CanAlaska Completes Initial Drilling at Waterbury First holes contain encouraging fault structures and alteration Thick graphitic basement package intersected
CanAlaska Completes Initial Drilling at
Waterbury
First holes contain encouraging fault structures and alteration
Thick graphitic basement package intersected
Vancouver, British Columbia--(Newsfile Corp. - April 21, 2021) -
CanAlaska Uranium Ltd. (TSXV:
CVV)
(FSE:
DH7N
)
("CanAlaska" or the "Company") has curtailed winter drilling on its 100%-owned
Waterbury uranium project. Late permitting and warming weather conditions hampered activities. Only
half of the planned winter program was completed. Three drill holes, were completed on the South claim,
and none on the East. The focus was to test targets near previously drilled holes which showed
significant alteration, uranium values and untested geophysical targets on both the East and South
Waterbury claims.
The target on the Waterbury South claim is close to the interpreted location of the regional Rabbit Lake -
Collins Bay fault system, host to the Rabbit Lake, Collins Bay and Eagle Point uranium orebodies
(Figure 1).
Figure 1
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One hole targeted the unconformity one kilometre northeast of drill hole SOD-253 where a resistivity
anomaly from a survey completed by CanAlaska highlighted a distinct unconformity breach style anomaly
above the basement conductor (Figure 2).
The drillhole located a thick graphitic sequence in the
basement and graphitic faults associated with anomalous alteration overprint. The ideal unconformity
target related to these structures and alteration remains untested at this stage.
Figure 2
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A further two holes tested the unconformity for 150 metres southeast of failed Cameco drill hole SOD-
253 and found the basement structures that were the focus of that program.
The historic drillhole been
abandoned above the unconformity in a faulted and altered section of Athabasca sandstone.
CanAlaska's new drillholes passed though the sandstone and intersected a thick sequence of graphitic
rocks in the basement.
Notably the basement has a zone of strong faulting, and wide sections of very
intense alteration consisting of clay, secondary hematization, and dravite, which together are prime
signatures of fluid flow associated with uranium mineralizing events in the Athabasca region.
The new drill fence only extends to a point under the abandoned historic Cameco drill hole.
Unfortunately,
there was insufficient time available to drill a further hole to test the intersection of this basement
structure with the unconformity, due to warming weather.
The prime target for uranium mineralization is at
the intersection of the basement structures with the unconformity, now determined to be just in front of the
current drill fence.
Image of Waterbury Site
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Core samples were collected and sent to the Saskatchewan Research Council (SRC) for geochemical
analysis. Samples for clay analysis are currently being processed.
President Peter Dasler commented:
"The drill team has confirmed the geophysical interpretation of
strongly altered basement and sandstone with underlying reactive graphitic sediments. These are a
very encouraging features for us to focus our next drill program at Waterbury South.
It is unfortunate
that timing and weather did not allow further holes this season, however we have significantly
upgraded the current target at Waterbury south, and look forward to getting another chance for
discovery."
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (FSE: DH7N) holds interests in approximately 214,000 hectares
(530,000 acres), in Canada's Athabasca Basin and Wollaston area - 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 Dr Karl Schimann, P. Geo, CanAlaska director
and VP Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President & CEO
Contacts:
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email:
Cory Belyk, COO
Tel: +1.604.688.3211 x 306
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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