CanAlaska Drilling Discovers VMS at Nisku, Northern Manitoba Intersects massive sulphide with zones of elevated copper- gold-silver
TSX Venture Exchange: CVV
NEWS RELEASE
CanAlaska Drilling Discovers VMS at Nisku, Northern Manitoba
Intersects massive sulphide with zones of elevated copper- gold-silver
Vancouver, Canada, May 16, 2017 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB:
CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce results
from the four reconnaissance drill holes at t he Nisku target located 7 kilometres east of
CanAlaska’s North Ruttan copper-zinc property in the Leaf Rapids area of northern Manitoba.
Drilling intersected massive iron sulphides between surface and 150 metres depth, with
elevated copper mineralization in holes NSK001, NSK002 and NSK003. Drill hole NSK004
located to the east intersected volcanics with minor sulphides. The drilling tested a coincident
VTEM magnetic and electromagnetic target, which has the characteristics of a large
volcanogenic massive sulphide (VMS) deposit. The target is located 10 kilometres east of the
past producing Ruttan copper-zinc massive sulphide mine. The Ruttan mine was one of the
largest VMS deposits in Canada.
News Release Page 2 May 16, 2017
Drill holes NSK001, NSK002, and NSK003 showed elevated copper, silver, as well as local gold
and arsenic in the volcanics and in sulphidic argillite. Drill hole NSK003 showed an upper and
lower section of elevated copper-silver mineralization. At 85 metres depth the lower zone shows
copper and silver associated with gold-arsenic mineralization in the lower section. This lower 11
metre section averaged 0.05% Cu with values up to 0.58 g/t gold and 3.3 g/t Ag and over 1%
arsenic. Locally intense chlorite and biotite mineralization overprints the rock, and there are
additional zones of quartz carbonate alteration and altered feldspar porphyry dykes.
Drill holes NSK001 and NSK002 intersected multiple zones of massive and semi massive
pyrrhotite mineralization with local elevated silver and gold-arsenic mineralization. Drill hole
NSK002 undercut drill hole NSK001, and showed there is significant disruption of the
stratigraphy with lack of continuity of the banded iron formation and feldspar porphyry dykes, but
elevated copper was intersected in both drill holes.
The Nisku target represents a zone of VMS mineralization along a 1 km geophysical target
within a volcanic-sedimentary sequence extending the whole length of the Nisku property. The
recent drilling has set the framework for more detailed interpretation of the zone and the
localization of the expected feeder pipes proxim al to the massive sulphides and stratigraphic
rock package intersected in these first four drill holes. Additional information on the Ruttan and
Nisku targets and the recent drilling is posted on the CanAlaska website at
http://www.canalaska.com/s/BaseMetals.asp?ReportID=776300
CanAlaska President Peter Dasler commented, “The Nisku drilling has confirmed another VMS
target on our Ruttan area claims. It is encouraging to see the same association of copper-gold-
silver mineralization as we see in our nearby North Ruttan project. The North Ruttan VMS zone
has always been associated with high gold values, and it is encouraging to see that this system
appears to be repeated 7 km to the east. Both targets have only been tested to a depth of 150
metres and are now awaiting further infill and deeper drilling.”
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in
approximately 500,000 hectares (1.2 million acres), one of the largest land positions in Canada’s
Athabasca Basin region – the "Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted
major international mining companies Cameco, Deni son, KORES, and KEPCO. CanAlaska is a project
generator positioned for discovery success in the world’ s richest uranium district. For further information
visit www.canalaska.com.
The qualified technical person for this news release is Dr Karl Schimann, P. Geo, VP Exploration, for
CanAlaska.
On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.
Contacts:
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: [email protected]
News Release Page 3 May 16, 2017
John Gomez, Corporate Development
Tel: +1.604.484.7118
Email: [email protected]
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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, event s 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 Comp any 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 s ubstantial 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.