CanAlaska Drilling into Uranium Target West McArthur Drill program started June 24; Three month program targets further high-grade uranium
CanAlaska Drilling into Uranium Target
West McArthur Drill program started June 24; Three month program targets
further high-grade uranium
Vancouver, British Columbia--(Newsfile Corp. - June 28, 2019) -
CanAlaska Uranium Ltd. (TSXV:
CVV
) (OTCQB:
CVVUF
)
(FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to report that drilling has commenced at the West McArthur uranium
project to expand current high grade uranium mineralization discovered in holes drilled by Cameco during their recent work
programs on the property.
The project is a 70/30 joint venture controlled by CanAlaska.
The program is intended to locate high-grade uranium hosted in faults along the C10 horizon, the major regional fault structure.
Two previous drill holes intersected high-grade uranium - up to 5% U3O8 - just west of the projection of the C10 horizon and near
the unconformity contact. CanAlaska believes the controlling structure of this high-grade mineralization has yet to be intersected
in drilling.
The C10 conductor target features are shown in the following figure, and in further detail on the company website
www.canalaska.com
Figure 1
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/45967_d8da6418648de864_001full.jpg
The summer drill program is being operated by CanAlaska, and follows on the three-year target definition by Cameco's drill
team.
The ten holes drilled along a 1.6 kilometre (one mile) long stretch of Grid 5 included three significant uranium mineralized
drill holes. The wide spaced drilling also mapped an extensive zone of intense fluid alteration extending into the sandstone
above the unconformity with basement rocks. The alteration rises 700 metres above the unconformity and is marked by broad
halos of uranium, boron, arsenic and accompanying base metals, typical environments of major uranium deposits in the
Athabasca Basin. The alteration and geochemical influx are associated with steep faults observed in the drill holes within the
sandstone.
CanAlaska President Peter Dasler comments, "The extent of the mineralization and in multiple areas over 1.6 kilometres (one
mile) provides the scenario for a "Tier One" mineralizing event similar to the nearby world class McArthur River and Cigar Lake
mines. We are fully financed to carry out the work program. This is truly a break-out discovery opportunity for CanAlaska."
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 152,000 hectares
(375,000 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 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
CanAlaska Uranium Ltd.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/45967