration of uranium and cobalt in the “Black Soil” found within overburden will open up a new
exploration concept as “overburden-hosted” uranium mineralization at KLS. Further work is required to
determine volume and extent of the occurrence at shallow depth, however the proximity of the project to
Cameco’s Key Lake Mill is advantageous in mining and milling compared to unconformity -hosted or
basement-hosted uranium deposit s typically found in the Athabasca Basin. To unearth the potential,
different drilling methods will need to be e mployed such as auger drilling and reverse circulation (RC)
drilling at the location of the “Black Soil ” and surrounding GSUA within KLS to determine the extent of
the “overburden-hosted” uranium and cobalt mineralization.”
The “Black Soil” anomaly, together with other uranium anomalies, coincides with broad gravity lows from
the Ground Gravity Survey (please refer to Traction’s news release dated November 1 st, 2022) completed
in Phase 2 of the Fall KLS Field Program.
Further analysis is currently being conducted on the “Black Soil”, the results from KLS Phase 1 and 2 field
programs paired with the Geochemical Analysis Results have generated high priority drill targets for the
upcoming 2023 winter diamond drill program.
Lester Esteban, Chief Executive Officer, stated “Our exploration team has been anxiously awaiting the
geochemical results from the radioactive “black soil” sample since encountering it during our Phase 1
field program at KLS. What makes the SRC results exciting is this is not the first-time radioactive soil has
been discovered at Key Lake. It was first encountered in the early 70’s sitting on top of one of the first
deposits to make up the Key Lake discovery – fast forward to 2022 and we are following the same
narrative 50 years later by encountering the radioactive soil once again to generate high priority drill
targets for our upcoming winter diamond drill program. In addition, having uranium mineralization in the
till, within the over-burden, at near surface presents a compelling blue-sky opportunity to pursue as our
team explores the potential for an “overburden-hosted” uranium mineralization that also contains cobalt,
nickel and various rare earth elements (REE) mineralization uncovered in the analysis results which
further solidifies KLS as our flagship project in the Athabasca Basin.”
Figure 1. Location of the “Black Soil” surface radioactive anomaly within GSUA. The background
shows ground concentration of uranium from the airborne gamma-ray spectrometry survey (Ford et
al., 2006).
Photo 1. The “Black Soil” radioactive anomaly. Dimension of the Geiger Counter is 15 cm by 7.8 cm.
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of discovery
prospects in Canada, including its three exciting uranium projects in the world-renowned Athabasca
Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at
www.tractionuranium.com.
About the Property
The Key Lake South Uranium Project is located approximately 6 kilometers to the southwest of the Key
Lake uranium mill and in close vicinity to modern uranium mining facilities and highway transportation
in northern Saskatchewan. Geologically, it sits at the southeastern edge o f the Proterozoic Athabasca
Basin – home of the world’s largest and highest-grade uranium deposits and operations. Recent discovery
of Triple R and Arrow deposits has demonstrated further potential of 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.,
who is a Qualified Person as defined by National Instrument 43 -101, Standards of Disclosure for Mineral
Projects. The information provides an indication of the exploration potential of the Property but may not
be representative of expected results.
On Behalf of The Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
Forward-Looking Statements
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including with respect to the Company completing phase 1 and phase 2 ,the Company acquiring any
interest in the Property ,timing of cash payments ,share issuances and expenditure requirements ,and
development of the Property. The Company provides forward- looking statements for the purpose of
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