CanAlaska Announces Manibridge Diamond Drilling Program Intersects Nickel Nickel-Bearing Sulphides Intersected In All Drillholes; 10,000 Metre Follow-Up Drill Program Planned for June
CanAlaska Announces Manibridge Diamond
Drilling Program Intersects Nickel
Nickel-Bearing Sulphides Intersected In All Drillholes; 10,000
Metre Follow-Up Drill Program Planned for June
Vancouver, British Columbia--(Newsfile Corp. - May 3, 2022) -
CanAlaska Uranium Ltd. (TSXV:
CVV
)
(OTCQB:
CVVUF
) (FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to announce that it has
successfully completed a six drill hole 2,350 m drill program on the high-grade Manibridge nickel project
in the Thompson Nickel Belt, Manitoba (Table 1). The drill program was focused within one kilometre of
the past-producing high-grade Manibridge 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).
Figure 1 – Manibridge Property Location
To view an enhanced version of Figure 1, please visit:
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The drill program intersected disseminated and remobilized nickel-copper sulphide mineralization in all
six drillholes
(Figure 2). Occurrences of massive and net-textured sulphides were intersected 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.
This drill program was solely funded by Metal Energy Corp. ("Metal Energy") as part of a staged earn-in
option agreement with CanAlaska as operator. In future programs, operatorship of the project will be
handled by Metal Energy, as per the agreement, and they are planning a 10,000 metre follow-up drill
program starting in June of this year.
CanAlaska CEO, Cory Belyk, comments,
"This inaugural drilling program successfully confirmed the
presence of nickel mineralization and extended known zones of mineralization. The market for
sulphide nickel continues to be strong and it remains the right time to move this project forward for our
shareholders. It is anticipated that Metal Energy's continued exploration funding as part of the earn-in
agreement will continue to drive this project toward further discovery in 2022 for the benefit of all
shareholders."
Figure 2 - Winter 2022 Drill Holes Within Manibridge Mineralization Shell (Looking West)
To view an enhanced version of Figure 2, please visit:
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Table 1 - Winter 2022 Diamond Drill Hole Collar Data (UTM NAD83 Datum, Zone 14N)
DDH
Target
Area
Easting
(m)
Northing
(m)
Elevation
(m)
Azimuth
(˚North)
Dip
(˚)
EOH
(m)
MNB001
Manibridge
Mine
511145
6062665
236
272
-71.5
338
MNB002
Manibridge
Mine
510891
6062315
236
293.5
-72.6
352
MNB003
Manibridge
Mine
510854
6062210
237
292
-72.5
369
MNB004
Manibridge
Mine
510762
6062175
236
295
-55.5
272
MNB005
Manibridge
Mine
510723
6062083
237
298
-53.0
284
MNB006
Manibridge
Mine
510936
6061699
244
268
-75.0
735
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.
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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