VANCOUVER, Jan. 23 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV)
("CanAlaska" or the "Company") is pleased to announce that Winter 2009
exploration has commenced on its Cree East, West McArthur, Fond Du Lac and
Black Lake projects. Exploration crews have initiated mobilization of supplies
and equipment with the expectation that drilling will commence by January
To view map, please visit
Cree East Project
A Cdn$2.1 million, 2-drill, 14-hole program comprising a total of 7,000
metres of drilling will investigate two distinct alteration zones on the
property. The current program seeks to follow-up on anomalous results obtained
from previous drilling in Winter and Summer 2008, as well as waterborne
seismic, IP-resistivity and other geophysical surveys performed in Summer 2008
Previously, the Company announced a successful Winter drilling program
conducted in March and April 2008 which identified intense alteration zones in
the cores of all drill holes - CRE-001 and CRE 002 at site A and CRE-003 to
CRE-007 at site C. These two zones show strong hydrothermal mineralizing
systems coincident with airborne and ground geophysical anomalies. Intense
fracturing in the rock and clay alteration forced the drillers to abandon five
of the seven winter drill holes before reaching the basement. These
lake-covered targets will be re-addressed in the current drill program, and
drilling is expected to successfully test the lower sandstone intervals and
basement rocks in this immediate area.
The subsequent Summer 2008, 2,500 metre drill program targeted land-based
zones of strong geophysical response. This program intercepted additional
zones of clay alteration and anomalous uranium mineralization, and additional
drilling will test these zones during this winter.
The Cree East Project is being funded by a Korean Consortium comprising
Hanwha Corp., Korea Electric Power Corp., Korea Resources Corp. and SK Energy
West McArthur Project
A Cdn$1.9 million, 5-hole exploration program, comprising a total of
4,600 metres of drilling together with correspondent TDEM geophysical surveys,
will test a previously-undrilled zone located in the southern region of the
project. In this new area, airborne surveys, ground-based AMT, magnetic and EM
surveys have identified a new, well-defined, but variably-conductive zone
approximately 4 km in length, associated with apparent alteration in the
sandstone column. This winter's drilling will test multiple zones along the 4
Exploration at the West McArthur Project is being funded by Mitsubishi
Development Pty Ltd.
Fond Du Lac Project
A Cdn$500,000 exploration program comprising 2,000 metres of drilling and
geophysics will further test multiple gravity and chargeability targets
identified in the vicinity of the historic Fond Du Lac uranium deposit.
In 2008, the Company carried out reconnaissance work and the first drill
sampling of the deposit since the late 1970's. The first drill holes through
the eastern end of the mineralized zone intercepted significant intervals of
mineralized sandstone above the unconformity. Below the unconformity, the
drillholes intercepted hematitic alteration zones with similarities to typical
feeder zones for classical unconformity style deposits. The initial results
were released on Sept 15, 2008 (see news release
http://www.canalaska.com/s/News.asp?ReportID=318970), but assumed zero values
for several non-assayed intervals, the following are minimum values returned
for the drillhole intervals (true width is not known at this stage):
From To Length Percent pounds/short ton
Hole Number (Metres) (metres) (metres) U(3)O(8) U(3)O(8)
FCL 002 16.80 47.36 25.21 0.077% 1.54 lb/ton
FCL 003 18.10 44.93 26.83 0.123% 2.46 lb/ton
Exploration at the Fond Du Lac Reserve is funded by the Company such that
CanAlaska may earn a 49% participation in the project from the Fond Du Lac
Denesuline First Nation by expending Cdn$2 million.
Black Lake Project
In the Black Lake area, there is known potential for "unconformity-style"
uranium mineralization. One historical uranium vein deposit, located just
outside the edge of the Athabasca unconformity on the Snowbird Tectonic Zone,
was mined in the past (Nisto Mine, 1952). Recent exploration in the area has
focused on unconformity style uranium discoveries along the Platt Creek Shear
Zone, which parallels the regional Snowbird Tectonic Zone. The western area of
the Black Lake Indian Reserve lands covers approximately 5km of the Platt
Creek Shear Zone.
The Reserve also straddles the edge of the Athabasca Basin for over 20 km
from East to West, providing a series of prospective environments from
near-surface up to approximately 200 metres of sandstone depth.
In 2008, CanAlaska crews prospected and sampled the western portion of
the Reserve lands. Grid sampling of sandstone boulders and soils along the
Platt Creek Fault show several areas with anomalous geochemistry and clay
mineralogy, as well as mineralized sandstone boulders with up to 1.8%
U(3)O(8). The basement section of the Platt Creek Fault, north of the Fond du
Lac River contains a showing of vein type mineralization with up to 1.2 %
U(3)O(8) and 48 g/t Au. A boulder train 5 km down-ice from the intersection of
the Platt Creek Fault and the Fond Du Lac River contains altered basal
sandstone and basement boulder with values in the 0.5 to 1.9 % U(3)O(8).
Samples of sandstone boulders and outcrops collected at the Dee showing,
located on offshoot of the Snowbird Tectonic Zone in the eastern part of the
Reserve, range from 0.3 to 1 % U(3)O(8). All four groups of mineralized rocks
show the typical U-As-Ni (Co) association of unconformity deposits. All
samples from this program were collected by authorized personnel under the
supervision of Dr Karl Schimann, CanAlaska's VP Exploration, and securely
transported to and analyzed at Acme Laboratories, Vancouver, a certified
analytical laboratory in Canada.
At the start of this winter, crews from the Black Lake community, under
contract to CanAlaska, completed 30 km of surface grid, in preparation for
ground geophysical surveys. These results of these surveys will form the basis
for drill testing, potentially before the end of March 2009.
Exploration at the Black Lake Reserve is funded by the Company such that
CanAlaska may earn a 49% participation in the project from the Black Lake
Denesuline First Nation by expending Cdn$2 million.
Despite the volatile economic climate, CanAlaska and its partners remain
committed in undertaking aggressive uranium exploration with the long-term
objective of achieving the discovery of one or more major unconformity-style
uranium deposits. The Company maintains a strong treasury to accomplish its
exploration objectives through 2009 and is well-positioned for exploration
About CanAlaska Uranium Ltd. - www.canalaska.com
CANALASKA URANIUM LTD. (CVV - TSX.V, CVVUF - OTCBB, DH7 - Frankfurt) is
undertaking uranium exploration in twenty 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). To-date,
CanAlaska has expended over Cdn$45 million exploring its properties and has
delineated multiple uranium targets. The Company's geological expertise and
high exploration profile 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 for its West McArthur Project.
Exploration of CanAlaska's Cree East Project is also progressing under a C$19
mil. joint venture with a consortium of Korean companies led by Hanwha
Corporation, and comprising Korea Electric Power Corp., Korea Resources Corp.
and SK Energy Co, Ltd. A Memorandum of Understanding has also recently been
executed with mining partner East Resources Inc. to commence exploration on
the NE Wollaston Project comprising a potential 100,000 metres of drill
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 No. 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, Email: email@example.com