VANCOUVER, Jan. 22 /CNW/ - The management of CanAlaska Uranium Ltd.
("CanAlaska" or the "Company" CVV- TSX.V) is pleased to report the
commencement of 2008 field operations on its uranium exploration projects at
Cree West and at Key Lake, located in the south east of the Athabasca Basin,
Canada. The projects are under separate options to Westcan Uranium Corp., who
is funding a combined $5.6 mil. in uranium exploration to earn 50% ownership
Key Lake Project
- An operations camp has been established at Km 212 on the Key Lake
road to accommodate the drill crews and geologists for the first
drill program of 2008. Drilling is expected to start during the
- The 2008 winter programme will test a conductor within a magnetic low
in the core of what has been mapped by previous workers as an Archean
dome structure. This conductor is striking NE-SW, a similar direction
as the Key Lake mine structure. Historical records show that five,
short, vertical holes were drilled in this vicinity in the past.
These historical holes were much too short to reach this target
defined from the modern VTEM survey carried out by the Company in
2006. The geophysical modeling of the data from the 2006 VTEM survey
puts the top of this conductor at about 300 m depth with a shallow SE
dip, suggesting a potential thrust structure.
Cree West Project
- The 2008 winter programme will follow-up on, and drill test, an area
of apparent structural complexity. This target area was identified by
the winter 2007 AMT geophysical survey. Additional AMT stations are
planned to close-in the survey grid. This work will commence in early
February. The logistical items have now been completed and the crews
will be based at the Cree Lake Lodge.
- The Company is planning to drill the target area in March following
the resolution of the AMT information. The unconformity depth in this
area is estimated to be 500-600 metres, several hundred metres
shallower than the northern claim block.
The Qualified Person for this news release is Peter Dasler, P.Geo.
About CanAlaska Uranium Ltd. -- www.canalaska.com
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt)
is undertaking uranium exploration on seventeen 100%-owned and two optioned
uranium projects in Canada's Athabasca Basin. 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).
CanAlaska has expended over Cdn$30 million exploring its properties in the
Athabasca Basin and has delineated multiple uranium targets. Initial drilling
results from the West McArthur Project revealed uranium mineralization and
significant zones of hydrothermal alteration, indicative of a favourable
environment for uranium deposition. Active drilling and exploration continued
through the Summer, and Fall 2007 seasons at West McArthur and at 2 other
significant projects. The Company's high profile in the prominent Athabasca
Basin has attracted the attention of major international strategic partners.
Among others, Mitsubishi Development Pty., a subsidiary of Japanese
conglomerate Mitsubishi Corporation, has undertaken to provide CanAlaska C$11
mil. in exploration funding to earn 50% of the West McArthur Project. A C$19
mil. Agreement for exploration has also been executed with a Korean Consortium
led by Hanwha Corporation to enter into joint exploration of CanAlaska's Cree
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: CUSIPNo. 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.
For further information:
For further information: Emil Fung, Vice President, Corp. Dev., Tel:
(604) 688-3211, Toll Free (N. America): 1-800-667-1870 Email: