CanAlaska Announces 10,000 Metre Phase 2 Drill Program Started on Manibridge High- Grade Nickel Project Targets Focused Within Shadow of Past-Producing Mine Meet Management at Prospectors and Developers Association of Canada Convention June 13
CanAlaska Announces 10,000 Metre Phase 2
Drill Program Started on Manibridge High-
Grade Nickel Project
Targets Focused Within Shadow of Past-Producing Mine
Meet Management at Prospectors and Developers Association of Canada Convention June 13
- 15
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2022) - CanAlaska Uranium Ltd.
(TSXV:
CVV)
(OTCQB:
CVVUF)
(FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to announce that
its partner, Metal Energy, has started a phase two 10,000 metre drill program on the Manibridge high-
grade nickel project in the Thompson Nickel Belt, Manitoba (Figure 1). Drilling will be focused within the
shadow of 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 – Manibridge Property Location
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/126849_0a2cb9844438eb1f_001full.jpg
Thirty-three drill holes, for a total of 10,000 metres, are planned within 600 metres of the past-producing
Manibridge high-grade nickel mine. The program will consist of a series of drill fans along 50-metre
spaced drill setups designed to characterize the nickel-copper sulphide mineralization and geology of
the mineral system.
The planned program will follow up on the results of a recently completed six drillhole program operated
by CanAlaska in the spring of 2022 where disseminated and remobilized nickel-copper sulphide
mineralization was intersected in all six drillholes. Occurrences of massive and net-textured sulphides
were documented in several holes and intense serpentinization alteration of the sulphide-bearing
ultramafic host rocks was also noted. A handheld portable Niton XRF confirms the presence of nickel
and copper within the sulphide-bearing intervals and assays are pending.
The summer 2022 drilling program is being solely funded by the current operator, Metal Energy Corp., as
part of a staged earn-in option agreement. CanAlaska currently holds a 51% interest in the project.
CanAlaska CEO, Cory Belyk, comments,
"The phase one drilling program completed this past winter
had a 100% success rate intersecting nickel mineralization highlighting the potential of the
Manibridge area to host additional significant high-grade nickel. The phase two program is designed
to continue to build on this initial success and take this project to the next level of understanding. This
work is well-timed in a nickel market that continues to strengthen and build momentum. The
Thompson Nickel Belt is a great place to find high-grade sulphide nickel deposits and CanAlaska's
shareholders are starting to benefit from our project generator activity in Manitoba. We look forward to
the next results from Metal Energy's summer program."
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 will be participating in the Prospectors and Developers Association of Canada (PDAC)
convention from June 13
th
- 15
th
, 2022.
Please visit booth 2145
to speak with CanAlaska
representatives about our exciting project portfolio and opportunities for Joint Venture development.
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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