• Traction Uranium (TRAC) reports assay results from its Key Lake South Property in the Athabasca Basin
  • The company intersected a 6 metre zone of significant radioactivity encountered at a shallow and near-surface depth starting at 1.6 metres to 7.6 metres
  • Traction Uranium said this is consistent with the high-grade uranium the company previously discovered in the “black soil” overburden
  • The Key Lake South Property is located roughly 6 kilometres southwest of Cameco’s Key Lake Uranium mill
  • Shares of Traction Uranium are up 6.94 per cent to C$0.39 as of 11:55 a.m. EDT

Traction Uranium (TRAC) reports assay results from its Key Lake South Property in the Athabasca Basin.

In a press release, the company said it intersected a 6 metre zone of significant radioactivity at a shallow and near-surface depth, starting at 1.6 metres to 7.6 metres.

According to the company, this is consistent with the high-grade uranium it previously discovered in the “black soil” overburden.

The drill hole KLS23-007 sits roughly 6 kilometres from Cameco’s Key Lake South Uranium Mill.

“Drill hole KLS23-007 continues the narrative and further supports the thesis of an “overburden hosted” uranium mineralization,” Lester Esteban, CEO of Traction Uranium, said in a release. “With our neighbour, Cameco, and [its] world-class Key Lake Uranium Processing Mill less than 7 km away, our target area is close to the mill, which bodes well for potential future project economics.”

Traction Uranium is a Calgary, Alberta-based mineral exploration company focused on the development of uranium prospects in Canada. The company has three uranium projects in the Athabasca Basin region in Saskatchewan.

Shares of Traction Uranium (TRAC) are up 6.94 per cent to C$0.39 as of 11:55 a.m. EDT.

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