Nuclear energy now provides about 10% of the world’s electricity from 443 nuclear power reactors, with the U.S., China, and France standing as the top three nuclear power producers on the planet. France relies on nuclear energy for over 70% of its electricity.
China has announced a plan to invest nearly $440 billion in nuclear energy to build 150 new reactors by 2035. Governments, companies, and climate change experts across the globe recognize nuclear energy’s value, taking the initiative to invest in designing and building new nuclear technologies.
Uranium is the primary fuel source for nuclear power production, which produces electricity and isotopes used for medical, industrial, and defense purposes around the world. Russia produces nearly 20% of the world’s uranium, but after Russia’s most recent move, halting gas supply to Poland and Bulgaria amid the impending war, leaders of other countries are quickly seeking to ditch their dependence and secure a more diversified supply chain.
Traction Uranium, a Vancouver-based mineral exploration issuer and global leader in uranium exploration, has stepped up to be a part of the solution. Traction Uranium is focusing on the development of discovery prospects in Canada, currently spotlighting its two flagship uranium projects in the world-renowned Athabasca Region.
Lester Esteban, Director, and CEO of Traction Uranium, is an experienced mining executive with over 15 years of experience in the mining, chemical, and industrial markets. Traction appointed Esteban as their new CEO in March, and he has brought to the table both knowledge about the intricacies of uranium exploration and the sales initiative to take companies to the top.
In the many years he spent working with companies in the chemical space, Quadra Chemicals, and Univar, Esteban observed a growing revival of the uranium exploration industry. Uranium’s multifarious potential as an investment and a vehicle for combating climate change was the driving force behind Esteban’s venture into uranium mining. “Uranium is a necessity in order to have green energy for the future,” Esteban says. “For us to get away from carbon-intensive fuels like diesel and coal and meet the Paris Climate Change Agreement, nuclear power has to be a part of that equation.”
The Athabasca Basin, home to two of Traction Uranium’s landmark projects, is a region of the Canadian Shield of northern Saskatchewan and known as one of the world’s leading sources of high-grade uranium. 10 of the 15 highest-grade uranium deposits have been found in this area – this is precious real estate that Traction Uranium has acquired for mining. Esteban puts the value of their asset in perspective, saying, “In the Athabasca region, we are getting about 2% grade uranium. In nearly all other countries mining uranium, you’re getting grades of 0.1 to 0.2%.”
Aside from being the source of uranium deposits with 20 times the international purity, Athabasca in the province of Saskatchewan is home to top-tier mining jurisdiction and the best practices for environmental protection. Mining began in Saskatchewan in the 1920s, with the first official uranium mine opened in 1949. While this first mine was short-lived, it helped Canada become one of the largest uranium producers in the world, and left behind a legacy paving the way for Canada’s prosperous mining economy, now more than 60 years in the making.
Traction is taking a leading role in the exploration of this uranium hotspot located in northern Saskatchewan, ranked #2 jurisdiction in the world for mining investment in 2018 by the Fraser Institute, with their two separate mining projects stationed in the region, Hearty Bay and Lazy Edward Bay.
Hearty Bay is located on the northwest side of the Athabasca Basin in the Beaverlodge /Uranium City district and hosts a U3O8 boulder field where glaciation has transported high-grade uranium from a nearby source. This area comprises six mineral claims covering approximately 10,604 hectares of land, for which Traction has implemented a 1,400-meter drilling program to occur this year to discover the source of high-grade uranium boulder trains. Additionally, a ground electromagnetic survey will take place to provide additional information in determining the source of the boulder train.
Traction’s other lucrative project, Lazy Edward Bay, holds a high potential for a near-surface, high-grade uranium discovery. Lazy Edward Bay is located in the southeastern margin of the Athabasca Basin, halfway between the historic Key Lake Mine and Cameco’s Centennial deposit. The Key Lake operation, 50 kilometers to the east, was one of the largest and most significant uranium deposits in the Athabasca Basin. Traction discovered key indicators for nearby high-grade uranium deposits and is pursuing the next steps in drill testing the promising shallow drill targets.
One aspect that sets Traction apart from other mineral exploration companies is its partnership with Fission 3.0, the renowned uranium project generator and exploration company. Fission 3.0 has several successful projects under its belt due to its vast expertise in vectoring, which allows them to predict the location, shape, orientation, and continuity of mineral bodies. “Fission 3.0 knows exactly what they’re looking for in terms of identifying a uranium deposit,” Esteban says. “When we utilize investor funds to execute a drilling program, I have confidence in their team that we have defined and identified good targets to drill.”
Traction Uranium has risen as a leader in the frontier of global uranium exploration at the perfect time. As the war between Russia and Ukraine continues, the world’s reliance on natural gas will surely be a point of leverage and exploitation – setting the stage for nuclear power to be the solution to global energy security.
The time is now to invest in Traction. Visit TractionUranium.com to learn more about investment opportunities and upcoming projects.