Oleblue
6 months ago
CanAlaska Assays Confirm High-Grade Uranium at Pike Zone on West McArthur Joint Venture
Drillhole WMA082-6 Intersected 9.6 metres at 14.9% U3O8 and Drillhole WMA082-4 Intersected 14.5 metres at 9.9% U3O8
Management Attending Investor Clubhouse at the RBC Open June 1, 2024
Vancouver, Canada, May 29, 2024 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQX: CVVUF; Frankfurt: DH7) (“CanAlaska” or the “Company”) is pleased to report that it has received assay results from the drillholes completed on the Pike Zone during the winter of 2024. Geochemical assay results confirm composited high-grade intersections highlighted by WMA082-6 grading 14.9% U3O8 over 9.6 metres, and WMA082-4 grading 9.9% U3O8 over 14.5 metres. Drilling at the Pike Zone was completed as part of the ongoing winter exploration program on the West McArthur Joint Venture project (the “Project”) in the eastern Athabasca Basin. The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska that holds an 83.35% ownership in the Project (Figure 1). CanAlaska is sole-funding the 2024 West McArthur program, further increasing its majority ownership in the Project.
CanAlaska CEO, Cory Belyk, comments, “Assay confirmation of the very high-grade uranium mineralization encountered at Pike Zone in the winter program is a critical step in evaluating the next steps for the project and the joint venture. The CanAlaska team will focus on expanding the known zone of unconformity-associated high-grade uranium during the upcoming summer drilling program scheduled to commence in early June. We remain confident Pike Zone is a potential tier one mineralizing event based on proven grade and thickness of uranium intersected at the unconformity, associated deep basement mineralized roots, and structure and alteration features observed in core at Pike Zone and elsewhere along the target corridor. Based on other eastern Athabasca Basin high-grade uranium deposit analogues such as McArthur River, Pike Zone could be just one of several pearls on a string.”
2024 Winter Drill Program
The Company is pleased to announce completion of the 2024 winter drill program on the West McArthur project. The 2024 winter program was focused on continued expansion of the Pike Zone discovery and along strike unconformity testing to the northeast and southwest of the Pike Zone. During the drill program, eight unconformity target tests were completed for a total of 6,201 metres. All three drillholes (WMA082-4, WMA082-5, WMA082-6) completed on the Pike Zone intersected uranium mineralization. The mineralization in drillholes WMA082-4 and WMA082-6 represent the highest-grade mineralized intersections drilled to date on the West McArthur project.
Geochemical assay results confirm that drillhole WMA082-4 intersected one main composited interval of 7.4% U3O8 over 19.5 metres, including 9.9% U3O8 over 14.5 metres, followed by several additional mineralization intervals down hole (Table 1). The mineralization in WMA082-4 is characterized by massive to semi-massive, blebby, disseminated, clay-hosted, and fracture-controlled uranium mineralization associated with yellow and orange uranium secondaries at the contact between the Athabasca sandstone and the underlying basement rocks. The mineralized intervals are hosted within a broad zone of intense clay and chlorite alteration, resulting in complete replacement of the original rock fabric and textures. Intervals of no core recovery, due to poor ground conditions, were intersected within the WMA082-4 mineralized intersection. In intervals of no core recovery, downhole radiometric equivalent uranium grades, calculated based on an updated radiometric equivalent grade curve that has been correlated against geochemical assay results obtained during the winter drill program, are inserted in place of missing core and reported as part of the larger composited interval (Table 1).
Geochemical assay results confirm that drillhole WMA082-6 intersected one main composited interval of 12.9% U3O8 over 11.1 metres, including 14.9% U3O8 over 9.6 metres, followed by an additional mineralized interval down hole (Table 2). The mineralization in WMA082-6 is hosted directly at the unconformity contact between the Athabasca sandstone and the underlying basement rocks and is characterized by massive to semi-massive and nodular uranium mineralization associated with yellow and orange uranium secondaries and hematite alteration. Uranium mineralization continues into the basement rocks of WMA082-6 and is characterized by nodular, disseminated, clay-hosted, foliation-controlled, and fracture-controlled veinlets of uranium mineralization associated with localized pale-yellow uranium secondaries and strong basement alteration. One interval of no core recovery was intersected within the WMA082-6 mineralized intersection. In this interval of no core recovery, downhole radiometric equivalent uranium grades, calculated based on an updated radiometric equivalent grade curve that has been correlated against geochemical assay results obtained during the winter drill program, are inserted in place of missing core and reported as part of the larger composited interval (Table 2).
Geochemical assay results confirm that drillhole WMA082-5 intersected one interval of sandstone-hosted uranium mineralization grading 1.5% U3O8 over 4.6 metres (Table 3). The mineralization in WMA082-5 is located directly above the unconformity contact between the Athabasca sandstone and underlying basement rocks. The mineralization in WMA082-5 is characterized by disseminated and nodular uranium mineralization hosted within a dark grey to black sulfide- and clay-altered sandstone column with localized intervals of lost core due to high rock friability. The basement of WMA082-5 immediately below the unconformity is strongly clay and chlorite altered, resulting in replacement of the original rock fabric textures. One interval of no core recovery was intersected within the WMA082-5 mineralized intersection. In this interval of no core recovery, downhole radiometric equivalent uranium grades, calculated based on an updated radiometric equivalent grade curve that has been correlated against geochemical assay results obtained during the winter drill program, are inserted in place of missing core and reported as part of the larger composited interval (Table 3).
