CanAlaska Intersects 13.61% eU3O8 over 10.9 metres at Pike Zone
CanAlaska Uranium (OTCQX: CVVUF) has announced significant results from its summer diamond drill program at the Pike Zone within the West McArthur Joint Venture project. Highlighted drillholes include WMA082-12, which intersected 13.61% eU3O8 over 10.9 metres, and WMA082-11, which intersected 4.77% eU3O8 over 25.9 metres. These results indicate high-grade unconformity-associated uranium mineralization, confirming potential extensions of the Pike Zone. CanAlaska, holding 83.35% ownership of the project, continues to sole-fund the 2024 program, which aims to delineate and expand uranium discoveries. The company anticipates completing the summer exploration by September, with further results pending. CEO Cory Belyk highlighted the tier 1 potential of the Pike Zone amid an improving uranium market, underscoring the zone's prolific nature and its alignment with nearby high-grade deposits.
CanAlaska Uranium (OTCQX: CVVUF) ha annunciato risultati significativi dal suo programma estivo di perforazione con diamante nella Pike Zone all'interno del progetto West McArthur Joint Venture. I fori di perforazione evidenziati includono WMA082-12, che ha intersecato 13,61% eU3O8 su 10,9 metri, e WMA082-11, che ha intersecato 4,77% eU3O8 su 25,9 metri. Questi risultati indicano mineralizzazione uranifera di alta qualità associata a incongruenze, confermando potenziali estensioni della Pike Zone. CanAlaska, che detiene l'83,35% della proprietà del progetto, continua a finanziare esclusivamente il programma del 2024, che mira a delineare ed espandere le scoperte di uranium. L'azienda prevede di completare l'esplorazione estiva entro settembre, con ulteriori risultati in arrivo. Il CEO Cory Belyk ha messo in evidenza il potenziale di classe 1 della Pike Zone in un mercato dell'uranio in miglioramento, sottolineando la natura prolifica della zona e la sua affinità con giacimenti di alta qualità nelle vicinanze.
CanAlaska Uranium (OTCQX: CVVUF) ha anunciado resultados significativos de su programa de perforación con diamante de verano en la Pike Zone dentro del proyecto West McArthur Joint Venture. Los agujeros de perforación destacados incluyen WMA082-12, que intersectó 13.61% eU3O8 sobre 10.9 metros, y WMA082-11, que intersectó 4.77% eU3O8 sobre 25.9 metros. Estos resultados indican mineralización de uranio de alta ley asociada a incongruencias, confirmando extensiones potenciales de la Pike Zone. CanAlaska, que posee el 83.35% de la propiedad del proyecto, continúa financiando exclusivamente el programa de 2024, que tiene como objetivo delinear y expandir los descubrimientos de uranio. La empresa anticipa completar la exploración de verano para septiembre, con más resultados pendientes. El CEO Cory Belyk destacó el potencial de primer nivel de la Pike Zone en un mercado de uranio en mejora, subrayando la naturaleza prolífica de la zona y su alineación con depósitos de alta ley cercanos.
CanAlaska 우라늄 (OTCQX: CVVUF)은 웨스트 맥아더 조인트 벤처 프로젝트 내 파이크 존에서 여름 다이아몬드 드릴 프로그램의 중요한 결과를 발표했습니다. 강조된 시추 구멍은 WMA082-12로, 10.9미터에서 13.61% eU3O8를 교차했습니다, WMA082-11은 25.9미터에서 4.77% eU3O8를 교차했습니다. 이러한 결과는 고품질 비불일치 관련 우라늄 광물화를 나타내며, 파이크 존의 잠재적 연장을 확인합니다. CanAlaska는 이 프로젝트의 83.35%를 보유하고 있으며, 우라늄 발견을 규명하고 확장할 목표로 2024년 프로그램을 독립적으로 자금 조달하고 있습니다. 이 회사는 9월까지 여름 탐사를 완료할 것으로 예상하며, 추가 결과가 대기 중입니다. CEO 코리 벨리크는 개선 중인 우라늄 시장 속에서 파이크 존의 1급 잠재력을 강조하며, 해당 지역의 풍부한 성격과 인근 고품질 매장물과의 일치를 강조했습니다.
