CanAlaska Announces Additional Uranium Intersections From Summer Drill Program Controlling Structure and Graphitic Package Defined on New Discovery Multiple Intersections of Elevated Radioactivity Below Unconformity Preliminary Planned $10 Million 2023 Program Submitted to Joint Venture
CanAlaska Announces Additional Uranium
Intersections From Summer Drill Program
Controlling Structure and Graphitic Package Defined on New Discovery
Multiple Intersections of Elevated Radioactivity Below Unconformity
Preliminary Planned $10 Million 2023 Program Submitted to Joint Venture
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2022) -
CanAlaska Uranium Ltd.
(TSXV:
CVV
)
(OTCQX:
CVVUF
)
(FSE:
DH7N
)
("CanAlaska or the "Company") is pleased to
announce successful completion of the $5 million 2022 drilling program at the West McArthur project.
The majority of this program was focused on expansion of the newly announced high-grade basement-
hosted uranium discovery on the project.
The Company is pleased to report three additional drillholes with elevated radioactivity, highlighted by a
12.4 metre (40.7 feet) intersection that contains multiple metre to sub-metre scale intervals of elevated
radioactivity in WMA072-3, the last hole of the program. Geochemical assay results from the summer
drill program, outside of the previously reported high-grade intersection of 2.4% U
3
O
8
over 9.0 metres
from 906.5 metres in WMA067, are pending. The West McArthur project is operated by CanAlaska,
which currently holds a 78.91% ownership in the project.
Figure 1 – West McArthur Property Location Map
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2864/138799_ef7a14d774da1b84_002full.jpg
The drilling program consisted of 10,632 metres over 11 completed drill target tests. The initial program
was focused on continued expansion of the 42 Zone mineralization and the immediate 1.8 kilometre
anomalous trend to the southwest, in addition to regional testing of the newly acquired geophysical data.
After the discovery of high-grade basement-hosted uranium mineralization in WMA067, on the second
regional test of the drill program (see press release dated July 15
th
, 2022), the Company focused its
efforts on understanding the controls of the mineralization. WMA067 is located 6 kilometres along strike
to the southwest of the Company's 42 Zone mineralization on the C10 South conductive corridor. As part
of the discovery follow-up, eight drill tests were completed on the same fence or immediately along strike
of the WMA067 discovery hole. Elevated radioactivity was intersected in drillholes WMA067-4,
WMA070, and WMA072-3 (Figure 2).
Figure 2 – Drill Hole Locations from WMA067 Discovery Area
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2864/138799_ef7a14d774da1b84_004full.jpg
Next Steps
The Company believes that it has successfully identified the orientation of the controlling structure for the
basement-hosted uranium mineralization. The ideal target, where this controlling-structure intersects the
unconformity, has not been tested and remains a high-priority target for the next drilling program. A
preliminary planned budget has been submitted to the Joint Venture for a $10 million 2023 exploration
program scheduled to commence in January.
Drillhole Details
WMA072-3 tested 38 metres up-dip towards the northeast of WMA067 along the graphitic pelite. The
basement consists of a wide package of graphitic and non-graphitic pelitic metasediments overprinted
by clay and chlorite alteration. Multiple fault zones consisting of clay gouge, broken core, and cataclastic
breccias were intersected in the basement of WMA072-3. The drill hole intersected a 12.4 metre long
intersection that contains multiple metre to sub-metre scale intervals of elevated radioactivity (> 300
counts per second (cps) on handheld CT007-M scintillometer). The mineralization is highlighted by a 20
cm interval of
massive off-scale pitchblende
(> 65,500 cps on handheld CT007-M scintillometer). This
is followed by multiple intervals of semi-massive, blebby, vein-controlled, and foliation-controlled
pitchblende associated with yellow to orange uranium secondaries that range from 10 to 90 cm in length
(shown in red on Figure 3). WMA072-3 is interpreted to have intersected the targeted horizon near the
controlling structure, slightly to the east of the ideal target. Core recovery throughout the basement
intersection is 100%.
Figure 3 – Drill Core Photographs of WMA072-3
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2864/138799_ef7a14d774da1b84_006full.jpg
WMA067-4 tested 30 metres up-dip of WMA067. The basement consists of a wide package of graphitic
and non-graphitic pelitic metasediments overprinted by clay, chlorite, and hematite alteration associated
with fault zones that contain clay gouge, broken core, and cataclastic breccias. The drill hole intersected
two zones of elevated radioactivity between 887.4 and 888.3 metres, consisting of one 60 cm and one
10 cm interval (> 300 cps on handheld CT007-M scintillometer). The mineralization is characterized by
semi-massive and vein-controlled pitchblende with weak yellow uranium secondaries. WMA067-4 is
interpreted to have intersected the targeted horizon to the west of the main mineralized controlling
structure. Core recovery throughout the basement intersection is 100%.
WMA070 tested 80 metres up-dip and to the east of WMA067. The basement consists of a wide
package of graphitic and non-graphitic pelitic metasediments overprinted by clay, chlorite, and hematite
alteration. Multiple graphitic fault zones characterized by cataclasites, clay gouge, and enhanced
alteration were intersected throughout the graphitic pelite sequence. The drill hole intersected a 4.5
metre wide zone that contains multiple sub-metre scale intervals of elevated radioactivity (> 300 cps on
handheld CT007-M scintillometer). The mineralization is characterized by vein-controlled and
disseminated pitchblende with weak yellow uranium secondaries. WMA070 is interpreted to have
intersected the targeted horizon to the east of the main mineralized controlling structure. Core recovery
throughout the basement intersection is 100%.
An additional three drill holes were completed on the WMA067 fence. WMA067-1 intersected the
targeted horizon 25 metres immediately down-dip of WMA067, WMA067-2 intersected the targeted
horizon 30 metres along strike to the east of WMA067, and WMA071 intersected the targeted horizon
60 metres up-dip and to the west to WMA067. All three drill holes intersected variably bleached and
chlorite-altered basement. In addition, all three drill holes intersected the targeted graphitic
metasedimentary package and re-activated fault structures. The three drillholes that lack significant
radioactivity did not intersect the mineralized controlling structure. However, these three drill holes
confirm the system is still active in the area, with alteration and structure that are indicative of the
mineralizing event and help to define the plunge of the basement-hosted mineralization along the
WMA067 fence.
Additionally, WMA073 was completed 160 metres along strike to the northeast of the WMA067 fence,
targeting the uppermost contact of the interpreted graphitic package that is host to the WMA067
mineralization. WMA073, drilled at an azimuth of 320˚ with an inclination of -80˚, intersected a 40 metre
wide structural zone in the medial sandstone column from 573 m that is characterized by strong
bleaching, silicification, and limonite alteration associated with steeply-dipping fractures, clay-healed
breccias, and isolated sandy-clay gouge. Several intervals of poor recovery, 10 - 50%, were reported
within the core of the structural zone between 587 and 605 metres. The basement of WMA073, below
the unconformity at 804.5 metres, consisted of footwall metasediments followed by granitic gneiss.
Based on the intense faulting and alteration in the lower sandstone, coupled with the footwall
stratigraphy, it is interpreted that WMA073 overshot the target at the unconformity by approximately 60
metres. Based on these results, immediate follow up of the sandstone structure back to the ideal target
at the unconformity is warranted.
Table 1 - Significant Radioactive Intervals Summary
DDH
From
(m)
To
(m)
Length
(m)
4
Interval
Radioactivity
(cps)
1
,2,3
Maximum
Radioactivity
(cps)
1
,2,3
WMA067-1
Easting: 477,284 mE
Northing: 6,396,396 mN
Elevation: 605.8m A.S.L.
Azimuth: 325˚
Dip: -75.7˚
No significant elevated radioactivity intersected
WMA067-2
Easting: 477,284 mE
Northing: 6,396,396 mN
Elevation: 605.8m A.S.L.
