VANCOUVER, June 5 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV)
("CanAlaska" or the "Company") has re-commenced drilling on the Black Lake
project, located within the Black Lake First Nation Reserve, on the northern
rim of the Athabasca basin, Saskatchewan. The current program is a
continuation of the March winter program, following a shut down for spring
thaw. The drilling will continue on the Platt Creek zone, 4 kilometres south
of the basin rim. In this area the sandstone unconformity targets are
interpreted at 200 metres depth.
Figure 1 - Black Lake Project Location
The drill program at Black Lake is following-up on geological and
geophysical targets identified from airborne and ground surveys carried out by
the Company in 2008. The current drill targets are along the Platt Creek
fault/conductor, which starts in the north, at the limit of the Black Lake
First Nation Reserve, and extends south into claims held by UEX/AREVA.
CanAlaska has been successful with surface prospecting for uranium
mineralization in this area, and there are reported significant uranium
intercepts from drill testing on the adjacent property. (See also News Release
of March 23 2009). The location of the Black Lake project is shown in Figure
1, and the regional geology and structures are shown in Figure 2, along with
the regional magnetic image.
Figure 2 - Black Lake Project Regional Structure & Magnetics
March 2009 Drill Results
Drilling commenced on the northern portion of the Platt Creek fault in
March 2009. This was in the Patterson Creek area, on a lake covered portion of
the main conductive trend. Drilling was curtailed early because of ice
break-up on the lake.
The first drill hole for the winter program, BLK001, went directly into
basement and intersected intensely mylonitic graphitic pelites. The second
drill hole, BLK002, was lost near surface. Drill hole BLK 003 is of interest
because it had a significant hematized zone of mafic tuff near surface, from
53-60 metres depth, with elevated boron (428ppm) and uranium values (11ppm).
These holes and later drill hole BLK006, see below, confirm the potential for
uranium mineralization within the zone.
Additional March drill holes BLK004, and BLK005, located to the west of
the first holes, penetrated the very thin ((less than) 5 metre) sequence of
overlying sandstone units. In these sandstones there was boron enrichment to
143 ppm and, significantly, more boron enrichment and hematized tuff units in
the underlying basement rocks (with up to 733 ppm boron). These two holes were
targeting splay structures off the main conductor drilled in holes BLK001. The
structures are defined as weak VTEM conductors from the airborne survey, and
are located within a major north-south trending magnetic lineament. Drill hole
BLK005 intersected an 8 metre section of 12 ppm U(3)O8 in the upper basement
rocks. All of the sandstone intercepts were characterized by intense hematite
alteration, which then extended up to 60 metres into the basement rocks.
Drill hole BLK006, drilled back on the main Platt Creek fault zone, south
of BLK001, had multiple zones of intense fracturing as well as strong
hematization in an amphibolitic gneiss unit.
Drill holes BLK001 to BLK006 are all located up ice of the "Rapids"
boulder train, which has uranium-arsenic mineralized boulders with assays of
up to 1.9% U(3)O(8). The Company is very pleased with these first exploration
holes in this area of the northern portion of the conductor, and anticipates a
series of new holes across this concentrated target area, when conditions
permit. The strong boron alteration and trace uranium mineralization, along
with the intense hematization indicate hydrothermal mineralizing events
associated with the geophysical targets.
June 2009 Drill Program
The second half of the program, targeting the land based conductive
anomalies on the Platt Creek fault zone has now commenced. This main target is
approximately 4 km south of the Patterson Creek drill holes.
In this area, mineralized sandstone boulders were found during
prospecting at Platt Creek, down-ice of the major geophysical target. The
Platt Creek fault is a major regional fault system, which has previously shown
high-grade uranium mineralization in drill holes on the adjacent mineral
exploration property (Black Lake Property owned by UEX/AREVA). The mineralized
boulder samples from summer 2008 work were collected from low swampy ground
and are detailed below in Table 1.
Table 1. Platt Creek Samples: June 2009 Drill area
Sample Location Type Rock Unit Alteration % U(3)O(8)
SB044 Platt Creek Boulder Amphibolite Hematite 1.8
TP161 Platt Creek Outcrop Norite Hematite 0.11
RWM593 Platt Creek Boulder Sandstone 0.51
The Company expects the current drill program to extend until the end of
June. The Company is fully-funded for current operations, but is budgeting for
further extensive summer-fall 2009 exploration programs, through its joint
venture partnerships, and from current treasury. Drill and assay results from
the Black Lake and other active projects will be provided as they become
available to the Company.
All of the prospecting and drill samples from the Black Lake project were
submitted to Acme Laboratories Vancouver, an ISO 9001:2000 accredited and
qualified Canadian Laboratory, for their Group 4B analysis. These samples were
analysed for uranium and multi-element geochemistry by tri-acid digestion and
ICP-MS. The samples were collected by CanAlaska field geologists under the
supervision of Dr. Karl Schimann, and were shipped in secure containment to
the laboratories noted above. Peter Dasler, M.Sc., P Geo. is the qualified
technical person responsible for this news release.
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$50 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
Ltd, a subsidiary of Japanese conglomerate Mitsubishi Corporation, has
undertaken to provide CanAlaska C$10 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 testing.
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, Director & V.P. - Corp. Dev., Tel:
(604) 688-3211, Email: firstname.lastname@example.org