CanAlaska Stakes 11,143 Hectare Constellation Project in Eastern Athabasca Basin 18 Kilometres of Priority Basement Uranium Target Corridors Identified 60 Kilometres from the Key Lake Uranium Mine and Mill
CanAlaska Stakes 11,143 Hectare
Constellation Project in Eastern Athabasca
Basin
18 Kilometres of Priority Basement Uranium Target Corridors Identified
60 Kilometres from the Key Lake Uranium Mine and Mill
Vancouver, British Columbia--(Newsfile Corp. - September 14, 2023) -
CanAlaska Uranium
Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N)
("CanAlaska or the "Company") is pleased to
announce the Company's newly acquired Constellation project, totalling 11,143 hectares. The
Constellation project (the "Project") is located in the southeastern Athabasca Basin, approximately 60
kilometres south of the Key Lake Mine and Mill Complex along Highway 914 (Figure 1).
Figure 1
– Enterprise Project Location
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The Constellation project is part of the Company's strategy to position and focus its landholdings in the
infrastructure-rich southeastern Athabasca Basin. Land acquisitions in this part of the Athabasca Basin
region are deliberately focussed on staking the interpreted structural corridors that are host to, or
geologically similar to, Key Lake, Eagle Point, and Arrow uranium deposit analogues. Constellation is
perfectly situated in relation to several other projects in the Company's portfolio and to critical
infrastructure such as power, road, and Key Lake mill. This new project is part of CanAlaska's ongoing
project generator business and the Company will seek strategic partners to advance these and other
CanAlaska-owned assets.
Figure 2
– Constellation Target Corridor Locations
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CanAlaska CEO, Cory Belyk, comments:
"CanAlaska continues to focus its project generation within
the eastern Athabasca Basin region near all the critical infrastructure and in areas with the right
geological features. Constellation has all the indicators of the right technical merits for basement-
hosted uranium deposits to occur in an area that is vastly underexplored. Congratulations to the
CanAlaska team for identifying and capturing this opportunity for our shareholders as we start to move
into the next uranium bull market. We will actively seek new joint venture partners to help move
Constellation forward."
Constellation Project
The Constellation project is located approximately 60 kilometres south of the present-day Athabasca
Basin edge. The project has undergone minimal historical exploration despite its proximity to Highway
914 and the Key Lake Mine and Mill. Early exploration in the 1960's and 1970's consisted of
reconnaissance scale airborne geophysical surveys for magnetics, electromagnetics, and radiometrics.
These historical surveys identified electromagnetic conductors associated with magnetic lows that flank
magnetic highs, which is an analogous geological framework for Athabasca style uranium deposits.
These geophysical surveys were followed by geological mapping and wide-spaced prospecting
programs both on Property and along trend to the south. Prospecting along trend identified outcrop-
hosted high-grade uranium mineralization in Getty-Minerals Zones 2-6 and 2-3, located approximately
10 kilometres from the project boundary (Figure 2). These showings returned uranium mineralization
from grab samples in outcrop grading
2.787% U
3
O
8
and 4.60% U
3
O
8
. The mineralized magnetic low
corridor along which the Getty-Minerals Zones are hosted trends onto the Constellation project. In the
early 2000's, geological mapping and geochemical sampling on the project confirmed the magnetic high
is a central core of Archean gneiss which is flanked by graphitic metasediments. In addition, structural
lineaments in the magnetic lows were interpreted, and may represent large scale faulting.
The Company believes the central Archean gneiss core forms a structural lozenge or competency
contrast which may create important conduits and structural traps for hydrothermal activity and the
deposition of uranium. The northeast-southwest oriented magnetic lows represent three target corridors
with the potential for structural re-activation. In total, the Constellation project contains over 18 kilometres
of untested prospective target area.
Other News
The Company is drilling at its West McArthur uranium project in the Eastern Athabasca Basin.
The primary objective of the drill program is advancing the Pike Zone discovery, including continued
focus on expansion of basement-hosted high-grade uranium mineralization as well as continued
unconformity target testing.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) holds interests in
approximately 350,000 hectares (865,000 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
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.604.688.3211 x 138
Email:
General Enquiry
Tel: +1.604.688.3211
Email:
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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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