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About CanAlaska Uranium Ltd. (CVVUF)
CanAlaska Uranium Ltd. is a Canadian-based exploration company specializing in the discovery and development of high-grade uranium deposits in the Athabasca Basin, a region renowned for hosting the world's richest uranium reserves. Founded in 1985 and headquartered in Saskatoon, Saskatchewan, CanAlaska has built a robust portfolio of approximately 500,000 hectares of strategically located mining claims across Saskatchewan, Manitoba, British Columbia, and Alberta. The company also explores for nickel, copper, gold, and diamond deposits, leveraging its geological expertise to unlock value across a diversified range of resources.
Core Business Model
CanAlaska employs a hybrid project generator model, which combines the acquisition and early-stage exploration of mineral properties with joint venture partnerships. This approach minimizes financial risk while maximizing exploration potential. By partnering with major mining companies such as Cameco Corporation and Denison Mines, CanAlaska retains significant ownership stakes in its projects while benefiting from external funding and technical collaboration. Additionally, the company directly executes exploration programs on its most promising properties, including the flagship West McArthur Joint Venture and Cree East projects.
Key Projects
- West McArthur Project: Located in the eastern Athabasca Basin, this project is home to the Pike Zone, a high-grade uranium discovery. CanAlaska holds an 85.97% ownership stake and continues to expand the ultra-high-grade mineralization footprint through advanced drilling campaigns.
- Cree East Project: Situated 35 kilometers northwest of the Key Lake mine, this project focuses on unconformity-associated uranium mineralization. Recent re-interpretations of historical data have identified high-priority targets for exploration.
- Moon Lake South Joint Venture: In partnership with Denison Mines, this project targets high-grade uranium deposits along the mineralized CR-3 Corridor.
Competitive Advantages
CanAlaska’s competitive edge lies in its extensive land holdings, advanced geophysical and geochemical exploration techniques, and strategic partnerships with industry leaders. The company’s ability to secure funding through joint ventures while maintaining significant project ownership underscores its financial prudence and operational efficiency.
Industry Context
The global push for cleaner energy sources has heightened demand for uranium, a critical component of nuclear power. CanAlaska’s focus on the Athabasca Basin aligns with this trend, as the region is a cornerstone of global uranium supply. By prioritizing high-grade deposits, the company positions itself to meet market needs effectively while contributing to sustainable energy solutions.
Expert Team
CanAlaska is led by a team of seasoned professionals with a proven track record in mineral exploration and discovery. Their expertise in identifying and advancing high-grade deposits has attracted international attention and established CanAlaska as a trusted name in the industry.
Conclusion
CanAlaska Uranium Ltd. combines technical expertise, strategic partnerships, and a diversified resource portfolio to create value in the high-grade uranium exploration sector. With a focus on the Athabasca Basin and a commitment to innovation, the company is well-positioned to capitalize on growing global demand for uranium while maintaining its reputation for operational excellence.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) has announced its participation in the upcoming Prospectors & Developers Association of Canada's (PDAC) Convention. The company will be exhibiting at Booth #2140 at the Metro Toronto Convention Centre from March 2-5, 2025.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) has announced its participation in Red Cloud's 13th Annual Pre-PDAC Mining Showcase, scheduled for February 27 & 28, 2025, at The Omni King Edward Hotel in Toronto. Nathan Bridge will present on February 28th at 10:20 AM EST.
The conference will feature presentations from over 80 companies and facilitate more than 600 one-on-one meetings. The event includes exclusive keynote speeches from leading figures in mining and finance, providing networking and industry insight opportunities.
CanAlaska Uranium has reported exceptional results from its winter diamond drill program at the Pike Zone on the West McArthur Joint Venture Project. The highlight is drillhole WMA076-01, which intersected 14.5 metres at 12.20% eU3O8, including 5.0 metres at 34.38% eU3O8, expanding the ultra high-grade footprint by at least 15 metres to the east.
The company is operating three active drills at the Pike Zone, with one focused on eastern step-outs, another on western delineation, and a third evaluating mineralization continuity between high-grade pods. Notable results include WMA094-04 intersecting 4.9 metres at 3.04% eU3O8 and WMA082-16 hitting 4.2 metres at 1.81% eU3O8.
CanAlaska holds an 85.97% ownership in the Project and is sole-funding the 2025 program, which aims to achieve approximately 25 unconformity target intersections. The mineralization remains open on strike, and the project location is 20 km west of Cameco's McArthur River mine site.
CanAlaska Uranium (TSXV: CVV) has initiated its 2025 winter drilling program at the Cree East project, located 35 kilometers northwest of the Key Lake Mine and Mill Complex in the southeastern Athabasca Basin. The program, funded by Nexus Uranium Corp, marks the first drilling at the site in over a decade.
The project will employ one diamond drill to test 6-8 high-priority targets, with initial focus on Target Area B, where previous drilling revealed significant clay alteration, pyrite alteration, and uranium enrichment. The program, expected to last 8-10 weeks, will also explore Areas A, I, and an untested conductor.
