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CanAlaska Uranium Ltd

CanAlaska Uranium diversifies and acquires two prospective nickel sulphide projects in Thompson belt

The two licenses cover an area of 63 square miles and are prospective for sulphide nickel,

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"Nickel sulphide deposits provide superior metallurgy and reduced extraction costs compared to laterite nickel," said CanAlaska president Peter Dasler.

CanAlaska Uranium Ltd (CVE:CVV) is diversifying into base and precious metals - acquiring two nickel projects in the Thompson belt - one of Canada's most prolific nickel camps.

The two licenses cover 63 square miles,  are prospective for sulphide nickel, and surround the 5.3mln tonnes "Mel" nickel deposit.

They lie 25km northwest of Vale's nickel smelter and mining operations.

Historical drill nickel intercepts in the stratigraphy to the east of the "Hunter" licence include intercepts of 2.43% nickel over 1.92 metres and 1.95% Ni over 0.46 metres.

"Nickel sulphide deposits provide superior metallurgy and reduced extraction costs compared to laterite nickel," said CanAlaska president Peter Dasler.

"There is a predicted demand for sulphide nickel for industrial uses and new demand for various types of new electric battery manufacturing."

He said there was ample evidence to expect further discoveries in the Thompson Belt.

"The recent uranium industry slowdown has prompted our diversification into project generation in base and precious metals.

"The expiry of long term claim licences provided the opportunity to follow-up on research completed and projects identified by our technical team."

In the town of Thompson, mining major Vale operates the Birchtree and Thompson mines.

Mines in the Thompson area have produced over 4 billion pounds (1.8 billion kilograms) of nickel over the past 50 years, noted Canalaska.

In other news, Canalaska said it was waiting for final drill information and assay data from the 2017 summer uranium exploration by Cameco on the West McArthur property.

Shares in CanAlaska Uranium stand at C$0.36.

Quick facts: CanAlaska Uranium Ltd

Price: $0.22

Market: TSX-V
Market Cap: $9.98 m
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