Drilling
The 2023 program was comprised solely of an 1,838 m diamond drilling program in 12 holes, covering numerous widely spaced targets in the northeastern area of the property. At each hole, a down-hole gamma ray survey was performed to test for gamma radiation, including readings through overburden, to test for glacially transported or other surficial radioactive material.
Summary of the Technical Report
- The majority of anomalous thorium (Th) intercepts are associated with rare earth elements (REEs), locally returning strongly anomalous values.
- Many of these intercepts are pegmatite-hosted, although amphibolite and structurally-hosted intercepts also occur.
- The northwestern property area, including hole KLS23-007, is the most favourable area for Uranium and REE mineralization.
- The area around KLS23-007 is along trend of the structural feature underlying the
Key Lake deposits to the northeast, extending to anomalous Th-REE mineralization drilled in 2008 to the SW. - Hole KLS23-008, collared southwest of KLS-007, pierced the contact of
Upper Wollaston Group orthogneiss with underlyingLower Wollaston Group metapelites. A short interval of anomalous Thorium-REE values occurs directly below the contact. - Anomalous Th-REE values from the 2008 drilling are hosted by pegmatites within metapelites.
- Uranium, Th-REE mineralization may provide an alternate exploration target at Key
Lake South .
Recommendations of the Technical Report
- Phase 1 surface soil geochemical program is recommended to test for overburden-hosted mineralization identified from down-hole gamma ray probe testing of KLS23-007. The objective will include testing its lateral surface extent up-ice from the drill collar.
- This program should be combined with further geological mapping in areas of bedrock or rubblecrop exposure.
About the Property
The KLS Property is located approximately 6 kilometers to the southwest of the
Geological Setting
In the Key
About
We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
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Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include those risks identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.
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Source:
2023 GlobeNewswire, Inc., source