VANCOUVER, Sept. 22 /PRNewswire-FirstCall/ - CanAlaska
Uranium Ltd. (CVV - TSX.V) (the "Company" or "CanAlaska") is
pleased to announce preliminary results for summer exploration
surveys in the Athabasca Basin on
the Collins Bay Extension, Grease River and West McArthur uranium
projects and new developments at the Fond
Du Lac project.
Collins Bay Extension Project - Seismic Profiling of Target
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CanAlaska's geophysical staff carried out detailed waterborne
seismic surveys across the large target south of Blue Island. This
profiling was extended in the shallow offshore area west of the
Rabbit Lake Mine, where CanAlaska had previously completed sediment
sampling (see Figure 1 here -
http://www.canalaska.com/s/News.asp?ReportID=419939). This
sampling, in Pow Bay, was to test for the source of a uranium
boulder train reported to be located south of the bay. The attached
image shows the well-developed structural break which is associated
with the Rabbit Lake fault system
in the Pow Bay area. This map also shows a distinct channel of
uranium enrichment trending north-easterly across the bay,
following the postulated trend of the Rabbit Lake fault system. This trend, which
also corresponds to features from CanAlaska's winter gravity
survey, can be drill-tested with shallow holes during the winter
season.
Further offshore, the large airborne Blue Island electromagnetic
anomaly matches a rapid change in the bathymetric survey,
surrounding the location of CanAlaska drill hole CBX006. This drill
hole identified a 200 metre faulted offset in the basement rocks,
underlain by breccias, and localized uranium mineralization.
Processing of the seismic data, along with integration of
historical lake bottom sediment sampling, will commence within the
next week, with final detailed images available for winter drill
targeting in early December 2010.
CanAlaska's seismic survey ties into the 1993 Goldak seismic survey
and extends a major paleovalley, interpreted as a possible fault or
shear zone, which ties into the Blue Island anomaly (see Figure 1
here - http://www.canalaska.com/s/News.asp?ReportID=419939).
Grease River Project - Detailed Mapping and Sampling:
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The Shearika Ridge "Rossing Style" granite-hosted drill target
is approximately one kilometre in length, and demonstrates high
back ground radiometric readings, supported by the assaying of
numerous higher grade fractures and shears in the granite (see News
Release February 17th, 2009).
This summer, detailed mapping of outcrops and historical
trenches on the Shearika Ridge prospect was tied into a
close-spaced radiometric grid survey in preparation for a diamond
drill program in 2010-2011. The survey used scintillometers and a
calibrated gamma spectrometer to estimate uranium values from
outcrops across the target area.
West McArthur Project - ZTEM Survey Processing
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The Company is awaiting the processing of the results and images
for the recently completed ZTEM survey at the West McArthur
project. This survey is expected to have a bearing on the planning
of further detailed ground geophysical surveys and exploration over
the 5 year program as agreed between CanAlaska and Mitsubishi
Corporation. In October, the joint venture partners will meet to
confirm the geophysical and drill programs proposed for the 2011
winter field season. These plans will be reported along with
scheduling when confirmed.
Fond Du Lac Project - Agreement to Increase Participating Interest to 50%
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The Company has accelerated its exploration spending and cash
and share payments and has concluded its earn-in under the first
phase of exploration on the Fond Du
Lac project with the Fond Du Lac Denesuline Community. The
Company has also been granted an increase in its participating
interest in the project to 50% by the community for consideration
of the issuance of 100,000 common shares of the Company. This
payment for the additional property interest is subject to
acceptance by the TSX Venture Exchange.
CanAlaska expects to have multiple drill programs active in the
Athabasca Basin commencing in
December-January, 2011. The Company is continuing to develop
relationships with major uranium consumer states and organizations,
with the view to increasing the number of active drill projects in
2011.
President Peter Dasler states:
"These technical developments, and the recent initiative to
increase the corporate profile of the Company, make for a very
exciting future in our quest to make new uranium discoveries in the
Athabasca Basin region of
Saskatchewan.
Peter Dasler, M.Sc., P Geo. is
the Qualified Person responsible for this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV - TSX.V, CVVUF - OTCBB, DH7 -
Frankfurt) is undertaking uranium
exploration in twenty one 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.
For more information visit www.canalaska.com
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.
Copyright . 22 PR Newswire
