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CanAlaska Uranium Ltd. (TSXV:CVV) – Notable News

August 5, 2022

CanAlaska Uranium Ltd. (TSXV:CVV, BUY (S), David A. Talbot) announced assays from the winter 2022 drill program at its 51%-owned Manibridge Ni project in the Thompson Ni Belt, Manitoba. Together with Metal Energy Corp. (TSXV:MERG, Not Rated), the company initially announced the drill program in early May (read more). CanAlaska intersected high-grade nickel-sulphide mineralization in all six holes over a one-kilometer strike length within the shadow of the past-producing Manibridge mine, which has historically produced 1.3Mt at 2.55% Ni and 0.27% Cu from 1971 to 1977. Notably, the sulphide mineralization which contains nickel, copper, and cobalt is characterized by disseminated, massive, and net-textured sulphides associated with intense serpentization alteration of the ultramafic host rocks. Highlight results include: 1) 0.92% NiEq over 32.95m, including 1.24% NiEq over 11.45m (MNB004), 2) 0.81% NiEq over 13.5m (MNB003), and 3) 1.13% NiEq over 9.0m, including 1.62% NiEq over 5.0m (MNB006). Recent drilling has both extended mineralization along strike and at depth, while being largely within 200m of surface. Hole -006 also successfully defined the continuation of mineralization beneath the old mine workings indicating that the controls within the system are continuous to a depth of atleast 700m. These results also highlight the discovery potential within CanAlaska’s Resting and Halfway projects, both of which are in proximity to Manibridge. Moreover, the company announced it is advancing a new uranium discovery on its West McArthur uranium project in the eastern Athabasca Basin (read more). The summer drilling program is part of an approved C$5M program operated by CanAlaska, which currently holds a ~77% interest in the project. Recent drilling results returned a 6.3m long interval of elevated radioactivity in the basement rocks with hole WMA067, which is located along a newly defined exploration trend, ~6km along strike and to the southwest of the company’s 42 zone discovery. Read more

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