Source: Technology Journal
Here’s How Uranium Exploration Is Helping This Company Fight Against Climate Change
Under the leadership of an experienced CEO, Traction Uranium is pursuing two lucrative mining opportunities in the Athabasca Region in Saskatchewan, Canada with the goal of creating a sustainable energy future.
Greenhouse gas emissions are on the rise across the world, and a proven solution is desperately needed. In December 2015, 196 Parties committed to reducing their greenhouse gas emissions and working together to limit the impacts of global warming by signing The Paris Agreement. However, world leaders and governments have proven time and time again that they will not be the ones to guide our nations towards a sustainable future.
In 2019, Canada reported 730 megatonnes of carbon dioxide emissions, which represents a 0.2% increase from 2018, and annual greenhouse gas emissions are even more staggering, illustrating an increase of 40% over the past 30 years. The power to employ change is instead in the hands of individuals and businesses, and Traction Uranium is set to make a positive and lasting impact. As a publicly-traded company, Traction is a good ticket for investors seeking a part in this change.
While working in the chemical and industrial markets, CEO of the company Lester Esteban witnessed a resurgence in the Uranium exploration industry, and it fueled a drive in him to be a part of it. “If you are going to have the electrification of vehicles, you will also need the electrification of your mindset,” Esteban says. “We need electricity 24/7, so I think it’s necessary for it to be sustainable,” he adds.
Esteban has been in the mining industry for over 15 years and believes that Uranium will play an integral role in fueling the planet’s green energy future. When Uranium atoms are split, it creates nuclear heat, and a nuclear power plant uses far less fuel than a comparable fossil fuel plant does. A rough estimate is that it takes 17,000 kg of coal to produce the same amount of electricity as 1 kg of nuclear uranium.
With that in mind, Esteban developed a strategy that would allow Traction Uranium to generate and acquire early-stage exploration opportunities and advance them towards development. The company is currently in pursuit of two flagship projects in the Athabasca region of Saskatchewan, Canada, which has been ranked as the second-best jurisdiction in the world for mining investment in 2018.
Esteban shares that the average Uranium purity in the area is the highest you can find anywhere in the world. “The average purity rate is 2% in the Athabasca region, but if you go to other jurisdictions around the world, you’re only getting about 0.1% to 0.2%%,” he explains.
Traction Uranium’s current projects are stationed at Hearty Bay and Lazy Edward Bay. The Hearty Bay Project is located on the northwest side of the Athabasca Basin in the Beaverlodge / Uranium City district and comprises 6 mineral claims covering approximately 10,604 hectares of land. The Lazy Edward Project is located in the south-eastern margin of the Athabasca Basin, halfway between the historic Key Lake Mine and Cameco’s Centennial deposit. It comprises 11 mineral claims, covering approximately 1,828 hectares of land.
Esteban shares that the Lazy Edward BayProject is ready to be advanced to the next stage of exploration, which involves conducting a drilling program. “I have confidence that we have identified strong targets to drill and explore,” he says. The drill targets are shallow, less than 150m deep, yet allude to a high possibility of discovery.
The Athabasca Basin was discovered in the 1940s and is responsible for 20% of the world’s Uranium production. This means that not only are there ample opportunities for discovery, the area boasts over 60 years of mining exploration, with the development and infrastructure in place to support new projects. “Saskatchewan is where the market is,” Esteban says. “It’s a safe jurisdiction to invest in terms of mining exploration for Uranium,” he adds.
In addition to working to provide a sustainable solution to the earth’s energy problem, Traction Uranium also strives to make a positive impact on local communities. “We have a lot of these local connections and uranium expertise in Saskatchewan, and we believe in maintaining them,” Esteban shares. He says that the company regularly converses with local Indigenous communities, uses local contractors, and also employs local drillers.
“Traction Uranium is focused on the ground delivering on our exploration programs and maintaining local connections,” he says. “We have a great exploration team, and we have amazing properties in the Athabasca Basin. We are connected, and I am excited about what we’re going to be doing in the future,” he says.