CanAlaska Announces Start of Drill Program at Waterbury East Uranium Project
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) annuncia l'inizio di un programma di perforazione di 2.100 metri presso il progetto uranium Waterbury East nella parte nord-orientale del Bacino di Athabasca. Il programma, interamente finanziato da Bayridge Resources Corp. sotto un accordo di opzione, si concentrerà su nuovi obiettivi geofisici aerei ad alta risoluzione e seguirà i risultati storici delle perforazioni.
Punti chiave:
- Previste 4-6 perforazioni
- Aree obiettivo basate su risultati storici e nuovi dati del sondaggio VTEM
- Progetto situato a 25 km a nord-est della miniera di Cigar Lake
- L'interpretazione del VTEM suggerisce che le perforazioni storiche potrebbero aver perso obiettivi conduttivi
Il CEO Cory Belyk esprime ottimismo riguardo al potenziale del progetto, citando solidi fattori di mercato per l'uranio e la vicinanza del progetto alle infrastrutture minerarie esistenti.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) anuncia el inicio de un programa de perforación de 2,100 metros en el proyecto de uranio Waterbury East, ubicado en el noreste de la Cuenca de Athabasca. El programa, completamente financiado por Bayridge Resources Corp. bajo un acuerdo de opción, se centrará en nuevos objetivos geofísicos aéreos de alta resolución y se realizará un seguimiento de los resultados históricos de perforación.
Puntos clave:
- Se planean de 4 a 6 perforaciones
- Áreas objetivo basadas en resultados históricos y nuevos datos del estudio VTEM
- El proyecto está ubicado a 25 km al noreste de la mina Cigar Lake
- La interpretación del VTEM sugiere que las perforaciones históricas pueden haber pasado por alto objetivos conductivos
El CEO Cory Belyk expresa optimismo sobre el potencial del proyecto, citando sólidos fundamentos de mercado para el uranio y la proximidad del proyecto a la infraestructura minera existente.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF)는 아타바스카 분지 북동부에 위치한 워터버리 이스트 우라늄 프로젝트에서 2,100미터 드릴 프로그램을 시작한다고 발표했습니다. 이 프로그램은 베이리지 자원 회사가 옵션 계약에 따라 전액 자금을 지원하며, 새롭게 개발된 고해상도 공중 지구물리학적 목표에 집중하고 역사적 드릴링 결과를 후속 점검할 예정입니다.
주요 사항:
- 4~6개의 드릴 홀 계획
- 역사적 결과 및 새로운 VTEM 조사 데이터를 바탕으로 한 목표 지역
- 프로젝트는 시가 호수 광산에서 북동쪽으로 25km 떨어져 위치
- VTEM 해석 결과는 역사적 드릴링이 전도성 목표를 놓쳤을 가능성을 시사
CEO 코리 벨릭은 프로젝트의 잠재력에 대해 낙관적인 입장을 보이며, 우라늄에 대한 강한 시장 기본 요소와 기존 채굴 인프라와의 근접성을 언급했습니다.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) annonce le début d'un programme de forage de 2 100 mètres au projet d'uranium Waterbury East, situé dans le nord-est du bassin d'Athabasca. Le programme, entièrement financé par Bayridge Resources Corp. dans le cadre d'un accord d'option, se concentrera sur de nouveaux objectifs géophysiques aériens haute résolution et fera suite aux résultats de forage historiques.
Points clés :
- 4 à 6 trous de forage prévus
- Zones cibles basées sur des résultats historiques et de nouvelles données du sondage VTEM
- Projet situé à 25 km au nord-est de la mine de Cigar Lake
- L'interprétation de la VTEM suggère que les forages historiques ont pu manquer des cibles conductrices
Le PDG Cory Belyk exprime son optimisme quant au potentiel du projet, citant de solides fondamentaux du marché pour l'uranium et la proximité du projet avec l'infrastructure minière existante.
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) gibt den Beginn eines 2.100 Meter-Bohrprogramms im Uranprojekt Waterbury East im nordöstlichen Athabasca-Becken bekannt. Das Programm, das vollständig von Bayridge Resources Corp. im Rahmen einer Optionsvereinbarung finanziert wird, wird sich auf neu entwickelte hochauflösende luftgestützte geophysikalische Zielsetzungen konzentrieren und die historischen Bohrergebnisse nachverfolgen.
Wichtige Punkte:
- 4 bis 6 Bohrlöcher geplant
- Zielgebiete basierend auf historischen Ergebnissen und neuen VTEM-Umfragedaten
- Projekt befindet sich 25 km nordöstlich der Cigar Lake Mine
- VTEM-Interpretation deutet darauf hin, dass historische Bohrungen möglicherweise leitfähige Ziele verpasst haben
CEO Cory Belyk äußert Optimismus hinsichtlich des Potenzials des Projekts und verweist auf starke Marktgrundlagen für Uran sowie die Nähe des Projekts zu vorhandenen Bergbauinfrastrukturen.
