CanAlaska Plans Aggressive 2025 Exploration Program at West McArthur Joint Venture
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 (CVVUF) ha annunciato piani di esplorazione aggressivi per il 2025, con un programma di perforazione di 12,5 milioni di dollari nel progetto West McArthur Joint Venture, focalizzandosi sulla scoperta di uranio nella Pike Zone. Il programma, che inizierà a gennaio 2025, dispiegherà tre trivelle per la deliniamentazione e l'espansione della mineralizzazione di uranio ad altissima concentrazione.
Il programma estivo 2024 della Pike Zone ha prodotto risultati impressionanti, con 11 delle 12 perforazioni che hanno intersecato la mineralizzazione di uranio lungo una lunghezza di strike di 200 metri che rimane aperta in tutte le direzioni. L'azienda condurrà anche esplorazioni nel progetto Cree East, per il quale Nexus Uranium Corp sta fornendo interamente i fondi sotto un accordo di opzione che può valere fino a 19 milioni di dollari.
CanAlaska detiene attualmente una partecipazione dell'85,79% nel progetto West McArthur e aumenterà la sua quota mediante il finanziamento esclusivo del programma 2025. L'azienda è completamente finanziata per completare i suoi programmi di esplorazione pianificati per il 2025.
CanAlaska Uranium (CVVUF) ha anunciado planes de exploración agresivos para 2025, que incluyen un programa de perforación de 12.5 millones de dólares en el proyecto West McArthur Joint Venture, con un enfoque en el descubrimiento de uranio en la Pike Zone. El programa, que comenzará en enero de 2025, desplegará tres plataformas de perforación para la delimitación y expansión de la mineralización de uranio de ultra alta ley.
El programa de verano 2024 de la Pike Zone produjo resultados impresionantes, con 11 de los 12 pozos de perforación intersectando mineralización de uranio a lo largo de una longitud de strike de 200 metros que permanece abierta en todas las direcciones. La compañía también realizará exploración en el proyecto de uranio Cree East, que está siendo financiado en su totalidad por Nexus Uranium Corp bajo un acuerdo de opción que vale hasta 19 millones de dólares.
CanAlaska actualmente posee un 85.79% de propiedad en el proyecto West McArthur y aumentará su participación mediante la financiación exclusiva del programa 2025. La empresa está completamente financiada para completar sus programas de exploración planificados para 2025.
CanAlaska 우라늄 (CVVUF)은 2025년을 위한 공격적인 탐사 계획을 발표했습니다. 이 계획은 1,250만 달러의 시추 프로그램을 포함하여 West McArthur 합작 투자 프로젝트에서 Pike Zone 우라늄 발견을 중심으로 하고 있습니다. 이 프로그램은 2025년 1월에 시작되며, 초 고품위 우라늄 광물화를 구분하고 확장하기 위해 3대의 시추기를 배치할 예정입니다.
Pike Zone의 2024년 여름 프로그램은 12개의 시추 홀 중 11개가 200미터의 스트라이크 길이를 따라 우라늄 광물화와 교차하여 인상적인 결과를 낳았습니다. 이 회사는 또한 Nexus Uranium Corp가 최대 1,900만 달러 규모의 옵션 계약하에 단독 자금을 지원하는 Cree East 우라늄 프로젝트에서 탐사를 실시할 것입니다.
CanAlaska는 현재 West McArthur 프로젝트에 85.79%의 지분을 보유하고 있으며, 2025년 프로그램에 대한 단독 자금 제공을 통해 지분을 늘릴 것입니다. 이 회사는 2025년 계획된 탐사 프로그램을 완성하기 위해 완전히 자금 지원을 받았습니다.
CanAlaska Uranium (CVVUF) a annoncé des plans d'exploration agressifs pour 2025, incluant un programme de forage de 12,5 millions de dollars dans le projet West McArthur Joint Venture, axé sur la découverte d'uranium dans la Pike Zone. Le programme, qui débutera en janvier 2025, déploiera trois foreuses pour délimiter et étendre la minéralisation d'uranium de très haute teneur.
Le programme d'été 2024 de la Pike Zone a produit des résultats impressionnants, avec 11 des 12 trous de forage intersectant la minéralisation d'uranium sur une longueur de 200 mètres ouverte dans toutes les directions. L'entreprise effectuera également des explorations sur le projet d'uranium Cree East, qui est entièrement financé par Nexus Uranium Corp dans le cadre d'un accord d'option d'une valeur allant jusqu'à 19 millions de dollars.
CanAlaska détient actuellement 85,79% de propriété dans le projet West McArthur et augmentera sa part par le financement exclusif du programme 2025. L'entreprise est entièrement financée pour achever ses programmes d'exploration prévus pour 2025.
CanAlaska Uranium (CVVUF) hat aggressive Erkundungspläne für 2025 angekündigt, einschließlich eines Bohrprogramms im Wert von 12,5 Millionen Dollar im West McArthur Joint Venture-Projekt, das sich auf die Uranentdeckung in der Pike Zone konzentriert. Das Programm, das im Januar 2025 beginnen soll, wird drei Bohranlagen zur Abgrenzung und Erweiterung der hochgradigen Uranmineralisierung einsetzen.