This most recent drill fence on the Pike Zone is located approximately 30 metres along strike to the northeast of high-grade uranium mineralization intersected in WMA082-2, which intersected 1.03% U3O8 over 6.3 metres, including a sub-interval of 2.82% U3O8 over 1.9 metres (see News Release dated January 18, 2024). Currently, the unconformity target at the Pike Zone remains open in all directions around WMA082-4, WMA082-5, and WMA082-6 (Figure 2).
2024 Summer Drill Program and Next Steps
The Company is actively planning the 2024 summer drill program on the West McArthur project. The drill program is expected to start in early June and will consist of two diamond drills targeting approximately 9,000 metres of additional diamond drilling. The program is expected to be completed by September.
https://www.canalaska.com/2024/05/29/canalaska-assays-confirm-high-grade-uranium-at-pike-zone-on-west-mcarthur-joint-venture/
Johnson69
6 years ago
CanAlaska Closes Oversubscribed Financing
http://www.canalaska.com/s/News.asp?ReportID=850667
Vancouver, Canada, May 16, 2019 -- CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (the "Company") is pleased to announce that it has closed its private placement financing previously announced on April 22, 2019 and May 6, 2019 and issued 1,744,500 flow-through units for gross proceeds of $558,240 and 9,551,910 non flow-through units for gross proceeds of $2,626,775.25, for total gross proceeds of $3,185,015.25.
In connection with this financing, the Company paid a total of $160,329.66 in finder's fees ($106,370.25 to Sprott Global Resource Investments, Ltd.; $18,960.00 to Sprott Capital Partners LP; $15,960.01 to Leede Jones Gable Inc.; $15,125.00 to Oro Grande Capital Inc.; $3,300.00 to Haywood Securities Inc.; and $614.40 to Mackie Research Capital Inc.) and issued a total of 511,379 finder's warrants (386,800 to Sprott Global Resource Investments, Ltd.; 59,250 to Sprott Capital Partners LP; 51,409 to Leede Jones Gable Inc.; 12,000 to Haywood Securities Inc.; and 1,920 to Mackie Research Capital Inc.). Each finder's warrant is exercisable for one common share at a price of $0.60/share for five years.
All securities issued under this private placement are subject to a hold period expiring September 17, 2019 in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: 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.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, P. Geo., President & CEO
Contacts:
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email: info@canalaska.com
Cory Belyk, COO
Tel: +1.604.688.3211 x 306
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.
Johnson69
6 years ago
CanAlaska Closes Oversubscribed Financing
http://www.canalaska.com/s/News.asp?ReportID=850667
Vancouver, Canada, May 16, 2019 -- CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (the "Company") is pleased to announce that it has closed its private placement financing previously announced on April 22, 2019 and May 6, 2019 and issued 1,744,500 flow-through units for gross proceeds of $558,240 and 9,551,910 non flow-through units for gross proceeds of $2,626,775.25, for total gross proceeds of $3,185,015.25.
In connection with this financing, the Company paid a total of $160,329.66 in finder's fees ($106,370.25 to Sprott Global Resource Investments, Ltd.; $18,960.00 to Sprott Capital Partners LP; $15,960.01 to Leede Jones Gable Inc.; $15,125.00 to Oro Grande Capital Inc.; $3,300.00 to Haywood Securities Inc.; and $614.40 to Mackie Research Capital Inc.) and issued a total of 511,379 finder's warrants (386,800 to Sprott Global Resource Investments, Ltd.; 59,250 to Sprott Capital Partners LP; 51,409 to Leede Jones Gable Inc.; 12,000 to Haywood Securities Inc.; and 1,920 to Mackie Research Capital Inc.). Each finder's warrant is exercisable for one common share at a price of $0.60/share for five years.
All securities issued under this private placement are subject to a hold period expiring September 17, 2019 in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: 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.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, P. Geo., President & CEO
Contacts:
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email: info@canalaska.com
Cory Belyk, COO
Tel: +1.604.688.3211 x 306
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.
Johnson69
6 years ago
CanAlaska Closes Oversubscribed Financing
http://www.canalaska.com/s/News.asp?ReportID=850667
Vancouver, Canada, May 16, 2019 -- CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (the "Company") is pleased to announce that it has closed its private placement financing previously announced on April 22, 2019 and May 6, 2019 and issued 1,744,500 flow-through units for gross proceeds of $558,240 and 9,551,910 non flow-through units for gross proceeds of $2,626,775.25, for total gross proceeds of $3,185,015.25.
In connection with this financing, the Company paid a total of $160,329.66 in finder's fees ($106,370.25 to Sprott Global Resource Investments, Ltd.; $18,960.00 to Sprott Capital Partners LP; $15,960.01 to Leede Jones Gable Inc.; $15,125.00 to Oro Grande Capital Inc.; $3,300.00 to Haywood Securities Inc.; and $614.40 to Mackie Research Capital Inc.) and issued a total of 511,379 finder's warrants (386,800 to Sprott Global Resource Investments, Ltd.; 59,250 to Sprott Capital Partners LP; 51,409 to Leede Jones Gable Inc.; 12,000 to Haywood Securities Inc.; and 1,920 to Mackie Research Capital Inc.). Each finder's warrant is exercisable for one common share at a price of $0.60/share for five years.
All securities issued under this private placement are subject to a hold period expiring September 17, 2019 in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: 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.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, P. Geo., President & CEO
Contacts:
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email: info@canalaska.com
Cory Belyk, COO
Tel: +1.604.688.3211 x 306
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.
247MarketAddict
7 years ago
When a uranium company delivers its raw material to the processing plant, the material is run through the refiner for a predetermined amount of time, with the resultant high-grade uranium delivered back to the mining company. However, the process creates waste which if run through the refining plant again, will create additional sellable uranium, in this case, owned by the processing plant.
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