The Cree East project has previously seen over $20 million in exploration activity, including multiple geophysical surveys and 91 diamond drillholes since 2006. Under the current agreement, Nexus Uranium could invest up to $19 million in exploration expenditures.
CanAlaska Uranium (CVVUF) has announced aggressive exploration plans for 2025, featuring a $12.5 million drill program at the West McArthur Joint Venture project, focusing on the Pike Zone uranium discovery. The program, starting in January 2025, will deploy three drill rigs for delineation and expansion of the ultra high-grade uranium mineralization.
The Pike Zone's summer 2024 program yielded impressive results, with 11 out of 12 drill holes intersecting uranium mineralization along a 200-meter strike length that remains open in all directions. The company will also conduct exploration at the Cree East uranium project, which is being sole-funded by Nexus Uranium Corp under an option earn-in agreement worth up to $19 million.
CanAlaska currently holds an 85.79% ownership in the West McArthur project and will increase its stake through sole-funding the 2025 program. The company is fully funded to complete its planned exploration programs in 2025.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) reports high-grade uranium assay results from the Pike Zone at its West McArthur Joint Venture project. Key findings include:
- WMA082-11: 6.47% U3O8 over 25.8 metres, including 22.78% U3O8 over 4.0 metres
- WMA082-8: 7.63% U3O8 over 16.2 metres, including 17.31% U3O8 over 6.1 metres
- WMA082-7: 6.22% U3O8 over 11.4 metres, including 11.40% U3O8 over 5.6 metres
- Maximum grade: 69.10% U3O8
The summer drill program revealed a 200-metre strike length of uranium mineralization along the unconformity, remaining open in all directions. CanAlaska CEO Cory Belyk notes that Pike Zone is positioning itself as a possible world-class uranium discovery, located just 12 kilometres from the McArthur River uranium mine. The company is planning its 2025 exploration program to further develop this discovery.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) has signed an exploration agreement with English River First Nation (ERFN) to strengthen their relationship. This agreement demonstrates CanAlaska's commitment to building a sustainable future for the company and nearby communities in Saskatchewan's Athabasca Basin, where it holds extensive land holdings of approximately 500,000 hectares.
The agreement is founded on ERFN's commitment to protecting their home while ensuring ethical resource harvesting. Chief Alfred Dawatsare of ERFN expressed pleasure in solidifying the relationship with CanAlaska, looking forward to mutual respect and prosperity. Cory Belyk, CEO of CanAlaska, emphasized the value of partnering with ERFN for their exploration activities in Saskatchewan and contributing to their land stewardship.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) announces the start of a 2,100 metre drill program at the Waterbury East uranium project in the northeastern Athabasca Basin. The program, fully funded by Bayridge Resources Corp. under an option agreement, will focus on newly developed high-resolution airborne geophysical targets and follow-up on historical drilling results.
Key points:
- 4 to 6 drill holes planned
- Target areas based on historical results and new VTEM survey data
- Project located 25 km northeast of Cigar Lake Mine
- VTEM interpretation suggests historical drilling may have missed conductive targets
CEO Cory Belyk expresses optimism about the project's potential, citing strong market fundamentals for uranium and the project's proximity to existing mining infrastructure.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) has reported high-grade uranium mineralization from its summer diamond drill program at the Pike Zone on the West McArthur Joint Venture project. Key highlights include:
- Drillhole WMA094-2: 3.88% eU3O8 over 13.2 metres, including 23.22% eU3O8 over 2.0 metres
- Drillhole WMA094-1: 3.41% eU3O8 over 9.9 metres, including 8.08% eU3O8 over 3.7 metres
These new drillholes expand the high-grade footprint at Pike Zone over 100 metres at the unconformity. The summer program consisted of 15 unconformity tests, with 12 at Pike Zone, 11 of which contained uranium mineralization. Results indicate a strike length of uranium mineralization along the unconformity target area of approximately 200 metres, remaining open in all directions.
CanAlaska holds an 83.35% ownership in the West McArthur project, which is a Joint Venture with Cameco The company is sole-funding the 2024 program, further increasing its majority ownership.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) has issued an early warning report regarding its acquisition of shares in Nexus Uranium Corp. (CSE: NEXU). On September 20, 2024, NEXU issued 3,042,123 common shares to CanAlaska as partial consideration for the Cree East property option agreement dated March 18, 2024. Prior to this acquisition, CanAlaska owned 2,091,269 NEXU shares (6.8% of outstanding shares). After the acquisition, CanAlaska now owns 5,133,392 NEXU shares, representing approximately 15.3% of outstanding NEXU shares on a non-diluted basis.
CanAlaska states that the acquired shares are held for investment purposes only. The company may acquire additional NEXU shares or dispose of them through market or private transactions in the future. Interested parties can obtain a copy of the early warning report from SEDAR+ or by contacting CanAlaska directly.
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