CanAlaska Stakes Historical Uranium Showings Near 92 Energy and Baselode Energy Uranium Drillhole Intersections Six High-Priority Target Areas Identified Along Major Structures
CanAlaska Stakes Historical Uranium
Showings
Near 92 Energy and Baselode Energy Uranium Drillhole Intersections
Six High-Priority Target Areas Identified Along Major Structures
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2021) -
CanAlaska Uranium Ltd. (TSXV:
CVV
) (OTCQB:
CVVUF
) (FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to announce that
compilation work on the Company's newly acquired Geikie project totalling 33,897 hectares in the
eastern Athabasca Basin has identified six new uranium targets along 35 kilometres of major structures
(figures 1 and 2). The targets are outlined by coincident magnetic breaks and prospective geology
offsets just 10 kilometres from 92 Energy's Gemini mineralization (GM) and Baselode Energy's ACKIO
and Beckett mineralization, and only 10 kilometres from a major highway.
Figure 1
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CanAlaska's Geikie property straddles the extension of a fertile corridor of biotite gneisses hosting the
Agip S high-grade uranium showing
with up to 49% U
and the recent Baselode Energy radioactive
intersections near Beckett Lake on the Hook Lake property (Figure 2). The latter appears similar to 92
Energy's GM uranium zone near where Baselode has also intersected elevated radioactivity.
The presence of biotite gneiss, graphitic gneiss and calcsilicate (mafic gneiss) lithologies provides the
contrast in rock strength and chemistry to create the pathway for structural disturbance together with the
reducing conditions necessary to precipitate uranium. At least two large north-south trending Tabbernor
faults interact with and displace these fertile uranium corridors creating ideal conditions for uranium
deposits to form.
Figure 2
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Several historical uranium showings occur on the property
with grades as high as 0.225% U
identified
(Figure 2). The presence of Athabasca Group sandstone boulders in the project area demonstrates that
the Athabasca Basin once covered this area indicating good potential for high-grade basement-hosted
unconformity-related uranium deposits to form similar to NexGen's Arrow and Cameco's Eagle Point
and Millennium uranium deposits.
CanAlaska CEO, Cory Belyk, comments,
"CanAlaska continues to deploy its project generator model
in the world's most prolific uranium district. Our team recognized the underexplored opportunity in this
region of the eastern Athabasca Basin in conjunction with recent exploration success indicators, and
acquired this very large contiguous land position just prior to the recent uranium staking rush. We look
forward to working with a new joint venture partner to move this project forward."
Other News
The Company is currently drilling on its West McArthur Joint Venture Project in the 42 Zone discovery
area, a joint venture with Cameco Corporation. The Company's other joint venture partner, Denison
Mines, is currently drilling on the Moon Lake South project.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in
approximately 300,000 hectares (750,000 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
"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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