CanAlaska Uranium Ltd

CanAlaska Uranium's partner Cameco planning electromagnetic surveys at West McArthur

Work to date has been focused around the northeastern part of what's called the C 10 corridor

Canalaska is currently working with Cameco and Denison at two of its properties in the Eastern Athabasca basin

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.

Quick facts: CanAlaska Uranium Ltd

Price: $0.24

Market: TSX-V
Market Cap: $10.94 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Buds & Duds: Cannabis stocks flat but Valens shares on the rise as it...

Buds today are Valens GroWorks Corp (CVE:VGW) (OTCMKTS:VGWCF), The Flowr Corporation (CVE:FLWR) (OTCMKTS:FLWPF).  Duds are CannTrust Holdings Inc (TSE:TRST) (NYSE:CTST), Canopy Growth Corporation (TSE:WEED) (NYSE:CGC). 

10 hours, 1 minute ago

2 min read