Traction Uranium Intersects Additional Near Surface Anomalous Radioactivity along with Intense Alteration and Graphite in the Basement Rocks at Key Lake South
Traction Uranium Intersects Additional Near Surface Anomalous
Radioactivity along with Intense Alteration and Graphite in the
Basement Rocks at Key Lake South
Radioactive Swamp diamond drill hole KLS23-002 encountered radioactivity >1000 cps on surface at
the drill collar; diamond drill hole KLS23-001 encounters well developed alteration in basement rocks
typical of Athabasca-style basement-hosted uranium mineralization
April 5th, 2023
(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the
“Company” or “Traction”) is pleased to provide the following diamond drill hole (“DDH”) updates on
the diamond drill program at the Company’s Key Lake South Property (the “KLS Property”) in northern
Saskatchewan’s Athabasca Basin.
DDH Highlights:
• DDH KLS23 -001: intersected intensive alteration, bleaching, and hematization in basement
rocks (see Figure 1)
• DDH KLS23-002: natural gamma radiation with 1016 cps was detected at the drill collar using
a handheld Radiation Solutions RS-125 scintillometer (see Figure 2)
• DDH KLS23 -002A: intersected epidote and hematite, which are alteration minerals used to
vector in on prospective uranium mineralization (see Figures 3 & 4)
• DDH KLS23 -007: down-hole gamma ray probing intersected 2 zones of anomalou s
radioactivity: Zone 1; 6 metres (1.6 m to 7.6m) within overburden, with values up to 1,254 cps;
and Zone 2; 52 metres (31 m to 83 m) within basement rocks, returning values up to 474 cps,
associated with epidote, chlorite and hematite alteration (see Figure 5)
• DDH KLS23-008: intersected sheeted graphitic fractures in metasandstones towards the base of
the DDH (see Figures 6-8)
• DDH KLS23 -009: downhole probing detected an approximately 69 -centimetre interval of
anomalous radioactivity within overburden, e xtending from 0.023 metres to 0.716 metres with
values ranging from 121 to 236 cps
Lester Esteban, Chief Executive Officer of the Company, stated, “We are extremely excited and
impressed by our first diamond drill program at our KLS Property. We are seeing all the right stuff in the
basement rocks that are ticking all the right boxes for basement -hosted mineralization. However, the
shallow, near-surface overburden anomaly in KLS23 -007 is stealing the show with a 6 -metre zone of
significant radioactivi ty with values up to 1,254 cps measured by downhole probing. Notably, the
overburden is measured with the probe inside the diamond drill steel casing which may be subduing the
cps readings. The down -hole probe results from KLS23 -009, which targeted overbur den beneath the
“black soil”* anomaly discovered by our team in 2022 and assaying 0.93 wt.% U308**, returned readings
up to 235 cps. In comparison, DDH KLS23 -007, located about 1.0 km from the black soil anomaly,
returned values up to 1,254 cps from a sign ificantly wider interval within overburden, rendering this as
a compelling target for follow-up exploration.”
* See Traction news release dated September 27th, 2022
** See Traction news release dated November 14th, 2022
The diamond drilling was completed on March 26, 2023, with logging and sampling expected to be
completed by April 3rd. The geological team at Aurora Geosciences Ltd. will deliver the samples to the
Saskatchewan Research Council for geochemical analysis following completion of the Winter 2023 Key
Lake South Phase 1 drill program.
Carl Schulze, Senior Project manager with Aurora Geosciences Ltd. of Whitehorse, Yukon, states:
“Recent core logging has identified several other zones of strong chlorite -epidote alteration, similar to
the anomalous zone in DDH KLS23 -007, within holes KLS23 -005, 008 and 010. This indicates the
alteration system occurs at multiple sites within the KLS Property. Of particular interest is a zone of
similar alteration in the contact area between basement orth ogneiss and underlying basement
metasediments hosting graphitic fractures in DDH KLS23-008.”
