- CanAlaska Uranium Ltd. (CVV) has received assay results for the remaining drill holes for the 2022 program at the West McArthur Project
- High-grade uranium mineralization has now been confirmed by assay in four drill holes
- With these new results, the company believes that it has successfully identified the orientation of a controlling structure
- A subsequent 2023 exploration program and a $10 million budget have been approved by the joint venture parties
- CanAlaska Uranium Ltd. (CVV) is up 2.25 per cent and is trading at $0.45 per share as of 1:53 p.m. EST
CanAlaska Uranium Ltd. (CVV) has received assay results for the remaining drill holes for the 2022 program at the West McArthur Project.
High-grade uranium mineralization has now been confirmed by assay in four drill holes in the discovery area at various elevations throughout the 40- to 50-metre-wide graphitic horizon.
Specifically, in hole WMA072-3, assay results indicated multiple high-grade intersections over a 12.6-metre-wide zone which was highlighted by 3.98 per cent uranium oxide over 2.30 metres, including a sub-interval of 25.40 per cent uranium oxide over 0.30 metres.
Additionally, WMA070 returned 0.84 per cent uranium oxide over 5.00 metres. CanAlaska stated this complemented the previously reported high-grade intersection in WMA067 and provided a compelling target.
With these new results, the company believes that it has successfully identified the orientation of a controlling structure for the basement-hosted uranium mineralization as part of a larger fault system.
The ideal target from this has not been drill-tested and remains a high-priority target for CanAlaska’s next drilling program.
The joint venture parties have approved a subsequent 2023 exploration program and a $10 million budget.
CanAlaska Uranium Ltd. (CVV) is up 2.25 per cent and is trading at $0.45 per share as of 1:53 p.m. EST.
