CanAlaska Uranium (TSXV: CVV) finally has geochemical assays in hand for drilling that was conducted as part of an ongoing winter exploration program at its West McArthur joint venture with Cameco Corp (TSX: CCO). The company has confirmed the intersection of high grade uranium at the project.
Highlights from the results include:
- WMA082-4: 7.4% U3O8 over 19.5 metres at a depth of 796.5 metres, including 9.9% U3O8 over 14.5 metres
- WMA082-5: 1.5% U3O8 over 4.6 metres at a depth of 804.3 metres
- WMA082-6: 12.9% U3O8 over 11.1 metres at a depth of 798.0 metres, including 14.9% U3O8 over 9.6 metres
The drill results come from the Pike Zone, where the company was following up on a prior discovery. The program as a whole saw eight drill holes conducted across an aggregate 6,201 metres. Results from the program amount to the highest grade results to date from the project.
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Mineralization is said to have been intersected at the contact between the Athabasca sandstone and the underlying basement rocks. The unconformity target is said to remain open in all directions currently.
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“Assay confirmation of the very high-grade uranium mineralization encountered at Pike Zone in the winter program is a critical step in evaluating the next steps for the project and the joint venture. The CanAlaska team will focus on expanding the known zone of unconformity-associated high-grade uranium during the upcoming summer drilling program scheduled to commence in early June,” commented CanAlaska CEO Cory Belyk.
Drilling under a summer 2024 program is slated to consist of two drill rigs that will aim to drill 9,000 metres in aggregate, with the program anticipated to be completed by September.
CanAlaska last traded at $0.63 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
