Proactiveinvestors USA & Canada CanAlaska Uranium Ltd Proactiveinvestors USA & Canada CanAlaska Uranium Ltd RSS feed en Thu, 23 May 2019 11:42:27 -0400 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[Media files - CanAlaska Uranium is debt free, fully funded and ready to move projects forward ]]> Tue, 30 Oct 2018 16:26:00 -0400 <![CDATA[News - CanAlaska Uranium Ltd set for C$638,000 raise ]]> CanAlaska Uranium Ltd (CVE:CVV, OTCQB: CVVUF) told investors it plans to raise up to C$638,000 via a placing to fund uranium, nickel and, or, other exploration in Saskatchewan, Manitoba and Alberta.

Net proceeds will also be used for acquisitions and, or general corporate purposes, the resource company said.

It will issue up to 1.2mln flow-through units at 39 cents per flow-through unit and up to 500,000 units at 34 cents per unit.

Each flow-through unit consists of one flow-through share and one-half a share purchase warrant, while each unit comprises one share and one-half share purchase warrant.

Each whole warrant consists of part of the flow-through units and units will entitle the holder to acquire one share at C$0.51 per share for two years with various conditions.

The company may then accelerate the expiry date of the warrants to a new date, which is ten days following the date on which the company issues notice to all the warrant holders of the new expiry date.

Canalaska holds interests in around 102,870 hectares (254,000 acres), in Canada's Athabasca Basin region, which has been dubbed the "Saudi Arabia of Uranium."

The company also holds properties prospective for nickel, copper, gold and diamonds.

On Friday last week, Canalaska updated on partner Cameco's summer work plans at the 36,000 hectare West McArthur uranium project, which includes borehole EM (electromagnetics) surveys.

Cameco has a three-year programme at the 5km long Grid 5 target area.

Work so far has been focused around the northeastern part of what's called the C 10 corridor, where several ground-defined conductive responses of varying strength were identified.

The EM survey is aimed at explaining, locating the conductor and better interpret the location of the fault.

Tue, 29 May 2018 08:50:00 -0400
<![CDATA[News - CanAlaska Uranium's partner Cameco planning electromagnetic surveys at West McArthur ]]> CanAlaska Uranium Ltd (CVE:CVV) updated on partner Cameco's summer work plans at the 36,000 hectare West McArthur uranium project, which includes borehole EM (electromagnetics) surveys.

Cameco has a three-year program at the 5km long Grid 5 target area.

Work to date has been focused around the northeastern part of what's called the C 10 corridor, where several ground-defined conductive responses of varying strength were identified.

The EM survey is aimed at explaining, locating the conductor and better interpret the location of the fault.

"We have a series of uranium targets at Grid 5. The geological complexity, depth to target, and geophysical data resolution make the area challenging to explore," said Peter Dasler, the president of Canalaska.

"However, the Cameco team has a new geological interpretation and we believe that they are closing in on the most promising targets.

"The structural complexity along the C10 fault system is encouraging for structural uranium traps and the widespread geochemical anomalism emphasizes the movement of fluid in the sandstone column, and the potential for a significant uranium deposit in this area."

Canalaska holds interests in around 152,000 hectares (375,000 acres), in Canada's Athabasca basin.

Shares in Canalaska on Friday are up 1.45% to C$0.35.

Fri, 25 May 2018 10:26:00 -0400
<![CDATA[Media files - 'It's time for CanAlaska to shine and shareholders to make money' - President Dasler ]]> Fri, 04 May 2018 15:16:00 -0400 <![CDATA[News - Canalaska Uranium's partner Cameco hits more uranium at West McArthur ]]> Canalaska Uranium Ltd (CVE:CVV) posted results from Cameco drilling at the West McArthur project in the Athabasca basin, which included 2.8 metres of 0.1% uranium.

The work is concentrating on developing an overall understanding of the geology and alteration at the 5km long Grid 5 target.

"We are starting to understand the geology, but more detail is needed to trace uranium mineralised zones in drill holes WMA042 and WMA042-2," said president Peter Dasler.

"The fifteen holes drilled to date have revealed multiple zones of alteration, locally intense, in the sandstone and the trace of at least three graphitic conductors in the basement rocks.

"These are associated with the strongest parts of the three kilometre long northern ZTEM electromagnetic anomaly.

"We are very encouraged by the extent of the mineralised area and believe that there is significant room for us to find a large mineral deposit in this area."

Of the seven drill holes completed this winter, six had significant faulting and alteration, while one was mineralised, said the group.

Canalaska shares eased 2.63% in Toronto to C$0.37.

