74,283 Hectares with multiple targets near existing uranium depositsCanAlaska Uranium Ltd. is pleased to announce that compilation work by the Company's staff has identified uranium potential in three areas of the western Athabasca Basin and a total of 74,283 hectares have been staked .Figure 1To view an enhanced version of Figure 1, please visit: Chymko project is adjacent to the Virgin River shear zone and a ...

74,283 Hectares with multiple targets near existing uranium deposits

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce that compilation work by the Company's staff has identified uranium potential in three areas of the western Athabasca Basin and a total of 74,283 hectares have been staked (Figure 1).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/105077_b2df486d14fc0863_001.jpg

Figure 1

To view an enhanced version of Figure 1, please visit:

The Chymko project (32,603ha) is adjacent to the Virgin River shear zone and a series of potential shear structures have been identified; a uranium showing is adjacent to one of these structures. The Taggart project (28,328ha) is on trend with the Patterson corridor, which host the Triple R and Arrow deposits with combined reported resources of 472M lbs U3O8. The Carswell project (13,352ha) is located in proximity to the Shea Creek and Cluff Lake deposits with total combined resources and production of 135M lbs U3O8. A major conductive structure has been identified on this property.

Work will continue to identify key targets on each project in preparation for future exploration programs.

CanAlaska CEO, Cory Belyk, comments, "The addition of these three large project areas in the vicinity of world-class uranium deposits and districts in the Athabasca Basin is another example of CanAlaska successfully deploying its project generator model. We look forward to working with new joint venture partners to move these projects forward."

Other News

The Company has very recently completed drilling on its West McArthur Joint Venture Project in the 42 Zone discovery area, a joint venture with Cameco Corporation. The Company is awaiting results from 433 assay samples and 793 short-wave infrared (SWIR) samples submitted for analysis. The Company's other joint venture partner, Denison Mines, has just completed 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 Dr. Karl Schimann, Ph.D., P.Geo., CanAlaska's Senior Exploration Consultant.

On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
CanAlaska Uranium Ltd.


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/105077

News Provided by Newsfile via QuoteMedia

Baselode Closes $9.2 Million Bought Deal Private Placement

Baselode Closes $9.2 Million Bought Deal Private Placement


 Baselode Energy Corp. (" Baselode " or the " Company ") (TSXV: FIND) is pleased to announce the closing of its previously announced "bought deal" private placement consisting of the sale of 8,000,550 units (the " Units ") at a price of $1.15 per Unit for aggregate proceeds of $9,200,632.50 including exercise in full of the over-allotment option (the " Offering ").

Keep reading... Show less
Federal Environmental Approval Received

Federal Environmental Approval Received

Toro Energy Limited (ASX:TOE) (“the Company” or “Toro”) is pleased to advise the Federal government’s Minister for the Environment and Energy, the Hon Josh Frydenberg, has granted environmental approval, subject to implementation conditions, for the Extension to the Wiluna Uranium Project (EPBC 2014/7138) in Western Australia.

The Minister’s approval was received by Toro on 7 July 2017 and is attached to this announcement (Annexure 1).

Keep reading... Show less
Drilling Commences at Thor ISR Uranium Project in Wyoming

Drilling Commences at Thor ISR Uranium Project in Wyoming

GTI Resources Ltd (GTI or Company) is pleased to advise that 2 mud rotary drill rigs have commenced drilling on schedule at the Thor ISR uranium project in Wyoming's Great Divide basin (Figure 1). This 50,000-foot (-15,000 metre) maiden drill program of circa 100 holes is designed to confirm the grade and tenor of uranium mineralisation that was previously identified by Kerr McGee in the 1980's and to ultimately support definition of an economic ISR uranium resource.

The Company has prioritised the Thor Project area for drilling based on historical exploration data, which includes results of 83 historic drill holes including some drill logs, and the project's location on the mapped REDOX boundary.

Keep reading... Show less

5 Largest Uranium Producers in the World

Following a year that saw uranium rank among the best-performing commodities, 2021 has brought a continued rise in the value of the energy fuel, spurring interest in the sector among investors.

Uranium started the year at US$29.63 per pound, and prices have trended higher over the last 11 months, pushing the nuclear fuel to a nine year high in September, when it hit an intraday high of US$50.76.

Production declines caused by 2020 closures aided in the price growth. However, a widespread push towards nuclear as a clean energy source has served as a primary catalyst for uranium's value increase.

Keep reading... Show less

Top Uranium Mines in the World

In 2020, world uranium mine production came to 56,287 tonnes of U3O8. Kazakhstan was the top-producing country by far at 19,477 tonnes, followed by Australia and Namibia.

Together, those three nations accounted for over two-thirds of uranium mining, with Kazakhstan taking a 41 percent share. Additionally, a wide variety of uranium-mining companies contribute to the world's production.

But where in the world are the top uranium mines? While many of them are located in Kazakhstan, Canada and Australia, that's not the case for all of the largest uranium mines.

Keep reading... Show less
Elevate Secures $11.5M to Accelerate its Growth Strategy

Elevate Secures $11.5M to Accelerate its Growth Strategy

Elevate Uranium Ltd (ASX: EL8) ("Elevate" or "the Company") is pleased to announce that it has received binding commitments for a single tranche placement to raise $11.5 million (before costs) at $0.45 per share, utilising its placement capacity under ASX Listing Rule 7.1 ("Placement"). The Placement introduced a number of new, high quality institutional, sophisticated and professional investors, whilst also being well supported by existing significant shareholders of the Company.

Keep reading... Show less

Top News

Related News