Traction Uranium Corp. Option to Earn 100%. Traction can earn an initial 51% interest by paying Forum $250,000, issuing 1,625,000 common shares of Traction and spending $3 million in exploration by December 31, 2025. Forum will be operator until Traction completes this first phase. For complete details please refer to the Forum’s press release dated Feburary 7, 2023.
|Stage:||Early Stage Exploration|
|Size:||10,528 ha. in two separate claim blocks. Acquired by staking in 2020.|
The Grease River Property is located on the northeast edge of the Athabasca Basin to the northwest of Forum’s Fir Island exploration project currently under option to Orano Canada. The property is situated along the northeast trending Grease River shear zone, south of Lake Athabasca near the Fond du Lac uranium deposit.
|Forum’s claims are located near Traction’s Hearty Bay project, recently optioned from F3 Uranium Corp. Limited exploration has been conducted in the area, which is prospective for uranium mineralization along the Grease River shear zone.|
The Fond du Lac uranium deposit was discovered by Eldorado Nuclear and Camok in 1970. The deposit is characterized by a train of mineralized glacial erratics, which led to the initial near-surface discovery within the Athabasca sandstone, primarily above the unconformity. At that time a uranium resource totaling 990,000 lbs. at an average grade of 0.25% U3O8 was completed (Not NI 43-101 Compliant). Source: Saskatchewan Mineral Deposits Index, Property # 1572. The historical resource cited here is for informational purposes only. It has not been verified by a Qualified Person as defined by NI 43-101.
- Axiom Exploration Group has been contracted to conduct airborne magnetic, electromagnetic, and radiometric surveys to aid structural mapping and define prospective drill targets.
Forum’s Grease River Claims. The Fond du Lac uranium deposit is located between the two claim blocks