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Traction Uranium Key Lake South Property Receives Drill Permits from the Saskatchewan Ministry of Environment
CALGARY, Alberta, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to annou
About this update from Traction Uranium Corp
[{"type":"text","content":" CALGARY, Alberta, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that, along with UGreenco Energy Corp., it has received (i) diamond drilling, (ii) borehole surveys, (iii) trail development and (iv) temporary work camp permits from the Saskatchewan Ministry of Environment (collectively, the “Permits”) for the Company’s upcoming winter 2023, 2,000 metre diamond drill program at the Key Lake South Property (“KLS Property”), such Permits are valid to July 31, 2024. Lester Esteban, Chief Executive Officer of the Company, stated: “after our team encountered high-grade uranium mineralization (see news release dated November 14, 2022) in the “black soil” and discovered a new radioactive anomaly the “radioactive swamp”, we have been busy preparing to return to the KLS Property with the drill. Receipt of the drill permits from the Saskatchewan Ministry of Environment brings us one step closer to being fully permitted for our 2023 winter drill program at the KLS Property.” About the Upcoming KLS Drill Program: Phase 1 diamond drilling is planned with 2,000 metres, targeting areas with extreme surface uranium anomalies, including the “black soil” anomaly, the “radioactive swamp” and the “Athabasca Sandstone” mapped in 1973 (referenced from Assessment Report # 74H04-001, (SMAD) Saskatchewan Mineral Assessment Database). Most of the drill targets are situated at the edge of the broad gravity-lows identified in the ground gravity survey of 2022 (see Figure 1). About the “Black Soil” and “Radioactive Swamp”: The previously unknown radioactive anomalies discovered by Traction’s exploration team during the ground program of 2022 (see news release dated September 27, 2022) were the “radioactive swamp” and “black soil”. Sampling of the “black soil”, where the horizon had an observed thickness of approximately 30 centimetres, returned 0.93 wt.% U308, 1180 ppm Cobalt, 625 ppm Nickel and 196 ppm Boron (see news release dated November 14, 2022). Further sampling is required, the “radioactive swamp” is accessible in the winter when the swamp is frozen and may host uranium anomalies that may be similar to the “black soil”. An overburden drilling program is being considered to test for uranium mineralization near the surface in the overburden/till. Drill T...