This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CanAlaska Uranium Ltd. - Winter Drilling At West McArthur And Cree East Uranium Projects Hit Graphitic Target Zones And Strong Alteration Systems

  Toronto Stock Exchange (TSX): CVV    

VANCOUVER, April 13, 2012 /PRNewswire/ - CanAlaska Uranium Ltd. (TSX - CVV) ("CanAlaska" or the "Company") is pleased to announce a preliminary summary of drilling for its two winter drill programs in the Athabasca Basin. Drilling was undertaken at both the West McArthur and Cree East projects.  The West McArthur Project is a 50/50 joint venture between the Company and MC Resources Canada Ltd., a subsidiary of Japan's Mitsubishi Corporation.  The Cree East Project is a 50/50 joint venture between the Company and a consortium of S. Korean companies, comprising Hanwha Corp., KEPCO, KORES and SK Networks,

Drill core samples are currently awaiting geochemical analyses.  Crews are departing the field, and detailed data interpretation is due to commence.  The two programs comprised over Cdn$6 million in exploration expenditures with 12,434 metres of drilling.

West McArthur Project:

Seven diamond drill holes (WMA 028 to 034) were completed in February- March 2012, to test a series of individual zones where the resistivity lows were coincident with the EM conductors within the Grid 5 area.  Total meterage drilled in the season was 6,422 metres, including one abandoned drill hole WMA031.  The winter 2012 drill programme has demonstrated on Grid 5 the presence of requisite geological environment for unconformity uranium deposits. Significant faulting and fracturing are present in a number of drill holes, with individual radioactive spikes or elevated radioactivity in zones of hydrothermal alteration.

From drill core and geophysical data, Grid 5 basement lithologies have now been confirmed to consist of mostly semi-pelitic to psammitic assemblage of rock units, containing a central unit of graphitic pelites.  Locally there is alteration typical of the geological environment favourable for uranium mineralization.  Two of the drill holes showed pelitic basement assemblages with graphite units.  The other five holes showed metasedimentary basement rocks composed of a mix of semi-pelites and psammites.   Pegmatite and granite interlayers are present in all drill holes.  Frequent fracture zones and major faults were intersected in drill holes WMA028, 032, 033, and 034.  Drill hole WMA029 had a broad zone of intense fracturing at 617 to 633 metres.  The basement rocks are deeply altered by hydrothermal action in drill holes WMA028, 033 and 034.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs