CanAlaska Announces Continuation of 10,000 Metre Drill Program at Manibridge Nickel-Bearing Sulphides Intersected in All Summer Drillholes to Date CanAlaska at Red Cloud's Fall Mining Event, November 9 th 2022
CanAlaska Announces Continuation of 10,000
Metre Drill Program at Manibridge
Nickel-Bearing Sulphides Intersected in All Summer Drillholes to Date
CanAlaska at Red Cloud's Fall Mining Event, November 9
th
2022
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2022) -
CanAlaska Uranium Ltd. (TSXV:
CVV
)
(
OTCQX:
CVVUF)
(FSE:
DH7N
)
("CanAlaska or the "Company") is pleased to provide an
update on the ongoing 10,000 metre drill program at the high-grade nickel and copper-cobalt
Manibridge project in the Thompson Nickel Belt, Manitoba (Figure
1). The current drill program is
focused along the northern extension of the past-producing Manibridge Nickel Mine. The mine produced
1.3 million tonnes at an average grade of 2.55% nickel and 0.27% copper from 1971 to 1977.
CanAlaska currently holds a 30% interest in the project, with the remaining 70% held by the current
operator, Metal Energy Corp.
Figure 1 – Manibridge Property Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/143424_figure01.jpg
The ongoing drill program is planned for 10,000 metres of diamond drilling in approximately 33 drill
holes. During the first half of the program, operated between June 6 and July 28, 2022, a total of 5,331
metres were completed in 16 drill holes with 3 abandoned drill holes (Table 1).
The completed drill hole
collar locations were within 300 to 600 metres of the historic mine workings. All sixteen drill holes that
successfully intersected the bedrock also intersected Ni-Cu-Co sulphide mineralization, confirmed with a
portable Niton XL5 XRF (pXRF). The Ni-Cu-Co sulphides occur as either disseminations within the
mafic to ultramafic host rocks, remobilizations along foliation and shears, vein-hosted, net-textured, or
brecciated.
The remaining planned drill holes will focus within 150 to 300 metres of the historic mine workings. The
average planned drill hole depths are between 225 and 400 metres and all drill holes will be inclined
between -45˚ and -85˚. Figure 2 shows the completed and planned drill hole locations with respect to the
historic Manibridge Mine.
Figure 2 – Completed and planned drillholes relative to historic Manibridge mine workings.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/143424_figure02.jpg
Geochemical assays for the completed drill holes are still being processed, but will be released as they
become available from the laboratory, and after QA/QC by the Company's Technical team.
CanAlaska CEO, Cory Belyk, comments,
"It is good to have Metal Energy drilling again on this high-
grade nickel project in the prolific Thompson Nickel Belt, the fifth largest of its kind on the planet. The
results to date support the exploration thesis of CanAlaska's project generator team for the nearby
and 100% CanAlaska-owned Resting Lake and Halfway nickel projects. CanAlaska's shareholders
are well exposed to the battery metals space through our low-cost generative investment in the
Thompson Nickel Belt."
Table 1 - Manibridge Phase 2 Drill Hole Collar Information and Results
DDH
Section
Easting
(m)
Northing
(m)
Elevation
(m)
Azimuth
(˚North)
Dip
(˚)
EOH
(m)
Notes
MNB007
11 North
510,914
6,062,356
236
295
-45
272.5
MNB008
11 North
510,914
6,062,356
236
295
-59
302.5
MNB009
11 North
510,914
6,062,356
236
295
-67
325
MNB010
11 North
510,914
6,062,356
236
295
-76
350.5
MNB011
11 North
510,914
6,062,356
236
295
-83
377.5
MNB012
10 North
510,871
6,062,333
236
295
-47
120
Abandoned
MNB013
10 North
510,871
6,062,333
236
295
-61
260.25
MNB014
10 North
510,871
6,062,333
236
295
-70
323.5
MNB015
10 North
510,871
6,062,333
236
295
-81
350.5
MNB016
9 North
510,841
6,062,303
236
295
-47
140.5
Abandoned
MNB017
9 North
510,841
6,062,303
236
295
-59
251.5
MNB018
9 North
510,841
6,062,303
236
295
-70
302.5
MNB019
9 North
510,841
6,062,303
236
295
-78
328.5
MNB020
8 North
510,825
6,062,267
236
295
-70
302.5
MNB021
8 North
510,825
6,062,267
236
295
-79
350.5
MNB022
8 North
510,825
6,062,267
236
295
-58
260
MNB023
8 North
510,825
6,062,267
236
295
-46
62.5
Abandoned
MNB024
7 North
510,812
6,062,230
236
295
-75
342
MNB025
7 North
510,812
6,062,230
236
295
-67
308.5
Notes: Easting and Northing units are in metres using NAD83 datum, UTM Zone 14N
Handheld pXRF Procedures
Handheld portable XRF ("pXRF") results do not replace traditional laboratory-based analysis, however
the results do provide an effective screening tool for the determination of nickel-copper-cobalt sulphides
for selecting samples for geochemical assay analysis. pXRF analyses were taken on every 10 cm to 50
cm of the surface of the core as spot analyses with a 1 cm view window wherever visible sulphides
and/or ultramafic rock types were present. The pXRF model used was a Niton XL5, operated by Metal
Energy Corp staff on site.
The reader is cautioned that these results might not reflect laboratory-quality
results and therefore should only be viewed as an initial screening for the presence of nickel-copper-
cobalt sulphides within the drill hole.
Other News
CanAlaska will be presenting at the Red Cloud Fall Mining event on November 9, 2022 (
Fall Mining
Showcase 2022 | Red Cloud (redcloudfs.com)
).
The Company was recently featured by BTV on the BNN Bloomberg Channel. An update on the
Company's activities can be viewed in the feature at the following link:
CanAlaska Uranium: Advancing
the West McArthur Project (b-tv.com)
The Company was recently featured on Crux Investor. Watch the video for an update on the Company's
activities and plans for its recent $10 million private placement at the following link:
CanAlaska Uranium
(CVV) - Funded Exploration Drilling More High-Grade - YouTube
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/143424