Right Place, Right Time: Traction Uranium is Primed for Success in the Athabasca

Source: Economic Journal Mag

The road to clean nuclear energy runs through the Athabasca. Traction Uranium (TRAC) is boldly blazing the trail forward. On the brink of high-grade yields, Traction is ready to meet the rising demand for uranium.

10 of the world’s 15 highest-grade uranium sites lie within Saskatchewan’s Athabasca Basin. As nuclear energy emerges as the energy of the future, the riches of this uranium breadbasket grow in demand. Traction Uranium (TRAC) – the exploration company led by chemical and mining vet Lester Esteban – holds two major stakes in the Athabasca. Traction is on the move to meet the rising demand for uranium.

The Athabasca’s uranium reservoirs, first discovered in the 1940s, boast off-the-charts quality. After 60 years of active mining, this source accounts for over 15.5% of the earth’s uranium – and counting. With global demand skyrocketing and Saskatchewan, a historically mining-friendly province, looking to bounce back its economy from the pandemic – uranium exploration in the Athabasca is just getting started.

Access to uranium is the holy grail in a world seeking the clean and reliable energy of nuclear. With ownership of Hearty Bay in the north and Lazy Edward Bay in the south, Traction is a key mover in the exploration of the Athabasca. With 2% average grades, the uranium within the Athabasca is twenty times higher-grade than the world average. As a publicly traded company, Traction is a great opportunity for investors seeking high potential within the uranium market.

Beyond the promise of high-grade yields, the Athabasca is logistically accommodating to Traction’s efforts. The area, highlighted as a world leading deposit of uranium, is zoned to drill and has the infrastructure to boot – built up as a mining hotspot for the better part of a century.

Traction’s two projects are well underway with a 1,300m drilling program recently completed in April at their Hearty Bay property where they punched 14 holes. At the moment, 429 drill core samples collected from Hearty Bay are being analysed by the Saskatchewan Research Council (SRC), which will then provide Traction the geochemical analysis results to assist in vectoring in on new targets for 2023’s winter drill program. This timeline will allow the company to hit the ground running come January and February when the ice roads open.

In Lazy Edward Bay, Traction enjoys a site that is drill ready with targets begging to be drilled. Exploration in this area was already carried out – and shelved – prior to uranium’s lapse following the Fukushima nuclear disaster in 2011. Now, with safer nuclear technology than ever before, uranium back in the limelight, and a foresighted company set to move forward, Lazy Edward Bay is back in business. Picking up where the work was left, Traction will be drilling in the area come mid-May, where there is high potential for a near surface, high-grade uranium discovery.

Traction brought in Lester Esteban as their new CEO in March. Esteban speaks with passion and knowledge about the complexities of uranium exploration and brings the sales acumen to do business on a grand scale. With a fresh set of eyes at the helm, a concrete plan, a big vision, and an industry no longer fettered by the stall of Covid-19, Traction is fixed for success in the post-pandemic uranium market.

The progress Traction has made is well timed. At the moment, nuclear energy (fueled by uranium) represents 10% of the world’s energy grid – powered by 440 reactors. Over 50 new reactors are currently under construction – the production of nuclear energy is rising at an unprecedented pace. With investment going to the reactor side of nuclear energy, the bull moves next to the uranium market, set to see incredible demand through 2022 and beyond.

This sudden growth in the nuclear space is driven by change and uncertainty on the global stage. Since 2015’s Paris Climate Accord, nuclear has gained favour as a clean energy alternative to fossil fuels – one that far outpaces renewables in a world that needs constant access to electricity. As the war in Ukraine carries on, Putin has found Europe’s reliance on Russia’s natural gas to be a point of leverage that will no doubt be further exploited through the summer. As Moscow cuts off Poland’s access to Russian gas – making up 11% of the country’s power supply – nuclear is the clear candidate to fill in the void.

The market is rallying to answer this call for nuclear energy. The technology on the reactor side has made huge strides when it comes to cooling, and the bar for safety standards at the world’s largest plants continues to rise. With Traction Uranium amongst others on the frontier of uranium exploration – new supply will be unlocked to meet the demands of these many reactors.

The way forward runs through the Athabasca Basin and Traction Uranium’s exploration efforts have charted a clear course. The promise of their Hearty Bay and Lazy Edward Bay projects grow by the day, as the world outside the Athabasca drives the need for uranium.

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