CanAlaska Confirms High-Grade Uranium Mineralization in New Uranium Zone at West McArthur Geochemical Assay Results Confirm Basement-Hosted Uranium Mineralization with 2.4% U 3 O 8 over 9.0 metres High-Grade Interval Includes 3.5% U
CanAlaska Confirms High-Grade Uranium
Mineralization in New Uranium Zone at West
McArthur
Geochemical Assay Results Confirm Basement-Hosted Uranium Mineralization with 2.4% U
3
O
8
over 9.0 metres
High-Grade Interval Includes 3.5% U
3
O
8
over 6.0 metres
Summer Drill Program Continuing on West McArthur Project
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2022) -
CanAlaska Uranium Ltd. (TSXV:
CVV)
(
OTCQX:
CVVUF)
(FSE:
DH7N
)
("CanAlaska or the "Company") is pleased to announce it has
received assay results from drill hole WMA067, the first drill hole into a new basement-hosted uranium
discovery on the West McArthur project (Figure 1). Geochemical assay results indicate a high-grade
intersection of
2.4% U
3
O
8
over 9.0 metres from 906.5 m to 915.5 m, including a higher-grade
interval of 3.5% U
3
O
8
over 6.0 metres from 906.5 metres
. The Company is continuing its drilling
program at the West McArthur project as part of the $5 million 2022 program, focusing its effort on the
expansion of this exciting new uranium discovery. The West McArthur project is operated by CanAlaska,
which currently holds a 78.00% 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/2864/134414_8e85a3dac44bd8a4_002full.jpg
Drill hole WMA067 was designed to test a strong conductor anomaly identified during the 2022 winter
geophysical program, 6 kilometres along strike to the southwest of the Company's 42 Zone
mineralization (Figure 2).
Figure 2 – WMA067 Drill Hole Location Relative to 2022 Geophysical Survey Grid
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2864/134414_8e85a3dac44bd8a4_004full.jpg
WMA067 penetrated 52.8 metres of overburden followed by Athabasca sandstone to 803.8 metres. The
lower 80 metres of the sandstone column is strongly bleached with several fault zones containing
limonite alteration and de-silicification. Two major metre-scale fault zones in the basal sandstone, the
lowermost of which straddles the unconformity, are associated with strong clay, limonite, and strongly de-
silicified core resulting in approximately 30% core recovery.
The basement of WMA067 consists of a wide package of graphitic and non-graphitic pelitic
metasedimentary rocks, explaining the 2022 survey conductive response. In the 30-metre interval directly
below the unconformity, the metasedimentary package is overprinted by strong clay, chlorite, and
hematite alteration associated with multiple fault zones that contain clay gouge, broken core, and
cataclastic breccias. The remainder of the basement intersection is variably clay- and chlorite-altered,
increasing in intensity around intervals of increased fracturing, as damage zones to graphitic fault zones.
The intensity of the basement alteration increases with depth, leading up to the basement-hosted
uranium mineralization.
The uranium mineralization in the drillhole is structurally-controlled and located approximately 100 metres
below the unconformity within a broad graphitic shear zone that hosts several re-activated faults. The
uranium mineralization, starting at 906.5 metres, is characterized by massive to semi-massive, vein-
controlled, and disseminated pitchblende with yellow to orange uranium secondaries that are associated
with bleaching, clay, and hematite alteration (Figure 3). Core recovery throughout the basement
intersection is 100%. The geochemical assay intervals are summarized in Table 1.
Figure 3 – Drill Core Photograph from WMA067
To view an enhanced version of this graphic, please visit:
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Table 1 - WMA067 Uranium Geochemical Assay Intersections
DDH
From
(m)
To
(m)
Length
(m)
4
Average Grade
(% U
3
O
8
)
Maximum Grade
(% U
3
O
8
)
WMA067
1,2
906.5
915.5
9.0
2.4
6.1
Including
3
906.5
912.5
6.0
3.5
6.1
1
.
WMA067 was drilled at an azimuth of 325˚ with an inclination of -75.7˚, collared at: 477,282 mE / 6,396,397 mN, 604 m A.S.L. (UTM NAD83
Z13N).
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
with a maximum of 1.0 m of internal dilution.
3
.
Intersection interval is composited above a cut-off grade of 2.0% U
3
O
8
with a maximum of 1.0 m of internal dilution.
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,
"This new discovery drillhole intersection has now been
confirmed by assay results to be wide and high-grade.
It is even wider than originally anticipated. The
style and grade of mineralization is reminiscent of some of the best basement-hosted uranium
drillhole intersections encountered in the Athabasca Basin and at large uranium deposits such as
Eagle Point, Millennium and Arrow. Confirmation of width and grade of mineralization in this drillhole
is an exciting achievement for CanAlaska, its shareholders, and the joint venture at a time when the
world needs more high-grade uranium deposits to be found to support future clean energy demand."
Geochemical Sampling Procedures
Drill core samples were shipped to the Saskatchewan Research Council Geoanalytical Laboratories
(SRC) in Saskatoon, Saskatchewan 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 U3O8 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 0.5 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.
Other News
CanAlaska's latest on-site videos for the West McArthur project can be viewed at
www.canalaska.com
.
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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