Vancouver, Canada, November 16, 2010.
CanAlaska is pleased be able to provide its recently commissioned NI 43-101 technical summary report for the Carswell Uranium Project in the Athabasca Basin, Canada. This report is now available on SEDAR and EDGAR databases for public viewing.
The Carswell 43-101 report was prepared by Sandra Jean Foster Consulting Ltd, of Saskatoon, Saskatchewan, with geophysical input from Mr. Grant Nimeck of Living Sky Geophysics Inc. (LSGI). The project comprises a large area on the western side of the Carswell structure, in the western Athabasca Basin. In the report, Ms. Foster provides a description of exploration on the project, and applies the LSGI interpretation to the regional geology. The report identifies priority areas where structural disruptions may have the potential to host economic uranium mineralization. Ms. Foster recommends that future work include detailed examination of drill core from historical drill hole SYL-1 and documentation of physical property data collected from the core to be applied in future geophysical interpretations. Ground geophysical surveys are also recommended, including prioritization of EM features and dc-resistivity on selected target areas. Finally, drill testing is recommended to identify and delineate any alteration and/or structural features.
The recommended program of exploration on three priority target areas, is estimated at CAN $15.25 Mil, with Phase 1 and Phase 2 budgets of CAN $ 5.04 Mil and $10.21Mil respectively.
President Peter Dasler states: “The Cluff Lake area historically produced approximately 64,000,000 lbs of uranium at an average grade of 0.92% U3O8 from a series of open pit deposits. Recent exploration in the Shea Creek area to the south of Cluff Lake, and located south east of CanAlaska’s Carswell project, has identified multiple zones of high grade uranium mineralization associated with graphitic conductors and structural offsets, as well as “perched” uranium mineralization in the overlying sandstone. CanAlaska’s landholdings host multiple target areas with potential for uranium discovery. This project and others are currently being presented by CanAlaska to interested parties for long term funding and Joint Venture. ”
To view the 43-101 report please click HERE.
Peter Dasler, M.Sc., P Geo. is the Qualified Person responsible for this news release.
For more information visit www.canalaska.com
On behalf of the Board of Directors
Peter Dasler, P. Geo., President & CEO
Emil Fung, Director & V.P. – Corp. Dev.
Email: [email protected]
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release: CUSIP# 13708P 10 2. This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.