Figure 1: DDH KLS23-001
Figure 2: DDH KLS23-002
Figure 3: DDH KLS23-002A (40.7m) Veined Redox Boundary
Figure 4: DDH KLS23-002A (57.75m depth) Clay-Epidote Zone
Figure 5: DDH KLS23-007, Core from Anomalous Zone (47.37 - 64.57m)
Figure 6: DDH KLS23-008 (146.4m depth). Hematitic breccia
Figure 7: DDH KLS23-008 (160.2 m depth): Quartz-garnet zone
Figure 8: DDH KLS23-008 (154.4m depth): Banded chlorite, garnet
Table 1: Drill collar data, KLS 2023 Program
Hole ID Easting Northing Azimuth Dip EOH
(m)
KLS23-001 456672 6333542 270 60 197
KLS23-002 456640 6333973 Vertical 90 63
KLS23-002A 456640 6333973 270 60 183
KLS23-003 456541 6334206 270 60 180
KLS23-004 456579 6334472 270 70 153
KLS23-005 456429 6334793 90 70 159
KLS23-006 455846 6334912 270 60 150
KLS23-007 455527 6334887 250 70 150
KLS23-008 455421 6334664 270 70 162
KLS23-009 455727 6333852 Vertical 90 150
KLS23-010 456001 6334119 90 70 141
KLS23-011 455629 6333484 200 70 150
Total 1838
NOTES:
Cps* = “counts-per-second”, as measured with a downhole probe. The reader is cautioned that the Company uses downhole probe readings
as a preliminary indication of the presence of radioactive materials (uranium, thorium and/or potassium), and that downhole probe results
may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.
The Company considers all downhole probe readings greater than 100 cps to be considered “elevated radioactivity”, with background
radioactivity measuring between 50 to 100 cps.
All reported drill hole intervals are drill core lengths and do not represent thickness which have yet to be determined.
About the Property
The KLS Property 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 of the Proterozoic Athabasca Basin..
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of uranium discovery
prospects in Canada, including its three uranium projects in the world-renowned Athabasca Region.
We invite you to find out more about our explorati on-stage activities across Canada’s Western region at
www.tractionuranium.com.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Carl Schulze,
P. Geo., who is a “Qualified Person” as defined by National Instrument 43 -101, Standards of Disclosure
for Mineral Projects and is a Professional Geoscientist in good standing with APEGBC, APGO and
NAPEG and Senior Project Manager at Aurora Geosciences Ltd.. Mr. Schulze verified the data disclosed
in this news release, including the sampling, analytical, and test data underlying such data. Mr. Schulze was
physically present during data collection and examined a significant po rtion of direct data obtained via
hand-held probes, and was able to verify the data accordingly. No limitations were imposed upon the data
verification process. The quality assurance / quality control program in relation to data collection and
analysis consisted of viewing the data from the “down” and “up” result and employing quality control
measures comprised of careful geotechnical logging of all holes, including layout of 1.0 -metre intervals,
photographing the core and obtaining duplicate samples at a rate of 1 per 25 total samples in the sample
stream. It is noted that the information herein provides an indication of the exploration potential of the KLS
Property but may not be representative of actual results.
On Behalf of The Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
Forward-Looking Statements
This news release includes forward -looking statements that are subject to risks and uncertainties,
including with respect to potential uranium mineralization and potential future project economics. The
Company provides forward-looking statements for the purpose of conveying information about current
expectations and plans relating to the future and readers are cautioned that such statements may not be
appropriate for other purposes. B y its nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise to the possibility that expectations,
forecasts, predictions, projections, or conclusions will not prove to be accurate, t hat assumptions may
not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and
uncertainties include risks that potential uranium mineralization or future project economics will be less
than believed, or none at all and those risks identified and reported in the Company’s public filings under
the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual actions, events, or results to differ materially from those
described in forward-looking information, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no assurance that such information will
prove to be accurate as actual results and future events could differ materially from those anticipated in
such statements. The Company disclaims any intention or obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise unless required
by law.
The CSE has neither approved nor disapproved the information contained herein.