More $CVVUF News yesterday & today as it keeps climbing!
De Beers to Drill CanAlaska's Kimberlite Targets
Accesswire August 18, 2016 VANCOUVER, BC / ACCESSWIRE / August 18, 2016 / CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N), ("CanAlaska" or the "Company") is pleased to report that De Beers' exploration team is preparing to start drilling kimberlite targets at the Company's West Athabasca diamond project. De Beers' recently completed detailed airborne surveys over the diamond project area in the western Athabasca confirmed the presence of several near surface magnetic anomalies.
Airborne Surveys Identify Targets up to 10 Hectares
De Beers completed a detailed low level airborne survey over the Athabasca diamond project claims using Fond Du Lac as a base of operations. The survey provided significantly better definition of anomaly outlines and identified the presence of various lobes in the case of complex anomalies.
The majority of the magnetic anomalies coincide with lakes, or are in swamps (see photo). The anomalies or clusters of anomalies are up to 10 hectares (25 acres) in size, comparable to many of Canada's diamond deposits. Some of the anomalies in the centre and south areas of the trend appear to be drillable before winter.
A drill program is scheduled to start at the end of this August and continue into mid-October to test a selection of the accessible land targets. Drilling of the remaining targets that are located under lakes are planned for winter 2017. All drillcore will be shipped to De Beers' facilities for detailed logging, sampling, and mineral processing.
CanAlaska President Peter Dasler commented, "We now have indications from the survey of a large kimberlite field in the western Athabasca. We are particularly excited that De Beers' team will be able to produce the first drill core in September. De Beers' rapid deployment of a drill crew provides CanAlaska shareholders with significant upside value in the short term
View of pond with distinct circular structure that corresponds to magnetic anomaly detected by Government airborne survey and confirmed by De Beers' surveys.
To view an enhanced version of this graphic, please visit: www.accesswire.com/uploads/22172_a1471484379987_92L.jpg
About the West Athabasca Diamond Project
CanAlaska and De Beers are exploring the West Athabasca project for diamonds under a staged $20.4 million Option-Participation Agreement. The project area (see map) covers 75 kimberlite-style targets staked by CanAlaska in the northwestern Athabasca Basin of Saskatchewan. De Beers may earn an interest in the project through a series of escalating exploration programs. For more information about the West Athabasca diamond project visit http://www.canalaska.com/s/AthabascaDiamondProject.asp?ReportID=740492
De Beers Canada Chief Executive Officer Kim Truter commented: "We would like to congratulate our De Beers Exploration team for carrying out the first field program in an efficient and safe manner in this new area over the last two months. We look forward to executing the upcoming drill program with the same responsible approach as our team works through the fall and into the winter season to obtain the next level of information on these very interesting targets."
CanAlaska options West Carswell Diamond Property to Canterra Minerals
Accesswire Aug 17, 2016, 9:14 AMComment West Carswell Located 20 Kilometres Southwest of De Beers – CanAlaska Athabasca Diamond Project
VANCOUVER, CANADA / ACCESSWIRE / August 17, 2016 / CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N), ("CanAlaska" or the "Company") is pleased to report that it has signed a property option agreement with Canterra Minerals Corporation (TSX-V: CTM) ("Canterra") for Canterra to acquire up to a 70% interest in the West Carswell property (the "Property") located in the western Athabasca Basin, Saskatchewan.
The West Carswell property comprises approximately 4,800 hectares within the west Athabasca Kimberlite trend and is located 10 km northwest of the Cluff Lake Uranium Mine in the Athabasca Basin. The Property encompasses six discrete magnetic anomalies derived from a survey flown in 2010 for the Saskatchewan Geological Survey. These six targets exhibit discrete magnetic lows and are characteristic of magnetic features, thought to be kimberlite pipes, intruding into the thick Athabasca sandstone sequence. A high resolution airborne magnetics survey encompassing 1,770 line km has been commissioned for the property by Canterra.
Randy Turner, President and CEO of Canterra stated, "We are excited to be working with CanAlaska. CanAlaska has been innovative in their approach to diamond exploration and identified many new targets within northwestern Saskatchewan, a region we believe has the potential to host a new Canadian kimberlite field."
Peter Dasler, President and CEO of CanAlaska stated, "We are very pleased to be working with Canterra, and to be able to use their considerable expertise in diamonds. This is a very interesting group of magnetic targets close to existing infrastructure."
Pursuant to the agreement, Canterra can acquire a 50% interest in the Property by making staged cash payments totaling $100,000 ($30,000 upon closing), the issuance of 2,000,000 million shares upon closing and work commitments of $1,000,000 by the third anniversary of the closing. Upon completion of the 50% earn-in, Canterra and CanAlaska will form a Joint Venture with each party maintaining a 50% ownership. Canterra will have the option to acquire an additional 20% ownership for additional cash payment of $100,000, an additional issuance of 1,000,000 shares and incurring a further $4,000,000 within the third anniversary of completion of the initial 50% earn-in. The transaction is subject to approval of the TSX.V.
About Canterra
Canterra Minerals is a Canadian resource company specializing in diamond exploration in the Northwest Territories, strategically located between the Snap Lake Diamond Mine and the Gahcho Kué Diamond Project. The Company also maintains a 33% interest in the Buffalo Hills Diamond Project in Alberta. As leaders of exploration in the junior diamond sector for over 25 years, the Canterra team has been involved in the discovery of two of Canada's four diamond mines, the Snap Lake Diamond Mine in the South Slave and the Ekati Diamond Mine in Lac de Gras. Location maps can be found on the Company's website www.canterraminerals.com.
About CanAlaska
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 500,000 hectares (1.2 million acres), one of the largest land positions in Canada's Athabasca Basin region – the "Saudi Arabia of Uranium." CanAlaska's strategic holdings has attracted major international mining companies Cameco, Denison, KORES, KEPCO, and the De Beers Group of Companies. CanAlaska is a project generator and is positioned for discovery success in the world's richest uranium district. For further information visit www.canalaska.com.
The qualified technical person for this news release is Dr Karl Schimann, P. Geo, VP Exploration, for CanAlaska.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo. President & CEO CanAlaska Uranium Ltd.
Contacts:
Peter Dasler President Tel: +1.604.688.3211 x 138 Email: info@canalaska.com
John Gomez
Corporate Development Tel: +1.604.484.7118 Email: jgomez@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
