VANCOUVER, March 27, 2012 /PRNewswire/ - CanAlaska Uranium Ltd. (TSX: CVV) ("CanAlaska" or the "Company") is pleased to announce the commencement of geophysical field work on its high-potential NW Manitoba uranium-REE project ("Project").
Exploration on the NW Manitoba Project had been suspended since 2007 due to consultation meetings between the Government of Manitoba and local First Nation communities. With the Government's conclusion of a consultation protocol and the recent execution of a memorandum of understanding (MOU) to facilitate co-operation for exploration and future development between CanAlaska and the Northlands Denesuline community of Lac Brochet, the Company is now pleased to announce the recommencement of exploration work.
For map click here: http://www.canalaska.com/s/News.asp?ReportID=514641
The Project covers a large area of the geologically-favourable Wollaston Belt in the Province of Manitoba, where the uranium-rich basement rocks associated with the Athabasca uranium deposits intermittently come to surface. CanAlaska has discovered multiple mineralized zones with extensive boulder dispersion trains and surface showings of high-grade uranium (>1% U 3O 8), rare earths (REE) and molybdenum mineralization across numerous mineralized belts, either within, or cutting across all rock types in the area.The geological targets across the vast NW Manitoba Project match the styles of basement mineralization reported from the massive uranium deposits further south in the Athabasca Basin. There is clear observation of late-replacement pitchblende mineralization in vein zones, fractures and as disseminations in host rocks at uranium grades exceeding 60% U 3O 8. There is also evidence of more disseminated mineralization across stratigraphic horizons and multitudes of pegmatitic intrusive events, many of them containing primary uranium mineralization, or with brecciation and later uranium mineralization. These outcropping targets host the potential for open pit extraction Preliminary results for many of these zones were announced by the Company in a news release on February 28th, 2008. The current resistivity and gravity geophysical surveys will be used to localize targets of sulphide-bearing mineralization, and other zones of clay alteration within areas of shallow overburden. The survey will concentrate on areas in the vicinity of current showings and mineralized boulders in preparation for an initial drill program.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV