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CanAlaska News Release -July 29
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Vancouver, Canada, July 29th, 2010
-- CanAlaska Uranium Ltd. (CVV -- TSX.V) (the
"Company" or "CanAlaska") is pleased to report the
commencement of a property-wide deep penetrating
airborne ZTEM survey on the West McArthur Project, a
50/50 joint venture between the Company and MC
Resources Canada Ltd., a subsidiary of Mitsubishi
Corporation ("JV"). The survey will cover the
majority of the property, including current drill
targets at Grid 1 and Grid 2, as well as the
developing target at Grid 5.
The JV initiated the survey after reviewing data
available from a test survey across the Grid 1 area
as well as survey data from other properties
indicating the ability of the ZTEM system to resolve
deep conductive targets better than existing VTEM or
MEGATEM surveys.
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Click on the map to view in high resolution image
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President Peter Dasler commented, "We have been
successful in locating hydrothermally-altered zones within three
Grids on the West McArthur Property, based on initial MegaTEM
and, later, VTEM surveys. The aim of the JV partners is to
systematically identify other similar targets and build
exploration programs around them, but also to sequentially
develop a new target zone each year. In 2010, the JV
concentrated on the Grid 1 target and encountered success in
identifying uranium mineralization and basement offsets within
the target area. Additional drilling is required to intercept
the trend of the offsets. In the Grid 5 area, we were able to
define during Winter 2010 exploration a zone of disruption
within the main conductor and a strong resistivity anomaly in
the same area, indicating a very good drill target for uranium
mineralization. The ZTEM survey will provide us with additional
information in this immediate area as well as look for
additional similar targets for future exploration planning. Our
aim is to systematically drill-test the best exploration targets
during a five-year exploration plan in conjunction with our JV
partner."
Peter Dasler, M.Sc., P Geo. is the Qualified Person responsible
for this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 --
Frankfurt) is undertaking uranium exploration in twenty
100%-owned and three optioned uranium projects in Canada's
Athabasca Basin -- the "Saudi Arabia of Uranium". Since
September 2004, the Company has aggressively acquired one of the
largest land positions in the region, comprising over 2,500,000
acres (10,117 sq. km or 3,906 sq. miles). To-date, CanAlaska has
expended over Cdn$65 million exploring its properties and has
delineated multiple uranium targets. |
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, P. Geo.,
President & CEO
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Contact:
Emil Fung, Director & V.P. - Corp. Dev.
Tel: +1.604.688.3211
Email: info@canalaska.com
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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. |
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