Traction Uranium prepares team for mobilization to commence Phase 1 diamond drill program at Key Lake South Property
Traction Uranium prepares team for mobilization to commence
Phase 1 diamond drill program at Key Lake South Property
Winter 2023 KLS Drill Program to follow up on “Radioactive Black Soil” that
Assayed High Grade Uranium Mineralization (0.93 wt.% U3O8 and 1180 ppm
Cobalt) and a “Radioactive Swamp” Discovered in Fall of 2022
February 28th, 2023
(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the
“Company” or “ Traction”) is pleased to announce that, along with UGreenco Energy Corp., it has
engaged (i) JP Enterprises Inc. (“JP Enterprises”) (ii) Full Force Diamond Drilling Ltd. (“Full Force”)
(iii) Aurora Geosciences Ltd. (“Aurora”) (collectively, the “Contractors”) for the company’s upcoming
winter 2023, 2,000 metre diamond drill program at the Key Lake South Property (“ KLS Property”),
such contractors to plan for mobilization for the first week of March, 2023.
JP Enterprises has been providing camps and support for compa nies conducting mineral exploration for
over 20 years. It is owned by Jonathan Proulx, who is a member of the Lac La Ronge Indian Band. J P
Enterprises is proud to provide permanent full -time employment for several Lac La Ronge Indian Band
members. Over 90% of their workforce are Aboriginal People. Many of them have worked in these camps
their entire careers. They understand the amount of hard work that needs to be done and that timelines need
to be met.
Full Force is a diamond drilling company operating across Canada and the USA with a fleet of helicopter
portable, skid mounted and track mounted drills. They have an experienced crew who hav e worked with
our uranium exploration peers in the Athabasca Basin and is devoted to offering exceptional service from
start to finish. Full Force is COR certified and is committed to maintaining healthy and safe worksites while
minimizing their environmental impact. Strict policies and daily hazard assessments are in place to ensure
the health and safety of employees and contractors.
Aurora Geosciences was built on mineral discovery, founded in 1981 the company is focused on delivering
excellence in mineral exploration ; conceiving and applying new exploration models and adapting new
geophysical technology to meet the trials of working in challenging conditions . As an independent
contractor, Aurora will provide geological services to support the 2023 drill program at KLS and be
responsible for managing the drilling component of the program.
Lester Esteban, Chief Executive Officer, stated “ with temporary work camp and drill permit in hand , our
team is looking forward to working with JP, Full Force and Aurora to unlock the uranium potential at KLS.
Lots of work has been put in to planning and designing a comprehensive drill package to test for a n
unconformity hosted uranium deposit and drilling below the black soil and radioactive swamp. As the
program commences, we encourage readers to follow our progress by signing up for our news alerts and
following us on social media to stay up to date on our upcoming 2023 KLS winter Phase 1 diamond drill
program.”
Figure 1. Snow clearing efforts begin, crew working on path to gravel pit at Key Lake South Project
About the Upcoming KLS Drill Program:
Phase 1 diamond drilling is planned with 2,000 metres, targeting areas with extreme surface uranium
anomalies, including the “black soil” anomaly (see Figure 2), the “radioactive swamp” and the “Athabasca
Sandstone” mapped in 1973 ( referenced from Assessment Report # 74H04-001, (SMAD) Saskatchewan
Mineral Assessment Database). Most of the drill targets are situated at the edge of the broad gravity -lows
identified in the ground gravity survey of 2022.
About the “Black Soil” and “Radioactive Swamp”:
The previously unknown radioactive anomalies discovered by Traction’s exploration team during the
ground program of 2022 (see news release dated September 27, 2022) were the “radioactive swamp” and
“black soil”. Sampling of the “black soil”, where the horizon had an observed thickness of approximately
30 centimetres, returned 0.93 wt.% U308, 1180 ppm Cobalt, 625 ppm Nickel and 196 ppm Boron (see news
release dated November 14, 2022). Further sampling is required, the “radioactive swamp” is accessible in
the winter when the swamp is frozen and may host uranium anomalies that may be similar to the “black
soil”. An ov erburden drilling program is being considered to test for uranium mineralization near the
surface in the overburden/till.
Figure 2. Location of the “Black Soil” surface radioactive anomaly within the greater surface uranium anomaly. The background
shows ground concentration of uranium from the airborne gamma-ray spectrometry survey (Ford et al., 2006*).
*Ford, K.L., Carson, J.M., Coyle , M.,Delaney, G., and Shives , R.B.K. 2006: Geophysical Series – NTS 74H/4 – Zimmer Lake,
Saskatchewan; Geological Survey of Canada, Open File 5038, Saskatchewan Industry and Resources , Open File 2006 -12, scale
1:50 000.
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. Recent
discovery of Triple R and Arrow deposits has demonstrated further potential of high-grade uranium at the
edge of the 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 Linglin Chu,
M.Sc., P. Geo., who is a “Qualified Person” as defined by National Instrument 43 -101, Standards of
Disclosure for Mineral Projects, and is a director of the Company and Chief Executive Officer of UGreenco
Energy Corp. The information provides an indication of the exploration potential of the KLS 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
This news release includes forward -looking statements that are subject to risks and uncertainties,
including with respect to the Company’s phase 1 diamond drilling program and required sampling. 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. By it s 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, that assumptions may
not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and
uncertainties include risks that the phase 1 diamond drilling program and required sampling will not be
completed as contemplated, or at all, risks that the phase 1 diamond drilling program and required
sampling may not yield the types of information anticipated, and those risks identified and reported in
the Company’s public filings under the Company’s SEDAR profile at www.sedar.c om. 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.