CanAlaska Stakes Fifth Thompson Nickel Belt Project 1,876 hectares (4,690 acres) covering Halfway Lake ultramafic sequence Targets adjacent to Halfway Lake sulphide nickel deposit Southern claims host historic 15.8 metre intersection of 0.55% nickel
CanAlaska Stakes Fifth Thompson Nickel Belt
Project
1,876 hectares (4,690 acres) covering Halfway Lake ultramafic sequence
Targets adjacent to Halfway Lake sulphide nickel deposit
Southern claims host historic 15.8 metre intersection of 0.55% nickel
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2021) -
CanAlaska Uranium Ltd. (TSXV:
CVV)
(OTCQB:
CVVUF) (
FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to announce that it
has staked 2 new claim blocks covering 1,876 hectares (4,690 acres) at Halfway Lake in the central
Thompson Nickel Belt, northeast of Wabowden, Manitoba. The claims cover known mineralized nickel
zones and are adjacent to the Halfway Lake nickel deposit owned by CaNickel. All of the claims are
located close to highway 391 and benefit from adjacent rail and power infrastructure.
Figure 1
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The new claims cover the southern and northern portions of the Halfway Lake synform, which is a 17
kilometre fold structure of Ospwagan Group sediments. These claims are located 25 kilometres
northeast of the Bowden Lake nickel mine and adjacent to the Halfway Lake nickel deposit.
The claims cover numerous folded ultramafic lenses within the prospective Pipe Formation, as shown on
Figure 1. The structural setting of the mineralization in the Halfway Lake synform appears to be most
similar to the main Thompson nickel deposit and mine. In the Thompson Nickel Belt the maximum
potential for high-grade nickel mineralization resides in the association of ultramafic and Pipe Formation
rocks.
Figure 2
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The Halfway Lake nickel deposit (900,000 tonnes @1.2% Ni) is hosted in an ultramafic sill which is
visible on airborne EM and magnetic surveys. The northern targets staked by CanAlaska follow these
geophysical features south of the Halfway Lake deposit and cover repetitions in similar structural
settings that are untested (figures 2 and 3).
The southern block includes a series of mineralized drill holes. Historic drill hole "W62D" contains 15.8
metres of 0.55% Ni, including 4.6 metres @ 1.13% Ni and 4.9 metres @ 0.76% Ni. The nickel tenor of
these intersections is high and range from 15 to 25% (Figure 2).
Figure 3
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CanAlaska CEO, Cory Belyk, comments; "CanAlaska's team continues to identify sulphide nickel
opportunities in Manitoba with high-potential to deliver a mineable deposit. Much of the Thompson
Nickel Belt has not been explored with modern geophysics presenting significant opportunity to identify
new and untested targets for sulphide nickel mineralization. As the world moves ever-increasingly toward
green energy solutions and overall electrification, CanAlaska is positioning itself and its shareholders for
participation in that future. CanAlaska's project portfolio is targeted and purposeful, and has exploration
projects capable of discovering the metals necessary for clean energy production, energy transmission
and energy storage solutions. CanAlaska's portfolio is truly unique and built for the future. We look
forward to forming new Joint Ventures with interested exploration companies to move our projects
forward toward discovery."
Other News
CanAlaska is currently processing winter drill results from its 100% owned Waterbury Uranium project in
the Athabasca Basin near the Cigar Lake uranium mine.
The Company is gearing up for its West
McArthur drilling program scheduled to start in mid-August. The Company is also awaiting drill permitting
for the Strong nickel project in Manitoba.
The Company's Manibridge nickel project is currently under a
new third party agreement and has drill permits in place.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in
approximately 214,000 hectares (530,000 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
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email:
Peter Dasler, President
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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