CanAlaska Uranium (OTCQX: CVVUF) a annoncé des résultats significatifs de son programme d'exploration par forage diamanté d'été dans la Pike Zone au sein du projet West McArthur Joint Venture. Les carottes de forage mises en avant incluent WMA082-12, qui a intersecté 13,61% eU3O8 sur 10,9 mètres, et WMA082-11, qui a intersecté 4,77% eU3O8 sur 25,9 mètres. Ces résultats indiquent une minéralisation uranifère de haute qualité associée à des incongruences, confirmant les extensions potentielles de la Pike Zone. CanAlaska, détenant 83,35% de propriété du projet, continue de financer exclusivement le programme 2024, qui vise à délimiter et élargir les découvertes d'uranium. L'entreprise prévoit de terminer l'exploration estivale d'ici septembre, avec d'autres résultats en attente. Le PDG Cory Belyk a souligné le potentiel de classe 1 de la Pike Zone dans un marché de l'uranium en amélioration, mettant en avant la nature prolifique de cette zone et son alignement avec des dépôts de haute qualité à proximité.
CanAlaska Uranium (OTCQX: CVVUF) hat bedeutende Ergebnisse aus seinem Sommer-Diamantbohrprogramm in der Pike Zone innerhalb des West McArthur Joint Venture-Projekts bekannt gegeben. Hervorzuhebende Bohrlöcher sind WMA082-12, das 13,61% eU3O8 über 10,9 Meter durchschnitt, und WMA082-11, das 4,77% eU3O8 über 25,9 Meter durchschnitt. Diese Ergebnisse weisen auf hochgradige uranfördernde Mineralisierung hin, die mit Unregelmäßigkeiten verbunden ist, und bestätigen potenzielle Erweiterungen der Pike Zone. CanAlaska, das 83,35% des Projekts besitzt, finanziert weiterhin ausschließlich das Programm 2024, das darauf abzielt, Uranentdeckungen zu umreißen und zu erweitern. Das Unternehmen erwartet, die Sommererkundung bis September abzuschließen, mit weiteren Ergebnissen, die noch ausstehen. CEO Cory Belyk hob das Tier-1-Potenzial der Pike Zone in einem sich verbessernden Uranmarkt hervor und betonte die produktive Natur der Zone sowie ihre Übereinstimmung mit nahegelegenen hochgradigen Lagerstätten.
- Intersections of 13.61% eU3O8 over 10.9 metres indicating high-grade uranium mineralization.
- Extension of Pike Zone with 4.77% eU3O8 over 25.9 metres confirming potential for significant uranium expansion.
- CanAlaska holds 83.35% ownership and is sole-funding the 2024 program, enhancing its majority stake.
- Positive market outlook for uranium, increasing investor interest.
- Isolated intervals of core loss were recorded due to intense alteration and quartz dissolution.
Ultra High-Grade Unconformity-Hosted Uranium Mineralization Is Within Zone of
Multiple Ultra High-Grade Uranium Intersections on Adjacent Section Confirm Pike Zone Extension; Target Remains Open
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2024) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to provide an update on the summer diamond drill program at the Pike Zone on the West McArthur Joint Venture project (the "Project") in the eastern Athabasca Basin. Multiple drillholes, highlighted by WMA082-12 which intersected
Figure 1 – West McArthur Project Location
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CanAlaska CEO, Cory Belyk, comments, "The continued intersection of ultra high-grade uranium mineralization at Pike Zone this summer is an amazing result for CanAlaska, our shareholders, and the Joint Venture. Unconformity mineralization is now repeatable along strike from the original discovery holes and remains open in all directions including within the basement rocks below the unconformity. The results of the summer program clearly indicate the tier 1 potential of the Pike Zone along what is fast becoming a very prolific uranium mineralizing corridor which already includes the high-grade Fox Lake uranium deposit. I look forward to announcement of further drill results from the summer program in the context of an improving uranium market and return of investor interest."
Figure 2 – L85E Drill Fence Results
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L85E Summary
Drillholes reported within this release, combined with previously reported drillhole WMA082-8 (See News Release Dated July 16th, 2024), represent drilling to date along a new section (L85E) stepping out to the east at the Pike Zone. WMA082-11 and WMA082-12 extend the ultra high-grade unconformity-associated uranium mineralization from the L70E fence (WMA082-4/-5/-6/-7) to the east. WMA082-9, WMA082-14, and WMA082-8 extend the high-grade basement-hosted uranium mineralization down into the basement along the controlling structures. WMA082-13 overshot the basement wedge due to a significant unconformity elevation difference of approximately 15 metres caused by fault offset along the C10S corridor. This structural offset is indicative of post-Athabasca Basin re-activation along the C10S corridor and represents an important control for fluid movement and trap for mineralization along the unconformity. The ultra high-grade unconformity target at the Pike Zone remains open.