Das Sommerprogramm 2024 der Pike Zone lieferte beeindruckende Ergebnisse, wobei 11 von 12 Bohrlöchern Uranmineralisierung über eine Streckenlänge von 200 Metern schnitt, die in alle Richtungen offen bleibt. Das Unternehmen wird auch Erkundungen im Cree East Uranprojekt durchführen, das von Nexus Uranium Corp im Rahmen einer Optionsvereinbarung mit einem Gegenwert von bis zu 19 Millionen Dollar vollständig finanziert wird.
CanAlaska hält derzeit 85,79% der Anteile am West McArthur-Projekt und wird seinen Anteil durch die alleinige Finanzierung des Programms 2025 erhöhen. Das Unternehmen ist vollständig finanziert, um die geplanten Erkundungsprogramme im Jahr 2025 abzuschließen.
- Pike Zone discovery showed 11 out of 12 drill holes with uranium mineralization
- Company is fully funded for 2025 exploration programs
- Increasing ownership stake in West McArthur project through sole-funding
- $19 million potential earn-in agreement with Nexus Uranium for Cree East project
- Expanding exploration with three active drill rigs at Pike Zone
- Geochemical assay results from summer 2024 exploration still pending
Partner Funded Winter Drill Program at Cree East Project Announced
Saskatoon, Saskatchewan--(Newsfile Corp. - January 7, 2025) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is preparing for winter drill programs at two of it's projects in the southeastern Athabasca Basin (Figure 1).
Figure 1 – Project Locations Map
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An approved
2025 West McArthur Exploration Program
In 2024, the Company announced the intersection of ultra high-grade unconformity-associated uranium mineralization at the Pike Zone. The recently completed summer drill program, consisting of 12 unconformity tests at the Pike Zone, returned 11 intersections of uranium mineralization. The results of the summer drill program indicate a strike length of uranium mineralization along the unconformity target area of approximately 200 metres that remains open in all directions. Multiple drill fences within the unconformity target area define a high-grade core that remains open and extends for at least 100 metres in strike length.
Figure 2 – West McArthur Pike Zone Winter Drill Plan
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Starting in January of 2025, the Company will have three drills active on the Pike Zone. The drill rigs will be focused on delineation of the Pike Zone within the currently understood footprint. In addition, the Company plans to continue calculated step outs along the C10S corridor from the Pike Zone to evaluate for additional zones of uranium mineralization (Figure 2). To the west of the Pike Zone, where the high-grade core remains completely open, the C10S corridor remains untested for approximately 1,000 metres.
As part of the 2025 exploration program, the Company is also planning a ground-based electromagnetic survey to investigate the extension of the C10S corridor to the southwestern property boundary. Historical EM coverage will be replaced with modern Stepwise Moving Loop Time Domain Electromagnetics, utilizing the same survey design that led to the discovery of the Pike Zone.
The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska that holds an estimated
The remainder of the geochemical assay results from the summer portion of the 2024 exploration program are pending.
2025 Cree East Winter Exploration Program
A winter drill program is planned to start in Q1 of 2025 for the Cree East uranium project located in the southeastern Athabasca Basin. The planned program will focus on a series of high-priority target areas identified based on the results of historical drilling and re-interpreted geophysical surveys (Figure 3). The Cree East project has had over
Figure 3 – Cree East Drill Targets
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Several targets have been identified for the multi-phase program, with the initial testing to focus on Area B followed by Areas A, I, and an untested conductor trend.
The Cree East project is currently being sole-funded by Nexus Uranium Corp (CSE: NEXU) under an option earn-in agreement with the Company that could see up to
Additional 2025 Exploration Programs
The Company is preparing several additional discovery opportunities within its 500,000-hectare eastern Athabasca-focused land portfolio.
The Company continues to deploy a hybrid explorer and project generator model, actively seeking new partners to advance the other projects in its large exploration portfolio and seeking new opportunities through strategic land staking.
CanAlaska CEO, Cory Belyk, comments, "The results from the West McArthur Joint Venture and the Pike Zone discovery in 2024 were exceptional and I am pleased with the planned drilling program designed by the CanAlaska team to delineate and extend the ultra high-grade Pike Zone in early 2025. In addition, I am excited to report to our shareholders that CanAlaska has an opportunity to significantly increase its joint venture ownership in this impressive discovery through sole-funded exploration which provides a unique circumstance to build incredible value for our shareholders in the eastern Athabasca Basin's newest high-grade uranium discovery. Our recently completed bought deal financing has CanAlaska fully funded to meet its objectives at Pike Zone in 2025. Market fundamentals remain very strong and now is the time for significant new uranium discoveries to fuel the future with clean baseload energy."
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. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. 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. Actual events or results may differ materially from those projected in the forward-looking statements and the Company cautions against placing undue reliance thereon. The Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236231
FAQ
What is the budget for CanAlaska's (CVVUF) 2025 West McArthur exploration program?
How many drill rigs will CVVUF deploy at the Pike Zone in 2025?
What was the success rate of Pike Zone's summer 2024 drilling program?
What is CanAlaska's (CVVUF) current ownership percentage in the West McArthur project?
How much is the Nexus Uranium earn-in agreement worth for CVVUF's Cree East project?
