CanAlaska Uranium Ltd. – Drill program update – Drilling at Black Lake commences
During the late summer and fall of 2008, surface sampling of uranium-rich boulders and outcrop provided the Company with strong evidence of uranium mineralizing events associated with the target areas. Previous exploration in this area had been undertaken in the 1960′s by Mokta, and in the 1970′s-1980′s by Eldorado Nuclear. There has been no exploration on the project area since it became part of the Black Lake Denesuline First Nation Reserve in the 1980′s. CanAlaska entered into an exploration agreement with the community of Black lake in 2006 and received ratification of the agreement from INAC (Indian and Northern Affairs Canada) in
The Company recently received the sample assay results for uranium mineralized samples from four areas of the property, and one area of outwash sandstone boulders, just outside the property boundary, but located immediately downstream of the first drill target. These latter stream boulders are mineralized with stringer pitchblende uranium mineralization, with values up to 1.3% U3O8. There is limited area from where they can be derived, as they are located on the northern limits of the sandstone. They are most likely recently removed from outcropping mineralized sandstone upstream of their current location. Historical sampling by
Drilling has commenced on the first of a series of very strong geophysical targets which the Company has defined from airborne and ground surveys. One historical drill hole (SW of Butch Showing) located approximately 200 metres north of the centre of the first target zone intercepted strongly deformed graphitic metasediments with up to 100 cps radioactivity, before being lost in bad ground conditions. This was the most southerly hole of three holes, and had the most intense alteration recorded.
The assay samples from an outcropping amphibiolite unit just north of the first target area, in the Butch/Patterson Creek area, are shown in Table 1. These samples contain significant uranium values (up to 1.17% U3O8), as well as associated gold (one sample at 48 g/t Au), platinum and palladium mineralization.
The first CanAlaska holes are collared south of this zone, and are testing a very strong conductive zone located at a structural break. The boulder samples collected downstream of this target, but outside the property, are shown in the following Table 2.
Table 1 Mineralized Amphibolite from first drill target area. % Au_ Pt_ Pd_ Sample Target_Area Type Rock Alt. U3O8 g/t g/t g/t Patterson OM408 Creek Outcrop Amphibolite hematite 1.17 0.31 0.06 0.02 Patterson OM409 Creek Outcrop Amphibolite hematite 0.76 48.49 2.96 4.01 Patterson GK001 Creek Outcrop Amphibolite 0.31 Patterson CH098 Creek Outcrop Amphibolite hematite 0.19 0.23 0.05 0.01 Patterson AM088 Creek Outcrop Amphibolite hematite 0.19 Patterson AM089 Creek Outcrop Amphibolite hematite 0.18 Patterson CH099 Creek Outcrop Amphibolite hematite 0.14 Patterson WB054 Creek Outcrop Amphibolite hematite 0.14 Patterson GK003 Creek Outcrop Amphibolite hematite 0.13 Patterson CH191 Creek Outcrop Amphibolite hematite 0.12 Table 2 Rapids Area Samples (downstream but outside property) Sample Location Type Rock Unit Alteration % U3O8 FT094 Rapids Boulder Sandstone Hematite 1.88 JR491 Rapids Boulder Sandstone Smoky Quartz 1.22 OM572 Rapids Boulder Sandstone Smoky Quartz 1.17 FT096 Rapids Boulder Sandstone Hematite 1.00 JR490 Rapids Boulder Sandstone Hematite 0.88 JR493 Rapids Boulder Sandstone Smoky Quartz 0.88 JR495 Rapids Boulder Sandstone Smoky Quartz 0.64 OM573 Rapids Boulder Sandstone Smoky Quartz 0.64 OM578 Rapids Boulder Sandstone Hematite 0.64 FT089 Rapids Boulder Sandstone Hematite 0.49 JR492 Rapids Boulder Sandstone Smoky Quartz 0.47 FT092 Rapids Boulder Sandstone Hematite 0.44 OM574 Rapids Boulder Sandstone Hematite 0.42 OM575 Rapids Boulder Sandstone Hematite 0.42 OM577 Rapids Boulder Sandstone Hematite 0.42 OM576 Rapids Boulder Sandstone Hematite 0.39 JR494 Rapids Boulder Sandstone Smoky Quartz 0.31 FT088 Rapids Boulder Sandstone Smoky Quartz 0.27 JR498 Rapids Boulder Sandstone Hematite 0.22 FT097 Rapids Boulder Sandstone Hematite 0.21 OM571 Rapids Boulder Sandstone Smoky Quartz 0.17 OM580 Rapids Outcrop Amphibolite Hematite 0.19 JR487 Rapids Boulder Iron_Formation 0.16
Mineralized sandstone boulders were also found during prospecting at in the Platt Creek area down-ice of the second major geophysical target. The Platt Creek fault is a major regional fault system, which has previously shown high-grade uranium mineralization in drill holes on the adjacent mineral exploration property (Black Lake Property owned by UEX/AREVA). The mineralized boulder samples were collected from low, swampy ground, and are detailed below in Table 3.
Table 3. Platt Creek Samples: Drill area 2. Sample Location Type Rock Unit Alteration % U3O8 SB044 Platt Creek Boulder Amphibolite Hematite 1.8 TP161 Platt Creek Outcrop Norite Hematite 0.11 RWM593 Platt Creek Boulder Sandstone 0.51
Two other separate areas of uranium mineralization have previously been identified on the project. One of these, the Black Lake NE sample area, is closely-related to mineralization near the historical producing “Nisto” mine (106 tons at 1.38% U3O8). The second area is located on a major structural feature which branches between the
Table 4. Other Areas of Surface Uranium Mineralization Sample Target_Area Type Rock Alteration % U3O8 TP170 Black Lake NE Outcrop Amphibolite Hematite 2.69 WB077 Black Lake NE Outcrop Gneiss_Mafic Yellow Stain 2.16 TP168 Black Lake NE Outcrop Amphibolite Yellow Stain 1.51 TP169 Black Lake NE Boulder Amphibolite Yellow Stain 1.01 WB078 Black Lake NE Outcrop Gneiss_Mafic Yellow Stain 0.75 RCD019 Black Lake NE Outcrop Schist Hematite 0.4 RCD020 Black Lake NE Outcrop Schist Hematite 0.19 OM586 North Middle Lake Boulder Sandstone Smoky Quartz 1.03 JR506 North Middle Lake Outcrop Sandstone 0.4 FT105 North Middle Lake Outcrop Sandstone Hematite 0.39 FT104 North Middle Lake Outcrop Sandstone Hematite 0.32
The Company is very pleased with current operations, and is fully-funded for the summer-fall 2009 exploration programs through its joint venture partnerships and from current treasury. The current drill programs at the West McArthur project, partnered with Mitsubishi Development Pty and the Cree East project, partnered with the Korean Consortium, are operating well and will be continuing through March. Multiple targets are being evaluated on each project. Drill and assay results will be provided as they become available to the Company and its partners.
All of the samples from the
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CANALASKA URANIUM LTD. (CVV — TSX.V, CVVUF — OTCBB, DH7 —
On behalf of the Board of Directors (signed) Peter Dasler, M.Sc., P.Geo. President & CEO, CanAlaska Uranium Ltd.
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release: CUSIP# 13708P 10 2. This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
SOURCE CanAlaska Uranium Ltd.