canalaska news

CanAlaska Intersects Polymetallic Mineralization at Waterbury South Uranium Project

Unconformity zone with strong Nickel, Arsenic and Cobalt mineralization; Extensive clay alteration in basement rocks below unconformity intersection; Similarities to the nearby Cigar Lake Polymetallic Uranium Deposit

CanAlaska Uranium Ltd. (TSXV: CVV) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce it has intersected polymetallic mineralization at the unconformity on its Waterbury South uranium project. The program was designed to test targets near previously drilled holes, which show significant alteration and uranium values, in proximity to untested geophysical targets. The program consisted of 1,347.5 metres of drilling in three drill holes.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/87849_33eb8b0d744bc89a_001.jpg

Photo: Waterbury South Project

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2864/87849_33eb8b0d744bc89a_001full.jpg

CanAlaska drill holes WAT-008 and WAT-009, tested the main target near failed Cameco drill hole SOD-253 (Figure 1). Cameco's hole failed due to strongly faulted and altered sandstone above the unconformity.

CanAlaska Geologist at Waterbury South ProjectIn the new 2021 drill holes completed by CanAlaska, bleaching is present through much of the sandstone column, becoming more intense in the lower half of the sandstone as the holes neared the unconformity. In WAT-008, a pyrite-rich zone associated with a fault in the mid-sandstone column well above the unconformity contained anomalous nickel, arsenic, cobalt and zinc values. A thick graphitic unit was intersected in the lower section of the hole that provided a clear target at the unconformity for drill hole WAT-009 (Figure 1).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/87849_canalaska%20table1_550.jpg

Table 1: Polymetallic Mineralization in WAT-009

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2864/87849_canalaska%20table1.png

In WAT-009, bleaching is present over the last 100 metres of the sandstone column with an increase in sooty pyrite alteration above the unconformity, which correlates with the sooty pyrite noted in the lower 50 metres of SOD-253. A seven (7) metre long structure of broken rock with intense clay alteration and hematization occurs 20 metres below the unconformity and correlates with a fault structure in the sandstone at 138 metres depth in drill hole SOD-253. Much of the basement in WAT-009 is clay altered and chloritized indicating the presence of a large hydrothermal event (Figure 1).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2864/87849_33eb8b0d744bc89a_004.jpg

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/87849_33eb8b0d744bc89a_004full.jpg

A 3.3 metre zone of intense clay alteration straddling the unconformity in WAT-009 contains significant polymetallic mineralization consisting of 0.5 metres with 405 ppm uranium, 2.42% nickel, 2.34% arsenic, 0.5% zinc, and 801 ppm cobalt (Table 1). This mineralization association, or fingerprint, is directly reminiscent of metal associations at the nearby Cigar Lake orebody where similar values of nickel, arsenic and cobalt are known to exist with the high-grade uranium.

CanAlaska CEO, Cory Belyk, comments, "The results we have received from this drilling program have the fingerprints of a significant Cigar Lake style mineralizing system. It is a rare event to find this level of alteration at the unconformity, extending deep within the basement, associated with the metal enrichments we have encountered in WAT-009. Several of the largest known Athabasca unconformity uranium deposits have this polymetallic signature with nickel, arsenic and cobalt. This is an incredible discovery for our shareholders and our team with only the third CanAlaska drill hole on this project."

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (FSE: DH7N) holds interests in approximately 214,000 hectares (530,000 acres), in Canada's Athabasca Basin and Wollaston area - 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 

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/87849

News Provided by Newsfile via QuoteMedia

The Conversation (0)
CanAlaska Uranium (TSXV:CVV)

CanAlaska Uranium

Advancing New Uranium Discoveries in the Athabasca Basin

Nuclear plant cooling towers with overlaid stock market graphs at sunset.

Uranium Price Update: Q3 2025 in Review

The uranium space is currently navigating a complex mix of optimism and structural pressures as investors increasingly look to the sector and major miners reduce their guidance. After sinking to a US$63.25 per pound on March 7 — the lowest point since September 2023 — the U3O8 spot price... Keep Reading...
Drill Rig Mobilised at Lo Herma ISR Uranium Project

Drill Rig Mobilised at Lo Herma ISR Uranium Project

American Uranium (AMU:AU) has announced Drill Rig Mobilised at Lo Herma ISR Uranium ProjectDownload the PDF here. Keep Reading...
Stock market display with "Mergers and Acquisitions" in white amid red and green numbers.

IsoEnergy Expands Into Australia with Toro Energy Takeover

IsoEnergy (TSX:ISO,NYSE American:ISOU) is set to acquire Australia’s Toro Energy (ASX:TOE,OTC Pink:TOEYF) in an all-share deal that will consolidate two uranium developers into a single diversified platform as global nuclear demand surges and uranium prices continue to strengthen.The merger... Keep Reading...
Joint Investor Presentation

Joint Investor Presentation

Toro Energy (TOE:AU) has announced Joint Investor PresentationDownload the PDF here. Keep Reading...
IsoEnergy to Acquire Toro Energy

IsoEnergy to Acquire Toro Energy

Toro Energy (TOE:AU) has announced IsoEnergy to Acquire Toro EnergyDownload the PDF here. Keep Reading...
Blurry periodic table focus on uranium, element 92, with atomic mass 238.029.

Western Australia Reviews Uranium Mining Ban as Nuclear Energy Investment Grows

Australia’s uranium sector remains shaped by state-based rules, with Western Australia maintaining a ban on new uranium mining licenses since 2017.While projects approved before the ban were allowed to proceed, no new developments have been permitted, however things could be changing. Premier... Keep Reading...

Latest Press Releases

Related News