CanAlaska Commences Airborne Electromagnetic Survey at Hunter Project in Thompson Nickel Belt

CanAlaska Commences Airborne Electromagnetic Survey at Hunter Project in Thompson Nickel Belt

Company Adds to Strategic Sulphide Nickel Land Package

Focused on Tier 1 High-Grade Nickel Discovery

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce it has commenced an airborne Versatile Time Domain Electromagnetic ("VTEM") Survey on it's 100%-owned Hunter project in the Thompson Nickel Belt (Figure 1). The VTEM Survey consists of 867 line-km's of airborne surveying across the Hunter project to identify conductive targets within the Ospwagan Group metasediments which are host to the nearby world-class Thompson nickel deposits (Figure 2).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/121937_1114a549642b2b36_001.jpg

Figure 1: Hunter Project Location Map

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/121937_1114a549642b2b36_001full.jpg

CanAlaska's Hunter project is located 20 km north of Thompson, Manitoba. The project is underlain by Archean rocks and Ospwagan Group metasediments with ultramafic intrusions. The project area was explored by a variety of companies from the 1950's to 1970's, which led to the discovery of the MEL deposit, located immediately to the east of the Hunter project. Modeled conductor targets along the extensions of host geological horizons that are associated with the MEL deposit trend onto the Hunter project lands. In addition, historical drill intersections on the property and in the surrounding claims have high-grade nickel sulfide mineralization associated with the Ospwagan metasediments. Extensive electromagnetic (UTEM and AMT) and magnetic surveys from 2000-2005 resulted in a number of drill targets, only some of which were drilled tested by Inco. Based on recent compilation work, the Company believes that several significant exploration targets exist on the Hunter project and the VTEM survey, which maps discrete conductive anomalies, will be used in conjunction with the compilation data to further define and prioritize drill targets. The program is being conducted by Geotech Ltd. of Aurora, Ontario and is estimated to be completed in mid- to late-May.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/121937_1114a549642b2b36_002.jpg

Figure 2: VTEM Survey Area Overlain on Geology

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2864/121937_1114a549642b2b36_002full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/121937_1114a549642b2b36_003.jpg
Figure 3: North Thompson Nickel Belt MEL Applications 

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2864/121937_1114a549642b2b36_003full.jpg

The Company is also pleased to report that it has applied for an additional three Mineral Exploration Licenses ("MELs") totaling 25,606 ha of prospective ground to extend it's North Thompson Nickel Belt land package (Figure 3). The land application was based on a compilation of VTEM anomalies and a revised geological map that takes into account the magnetic and electromagnetic geophysical data along with the historical drilling. Historical drilling within the newly applied MELs intersected Ospwagan Group metasediments and ultramafics (Thompson Mine Sequence), which are host to many high-grade nickel deposits in the Thompson Nickel Belt. In addition, a VTEM survey completed in 2008 identified an abundance of priority anomalies and targets that were never followed up with diamond drilling. Based on this compilation work, the Company interprets the prospective geological corridor related to the Thompson Mine Sequence, outlined by the Ospwagan metasediments and ultramafics within intercalated Archean gneisses, to extend into the Wilson, Strong Extension, and Moak North, MEL application areas. Work is ongoing to develop targets for future exploration programs.

CanAlaska CEO, Cory Belyk, comments, "This airborne survey at Hunter is designed to generate drill-ready targets for future exploration programs and will complement the many drill-ready targets on CanAlaska's adjacent Strong project. The new MEL applications cover highly prospective lands for high-grade sulphide nickel discovery in the 5th largest nickel belt in the world and near to Vale's Thompson operations. These projects will provide CanAlaska shareholders with a nickel exploration portfolio second to none, purposefully designed to take advantage of a carbon-free energy future and anticipated high nickel demand. CanAlaska is actively seeking joint venture partners to help move these projects toward discovery."

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: cbelyk@canalaska.com

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121937

News Provided by Newsfile via QuoteMedia

CVV:CA
The Conversation (0)
CanAlaska Announces Senior Management Change

CanAlaska Announces Senior Management Change

Misty Urbatsch, Vice-President Corporate Development, Resigns Position to Focus on Core Nickel Corp

Appointed to Advisory Board of CanAlaska

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Increases Private Placement Financing to $12 Million

CanAlaska Increases Private Placement Financing to $12 Million

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that further to its news release of November 20, 2023, due to increased demand, it is increasing the total gross amount to be raised under its non-brokered private placement to $12 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Announces up to $7.5 Million Private Placement Financing

CanAlaska Announces up to $7.5 Million Private Placement Financing

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that it proposes to undertake a non-brokered private placement of securities to raise total gross proceeds of up to $7.5 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Reports Large Gravity Targets Identified at Geikie Project in Athabasca Basin

CanAlaska Reports Large Gravity Targets Identified at Geikie Project in Athabasca Basin

Airborne Gravity Survey Highlights Numerous Targets Coincident with Regional Fault Structures and Mineralization

Winter Drilling Program Planned for Q1 2024

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Uranium Ltd. and Core Nickel Corp. Announce Closing of Spin-Out Plan of Arrangement

CanAlaska Uranium Ltd. and Core Nickel Corp. Announce Closing of Spin-Out Plan of Arrangement

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") and Core Nickel Corp. ("Core Nickel") are pleased to announce that further to CanAlaska's press releases dated September 5, 2023 and October 26, 2023, the plan of arrangement spin-out transaction (the "Arrangement") has closed effective November 10, 2023 (the "Effective Date").

Completion of the Arrangement, as set forth in the arrangement agreement dated September 1, 2023 (the "Arrangement Agreement"), entered into between the CanAlaska and Core Nickel, was approved by the shareholders of CanAlaska (the "CanAlaska Shareholders") on October 25, 2023; by a Final Order granted by the Supreme Court of British Columbia on October 31, 2023, in accordance with Part 9 of the Business Corporations Act (British Columbia), and accepted by theTSX Venture Exchange (the "TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canadian and Saskatchewan flags waving under a clear blue sky.

13 Uranium Companies Exploring Canada's Athabasca Basin

Uranium market watchers know that Canada’s Athabasca Basin is among the world’s richest uranium jurisdictions and hosts several of the highest-grade uranium deposits on the planet.

Spanning close to 100,000 square kilometers of the Canadian Shield of Northern Saskatchewan and Alberta, the Athabasca Basin is a major contributor to Canada’s status as the second largest uranium producer and the third largest country by uranium reserves.

Unsurprisingly, the region is home to the world’s largest uranium mine, Cigar Lake. The mine reports average grades of 14.69 percent U3O8 and accounts for 14 percent of global uranium production.

Keep reading...Show less
Terra Clean Energy (CSE:TCEC)

Terra Clean Energy


Keep reading...Show less
A$4.5M Placement to Underpin Resource Growth Strategy

A$4.5M Placement to Underpin Resource Growth Strategy

GTI Energy (GTR:AU) has announced A$4.5M Placement to Underpin Resource Growth Strategy

Download the PDF here.

John Ciampaglia, nuclear reactors.

John Ciampaglia: Uranium Turnaround? Spot Price Pop, Stocks and SPUT Raise

John Ciampaglia, CEO of Sprott Asset Management, discusses uranium supply, demand and pricing, also sharing details on the Sprott Physical Uranium Trust's (TSX:U.U,OTCQX:SRUUF) recently closed US$200 million bought-deal financing.

"It's clearly acted as a very positive catalyst — the spot price has popped, a lot of the equities have popped on this," he said about the agreement.

Keep reading...Show less

Latest Press Releases

Related News

×