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CanAlaska Uranium Ltd

Canalaska Uranium's partner Cameco hits more uranium at West McArthur

The drilling is aimed at getting to understand the geology at the 5km long Grid 5 target

Uranium
Uranium

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.

Quick facts: CanAlaska Uranium Ltd

Price: $0.24

Market: TSX-V
Market Cap: $10.91 m
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