Drilling Commences at CanAlaska's Copper- Gold Project Focus on 1.5 km zone of historic porphyry copper-gold showings
Drilling Commences at CanAlaska's Copper-
Gold Project
Focus on 1.5 km zone of historic porphyry copper-gold
showings
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2021) -
CanAlaska Uranium Ltd. (TSXV:
CVV
) (OTCQB:
CVVUF
) (FSE:
DH7N
)
("CanAlaska" or the "Company") is pleased to announce that
Omineca Mining and Metals Ltd. has commenced diamond drilling at CanAlaska's 100%-owned Mouse
Mountain porphyry copper-gold project near Quesnel, British Columbia. A 1,600 metre drilling program
will test multiple copper-gold targets along a large 1.5 kilometre zone defined by earlier exploration.
Omineca can earn a 50% interest in Mouse Mountain by incurring 2,000 metres of diamond drilling and
issuing 300,000 shares to CanAlaska.
The project is centered on Mouse Mountain, 12km east of Quesnel, BC. The geology hosts a
hydrothermal system with copper-gold mineralization spread over a large area - over 1.5km along strike
- associated with typical copper porphyry style alteration. Additional smaller copper showings extend
further out from this system indicating potential for a large-scale porphyry copper and gold system.
Mouse Mountain Project
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Previous drilling conducted by various companies focused on surface showings and related resistivity
targets, and did not fully test the surrounding geophysical chargeability anomalies.
The last drill hole
(RVC08-19) completed by Richfield (the previous property operator), intersected a non-magnetic
monzonite breccia assaying 0.36% copper between 398 to 418 meters depth.
This hole is located
immediately adjacent to the northern end of the large chargeability anomaly on the west flank of Mouse
Mountain.
Mouse Mountain is located within the prolific Quesnel Terrane, a major regional mineral belt that hosts
alkaline and calc-alkaline porphyry copper-gold-molybdenum deposits. The Quesnel terrane extends for
2,000 km northward from the Canada-US border and hosts among the province's largest copper mining
operations including the Gibraltar, Mount Milligan, and Copper Mountain mines.
Locally the Mouse Mountain area is underlain by a large intrusive system. Historical IP surveys provide
chargeability targets associated with magnetic embayments, and these are the focus on the initial drill
program.
CanAlaska President, Peter Dasler, comments, "The property lies within a major trend of Tier 1 porphyry
copper and copper-gold deposits and is located close to established infrastructure.
We are looking
forward to working with Omineca to advance the existing discoveries."
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 & CEO
CanAlaska Uranium Ltd.
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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