CanAlaska Uranium Ltd. holds interests in approximately 152,000 hectares, one of the largest land positions in Canada's Athabasca Basin. — Photo cour
CanAlaska Uranium Ltd. holds interests in approximately 152,000 hectares, one of the largest land positions in Canada's Athabasca Basin. — Photo courtesy CanAlaska Uranium Ltd.
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N), ("CanAlaska or the "Company") is pleased to report that drilling has commenced at the West McArthur uranium project to expand current high grade uranium mineralization discovered in holes drilled by Cameco during their recent work programs on the property. The project is a 70/30 joint venture controlled by CanAlaska.
The program is intended to locate high-grade uranium hosted in faults along the C10 horizon, the major regional fault structure. Two previous drill holes intersected high-grade uranium - up to 5% U3O8 - just west of the projection of the C10 horizon and near the unconformity contact. CanAlaska believes the controlling structure of this high-grade mineralization has yet to be intersected in drilling.
The summer drill program is being operated by CanAlaska, and follows on the three-year target definition by Cameco's drill team. The ten holes drilled along a 1.6 kilometre (one mile) long stretch of Grid 5 included three significant uranium mineralized drill holes. The wide spaced drilling also mapped an extensive zone of intense fluid alteration extending into the sandstone above the unconformity with basement rocks. The alteration rises 700 metres above the unconformity and is marked by broad halos of uranium, boron, arsenic and accompanying base metals, typical environments of major uranium deposits in the Athabasca Basin. The alteration and geochemical influx are associated with steep faults observed in the drill holes within the sandstone.
CanAlaska President Peter Dasler comments, "The extent of the mineralization and in multiple areas over 1.6 kilometres (one mile) provides the scenario for a "Tier One" mineralizing event similar to the nearby world class McArthur River and Cigar Lake mines. We are fully financed to carry out the work program. This is truly a break-out discovery opportunity for CanAlaska."
CanAlaska Uranium Ltd. (TSX-V: OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 152,000 hectares (375,000 acres), one of the largest land positions in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
