2,301 hectares (5,752 acres) covering Resting Lake ultramafic sequence. Known sulphide nickel targets south of the Bucko nickel mine
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce that it has staked 12 new claim blocks covering 2,301 hectares (5752 acres) at Resting Lake in the southern Thompson Nickel Belt, near Wabowden, Manitoba. The claims cover and surround known mineralized zones as well as untested target horizons, south of the Wabowden nickel mines.
The new claims cover the majority of the Resting Lake structure, which is a 15-kilometre long synclinorium of Ospwagan Group sediments. The claims cover thirty ultramafic lenses within the prospective Pipe Formation, as shown on Figure 1. In the Thompson Nickel Belt the maximum potential for high-grade nickel mineralization resides in association of ultramafic and Pipe Formation rocks.
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Nickel mineralization has previously been intersected in several drill holes which penetrated ultramafic horizons along the length of the structure, with several lenses of mineralization defined at either end of the structure. A reconnaissance drill hole also discovered nickel mineralization within the central part of the trend with one intersection grading 1.5 metres (4.9 ft) at 0.85% Ni.
All of the claims are easily accessible from the main Thompson highway, and benefit from adjacent rail and power infrastructure. The Bucko nickel mine and Bowden Lake nickel mine are located respectively 3km and 5km north of the Resting property, and along the same mineralized trend.
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CanAlaska President Peter Dasler comments, "CanAlaska's team has identified multiple projects in Manitoba which would benefit from modern exploration and new drilling activity. There is strong worldwide demand for new sulphide nickel discoveries to back the ever- increasing demand for electric vehicle and storage batteries. The Thompson Nickel Belt in Manitoba is one of the world's largest nickel producing regions, and, with expiry of historical mining claims and long-term mining lease renewals, CanAlaska has been able to progressively acquire key exploration targets. We look forward to forming new Joint Ventures with interested exploration companies."
CanAlaska is preparing for summer drilling on the West McArthur uranium project, which is in JV with Cameco. The Company is awaiting drill permitting for the Strong nickel project near Thompson in Manitoba. The Company's Manibridge nickel project is currently under a new third party LOI. Investors are invited to view the company's latest presentation in the following link: https://youtu.be/iaY2qsGPxRM.
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, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Cory Belyk, COO
Tel: +1.604.688.3211 x 306
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.
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/81982