Thu Aug 13, 8:00 AM
http://ca.news.finance.yahoo.com/s/13082009/31/link-f-prnewswire-canalaska-updates-current-uranium-exploration.html
VANCOUVER, Aug. 13 /PRNewswire-FirstCall/ - CanAlaska Uranium Ltd. (TSX.V - CVV, OTCBB - CVVUF, Frankfurt - DH7) ("CanAlaska" or the "Company") is pleased to provide an update of its current exploration at its uranium projects in the Athabasca Basin of Saskatchewan, Canada.
At the Cree East Project, an additional $880,000 was recently advanced to fund summer exploration by the Korea Consortium, comprising Hanwha Corporation, Korea Electric Power Corporation, Korea Resources Corporation and SK Energy Co. Ltd. This additional work includes hi-resolution airborne magnetic, airborne VTEM and ground TDEM geophysical surveys. The results from this summer's surveys will be used to prepare winter drilling targets.
At the Fond Du Lac Project, exploration has been further extended based on mineralization recently discovered in basement structures. The Company had been testing known sandstone uranium mineralization, but is now concentrating on encouraging uranium mineralized intersections in structures located below the unconformity. Current drilling is focusing on the eastern end of the deposit, where major structures intersect the trend of the sandstone-hosted mineralization. This new basement-hosted mineralization extends the length of the known deposit by approximately 75 metres.
The Company has now received TSX Venture approval for the terms of its non-brokered private placement (see July 23rd News Release). Proceeds from the private placement will be applied towards ongoing uranium exploration at the Company's projects, including additional drilling at the Fond Du Lac project.
About CanAlaska Uranium Ltd. -- www.canalaska.com
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt) is undertaking uranium exploration in twenty 100%-owned and two optioned uranium projects in Canada's Athabasca Basin. Since September 2004, the Company has aggressively acquired one of the largest land positions in the region, comprising over 2,500,000 acres (10,117 sq. km or 3,906 sq. miles). To-date, CanAlaska has expended over Cdn$50 million exploring its properties and has delineated multiple uranium targets. The Company's geological expertise and high exploration profile has attracted the attention of major international strategic partners. Among others, Mitsubishi Development Pty Ltd, a subsidiary of Japanese conglomerate Mitsubishi Corporation, has undertaken to provide CanAlaska C$10 mil. in exploration funding for its West McArthur Project. Exploration of CanAlaska's Cree East Project is also progressing under a C$19 mil. joint venture with a consortium of Korean companies led by Hanwha Corporation, and comprising Korea Electric Power Corp., Korea Resources Corp. and SK Energy Co, Ltd. A Memorandum of Understanding has also recently been executed with mining partner East Resources Inc. to commence exploration on the Poplar Project comprising a potential 100,000 metres of drill testing. In addition, Kodiak Exploration has also optioned the McTavish Project to advance exploration with the goal of attaining a 60% project interest earn-in by delineating a minimum of 35 million pounds U(3)O8.
On behalf of the Board of Directors
(signed)
Peter Dasler, M.Sc., P.Geo.
Recent CVV News
- CVD Equipment Corporation Reports Fourth Quarter and Fiscal Year 2023 Financial Results • Business Wire • 03/28/2024 08:00:00 PM
- CVD Equipment Corporation to Announce Fourth Quarter and Fiscal Year 2023 Financial Results on March 28, 2024 • Business Wire • 03/21/2024 08:00:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 08:06:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/02/2023 01:26:53 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/17/2023 06:59:03 PM
- CVD Equipment Corporation Announces Participation in 12th Annual NYC Summit • Business Wire • 11/16/2023 02:01:00 PM
- CVD Equipment Corporation Reports Third Quarter 2023 Financial Results • Business Wire • 11/14/2023 09:05:00 PM
- CVD Equipment Corporation to Announce Third Quarter 2023 Financial Results on November 14, 2023 • Business Wire • 11/07/2023 09:03:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/25/2023 07:05:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2023 08:00:47 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/21/2023 08:02:02 PM
- CVD Equipment Corporation Announces Appointment of Dr. Ashraf Lotfi to its Board of Directors • Business Wire • 08/21/2023 08:01:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2023 08:02:02 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 08:01:41 PM
- CVD Equipment Corporation Reports Second Quarter 2023 Financial Results • Business Wire • 08/14/2023 08:01:00 PM
- CVD Equipment Corporation to Announce Second Quarter 2023 Financial Results on August 14, 2023 • Business Wire • 08/07/2023 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2023 05:51:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2023 05:45:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2023 05:40:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2023 05:28:06 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/14/2023 08:05:17 PM
- CVD Equipment Corporation Receives System Order for the Production of High Performance Nanomaterials Used in Electric Vehicle Batteries • Business Wire • 06/26/2023 09:11:00 PM
- CVD Equipment Corporation Announces Sale of its Tantaline Subsidiary • Business Wire • 05/30/2023 08:05:00 PM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM