Traction Uranium (CSE: TRAC) (OTC: TRCTF) has two flagship uranium projects located in the world-renowned Athabasca Region: Lazy Edward Bay and Hearty Bay. Other uranium companies in the region include Cameco, NexGen, Fission Uranium, Denison, Purepoint, UEX, ALX and Skyharbour. Preexisting refining mills are in operation near both of Traction’s properties. Infrastructure, equipment, expertise and an experienced workforce are all in the area, the result of decades of uranium mining in the region.
The Athabasca basin region is home to 10 of the 15 highest grade uranium deposits in the world, with about 20 times the international average purity. 15.5% of the world's uranium comes from this area.
Traction recently completed 10 diamond drill holes totaling 3,005 metres at the 1,828-hectare Lazy Edward Bay property intersecting elevated levels of radiation in 70% of its drill holes. The Lazy Edward Bay property is located halfway between Cameco’s Key Lake Mine and the high-grade Centennial uranium deposit, and hosts NE-trending conductive corridors similar to those associated with Key Lake and Centennial. The Key Lake operation, approximately 50km to the east, was one of the largest and most significant uranium deposits in the Athabasca Basin.
The major uranium deposits in the eastern Athabasca Basin, including Key Lake, McArthur River and Cigar Lake, are along the NE-trending Wollaston-Mudjatik transition zone and conductive corridor. To the west of the property, the Centennial deposit is localized along the NE-trending Virgin River conductive corridor which transects the entire Athabasca Basin. The Key Lake mine, located ~50 km to the east of the property is accessible by Provincial Highway 914, serviced by the provincial power grid, and has an operating mill where the McArthur River ore has been processed.
Traction's drilling encountered favorable structure, alteration and anomalous radioactivity in the vicinity of historic hole LE-73 on the West Horse conductor. The unconformity was intersected at 173 m and a large fault zone was intersected between 178.4 m and 190.1 m. Several drill targets were defined along the East and West Horse conductors based on the 3D conductance model from the inversion of the VTEM data flown by JNR Resources in 2017. Drill holes LE-009 and LE-010 tested 2 of these targets.
Favorable structure, alteration along with elevated levels of radiation are key indicators for identifying unconformity type, high grade uranium deposits typical in the basin.
Traction has submitted a total of 838 samples for lithogeochemical analysis at SRC Analytical using their “Uranium Package”.
The Lazy Edward Bay property is located over shallow sandstone covering approximately 12.5 km east of the Cable Bay Shear Zone in the southeastern Athabasca Basin. The west portion of the property captures most of the Ponderosa conductive trend, along with historic drill holes LE-072 and LE-073 that respectively encountered 170 ppm uranium in brecciated and sheared gneiss, and 40 ppm uranium along with 550 ppm boron within sandstone fault gouge. Claims in the eastern portion of the property cover part of the Liberty conductive trend, with nearby historic drill hole LE-001 intersecting 224 U3O8 over 0.5 metres.
Near the edge of the basin, the depth of targets at Lazy Edward Bay are shallow, giving a huge advantage of inexpensive exploration. There is high potential for a near surface, high-grade uranium discovery.
Traction’s 11,173-hectare Hearty Bay property is located on the north edge of the Athabasca Basin, 20 km west of the Fond-du-Lac Uranium deposit and 60 km east of the Beaver Lodge uranium district. Hearty Bay surrounds the historic Isle Brochet radioactive-sandstone boulder trains, 1 km long dispersal trains trending along the main ice direction and containing up to 3% uranium. Approximately 600 m to the northeast several more radioactive boulders of both sandstone and basement origin were discovered. Strong airborne EM conductors within the property were identified by historic surveys up-ice of the radioactive boulder trains.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from Traction Uranium of US$100,000 cash for a one-year marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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