- New high-resolution airborne geophysical targets identified
- Fully partner-funded drill program
- Strategic location near existing mining infrastructure
- Potential for new uranium deposit discovery
- Historical drilling may have been insufficient to intersect conductive targets
Modern Airborne VTEM Survey Highlights New Target Areas
Drill Program is Fully Partner-Funded Under an Option Agreement
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2024) - Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce mobilization of drill crews and equipment as part of the 2024 drill program on the Waterbury East uranium project (the "Project"). The 2024 Waterbury East drill program will focus on newly developed high-resolution airborne geophysical targets in combination with direct follow up of historical drilling results. The Waterbury East Project is located in the northeastern Athabasca Basin 25 kilometres northeast of the Cigar Lake Mine (Figure 1). The Waterbury East project is currently being sole-funded by Bayridge Resources Corp. (CSE: BYRG) under an option agreement with the Company.
Figure 1 – Waterbury East Project Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/225316_2892bf1cc4d47bb0_002full.jpg
2024 Waterbury East Exploration Program
The planned 2,100 metre program will consist of 4 to 6 drill holes testing multiple targets. Target areas have been generated based on historical drill results combined with newly developed high-resolution airborne geophysical targets. The new airborne geophysical targets are from a recently completed helicopter-supported Versatile Time-Domain Electromagnetic (VTEM) survey on the Project which was designed to identify and prioritize basement conductors, characterize lithological and alteration features, map the structural setting of the project, and produce priority drill targets. VTEM interpretation by in3D Geoscience indicates that the historical drilling on the project may have been insufficient to intersect the conductive targets.
Figure 2 – Waterbury East 2024 Drill Target Area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/225316_2892bf1cc4d47bb0_004full.jpg
CanAlaska CEO, Cory Belyk, comments, "I am very pleased the Bayridge team is moving the Waterbury East project forward with drilling in 2024. Results from the recently completed VTEM survey highlight new targets that will be a focus in this drilling campaign. This project is very well situated in the heart of the eastern Athabasca Basin near mining and milling infrastructure owned by Cameco and Orano. Market fundamentals are strong and the time is now for uranium deposit discovery, making the Waterbury East drilling program very well timed. I look forward to delivering results from this drilling program to our shareholders through the fall and early winter."
About the Waterbury East Project
The Waterbury East Project is located in the northeastern Athabasca Basin, 25 kilometres northeast of the Cigar Lake Mine. The Project has approximately 200 metres of Athabasca sandstone cover overlying the basement rocks of the Wollaston Domain. The Project consists of 1 mineral claim covering 1,337 hectares.
Early exploration on the Waterbury East Project consisted of historical regional and project scale ground and airborne geophysical surveys, followed by focused prospecting and boulder sampling programs. CanAlaska acquired the Project in the early 2000's through staking and completed property-wide airborne geophysical surveys, including GEOTEM and VTEM. Following the geophysical surveys, six drillholes were completed on the conductive corridor, with results highlighted by faulted and altered basement rocks containing local uranium enrichment.
Other News
The Company will be presenting a webinar hosted by Red Cloud on October 2nd, 2024. Registration is available through the following link: https://redcloudfs.com/events/rcwebinar-cvv-4/
The Company invites you to view a special video tour of the West McArthur uranium project. This video provides an exclusive look at our key exploration activities and the exciting potential of the Pike Zone discovery. The video tour is available on the Company's YouTube channel or through the following link: Inside West McArthur: Exploring High-Grade Uranium with CEO Cory Belyk and VP Nathan Bridge (youtube.com)
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) is a Canadian based exploration company and holds interest in approximately 500,000 hectares (1,235,000 acres) in Canada's Athabasca Basin focused on exploration and discovery of high-grade unconformity uranium deposits. The Company is actively advancing the Pike Zone discovery - a new high-grade uranium discovery on its West McArthur Joint Venture project in the eastern Athabasca Basin. In addition, the Company has several other uranium-focused exploration programs. CanAlaska deploys a hybrid project generator model, focusing on the acquisition and sale of prospective projects, while also executing exploration programs on CanAlaska's most strategic land holdings. The Company's extensive portfolio has attracted international mining companies, including Cameco Corporation and Denison Mines as active partners. CanAlaska is led by an experienced team of professionals with a proven track record of discovery.
The Company's head office is in Saskatoon, Saskatchewan, Canada with a satellite office in Vancouver, BC, Canada. For further information visit www.canalaska.com.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
| Cory Belyk, CEO and President | General Enquiry |
| Tel: +1.306.668.6900 | Tel: +1.306.668.6915 |
| Email: cbelyk@canalaska.com | Email: info@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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225316
FAQ
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