Table 1 - Radiometric Equivalent Uranium Grades
| DDH | From (m) | To (m) | Length (m)4 | Average Grade (% eU3O8)5 |
| WMA082-91,2 | 799.6 | 800.5 | 0.9 | 0.23 |
| WMA082-91,2 | 810.1 | 810.4 | 0.3 | 0.14 |
| WMA082-91,2 | 816.0 | 818.3 | 2.3 | 0.99 |
| including3 | 817.2 | 817.6 | 0.4 | 2.59 |
| WMA082-91,2 | 822.6 | 825.3 | 2.7 | 0.90 |
| including3 | 823.0 | 823.5 | 0.5 | 2.96 |
| WMA082-91,2 | 826.6 | 827.3 | 0.7 | 0.13 |
| WMA082-91,2 | 844.4 | 846.2 | 1.8 | 0.26 |
| WMA082-111,2 | 795.9 | 821.8 | 25.9 | 4.77 |
| including3 | 796.9 | 813.2 | 16.3 | 6.30 |
| including3 | 814.5 | 818.4 | 3.9 | 3.79 |
| including3 | 820.2 | 821.3 | 1.1 | 3.40 |
| WMA082-121,2 | 797.0 | 813.2 | 16.2 | 9.30 |
| including3 | 801.1 | 812.0 | 10.9 | 13.61 |
| WMA082-141,2 | 838.8 | 840.4 | 1.6 | 1.45 |
| including3 | 839.2 | 839.8 | 0.6 | 3.17 |
| WMA082-141,2 | 843.3 | 846.8 | 3.5 | 1.12 |
| including3 | 843.7 | 844.2 | 0.5 | 4.28 |
| WMA082-141,2 | 848.0 | 848.6 | 0.6 | 0.37 |
| WMA082-141,2 | 878.9 | 880.4 | 1.5 | 0.35 |
| ||||
Drillhole Details:
WMA082-9: The lower sandstone column of WMA082-9 is strongly bleached with limonite alteration extending over 60 metres above the unconformity. Within the lower sandstone column, multiple metre-scale fault zones were intersected and are characterized by broken and blocky core, zones of quartz dissolution, hydrothermal dravitic breccias, and clay gouge that are locally associated with grey sooty pyrite alteration. One interval of unconformity-associated uranium mineralization was intersected within the grey altered sandstone (Figure 2; Table 1). The unconformity contact between the Athabasca sandstone and underlying basement rocks is interpreted to be at 801.7 metres down hole. Several intervals of basement-hosted uranium mineralization were intersected throughout the graphitic pelitic rocks (Figure 2; Table 1). These zones are characterized by structurally controlled, disseminated, and foliation-controlled uranium mineralization. The basement is strongly clay and chlorite altered as a broad halo around the basement-hosted uranium mineralization with multiple re-activated fault zones throughout the interval.
Figure 3 – WMA082-12 Core Photograph
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WMA082-11: The lower sandstone column of WMA082-11 is strongly bleached with limonite alteration extending over 80 metres above the unconformity. Within the lower sandstone column, multiple metre-scale fault zones were intersected and are characterized by broken and blocky core, zones of quartz dissolution, large hydrothermal dravitic breccias, and clay gouge. The unconformity contact between the Athabasca sandstone and underlying basement rocks is interpreted to be at approximately 803.0 metres down hole. WMA082-11 contains one main interval of unconformity-associated uranium mineralization characterized by massive to semi-massive mineralization associated with strong sooty pyrite, dark red hematite, and intense grey clay replacement alteration immediately around the unconformity contact (Figure 2; Table 1). The lower portion of the unconformity-associated uranium mineralization is structurally controlled, with localized intervals of semi-massive, blebby, and foliation-controlled mineralization within the graphitic pelite rocks (Figure 2; Table 1). Within the mineralized interval, isolated intervals of core loss were recorded due to intense alteration and quartz dissolution. The basement is strongly clay and chlorite altered as a broad halo around the high-grade uranium mineralization with multiple re-activated fault zones throughout the interval.
