This news release contains certain forward-looking statements within the meaning of applicable securities laws. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp.,ĭisclaimer for Forward-Looking Information Fission 3 is currently planning a winter exploration/drill program on its PLN project. Several of Fission 3’s projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits. Fission 3 currently has 16 projects in the Athabasca Basin. We invite you to find out more about our exploration-stage activities across Canada’s Western region at About Fission 3.0 Corp.įission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of world’s largest high grade uranium discoveries. Traction Uranium ( CSE: TRAC) ( OTC: TRCTF) ( FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the Athabasca Region. 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. 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 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. 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. All depths reported of core interval measurements of radioactivity are not always representative of true thickness. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. Natural gamma radiation in the drill hole surveys that are reported in this news release was measured in counts per second (cps) using a Mount Sopris Instruments QL40-GRA borehole gamma probe. Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. Geochemical analyses by Uranerz showed that the radiometric anomalies encountered in LE-73 near the unconformity were predominantly caused by high thorium contents, but they were also accompanied with elevated uranium values (170.4 m to 170.6 m of 40 ppm U and 733 ppm Th).įollow up hole LEB-005 down dip of this intersection is in progress to test the footwall where the reverse fault intersects the basement, which is a similar setting to the occurrence of the McArthur River uranium mine. These results confirm what has been reported by Uranerz Exploration and Mining Limited in historic drill hole LE-73 drilled in 1989. This corresponds with a peak of 1320 cps on the borehole gamma probe within a 1.6m interval from 162.56 m to 164.16 m greater than 500 cps. Hole LEB22-004 is the fourth hole to be completed during the ongoing summer drilling program and intersected elevated radioactivity associated with a reverse fault at the unconformity from 163.50 to 164.0 m with a maximum of 430 cps, measured on the drill core with a handheld Radiation Solutions RS-125 scintillometer. Drilling on the Horse West conductor has encountered anomalous radioactivity in drill hole LEB22-004 near the sandstone-basement unconformity at 164.6 m associated with a reverse fault. (the “ Company” or “ Traction”) ( CSE: TRAC) ( OTC: TRCTF) ( FRA: Z1K) and Fission 3.0 Corp.(“ Fission 3”) are pleased to provide an update of the drilling at the Lazy Edward Bay project in the SE Athabasca Basin region which commenced on May 17, 2022. VANCOUVER, British Columbia, (GLOBE NEWSWIRE) - Traction Uranium Corp.
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