Toronto Stock Exchange (TSX): CVV
VANCOUVER, Nov. 30, 2011 /CNW/ - CanAlaska Uranium Ltd. (TSX: CVV) ("CanAlaska" or the "Company") is pleased to report the approval by the
joint venture partners of the Cree East uranium project of a $3,121,799
Winter 2012 exploration program, comprising ground geophysics and 7,650
metres of diamond drilling.
The Cree East Project, located in the Athabasca Basin, Saskatchewan, is
owned 50/50 under a joint venture between CanAlaska and the Korean
Consortium. Members of the Korean Consortium include Hanwha
Corporation, Korea Electric Power Corp. (KEPCO), Korea Resources Corp.
(KORES) and SK Networks Corp. CanAlaska acts as the operator for the
Cree East project.
To view maps click here: http://www.canalaska.com/s/News.asp?ReportID=493727
Drilling will commence in January, 2012 and will focus on a 5 kilometre
long basement conductor, in the centre of Grid 7. The conductor
parallels a strong magnetic feature which shows multiple discrete zones
of alteration and uranium enrichment. Previous drilling by CanAlaska
on behalf of the joint venture demonstrated that these zones are
associated with fault-related basement uplifts of up to 60 metres. The
drill cores exhibit sandstone clay alteration and basement
hematization, with associated base and precious metal enrichment at
Zones, A, C, D and I. These alteration features and metal enrichment
are typically found in the vicinity of uranium deposits in the
Athabasca Basin region.
Geophysical ground resistivity surveys will commence in December, 2011
and will target the eastern and north-eastern portions of Grid 7, where
previous exploration had identified strong conductive targets at
depth. These resistivity surveys will seek to identify further zones
of low resistivity, which allows target vectoring towards clay-altered
zones above potential uranium unconformity targets. Should the
geophysical results from these targeted zones prove anomalous, these
targets may be the subject of further drill-testing under the Winter
2012 exploration program.
The Cree East project covers a large (55,935 Ha) portion of the eastern
Athabasca Basin. The eastern portion of the Athabasca Basin hosts the
majority of the known uranium deposits in the area. In 2007, CanAlaska
was able to use the first images from a modern airborne (VTEM)
geophysical survey to identify the many conductive basement targets
hidden under the Athabasca sandstone cover. The Grid 7 area, located
in the centre of the property, covers one of the largest and strongest
conductive zones. A series of targets, which exist along the 5km-long
conductor, at basement depths of between 240 to 440 metres below the
surface, have been progressively tested by earlier drill programs. The
Winter 2012 drill program will concentrate on infill and step-out holes
adjacent to the drill holes which have previously exhibited uranium
anomalies and alteration features, with the objective being to
intersect the main mineralized structures.
CanAlaska is very pleased to be supported by its major international
partners. The Company is presently preparing for over Cdn$7Mil. of
exploration comprising drill programs on three projects in the
Athabasca Basin this coming winter. Additional work is also being
planned for the NW Manitoba project, where the Company's earlier
surveys located base and precious metals zones, and highlighted a
strong association of rare earth minerals with many of the surface
outcropping uranium zones.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX, CVVUF -- OTCBB, DH7N -- 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$80 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