CanAlaska Uranium (TSXV: CVV) is said to be gearing up for significant exploration in 2026, with the company approving an exploration budget of $15 million for 2026. Those funds are to be spent at the West McArthur Joint Venture, which the company holds an 88.86% interest in.
Exploration under the 2026 season is set to focus on continued step outs from the high grade mineralization found at the Pike Zone in search of further uranium mineralization. The Pike Zone has now been identified as being at least 500 metres in length, which includes a 140 metre long high grade pod.
Drilling at Pike in 2025 had several notable intersections, including 8.6 metres of 34.59% U3O8 in hole WMA079-01 and 14.8 metres of 14.71% U3O8 in hole WMA076-01. Hydrothermal alteration, structural disruption, and uranium mineralization was also found to increase to the southwest along the C10S trend, 250 metres away from the high-grade zone, suggesting more uranium mineralization remains to be found at West McArthur.
Drilling is set to begin in early January with three drills expected to begin turning, focused on continued step outs from Pike to the southwest and northeast along the C10S trend. The trend remains untested for 800 metres to the southwest and for 500 metres to the northeast along strike. The corridor as a whole meanwhile has up to 9 kilometres of untested target corridor to the southwest, and up to six kilometres to the northeast.
The 2026 program will also see ground based electromagnetics conducted on the extension of the Epp Lake conductor at West McArthur, which is to be completed by Abitibi Geophysics.
The $15 million exploration program planned for 2026 is expected to be co-funded on a pro-rata basis by CanAlaska and Cameco, their joint venture partner.
“The CanAlaska team believes the 2025 program delivered on our mandates: 1) to delineate and expand the known footprint of the high-grade uranium mineralization at Pike Zone; and 2) to evaluate the nearby C10S corridor for additional uranium mineralization. Both mandates were successfully met as part of the 2025 program and the Pike Zone unconformity uranium mineralization now has a strike length of 500 metres and remains open in both directions for potential expansion. We look forward to advancing the West McArthur project to the next level of understanding in 2026,” commented Cory Belyk, CEO of CanAlaska Uranium.
CanAlaska Uranium last traded at $0.69 on the TSX Venture.
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