High grade uranium mineralization continues to be found in the Athabasca Basin of Saskatchewan, with CanAlaska Uranium (TSXV: CVV) being the latest explorer to hit high grade.
The company managed to intersect multiple intervals of high grade mineralization at the Pike Zone of its West McArthur joint venture project, found on the eastern side of the basin. Highlights from the results include:
- WMA082-11: 4.77% eU3O8 over 25.9 metres from a depth of 795.9 metres
- Including 6.30% eU3O8 over 16.3 metres
- WMA082-12: 9.30% eU3O8 over 16.2 metres from a depth of 797.0 metres
- Including 13.61% eU3O8 over 10.9 metres
- WMA-082-14: 1.12% eU3O8 over 3.5 metres from a depth of 843.8 metres
The holes are said to have intersected unconformity-associated uranium mineralization, which along with previously reported hole WMA082-8 which hit 6.87% eU3O8 over 16.9 metres, indicates a potential extension of high grade mineralization at the Pike Zone.
“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,” commented CanAlaska CEO Cory Belyk on the results.
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Drilling remains ongoing at West McArthur, with the company expected to achieve 15 unconformity target intersections under the current program. Exploration at site is expected to be wrapped up by the end of September.
CanAlaska Uranium last traded at $0.69 on the TSX Venture.
Information for this story was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
