3,000 Metre Drill Program Started on CanAlaska's High-Grade Manibridge Nickel Project Multiple Targets Within and Near Historical Mineralized Nickel Zone CanAlaska Has Ongoing Uranium and Nickel Exploration Activity on Multiple Projects
3,000 Metre Drill Program Started on
CanAlaska's High-Grade Manibridge Nickel
Project
Multiple Targets Within and Near Historical Mineralized Nickel Zone
CanAlaska Has Ongoing Uranium and Nickel Exploration Activity on Multiple Projects
Vancouver, British Columbia--(Newsfile Corp. - March 8, 2022) -
CanAlaska Uranium Ltd. (TSXV:
CVV
) (OTCQB:
CVVUF
)
(FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to announce that a
planned 3,000 m drill program has started on the high-grade Manibridge nickel project in the Thompson
Nickel Belt, Manitoba (Figure 1). Drilling will focus near the past-producing Manibridge Nickel Mine that
produced 1.3 million tonnes at an average grade of 2.55% nickel and 0.27% copper from 1971 to 1977.
Figure 1
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Nine drill holes, for a total of 3,000 m, are planned within one kilometre of the past-producing high-grade
nickel mine. The program is designed to test several different target concepts that will provide new
geological information to help advance the Manibridge project to the next stages of exploration (Figure
2). This drilling program is being solely funded by Metal Energy Corp. as part of a staged earn-in option
agreement. CanAlaska is the current operator on the project.
CanAlaska CEO, Cory Belyk, comments,
"With the price of nickel taking off and nickel inventories at
an historic low, now is the time to advance high-grade sulphide nickel projects such as Manibridge to
the next level of exploration and investment. We are excited to be part of the inaugural drilling
program under this new option agreement with Metal Energy. With CanAlaska's extensive Thompson
Nickel Belt holdings, our shareholders are well positioned to take advantage of the increasing nickel
market fundamentals."
Figure 2
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About the Manibridge Project
Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The
Project is 20 kilometers southwest of Wabowden, Manitoba, which has significant infrastructure and
capacity that has supported previous exploration programs, including year-round highway access via
Highway 6.
Other News
The Company is actively drilling on it's 100%-owned Waterbury South uranium project in the northeastern
Athabasca Basin, near the Cigar Lake uranium mine.
Additionally, the Company's Stepwise Moving Loop Time Domain Electromagnetic Survey continues on
its West McArthur Joint Venture project.
A ground gravity survey on the Company's new Key Extension project has commenced and is
anticipated to be completed by month's end.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in
approximately 300,000 hectares (750,000 acres), 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
.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice
President, Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email:
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the
Company expects, believes or anticipates will or may occur in the future are forward-looking
statements.
These forward-looking statements involve numerous assumptions made by the Company
based on its experience, perception of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the circumstances. In addition, these
statements involve substantial known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other forward-looking statements will prove
inaccurate, certain of which are beyond the Company's control.
Readers should not place undue
reliance on forward-looking statements.
Except as required by law, the Company does not intend to
revise or update these forward-looking statements after the date hereof or revise them to reflect the
occurrence of future unanticipated events.
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