VANCOUVER, Feb. 8 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV) ("CanAlaska" or the "Company") is pleased to report the commencement of
winter drilling on the Cree East project in the Athabasca Basin. The
drilling is being carried out for the 50/50 Joint Venture between
CanAlaska Uranium Ltd. and the Korean Consortium, comprising Hanwha
Corp., Korea Electric Power Corp. (KEPCO), Korea Resources Corp.
(KORES) and SK Networks Co. Inc.
To view map and photo click here: http://www.canalaska.com/s/News.asp?ReportID=441524
Detailed ground geophysical surveys (Moving Loop Time Domain
Electro-Magnetics) were completed over the property in December 2010 -
January 2011 and crews are now on-site as part of a planned $3.58
million, 7,650 metre, two drill, 18-hole winter drill program.
CanAlaska plans to commence with drilling on targets located at Zone A,
where previous drill-holes have located major fault offsets,
hematization and clay alteration in the sandstone and basement units
local to major breaks and offsets in the conductive airborne target.
Elevated uranium values in the sandstone units indicate uranium
mineralization in the hydrothermal process. Areas of co-incident low
resistivity in the sandstone of these areas have been outlined by
previous geophysical surveys and represent the prime targets for
drill-testing this winter.
A second drill is on-site to test the 3 targets in Zones I, C and D that
are located within shallow lake-covered areas. In each of these areas,
previous drilling has intercepted uranium mineralization and strong
alteration in surrounding rocks and the covering Athabasca sandstone.
The best drill intercept was in drill-hole CRE040 at Zone I, where the
first of two holes into a new target intercepted strongly fractured and
clay-altered core, hematization and geochemically anomalous uranium and
trace base metal mineralization above an upper basement intercept of
1.4 m @ 0.091% U3O8 in a graphitic conductor unit.
At Zone D, previous drill-hole CRE017 intercepted 1.7 m @ 0.012% U3O8 in basement rocks. Overlying this was uranium and boron (±Ni, As)
above the unconformity for up to 30-40 metres with values of up to 10
times background. There are also major basement offsets totaling up to
45 metres within this zone.
In all drill areas on the project, geological and geophysical work has
more closely-identified the targets and ongoing drilling is expected to
concentrate within 100 metres of previous wider-spaced drill
intercepts. A summer 2011 drill program is also anticipated for
land-based targets, which were upgraded by this past summer's drilling
on Zones A, H and G (see News Release - Sept 28th, 2010).
The Qualified Person for this news release is Peter G. Dasler, P. Geo.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX.V, 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 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
SOURCE CanAlaska Uranium Ltd.
For further information:
Emil Fung, Director & V.P. - Corp. Dev. Tel: +1.604.688.3211 x318 Email: firstname.lastname@example.org