Traction Uranium (CSE:TRAC) has successfully completed the drilling of the first hole in the Phase 1 Diamond Drill Program at its Key Lake South Project in northern Saskatchewan’s Athabasca Basin. The company, in collaboration with UGreenco Energy Corp., is excited to announce the commencement of the second diamond drill hole to explore the “radioactive swamp” discovered during the Fall 2022 exploration program.

The first hole, KLS23-001, was drilled in the logistically most challenging area, farthest from the radioactive swamp. It targeted the edges of the broad gravity low and the “Athabasca Sandstone” mapped from cobble found in the till during the 1970s. Although the company was unable to test the radioactive anomaly during the Fall 2022 Program due to being unable to get above the swamp, they can now do so, as the ground is fully frozen. This has allowed the company to minimize ground impact and mobilize the drill rig to hole KLS23-002, which sits right above the radioactive swamp and will test for uranium mineralization potential beneath the anomaly.

The Phase 1 diamond drilling program is planned for ten high-priority targets, totaling approximately 2,000 meters. Most of the drill targets are located at the edge of the broad gravity-lows identified in the ground gravity survey of 2022 and targeting areas with extreme surface uranium anomalies mapped in 1973, which can be found on Assessment Report # 74H04-001 on the Saskatchewan Mineral Assessment Database (SMAD). The previously unknown radioactive anomalies discovered by Traction’s exploration team during the ground program of 2022 are of particular interest. Sampling of the “black soil,” where the horizon had an observed thickness of approximately 30 centimeters, returned high-grade uranium mineralization in the SRC analysis results.

Figure 2. The proposed phase 1 diamond drilling of 2023. Black dots represent proposed drill collars, green squares represent surface radioactive anomalies discovered in the ground program of 2022, red shaded areas represent surface uranium anomalies (uranium content >2.345 ppm) from the airborne gamma-ray spectrometric survey (Ford et al., 2006*) and the black shaded area represents the “Athabasca Sandstone” mapped from cobbles in till in 1973 (referenced from Assessment Report # 74H04-001, (SMAD) Saskatchewan Mineral Assessment Database). Actual location of drill collars may change upon ground conditions in the field.

Furthermore, with the ground presently frozen, the “radioactive swamp” is now accessible, providing another high-priority drill target for the company’s team. The drill crews are currently mobilizing the drill shack to target KLS23-002, and drilling beneath the radioactive swamp will commence this week.

Traction Uranium Corp. is thrilled to make progress in its exploration of the Key Lake South Project and to have the opportunity to explore the radioactive swamp. The company is committed to ensuring minimal ground impact during the drilling process and conducting thorough testing to determine the potential for uranium mineralization.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.