Thu, 19 Apr 2018 11:42:00 -0400
<![CDATA[Media files - CanAlaska Uranium boss sees "huge opportunity" for speculators in current market ]]> Thu, 02 Mar 2017 11:31:00 -0500 <![CDATA[Media files - CanAlaska: always looking for opportunities after De Beers kimberlite deal ]]> Wed, 18 May 2016 15:55:00 -0400 <![CDATA[News - CanAlaska says drilling to start at Patterson West ]]> CanAlaska Uranium (CVE:CVV, OTCMKTS:CVVUF), an exploration stage company, said it has been informed by Makena Resources that drilling crews are on site, and drilling is about to commence at the Patterson West project.

CanAlaska also announced that the current financing initiative announced October 28 has been postponed, pending further corporate developments and market support.

Drilling will test an intense 1.5 kilometers by 0.5 kilometers gravity anomaly situated along a major geological domain boundary, the Vancouver, British Columbia-based company said in a statement on Friday.

Patterson West is located adjacent to the PLS claims of Fission Uranium, and 10 kilometers northwest of their Triple R deposit.

CanAlaska owns a 100% interest in three properties in the southwest region of the Athabasca Basin.

Shares rose 5% to $0.105 at 12:14 p.m. in Toronto. The stock is down 30% this year.

Fri, 27 Nov 2015 12:48:00 -0500
<![CDATA[News - CanAlaska’s uranium exploration efforts bear no correlation to bombed out share price ]]> CanAlaska (TSE:CVV, OTCBB:CVVUF), is a Canadian explorer that controls one of one of the largest uranium exploration portfolios in the Athabasca Basin of Saskatchewan. The properties cover 10,117 square kilometres and are strategically located next to high grade mines, historic production, and areas where new uranium resources are being defined.

The Company commenced its exploration effort in the Athabasca Basin in 2004, and has already expended over $75 million on 21 exploration projects defining over 100 drillable targets for evaluation.

The Athabasca Basin hosts the richest uranium mines in the world that supply approximately 20% of the world’s uranium supply, with the richest grades found at Cigar Lake with 20.67% U3O8, and McArthur River with 20.55% U3O8, and carries a value of $20,000 to $30,000 per tonne of ore. This creates a highly profitable business that can process approximately 200 tonnes per day of ore, and operate profitably in any kind of uranium pricing environment.

CanAlaska believes that there are more extremely rich uranium resources to be uncovered and has deployed one of the largest exploration teams in the Basin. This effort is led by Dr. Karl Schimann, who is a veteran geologist and was a senior member of the team that discovered Cigar Lake in 1981.   

Most investors do not appreciate the fact that these types of extremely rich resources are contained within a relatively small volume, and in the case of McArthur River works out roughly at several hundred thousand tonnes of rock, which on a district wide basis is like trying to find a needle in a haystack. A quick calculation reveals that a 1 square kilometre target, with a shallow depth target down to 400 metres, carries approximately 1 billion tonnes of rock that is roughly 3,000 times bigger than the target sought.

Applying these calculations to the massive size of the project areas that CanAlaska is evaluating may help to explain why the exploration effort is measured in years. These efforts deploy modern airborne surveying technology that can sense the alteration “plume” or “halo” that surrounds a major uranium deposit and pick up signals from uranium enriched graphite that surround the unconformity style uranium deposits found in the Athabasca Basin.

This exploration approach has already attracted Joint Venture funding of $42 million on 5 of the 21 exploration projects currently under evaluation, with commitments to continue the current pace of exploration.

The partnerships include Mitsubishi Corporation, who invested $13.9 million in the 50/50 venture at the West MacArthur Project, and the Korean Uranium Consortium who provided $19 million in the 50/50 venture at the East Cree Project.

Other partners include Westcan Uranium (CVE:WCU) who provided $2.4 million out of $8.5 million to evaluate Grease River, Key Lake, and Cree West Projects.

Prodigy Gold (CVE:PDG) has funded $0.7 million of $4 million for an option on the McTavish Project. Mega Uranium (TSE:MGA) has funded $2.3 million of $8 million for an option at the Poplar Project. Yellowcake Plc has funded $1.8 million out of $5 million for an option at the Grease River Project; and Northwestern Minerals funded $1.3 million out of $2.0 million for an option on the Waterbury Project.

First Nations have also allowed exploration on Reserve Lands at Fond du Lac and Black Lake, where a new uranium discovery has been made that is adjacent to a historic resource of 1 million pounds of uranium.

The West McArthur Project lies to the west of the extremely rich McArthur River Mine and covers multiple targets that include a target zone that extends in a dog leg over a strike length of approximately 8,000 metres containing numerous hydrothermally altered zones.

