CanAlaska Drilling Update for West McArthur Project
Shortened program confirms basement offsets and related uranium halos; video presentation of uranium projects with online link
Vancouver, April 15, 2020 - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to report that crews were able to complete four drill holes from a planned six hole winter program at the West McArthur uranium project. Drilling was stopped mid-March to ensure an orderly shut down, given the current COVID-19 situation. Assays and data from the drill holes continue to show abundant structures in the sandstone above the unconformity near a large, yet to be tested, target. The last hole of the program WMA060, together with holes WMA054 and WMA058, confirms the model of a proximal mineralizing feeder zone oriented in a north to north-west direction.
Figure 1
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The 2020 drill program was planned to span winter and summer seasons, and to extend the discovery footprint of mineralization containing high-grade uranium near the C10 conductor target. The program was terminated before there was sufficient time to drill the interpreted cross structures, or to test the area north and north-west of the discovery zone (Figure 1).
Section54 (Figure 2) which includes the three drill holes mentioned above is distinctly different from section L6000W (Figure 1). Anomalous uranium occurs discontinuously starting near surface and is accompanied by sulphur, and/or arsenic and/or copper. This suggests a difference in geochemical enrichment and alteration relative to its nearby structures.
Figure 2
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The offsets at unconformity elevations and the boundary of the MFa-MFb sandstone unit shows the offsets are the result of structural activity following Athabasca sedimentation. The resulting structural model ties itself to the extensive alteration of the sandstone, and uranium, base metals and boron halos observed in the 2016 to 2020 drilling in this part of the Grid 5 area. These unconformity structural offsets are shown in shaded relief plan view in Figure 3.
Our data from drill core indicates there is an abundance of structures in the vicinity of the Grid 5 discovery that are providing the focus for the associated uranium-bearing fluids. In addition, geochemical enrichment of copper, zinc and boron, within the uranium halo of the last drill hole (WMA060) indicates that the nearby cross structure may be a significant part of the mineralizing event.
Cross structures are commonly associated with high-grade uranium mineralization in the Athabasca model and have historically been important pathways to discovery of some of the Athabasca Basin's largest deposits. Recognition of their presence, influence on mineralization focus, and connection to the alteration in sandstone are critical steps toward focussing exploration programs. The winter program was terminated before there was sufficient time to drill the interpreted cross structures, or to test the area west, north, and east of the high-grade discovery zone.
Drilling completed to date is along the C10 corridor which is also host to Cameco and Orano's Fox Lake uranium deposit. The interpreted controlling basement structure of the high-grade mineralization at Grid 5 has yet to be intersected, however, the combination of a 75 metre wide zone of high-grade uranium mineralization, typical Athabasca deposit multi-element geochemical enrichment, strong faulting, core loss and intense clay alteration above the unconformity, suggest the presence of additional uranium-bearing zones.
Figure 3
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CanAlaska President Peter Dasler comments: "I am very pleased with the new information from the drill program, especially from WMA060. It provided solutions and ideas for the offsets surrounding our high-grade uranium discoveries. Intersection of these structures at or near the unconformity will be the focus of the next drilling program. Now that the uranium price is starting to respond to newly announced mine shutdowns it is expected that further uranium shortages will provide impetus to resume exploration on the West McArthur and other projects in mid- to late-2020."
New Website Video
A video fly through of the West McArthur and nearby Cree East uranium projects is now available at www.canalaska.com and shows the current targets on these two large projects. Click here to view video.
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About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 152,000 hectares (375,000 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: info@canalaska.com
Cory Belyk, COO
Tel: +1.604.688.3211 x 138
Email: cbelyk@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.
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