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CanAlaska Uranium advances growth with work programs

The firm has option deals with Cameco, De Beers, Denison Mines, Fjordland Exploration and Canterra Minerals for work programmes worth $38.7mln

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CanAlaska is hunting for uranium as well as other mineralisation

CanAlaska Uranium Ltd (CVE:CVV, OTCQB:CVVUF) today updated on its work programmes in the Athabaska basin of Canada, dubbed the "Saudi Arabia of uranium".

The firm has option deals with Cameco, De Beers, Denison Mines, Fjordland Exploration and Canterra Minerals for work programmes worth $38.7 mln, involved with diamonds, uranium and copper-zinc.

At the West McArthur uranium site, Cameco has completed 3,342 metres of drilling at three sites and the next  program is being reviewed and will be finalised and detailed by the end of November.

At the Alberta diamond project, the firm is evaluating a series of 50 magnetic anomalies detected from the recent 4,000km airborne survey.

At the West Athabasca diamond project, 85 targets have been identified from low level high resolution airborne geophysical surveys. Seven of these targets have been tested, but have not intersected kimberlite

At the North Ruttan copper zinc project, the firm is in receipt of a Manitoba Government grant (MEAP) for a winter program of drill testing of the target as well as the work permit to complete the drilling.

The first drill hole by Denison Mines was completed in early 2016, where the core showed weak uranium mineralisation at the unconformity with potential for further mineralization on section and along strike.

Quick facts: CanAlaska Uranium Ltd

Price: 0.485 CAD

TSX-V:CVV
Market: TSX-V
Market Cap: $33.85 m
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