VANCOUVER, British Columbia, July 12, 2022 (GLOBE NEWSWIRE) — Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K), a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region, is pleased to execute a Master Service Agreement with the Saskatchewan Research Council (SRC) in exploring ISR (in-situ recovery) uranium extraction projects to utilize their core flooding machine post discovery.
SRC is Canada’s second largest research and technology organization. With 350 employees, $137 million in annual revenue and 75 years of experience, SRC provides services and products to its 1,500 clients in 27 countries around the world.
Lester Esteban, Chief Executive Officer, stated “SRC has been synonymous with mining in Saskatchewan and around the world for a very long time. Their knowledge and proficiency around mining and uranium is unrivaled and supports our pillars of exploration and expansion being supported by experience and expertise. Conventional mining involves removing mineralized rock from the ground, grinding, sorting and separating out what we want from what we don’t. Solution mining otherwise known as ISL (in-situ leaching) or ISR (in-situ recovery) leaves the ore where it is in the ground, recovery is done by dissolving the minerals we want from the ore and pumping up the pregnant solution to the surface where we can recover it resulting in little disturbance and no tailings or waste rock generated. This provides low capital costs relative to conventional mining providing Traction a key technological partner post discovery and supports our plans for adding more properties in North America.”
The uranium in-situ recovery process is proposed to mine deposits that are difficult to justify mine development due to either not enough uranium or too high of radiation. The technology can potentially utilize drilling and cracking to create passage for the lixiviant through the ore body to extract the uranium in-situ potentially utilizing the current freezing technology used at Cameco’s Cigar Lake to encapsulate the orebody for the in-situ recovery.
The apparatus at SRC is called the Core Flooding Machine. It can stimulate the overburden pressure and pumping pressure during recovery. It uses drill cores and the evolution of permeability and uranium extraction as a function of time and amount of injection lixiviant are recorded and monitored.
About Traction Uranium Corp.
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 world-renowned Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
On Behalf of the Board of Directors
Chief Executive Officer
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Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the expected use of proceeds from the Private Placement are “forward-looking statements”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.