Traction Uranium Corp., a mineral exploration company concentrating on the development of discovery prospects in Canada, with its two flagship uranium projects in the famous Athabasca Region, announced that the crew at Lazy Edward Bay property in Northern Saskatchewan’s Athabasca Basin has mobilized the drill rig and collared the first hole for the summer drill program.
The work program will be carried out in line with the terms of the Option Agreement between Traction and Fission 3.0 Corp (Fission 3), which allows Traction to purchase up to a 70% interest in the Lazy Edward Bay property.
Key Focus Points
- The program’s goal is to look into the historic drill holes LE-073 and LE-072 on the western conductive corridor widely recognized as the Horse Trend, which yielded a number of promising uranium mineralization indicators
- $1.5 M helicopter-supported, diamond drill exploration program
- Eight diamond drill holes totaling 2,000 m along the section, and along strike from encouraging historic drill results
- The Lazy Edward Bay property, which is halfway between Cameco’s Key Lake Mine and the high-grade Centennial uranium deposit, contains NE-trending conductive corridors similar to that found at Key Lake and Centennial
We are excited to have the first hole collared and the drill turning at our Lazy Edward Bay property. Historic drill hole LE-072 intersected strongly altered basement rocks returning up to 170 ppm Uranium in a brecciated, sheared, and altered basement structure. LE-073 reported strongly bleached and fractured, in part limonitic, sandstone throughout its entire length with clay filled fault gouge in the lower sandstone returning 550 ppm anomalous boron. Ticks a lot of boxes for identifying uranium mineralization in the basin and our team will be drilling along section, and along strike from these encouraging historic drilling results.
Lester Esteban, Chief Executive Officer, Traction Uranium Corp.