WMA082-12: The lower sandstone column of WMA082-12 is strongly bleached with limonite alteration extending over 100 metres above the unconformity. Within the lower sandstone column, multiple metre-scale fault zones were intersected and are characterized by broken and blocky core, zones of quartz dissolution, large hydrothermal dravitic breccias, and clay gouge. The unconformity contact between the Athabasca sandstone and underlying basement rocks is interpreted to be at approximately 803.0 metres down hole. WMA082-12 contains one main interval of unconformity-associated uranium mineralization characterized by massive to semi-massive, blebby, disseminated, and structurally controlled mineralization associated with strong sooty pyrite, bright red hematite, and intense grey clay replacement alteration immediately around the unconformity contact (Figure 2; Figure 3; Table 1). Within the mineralized interval, isolated intervals of core loss were recorded due to intense alteration and quartz dissolution. The basement is strongly clay and chlorite altered as a broad halo around the high-grade uranium mineralization with multiple re-activated fault zones throughout the interval.
WMA082-13: The lower sandstone column of WMA082-13 is strongly bleached with limonite alteration extending over 100 metres above the unconformity. Within the lower sandstone column, multiple metre-scale fault zones were intersected and are characterized by broken and blocky core, zones of quartz dissolution, large hydrothermal dravitic breccias, and clay gouge. In the lower sandstone column, these fault zones are associated with strong grey sooty pyrite alteration. The unconformity contact between the Athabasca sandstone and underlying basement rocks is interpreted to be at approximately 821.8 metres down hole. The upper basement of WMA082-13 is clay and chlorite altered. WMA082-13 overshot the basement wedge due to a significant unconformity elevation difference of approximately 15 metres caused by the controlling structures along C10S corridor.
WMA082-14: The lower sandstone column of WMA082-9 is strongly bleached with limonite alteration extending over 30 metres above the unconformity. Within the altered lower sandstone column, metre-scale fault zones are concentrated around the unconformity and are characterized by broken and blocky core with associated quartz dissolution and clay gouge that contain grey sooty pyrite alteration. The unconformity contact between the Athabasca sandstone and underlying basement rocks is interpreted to be at 797.8 metres down hole. Several intervals of basement-hosted uranium mineralization were intersected throughout the graphitic pelite rocks (Figure 2; Table 1). These zones are characterized by structurally controlled, disseminated, and foliation-controlled uranium mineralization. The basement is clay and chlorite altered as a broad halo around the basement-hosted uranium mineralization with multiple re-activated fault zones throughout the interval.
Summer Drill Program
The summer drill program on the West McArthur project is currently ongoing and the Company is on track to achieve approximately 15 unconformity target intersections. The Company is continuing to use downhole mud-motor deviation technology for increased drilling efficiency and targeting capability. The primary objective for the summer drilling program is delineation and expansion of the ultra high-grade Pike Zone uranium discovery at the unconformity and within the upper basement. A secondary objective is Pike Zone extension testing along the C10S corridor searching for additional zones of ultra high-grade uranium mineralization.
The Company expects to complete the summer portion of the 2024 exploration program in September. Geochemical assays from the summer portion of the 2024 exploration program are pending.
Geochemical Sampling Procedures and Use of Radiometric Equivalent Grades
All drill core samples from the program will be shipped to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on downhole probing radiometric equivalent uranium grades and scintillometer (SPP2 or CT007-M) peaks. Assay sample intervals comprise 0.3 - 0.8 metre continuous half-core split samples over the mineralized intervals. With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by CanAlaska and the SRC in accordance with CanAlaska's quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by CanAlaska prior to disclosure.
During active exploration programs drillholes are radiometrically logged using calibrated downhole GeoVista NGRS and TGGS (Triple GM) gamma probes which collect continuous readings along the length of the drillhole. Preliminary radiometric equivalent uranium grades ("eU3O8") are then calculated from the downhole radiometric results. The probe is calibrated using an algorithm calculated from the calibration of the probe at the Saskatchewan Research Council facility in Saskatoon and from the comparison of probe results against geochemical analyses. At extremely high radiometric equivalent uranium grades, downhole gamma probes may become saturated, resulting in the probe being overwhelmed, which in turn can create difficulties in accurately determining extremely high-grade radiometric equivalent uranium grades, and a cap may be applied to the grade. The equivalent uranium grades are preliminary and are subsequently reported as definitive assay grades following sampling and chemical analysis of the mineralized drill core. In the case where core recovery within a mineralized intersection is poor or non-existent, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by CanAlaska prior to disclosure.
All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.
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
Tel: +1.306.668.6900
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.306.668.6915
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.
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FAQ
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