Toronto Stock Exchange (TSX): CVV
VANCOUVER, June 7, 2012 /CNW/ - CanAlaska Uranium Ltd. (TSX - CVV) ("CanAlaska" or the "Company") is pleased to announce the acquisition by
staking of two blocks of claims, totalling 11,563 ha adjacent to and
northeast of the past-producing Ruttan copper mine, located near Leaf
Rapids in Northern Manitoba.
See http://www.canalaska.com/s/News.asp?ReportID=529404 for a map of the Ruttan Project.
The 82.8 million tonne Ruttan copper-zinc VMS deposit was discovered in
1969. It is classified as one of the larger VMS deposits in the
world. It was mined to supply concentrate to the Flin Flon smelter,
with 55.7 million tonnes extracted between 1975 and 2002. CanAlaska
staff have compiled regional geophysical data, and identified
prospective exploration targets within the immediate vicinity of this
very large VMS deposit. These geophysical targets are supported by the
information from the previous (limited) exploration programs carried
out in the surrounding district. Historical drill information and
detail in historical assessment reports is available to confirm the
very favourable location of the targets staked by the company.
Additional confirmation of the target areas has been obtained through
detailed review of the geology and geochemical signatures reported in
the historical records and assessment reports by consulting geologist
Dr George Gale.
The new claims staked by the company are located adjacent to main roads
and access. The western block adjoins the mine claims, 3km to the
north of the open pit workings (see Figure 1). In this area, previous
drilling had intersected gold as well as base metal mineralization,
with three en-echelon disseminated sulphide zones in an intrusion
breccia, associated with the Vol fault. It appears that previous drill
spacing may have been too wide to allow correlation of the mineralized
intersections between drill holes.
The eastern claim block is centred on a large magnetic and associated
electro-magnetic anomaly (3 km long), which was tested in its western
portion by six exploration drill holes. These historical drill holes
show what appears to be a rhyolite complex within a bimodal volcanic
succession. Chalcopyrite was observed in the sulphide rich
intercepts. The geophysical compilation and modeling by the Company of
the later deep penetrating airborne survey data indicates that the
previous drill positions are outside the newly identified target area.
CanAlaska is planning to carry out the first reconnaissance of the new
claims areas in August 2012, as part of a diversification of
exploration interests. This work will be in addition to the Company's
continued long term development of its uranium exploration portfolio.
Further projects have been evaluated over the past months, and
additional focus areas are expected to be generated by the company's
Dr. Karl Schimann, CanAlaska's VP - Exploration commented: "The Leaf
Rapids volcano-sedimentary belt is underexplored, and has significant
potential for new discoveries, especially given the size of the
previous operating mine. Early geophysical work in the area was often
limited by technology, however the later exploration work in the
closing years of the mine is of high quality, but had limited
follow-up. CanAlaska's reprocessing of the geophysical data using our
in-house staff has given us flexibility to model multiple scenarios,
and come up with some outstanding targets in this prolifically
Peter Dasler, M.Sc., P Geo. is the qualified technical person
responsible for this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX, CVVUF -- OTCBB, DH7F -- Frankfurt) is undertaking uranium exploration in twenty one uranium projects in
Canada's Athabasca Basin -- the "Saudi Arabia of Uranium". Since
September 2004, the Company has aggressively acquired one of the
largest land positions in the region, comprising over 2,500,000 acres
(10,117 sq. km or 3,906 sq. miles). To-date, CanAlaska has expended
over Cdn$75 million exploring its properties and has delineated
multiple uranium targets.
For more information, visit www.canalaska.com
On behalf of the Board of Directors
Peter Dasler, M.Sc., P.Geo., President & CEO,
CanAlaska Uranium Ltd.
The TSX 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
SOURCE CanAlaska Uranium Ltd.
For further information:
Emil Fung, Director & V.P. - Corp. Dev.
Tel: +1.604.688.3211 x318