(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that it has engaged Aurora Geosciences Ltd. (“Aurora”) to complete a Technical Report in accordance with National Instrument 43-101on the Key Lake South Property (“KLS Property”).
Aurora Geosciences was built on the premise of high quality mineral exploration, enabling discovery. Founded in 2000 as a merger of existing high-quality exploration firms, 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 provided geological services to complete the recent 2023 drill program at KLS and was responsible for managing the drilling component of the program.
Lester Esteban, Chief Executive Officer, states: “We are pleased with the work and commitment Aurora Geosciences contributed towards completing our winter 2023 KLS program, and are excited by the alteration assemblages typical of basement-hosted uranium mineralization in several drill holes. Follow-up on the 6-metre zone of radioactivity discovered in overburden within hole KLS23-007 with a soil/till sampling program, and development of a diamond drill program to test the 52-metre zone of basement-hosted radioactivity in KLS23-007 (see Traction News Release dated March 29th, 2023) are top priorities for our team. Partnering with Aurora to prepare a NI 43-101 Technical Report puts us on the right track in advancing our KLS Project, and enhances our commitment to exploring the potential for overburden-hosted uranium mineralization.”
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 all-weather highway transportation in northern Saskatchewan. Geologically, it sits at the southeastern edge of the Proterozoic Athabasca Basin. Recent discoveries of the Triple R and Arrow deposits have demonstrated further potential for high-grade uranium prospects along 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 exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
The technical content of this news release has been reviewed and approved by Ken Wheatley, M.Sc, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The information provides an indication of the exploration potential of the Company’s properties but may not be representative of expected results.
On Behalf of The Board of Directors
Chief Executive Officer
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This news release includes forward-looking statements that are subject to risks and uncertainties. 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 its 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 those risks identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. 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.
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