CanAlaska Reports 7.95% Uranium at West McArthur High-grade uranium mineralization with 6.7% copper, 2.8% lead, 6.8% zinc; Strong halo of uranium, boron, copper and zinc in overlying sandstone structures
CanAlaska Reports 7.95% Uranium at West McArthur
High-grade uranium mineralization with 6.7% copper, 2.8% lead, 6.8% zinc;
Strong halo of uranium, boron, copper and zinc in overlying sandstone
structures
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2019) -
CanAlaska Uranium Ltd. (TSXV:
CVV
) (OTCQB:
CVVUF
) (FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to report high-grade uranium in final assay data for the
recent drill program at the West McArthur uranium project.
The mineralization, containing high uranium as well as base metal
mineralization, is similar in character to the nearby high-grade Fox Lake uranium deposit of Cameco and Orano. The West
McArthur project is a joint venture with Cameco. CanAlaska is the operator.
Assay data for the latest drill holes, in particular for drill hole WMA055-2, has upgraded earlier eU
3
O
8
values reported in our
September 24 news release. Table 1 shows the individual assay data for drill hole WMA055-2, including
0.70 metres @ 6.8%
U
3
O
8
within
2.1 metres averaging 2.3% U
3
O
8
. Note that the three metre run above the mineralized section had 51% core loss.
Table 1: Geochemical assay for drill hole WMA055-2
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The unconformity-related uranium mineralization in drill hole WMA055-2 is supported by a strong uranium, boron and base metal
geochemical signature in the overlying sandstone extending hundreds of metres above the unconformity. This plume of
mineralization and enrichment is directly related to structures in the sandstone which are tied to major basement faults. The multi-
element geochemical signature follows these structures to surface in an adjacent drill-hole, testifying to the intensity of the
hydrothermal system occurring in the Grid 5 area.
Figure 1
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CanAlaska's summer program was focussed on locating high-grade uranium hosted in faults along the C10 target horizon. This
horizon hosts Cameco and Orano's Fox Lake deposit of 68,000,000 pounds at an average grade of 7.99% U
3
O
8
located only a
few kilometres to the northeast. Two previous drill holes in the Grid 5 area, WMA042 and WMA042-2, intersected high-grade
uranium (up to 4% U
3
O
8
) approximately 50 metres north of this summer's drill hole WMA055-2. The summer drill program
progressively tracked mineralization to the south of these intersections. Drilling completed to date is north of the C10 target
horizon and the controlling basement structure of this high-grade mineralization has yet to be intersected, however, the
combination of high-grade uranium mineralization, multi-element geochemical signature, strong faulting, core loss and intense
clay alteration present above the unconformity suggest the presence of additional fertile uranium-bearing structures in the
immediate vicinity of WMA055-2 (Figure 1)
Table 2, Mineralized Intersections Geochemical Assay
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CanAlaska President Peter Dasler comments, "We are vectoring into the target. The uranium assays coincide with the intense
alteration which was noted in the drill core and are a significant upgrade to the radiometric results. Multiple re-assays were
completed on the high-grade samples with repeated results and have given an upgrade to downhole radiometric data. We
expect to see further uranium mineralization within the immediate vicinity of the current drilling and possibly several hundred
metres west of this high-grade intersection where, in this year's drill hole WMA054, we also intersected significant uranium
mineralization associated with faulted sandstone 350 metres above the C10 target."
CanAlaska field geologists under the supervision of Dr. Karl Schimann collected continuous half metre split-core samples of all
radioactive core which were shipped in secure containment to the SRC Laboratories in Saskatoon. Partial digestion
(HNO2:HCl) and total digestion (HF/HNO3/HClO4) analyses were completed by ICP MS. The laboratory inserts standards with a
matrix relevant to the rock type (sandstone or basement) and does systematic repeat analyses. The high grade samples in drill
hole WMA055-2 were re-analyzed by U
3
O
8
ICP assay using higher grade standards. The values shown in table 2 are total
digestion uranium and in the case of the high grade in WMA055-2 the results represent the U
3
O
8
ICP re-assay.
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
Contacts:
Peter Dasler, President
Tel: +1.604.688.3211
x 138
Email:
Cory Belyk, COO
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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