CANALASKA URANIUM LTD - CVVUF STOCK NEWS

CanAlaska Uranium has announced the results of its first summer program drillhole at the Pike Zone on the West McArthur Joint Venture project. Drillhole WMA082-7 intersected 3.44% eU3O8 over 21.6 meters, including 10.90% eU3O8 over 5.4 meters. This follows previous high-grade intersections at the site, specifically WMA082-6 (14.9% U3O8 over 9.6 meters) and WMA082-4 (9.9% U3O8 over 14.5 meters). CanAlaska holds an 83.35% ownership and is sole-funding the 2024 West McArthur program. The program aims to cover approximately 9,000 meters of drilling this summer, targeting 10-14 unconformity intersections.

The Pike Zone mineralization is characterized by massive to semi-massive clay-hosted uranium, with significant alterations in sandstone and basement rocks. The company plans further drilling to evaluate the extent of high-grade mineralization. Geochemical assays will be conducted at the Saskatchewan Research Council laboratories. The summer drill program is expected to complete by September 2024.

CanAlaska Uranium (TSXV: CVV, OTCQX: CVVUF, FSE: DH7) has initiated high-resolution helicopter-supported airborne surveys on its 100%-owned Frontier project in the northeastern Athabasca Basin. These surveys aim to identify basement conductors, map structural settings, and refine areas for ground prospecting. The project, near the McClean Lake mill complex and Roughrider uranium deposit, targets a 25-kilometre-long northeast trending magnetic low corridor. The VTEM Plus survey covers about 916 line-km at 200m spacing, followed by a 3,651 line-km magnetics and radiometrics survey at 50m spacing. These surveys will support drill target identification and are expected to be completed in 6-8 weeks, with results anticipated in Q3 2024.

CanAlaska Uranium has initiated its 2024 summer drill program at the West McArthur Joint Venture project, located in the eastern Athabasca Basin. The program, funded with $7.5 million, aims to expand the ultra high-grade Pike Zone uranium discovery. Recent intersections showed 14.9% U3O8 over 9.6 meters and 9.9% U3O8 over 14.5 meters. The project, a joint venture with Cameco, is primarily operated and funded by CanAlaska, which holds an 83.35% stake. The summer program will involve 9,000 meters of diamond drilling, targeting 10-14 unconformity intersections. CanAlaska also plans to explore additional targets in the vicinity.

The company aims to finish this phase by September 2024. Additionally, CanAlaska management will attend the Cormark Securities Energy Inflection Conference on June 19, 2024, in Toronto.

CanAlaska Uranium has reported results from its 2024 winter drill programs on the Geikie and Moon Lake South Projects. The Geikie Project revealed extensive hydrothermal alteration and structures linked to a large gravity anomaly at Preston Creek, with significant findings in holes GKI-010, GKI-014, and GKI-016. The Moon Lake South Project, a joint venture with Denison Mines, found additional uranium mineralization in three of the eight drill holes, notably MS-24-23, MS-24-25, and MS-24-27. These findings suggest potential for high-grade uranium deposits, with further exploration warranted. Geochemical assay results for both projects are pending.

CanAlaska has announced high-grade uranium assay results from its Pike Zone at the West McArthur Joint Venture, confirming significant intersections from the winter drilling program. Drillhole WMA082-6 showed 14.9% U3O8 over 9.6 meters, and WMA082-4 exhibited 9.9% U3O8 over 14.5 meters. The project, in collaboration with Cameco, is mainly funded by CanAlaska, which holds an 83.35% stake. Geochemical assays validate these results, which are important for future exploration and potential resource calculations. The summer drilling program is set to begin in June 2024, targeting additional high-grade zones.

CanAlaska Uranium announced that its partner, Bayridge Resources, has initiated exploration programs on the Constellation and Waterbury East projects in the Athabasca Basin. These projects use VTEM surveys to identify uranium targets. The Waterbury East Project covers 1,337 hectares, while the Constellation Project spans 11,142 hectares. These surveys will help delineate basement conductors and structural zones, which are important for future drilling. The initiative aligns with CanAlaska's strategic goals to advance uranium exploration, supported by rising uranium prices and increasing demand for clean energy.

CanAlaska Uranium has initiated high-resolution helicopter-supported airborne surveys on its Key Extension, Enterprise, Voyager, and Nebula projects near the Key Lake Uranium Mine and Mill. The surveys aim to identify basement conductors, refine areas of interest, and map the structural setting for future drill targets. These surveys are important in the Company's exploration strategy for basement-hosted uranium deposits in the southeastern Athabasca Basin region. CanAlaska CEO, Cory Belyk, highlights the importance of these assets in the Key Lake area and the potential for uranium discovery amidst strong market fundamentals and nuclear energy demand.

CanAlaska Uranium announces the acquisition of the Intrepid East and Intrepid West projects in the northeastern Athabasca Basin, totaling 58,747 hectares. These projects are strategically located near high-grade uranium deposits and infrastructure-rich areas. The company aims to leverage these projects through strategic partnerships to capitalize on the strong uranium market for potential discoveries.

CanAlaska Uranium reports high-grade uranium mineralization in winter drill program at West McArthur project. Drillhole WMA082-6 intersects 10.84% eU3O8 over 11.5m, including 12.99% eU3O8 over 9.5m. Winter program continues with focus on Pike Zone.