CanAlaska Stakes 58,747 Hectare Intrepid East and West Projects in Northeastern Athabasca Basin Priority Basement and Unconformity Uranium Targets Associated with Structural Corridors Management Attending CEM Scottsdale Capital Event April 19 to 21
CanAlaska Stakes 58,747 Hectare Intrepid East
and West Projects in Northeastern Athabasca
Basin
Priority Basement and Unconformity Uranium Targets Associated with Structural Corridors
Management Attending CEM Scottsdale Capital Event April 19 to 21
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2024) -
CanAlaska Uranium Ltd. (TSXV:
CVV) (OTCQX: CVVUF) (FSE:
DH7)
("CanAlaska" or the "Company") is pleased to announce the
Company's newly acquired Intrepid East and Intrepid West projects (the "Projects"), totalling 29,258 and
29,489 hectares, respectively. The Intrepid projects are located in the northeastern Athabasca Basin,
approximately 20 kilometres north of the high-grade Hurricane Uranium Deposit (Figure 1).
Figure 1 – Intrepid East and Intrepid West Project Locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/205742_1efc5ad9a4d06982_002full.jpg
The Intrepid projects are part of the Company's strategy to position and focus landholdings in the
infrastructure-rich eastern Athabasca Basin. Land acquisitions in this part of the Athabasca Basin are
deliberately focused on staking the interpreted structural corridors that are host to, or geologically similar
to, Key Lake, Eagle Point, and Arrow uranium deposit analogues. The Intrepid projects are well situated
in relation to several other projects in the Company's portfolio and to critical infrastructure such as power,
road, and the McClean Lake uranium mill. These new projects are part of CanAlaska's ongoing project
generator business and the Company will seek strategic partners to advance these and other
CanAlaska-owned assets.
CanAlaska CEO, Cory Belyk, comments,
"The Intrepid East and West projects were identified by the
geoscientists and host exploration targets very similar to some recent successful uranium discoveries
in the eastern Athabasca Basin. This area has not been extensively explored based on this new
knowledge, which provides significant discovery potential with the right investment and the correct
exploration thesis. The Company will actively seek joint venture partners to move these quality assets
toward discovery. The uranium market continues to be strong in what should be a multi-decade
nuclear buildout on a global scale."
Figure 2 – Intrepid East and Intrepid West Target Areas
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About Intrepid East and West Projects
The Intrepid East and West projects are located just inside the northeastern edge of the present-day
Athabasca Basin. The Projects are located approximately 20 kilometres north of the high-grade
Hurricane uranium deposit (48.61 million pounds U
3
O
8
at 34.50% U
3
O
8
indicated and 2.66 million
pounds U
3
O
8
at 2.20% U
3
O
8
inferred
1 (refer to "References" below)
). The Projects are covered by
approximately 50 - 400 m of Athabasca Basin sandstone that is underlain by basement rocks of the
Mudjatik Domain. The Projects have undergone minimal exploration despite their proximity to Highway
905 and the McClean Lake Mill. Exploration during the 1960's - 1980's consisted of reconnaissance
scale airborne geophysical surveys for magnetics, electromagnetics, and radiometrics. These
geophysical surveys were followed by geological mapping and wide-spaced prospecting and lake
sediment geochemistry programs both on the Projects and surrounding trends. The lake sediment
geochemical surveys along trend identified anomalous uranium values, up to 15.1 ppm uranium, just off
property (Figure 2). A MEGATEM survey was conducted that covered half of the Intrepid East Project
and all of the Intrepid West Project in the mid-2000's and identified a series of EM anomalies within the
Projects. To date, no known historical drilling has been completed within the Projects.
A series of east-west trending magnetic low structural corridors have been identified, which are
interpreted to represent belts of metasedimentary rocks. Additionally, numerous north-south trending
magnetic low structural corridors have been identified that offset the east-west trends and are interpreted
to be related to the large-scale Tabbernor fault system. The Company believes the intersection between
these north-south structural trends and the east-west trending metasedimentary rocks may create
important conduits and structural traps for hydrothermal activity and the deposition of uranium, as
observed elsewhere in the Athabasca Basin (Figure 2). The Company believes opportunities for both
unconformity-associated and basement-hosted uranium discoveries exist on the Projects.
Other News
The Company will have management representatives at the CEM Scottsdale Capital Event from April 19
- 21
st
.
CEM Scottsdale
References
1
.
Refer to
https://www.isoenergy.ca/featured-project/
for "
Technical Report on the Larocque East Project, Northern Saskatchewan,
Canada"
dated July 12, 2022, for information on the Hurricane uranium deposit.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately
500,000 hectares (1,235,000 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 on the West McArthur JV project and Denison on the Moon Lake South
JV project 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 Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for
this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium
Ltd., who has reviewed and approved its contents.
Technical Disclosure: The historical results contained within this news release have been captured from
Saskatchewan Mineral Assessment Database ("SMAD") reporting as available and may be incomplete
or subject to minor location inaccuracies. Management cautions that historical results were collected and
reported by past operators and have not been verified nor confirmed by a Qualified Person but form a
basis for ongoing work on the subject properties. Management cautions that past results or discoveries
on proximate land are not necessarily indicative of the results that may be achieved on the subject
properties.
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:
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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https://www.newsfilecorp.com/release/205742