(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that it will undertake a study of the Monazite hosted Rare Earth Elements (REE’s) at Key Lake South (KLS) through a “Monazite Beneficiation Study” to be conducted by the Saskatchewan Research Council (SRC).
The main purpose of the testing to be conducted by SRC is to determine the most efficient beneficiation route for the concentration of the monazite ore. SRC’s services are being supported in part through funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
The testing Program will include the following Scope of Work:
- Chemical analysis and characterization of the as-received feed ore sample, including ICP (Inductively Coupled Plasma) Spectroscopy
- Comminution of the as-received feed ore sample, including sample preparation, particle size distribution and heavy liquid separation
- Preliminary beneficiation tests comprising of Gravity, Magnetic Separation, and Flotation
Key Lake South (KLS) and REE Showing from Historical Drillhole KEY005:
Historical drillhole KEY005 is located within an oval shaped magnetic moderate (see Figure 2) which had intersected abundant pegmatites, with a section of 10.7 meters was assayed for rare earth elements at SRC returning an average grade of 0.544% Total Rare Earth Elements (TREE), including 0.2 meter sections with up to 7.611% TREE. A QEMSCAN Analysis was conducted on the sample 011-0185 at SRC and confirmed “the only observed host for REEs is monazite”.
Figure 1. Satellite image showing location of the drill hole KEY005 and the oval shaped REE potential area as the red ellipse.
Figure 2. The 1st Vertical Derivative (TMI) map showing location of the drill hole KEY005 and the REE potential area indicated by an oval shaped magnetic moderate.
Lester Esteban, Chief Executive Officer stated, “Our KLS Project continues to present exciting opportunities to harvest and bountiful potentials to unlock. Discovering uranium at KLS is our main priority, having the team identify two new anomalies with a radioactive swamp and radioactive black soil in their first field program at KLS is a tremendous tailwind in support of our quest to discover a high grade uranium deposit at Key Lake South. However, the monazite hosted rare earth elements intersected from historical drill core KEY-005 cannot be ignored and presents a compelling opportunity to consider with SRC having their Rare Earth Element (REE) Processing Facility, which includes a Monazite Processing Unit (MPU) as the first of three processing units, together in the same province (Saskatchewan) as KLS.”
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of discovery prospects in Canada, including its three flagship 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.
About the Property
The Key Lake South Uranium Project is located approximately 6 kilometers to the southwest of the Key Lake uranium mill and in close vicinity to modern uranium mining facilities and highway transportation in northern Saskatchewan. Geologically, it sits at the southeastern edge of the Proterozoic Athabasca Basin – home of the world’s largest and highest grade uranium deposits and operations. Recent discovery of Triple R and Arrow deposits has demonstrated further potential of high-grade uranium at the edge of the basin.
The technical content of this news release has been reviewed and approved by Linglin Chu, 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 Property but may not be representative of expected results.
On Behalf of The Board of Directors
Chief Executive Officer
+1 (604) 561 2687
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the Company completing phase 1 and phase 2, the Company acquiring any interest in the Property, timing of cash payments, share issuances and expenditure requirements, and development of the Property. 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 but are not limited those 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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