Traction will be conducting a gravity survey on Hearty Bay prior to diamond drilling to maximize targets for this winter’s program.
Technical Details of Program:
- The gravity survey will cover approximately 16 square km with stations spaced at 100m, the grid located north and east of the two boulder trains. The survey is being conducted by
MWH Geo-Surveys Ltd. and should take approximately 1 month to complete. Any gravity lows defined by the survey, in conjunction with EM conductors, magnetic lows and faults / structures will be considered as targets for the follow-up drill program. - Once the gravity survey has been completed and interpreted, and the ice thickness of
Lake Athabasca is thick enough, a drill program will be initiated to test the targets mentioned above, and will also investigate the contact of the northern extent of theAthabasca Basin sandstone with the underlying basement rocks.
Traction acquired a 50% interest in the
The work program’s aim is to discover the source of high-grade uranium boulder trains on Isle Brochet.
Location Map of the Radioactive Boulder Trains. The green line shows the extent of the gravity survey, the parallel red lines will be drill fences to be completed along with any targets generated by the survey.
The Company also announces that it has terminated its option to earn up to a 75% interest in the Key Lake South Project pursuant to the terms of the option agreement (the “Option Agreement”) with
For additional information regarding the scientific and technical information contained in this press release, including the Company’s data verification, collection and compilation information and QA/QC procedures, please refer to the technical report titled NI 43-101 Technical Report - Report On 2023 Diamond Drilling Program,
Qualified Person
The technical content of this news release has been reviewed and approved by
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We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
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Chief Executive Officer
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info@tractionuranium.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward-looking statements. This press release contains forward-looking statements concerning the completion of the gravity survey, the identification of targets for any follow-up drill program and the initiation of a drill program. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks, many of which are beyond the Company’s ability to control or predict. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, conditions in the equity financing markets, conditions at the
Management has provided the above summary of risks and assumptions related to forward-looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce5a4000-a67c-4010-9561-3c34894309ce
Location Map of the Radioactive Boulder Trains
Location Map of the Radioactive Boulder Trains
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