In 2010 the partners completed their first drilling program of 6,071 metres that was aimed at better defining uranium targets cloaked in clay alteration halos that are from 500 to 1,000 metres wide. These targets will each require approximately 10 to 20 drill holes in future drilling programs to reach the core of the underlying uranium mineralization that lies at the base of the halo.

The Cree East Project contains at least 10 targets at Zones A, C, D, E, F, G, H, I, J, and K that are contained within an area that measures approximately 8,000 by 6,000 metres. During 2010 and 2011 the partners drilled 16,324 metres on Zones A, I, C, and D, covering a strike length of 4,000 metres that is also closing in on the underlying uranium mineralization.

Zones A and I are connected, with drilling on Zone A identifying a strong geochemical and clay alteration halo that reaches to 250 metres above the unconformity, and drill-hole CRE037 at Zone I intersecting intense physical alteration that is expected near a significant uranium deposit. 

Drilling at Cree East has defined increased levels of uranium mineralization below bedrock that is contained within sections of intermittent hematization that are outlined over a very large horizontal layer of unconformity. This layer carries multiple zones of over 100 metres of vertical unconformity offsets, and is a similar target model to rich uranium deposits in the Athabasca. 

Drilling is scheduled to re-start in the winter of 2012. 

The Fond du Lac Project is located around the remote fly-in community of Fond du Lac, which is situated on the east side of Lake Athabasca. The Company has already confirmed multiple uranium targets that lie close to the surface, and has drilled down to basement rock at several locations where it has found new mineralized structures.
The Grease River Project is evaluating extensive uranium mineralization that occurs in pegmatitic granite sills that are found over a 3,000 metre strike line and width of 300 metres.

The Collins Bay Project is located north and east of the Rabbit Lake Mine that hosts U3O8 grading 0.88% over a strike of 12 kilometres, and operates the second largest uranium mill facilities in the western world. CanAlaska drilled on targets in 2010, and intersected a major diatreme-breccia pipe containing alteration and uranium.

The Carswell Project is located in the western part of the Athabasca Basin, where a ZTEM survey confirmed basement conductors, and abuts historic uranium mines at Claude, Cluff Lake, Dominique, Peter and Op. Carswell is directly north of discoveries by Areva (BSE:A9RB), and UEX (TSE:UEX) at Shea Creek that contain resources of 88 million tonnes at grades of 1.041 – 1.540% U3O8 at Collette, 5B, Kianna and Anne, and constitute the largest undeveloped uranium resource in the Basin.  

Hodgson, which is 27 kilometres to the north of the McArthur River Mine, and 21 kilometres west of Cigar Lake, contains a conductive trend of 35 kilometres. Hodgson was tested with a ZTEM survey, geochemistry and ground geophysics that identified 5 areas with significant basement conductors.

CanAlaska’s land position in the Athabasca exceeds the combined holdings of uranium majors Areva, and Cameco (TSE:CCO), but carries a miniscule market capitalization of $9.5 million. UEX is capitalized at $117.7 million, has already had success at Shea Creek, and may be more indicative of the potential within CanAlaska’s exploration efforts.

Tue, 11 Oct 2011 08:19:00 -0400
<![CDATA[News - CanAlaska starts drilling Bayswater’s Collins Bay Extension Project, east of Cameco mine ]]> CanAlaska Uranium (TSX-V: CVV) has commenced drilling at Bayswater Uranium’s (TSX-V:BYU, OTC:BYSWF) Collins Bay Extension Project, which is located only 8 kilometres east of Cameco’s (TSX:CCO) Collins Bay-Eagle Point uranium mine.

CanAlaska Uranium, operator of the Collins Bay Extension Project, plans to drill at least five holes into shallow targets at Fife Island, which have been previously identified through geochemical sampling, airborne VTEM and magnetic surveys and some drilling by Bayswater Uranium.  Drilling will also focus on a new target south-west of Blue Island, which was first identified by Bayswater in 2007.

CanAlaska can earn up to 51% in the Collins Bay Extension Project by expending CDN$4 million over 5 years and will also issue 500,000 shares to Bayswater. CanAlaska can up its interest in the project to 70% by completed a further CDN$2 million in exploration over an additional three years.

George Leary, president of Bayswater stated, "We are excited about the drill follow up of an historical drill intercept after re-evaluation by CanAlaska's knowledgeable technical team. The second new drill target, defined by state-of-art VTEM and gravity surveys which indicate a conductor in coincidence with an alteration system and favourable structure, has the size, geological and geophysical character and proximity to known uranium deposits that are highly favourable indications of a significant target. We look forward to the results of drilling on both of these targets."

CanAlaska is currently drill-testing the ‘Vic Zone’ on the northern end of Fife Island.

Mon, 01 Mar 2010 14:02:00 -0500