Traction Uranium Corp (OTCMKTS:TRCTF) (CSE:TRAC) Stock In Focus As The Company Announces Hearty Bay 2022 Work Program

Traction Uranium Corp (OTCMKTS:TRCTF) (CSE:TRAC) is moving in a range after announcing a 1,400 meters drill program that includes a surface geophysical survey to be carried out at its Heart Bay property in the Athabasca Basin.

Market Stats

On Monday, TRCTF stock ended flat at $0.78 with more than 1k shares, compared to its average volume of 100 shares. The stock moved within a range of $0.7800 – 0.7800 after opening trading at $0.78.

Traction Uranium Announces Hearty Bay 2022 Work Program

The Hearty Bay property is adjacent to the historical Isle Brochet radioactive boulders tracks. Fission 3.0 (“Fission”) discovered 45 radioactive rocks with test values of 8.23 percent U3O8 on Isle Brochet back in 2019, with approximately 24 percent of those yielding assay values of >1 percent U3O8. Several underlying geological and lithological characteristics identified by a maritime seismic survey done in the up-ice region to the northeast indicated drill targets.

The company purchased a 50% stake of the Hearty Bay property from Fission using cash payments of C$0.65 million, issuance of 6.043 million of its common shares to Fission, and commitment to finalize $3 million exploration study on the property over two years. Notably, Fission will retain a 2.0% NSR. So in the coming weeks, investors should watch TRCTF.

Key Quote

Michael Malana, Chief Executive Officer, stated, “We have identified high-priority zones from high-grade uranium boulder trains and we are excited to be able to test these targets for positive results. The drilling coupled with the planned EM survey will give the team new data to form new geological structures and aim in creating new drill targets for future programs.”