VANCOUVER, April 19 /PRNewswire-FirstCall/ - CanAlaska
Uranium Ltd. (TSX.V - CVV) ("CanAlaska" or the "Company") is
pleased to report preliminary drill results from its Collins Bay
Extension project, a uranium property under option from Bayswater
Uranium. The Winter 2010 drilling at Collins Bay Extension was
stopped on April 10th, but was able
to test a uranium mineralized target on Fife Island, and then
advance to a second, large, well-defined conductivity and gravity
anomaly target located due east of the Collins Bay-Eagle Point mine
area. In this last target, the Company intersected a new geological
feature with uranium mineralization and extensive breccia
development.
Additional holes were not able to be completed, due to the
conditions of the ice on Lake Wollaston
http://www.canalaska.com/s/News.asp?ReportID=395168
Collins Bay Fife Island Target:
-------------------------------
Four holes were drilled on Fife Island for a total of 539 metres
to test the "Vic Zone". Three of the drill holes tested a
historical drill intersection of 0.152% U(3)O(8) over 4 metres at a
faulted contact of graphitic metapelite with Archean basement
gneiss.
The first three drill holes targeted the approximate location of
the historical intersections as well as 20 metres above and below
to test the continuity of this type of mineralization. Several
mineralized zones were intersected, demonstrating that the
mineralization is not restricted to a single point on this sheared
contact, (see Table 1 below).
Table 1 - Fife Island Drilling: Mineralized Uranium
Intersections
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Drill Hole thickness %eU from to MAX CPS
CBX001 0.35 0.03 78.45 78.80 1700
CBX001 0.55 0.01 90.30 90.85 740
CBX001 0.70 0.01 97.80 98.50 590
CBX001 1.15 0.02 109.55 110.70 1200
CBX002 0.25 0.02 81.65 81.90 750
CBX002 0.25 0.04 114.30 114.55 1600
CBX002 0.55 0.07 115.45 116.00 3740
CBX002 0.35 0.29 117.30 117.65 14850
CBX002 0.55 0.09 119.60 120.15 5040
CBX002 0.40 0.07 122.60 123.00 1850
CBX003 0.35 0.01 67.80 68.15 770
CBX003 1.00 0.01 71.75 72.75 760
CBX003 0.90 0.03 113.65 114.55 1700
CBX003 0.40 0.02 128.35 128.75 1100
CBX006 0.35 0.01 238.60 238.95 895
CBX006 1.15 0.02 160.40 161.55 1590
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The fourth drill hole at Fife Island targeted another historical
intersection in the vicinity, and along the same Archean-Aphebian
geological contact. This drill hole showed strongly-fractured and
favourable rock from top to bottom, but was lost at 89 metres
depth. Down-hole probing was not possible because of drilling
problems.
The recovered core shows no anomalous radioactivity, but there
was very poor core recovery in several sections, and further
evaluation of this target is required.
Blue Island Circular Feature:
-----------------------------
The Blue Island target, which is lake-covered, was identified
from the VTEM airborne geophysical survey completed in 2007.
In-house conversion of the survey data defined two large zones of
very high conductivity in basement rocks, each 700 metres x 500
metres in area. These zones are located below conductive lake
sediments and straddle an east-west magnetic structural trend.
Detailed gravity surveys across the target in January 2010 confirmed a large gravity low
associated with each conductive zone.
Drilling commenced on the Blue Island target in mid-March.
However, the drilling contractor was unable to complete the first
hole on this target, CBX005, and the hole was abandoned. A second
drill contractor, Driftwood Diamond Drilling Ltd., was able to
commence testing the target in early April, and completed the first
of three planned holes, before having to leave the site due to warm
weather conditions and failing ice.
The first drill hole into the target is located south-west of
Blue Island on the western of the two circular geophysical
anomalies (combined conductivity and gravity anomalies, each
500-700 metres in diameter). Drill hole CBX006 was completed in the
western portion of the anomaly to a depth of 417 metres. The hole
was located in 60 metres of water and penetrated 100 metres of
glacial boulder till and varved clay above the basement rocks.
There is strong evidence of an extensive disruptive geological
event associated with the circular features from the basement rock
cored in drill hole CBX006. The hole penetrated a very long section
(257 metres) of heterolithic diatreme breccia containing rafts of
various Aphebian and possibly Archean metamorphic rocks together
with some granite and diorite. Most of the fragments in the breccia
zone are rounded with the rocks in the larger rafts being sheared,
chloritised and/or argillized. This brecciation continues to the
end of the drill hole.
