October 14, 2021 – Vancouver, B.C. – Traction Exploration Inc. (CSE:TRAC) (“Traction” or the “Company”) is pleased to announce the completion of the Phase 1 exploration program at its Whitewater property located in the Slocan Mining Division, Kaslo, British Columbia (the “Property”). Phase 1 involved detailed mapping, prospecting and sampling work in the South and North Claim Blocks on the Property. A ground magnetic and very low frequency (VLF) electromagnetic geophysical survey was also completed at 50 m line spacing in a portion of the South Claim Block.
The prospecting and sampling work in the South Claim Block explored the north-eastern and southwestern portions of claim 1078135 as a follow up to findings of higher gold and silver values shown in quartz veins and quartz boulders/floats in the area. The Phase 1 scope of work also contained the exploration of the north-eastern portion of claim 1078152 at the contact of Slocan Group Phyllites and Kaslo Group Lower Plate mafic rocks. An earlier sample from the claim area taken from a series of quartz floats assayed 5.09 ppm silver and required further prospecting. Other claims of the South Block were also prospected during the work program.
The exploration of the North Claim Block surveyed part of claim 1077955 where earlier samples had shown silver values in the range of 0.94 ppm – 1.94 ppm, the whole area required prospecting and mapping. The work program also included detailed prospecting and mapping of Minfile occurrences within claims 1075878 and 1076510, and other prospective areas on the North Block.
A total of 151 channel cut, and grab rock samples were collected during this work program. The samples were bagged and tagged using best practices and delivered to ALS Metallurgy laboratories located at 2957 Bowers Place, Kamloops, British Columbia, V1S 1W5. ALS Laboratories is an independent group of laboratories accredited under ISO/IEC 17025:2017 standards for specific registered tests. ALS analytical packages picked for sample preparation and analysis are: Au ICP 21 (Gold by fire assay) and ICP AES; and MEMS 61 (Four Acid Digestion with ICP-MS Finish). The results of Phase 1 are expected are expected in 2- 3 weeks and will be used to determine the scope of further work on the Property.
The Phase 1 work was completed within the estimated budget and the Company is looking forward to the results from the exploration.
Afzaal Pirzada, P.Geo., a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About the Company
Traction is a mineral exploration company with an objective to locate and develop economic mineral properties. The Company is based in Vancouver, BC and holds an option in the Whitewater Property located in the Slocan Mining Division, Kaslo, British Columbia.
For more information, investors should review the Company’s filings that are available at www.sedar.com.
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are forward-looking statements, including statements respecting the expected timing of results from the Phase 1 work program. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved the contents of this press release.
Director and CEO
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