Azimuth: 325˚
Dip: -75.7˚
No significant elevated radioactivity intersected
WMA067-4
Easting: 477,284 mE
Northing: 6,396,396 mN
Elevation: 605.8m A.S.L.
Azimuth: 325˚
Dip: -75.7˚
887.4
888
0.6
> 300
12,700
888.2
888.3
0.1
> 300
1,700
WMA070
Easting: 477,258 mE
Northing: 6,396,517 mN
Elevation: 599 m A.S.L.
Azimuth: 322˚
Dip: -82.0˚
809.1
810
0.90
> 300
2,900
810.6
811.1
0.5
> 300
31,000
811.9
812.3
0.4
> 300
1,000
813
813.6
0.6
> 300
15,000
WMA071
Easting: 477,257 mE
Northing: 6,396,517 mN
Elevation: 599 m A.S.L.
Azimuth: 300˚
Dip: -80.0˚
No significant elevated radioactivity intersected
WMA072-3
Easting: 477,256 mE
Northing: 6,396,520 mN
Elevation: 599 m A.S.L.
Azimuth: 313˚
Dip: -82.0˚
846.4
847
0.6
> 300
> 65,500
847.1
848.1
1.0
> 300
16,000
848.3
848.6
0.3
> 300
475
850.3
850.7
0.4
> 300
10,100
853.9
854.7
0.8
> 300
13,500
855.0
855.5
0.5
> 300
7,200
855.7
856.6
0.9
> 300
3,600
857.9
858.6
0.7
> 300
12,600
858.7
858.8
0.1
> 300
1,100
1
.
Radioactivity is total gamma from drill core measured with a CT007-M gamma-ray spectrometer/scintillometer in cps (counts per second) at
ten-centimetre intervals along the drill core.
2
.
Measurements of total gamma cps on drill core are an indication of the presence of radioactive materials (uranium, thorium, and/or
potassium), but may not directly correlate with uranium chemical assays. Total gamma cps readings are preliminary and may not be used
directly to quantify or qualify uranium concentrations of the rock samples measured.
3
.
The Company considers all CT007-M readings greater than 300 cps to constitute elevated radioactivity, with background radioactivity
measuring between 50 to 125 cps. The CT007-M device has a maximum possible reading of 65,500 cps.
4
.
All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which
have yet to be determined.
CanAlaska CEO, Cory Belyk, comments,
"The style of alteration and mineralization with local zones of
very high-grade uranium mineralization is exactly what we would anticipate from the drilling program in
this geological setting. The presence of off-scale radiometric results highlights the potential of this
system to deposit large amounts of high-grade uranium. With a better understanding of the controlling
fault structures now in hand, the CanAlaska team will focus on testing the target area at the
unconformity, along strike and within the basement. This is a growing discovery that is truly wide open
and we look forward to the next drilling program that is currently planned for early 2023."
Geochemical Sampling Procedures
All drill core samples from the 2022 summer program have been received by the Saskatchewan
Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan. The samples were
shipped in secure containment for preparation, processing, and multi-element analysis by ICP-MS and
ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U
3
O
8
wt% assay by ICP-OES using higher grade standards. Radiometric assay samples are chosen based
on downhole probing radiometric equivalent uranium grades and scintillometer (SPP2 or CT007-M)
peaks. Assay samples comprise 0.3 - 0.5 metre continuous split-core samples over the mineralized
interval. A 0.1% U
3
O
8
cut-off with a maximum internal dilution of 1 metre is used for compositing and
reporting the data. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified
analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample
stream at regular intervals by CanAlaska and the SRC in accordance with CanAlaska's quality
assurance / quality control (QA/QC) procedures. Geochemical assay data are subject to verification
procedures by qualified persons employed by CanAlaska prior to disclosure.
All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not
represent true thicknesses, which have yet to be determined.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: 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.
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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