The overburden-basement interface, is marked by a 3 metre zone
of black silty clay, more massive than the varved clay, containing
a rounded nodule and angular fragments of pyrite, together with
some graphite. The exact depth of this black horizon is uncertain
because of long sections of no recovery above and below it. The
radiometric probing data shows a marked step-up of the radioactive
background at the overburden-basement interface, which starts with
a 1,590 cps peak, which, from calibrated tests, corresponds to 1.15
metres at a grade 0.02% eU(1) (160.40 to 161.55 metres depth).
A second radioactive peak occurs lower down within the basement
breccias. This peak of 895 cps on the calibrated probe corresponds
to 0.35 metres at a grade of 0.01% eU(1) (238.60 to 238.95 metres
depth).
There are additional zones of high background radioactivity
corresponding to fault zones, with core loss, between 205-210
metres and between 293-306 metres depth in the basement breccias.
Most of these various radioactive peaks have been observed with the
calibrated probe, but not on the core recovered. However, there are
extensive zones of poor to no core recovery throughout the drill
hole.
President Peter Dasler commented,
"the Blue Island target is a large new feature in this area of the
Athabasca Basin, and we are
pleasantly surprised by the amount of breccia intersected in the
drill hole. Other areas of the Athabasca Basin have circular structures
associated with brecciation, alteration, and uranium
mineralization. This is a discrete target, and it is very
encouraging the first drill hole has given us evidence of uranium
mineralization associated with the breccias. This will be a
priority for us to follow-up, and work will continue on the target
area over the summer."
Collins Bay Extension Further Programs:
---------------------------------------
An extensive ground geophysical Max-Min survey was completed
over the Fife Island target during the winter program. This survey
identified the strong conductive sedimentary package which trends
north-northeast in this area. Additionally, the geophysical surveys
over the Blue Island target were matched by other gravity surveys
in the Pow Bay area. Pow Bay is immediately up-ice of historical
uranium mineralized boulder trains, and is thought to host the
source of the mineralized boulders. These geophysical surveys will
be used to design follow-up exploration on other targets in the
area during the summer exploration season.
Winter Exploration Program Update:
Over the winter exploration season, CanAlaska operated with six
drill rigs in the field. Two of these drills were operating at the
West McArthur project, a 50/50 Joint Venture with Mitsubishi
Corporation. A further two drills were located at the Cree East
Project, under a Joint Venture fully-funded by the Korean
Consortium of Hanwha Corp., SK Energy Co., Korea Resources Corp.
and Korea Electric Power Corp. The fifth drill rig was situated on
the Collins Bay Extension project, and a sixth drill completed one
hole on the Helmer Lake project. This drill has been left on site
in the Fond du Lac area in
preparation for summer drilling.
The Qualified Person for this news release is Peter. G. Dasler,
P/ Geo.
Note 1. - In this news release ``Equivalent uranium grades``
(eU) have been calculated using a dead-time correction and K factor
specific to each natural gamma probe based on calibration runs in
the Saskatchewan Research Council test pits. Equivalent uranium
grade assumes that in these mineralized intersections, the
radioactivity is produced by uranium and that there are only
negligible amounts of other radioactive elements present.
About CanAlaska Uranium Ltd. -- www.canalaska.com
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 --
Frankfurt) is undertaking uranium
exploration in twenty 100%-owned and three optioned uranium
projects in Canada's Athabasca Basin -- the "Saudi Arabia of Uranium". Since September 2004, the Company has aggressively
acquired one of the largest land positions in the region,
comprising over 2,500,000 acres (10,117 sq. km or 3,906 sq. miles).
To-date, CanAlaska has expended over Cdn$65
million exploring its properties and has delineated multiple
uranium targets.
CanAlaska's geological expertise and high exploration profile
has attracted the attention of major international strategic
partners. Among others, Japanese conglomerate Mitsubishi
Corporation has provided the Company C$11
mil. in exploration funding to earn a 50% ownership interest
in the West McArthur Project. Exploration of CanAlaska's Cree East
Project is also progressing under a C$19
mil. joint venture with a consortium of Korean companies led
by Hanwha Corporation, and comprising Korea Electric Power Corp.,
Korea Resources Corp. and SK Energy Co, Ltd., in which the Korean
Consortium presently holds a 40.6% ownership interest. Other
Company projects in the Athabasca
Basin scheduled for drill testing during this winter 2010 season
include McTavish, Collins Bay Extension and Helmer.
On behalf of the Board of Directors
(signed)
Peter Dasler, M.Sc., P.Geo.
President & CEO, CanAlaska Uranium Ltd.
The TSX Venture has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release: CUSIP
# 13708P 10 2. This news release contains certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical fact, included herein are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with the British
Columbia Securities Commission and the United States Securities
& Exchange Commission.
SOURCE CanAlaska Uranium Ltd.
