August 30, 2011 Update on Drilling at Cree East Uranium Project
CanAlaska News Release - August 30 2011
Vancouver, Canada, August 30th, 2011 - CanAlaska
Uranium Ltd. (TSX -- CVV) ("CanAlaska" or the "Company") is
pleased to report the results from this winter's truncated
drilling program on the Cree East project. Operations were shut
down prematurely in February, 2011 due to a fatal accident
involving a member of the drill contractor's crew. CanAlaska's
partners at the Korean Consortium, who are 50% joint-venture
partners in the Cree East project, have reviewed the results of
the three new holes completed into the basement during the
program and CanAlaska is preparing for the continuation of
drilling at these sites in Winter, 2012.
CanAlaska staff will complete the current geophysical data
processing during the course of this summer, and is preparing to
initiate further geophysical surveys in late-2011 on nearby
targets. Drilling is planned to recommence in early winter 2012.
All three winter drill holes that reached into the basement
rocks (CRE072, CRE073, and CRE074) showed distinctly anomalous
alteration and mineralization features, further extending the
zones of strong alteration which characterize Zone A and Zone I.
Of particular interest was drill hole CRE073, which was finally
lost in a highly-altered zone of strongly hematised massive clay
in basement rock at Zone A. This hole was a 100-metre step-out
to the northwest of holes CRE035 and CRE037. Within this
immediate area, all previous drill-holes have located major
fault offsets, with hematization and clay alteration both in the
sandstone and basement units. In CRE073, the basement rocks were
systematically sampled for the purpose of mapping geochemical
and alteration haloes. Samples reported are composites of 5-10cm
half core taken at every metre marker throughout the drill hole.
The analyses of these samples show elevated silver (highest 6.4
oz/t), associated with elevated copper, cobalt, nickel, zinc and
minor uranium mineralization in the basement clay zones and in
the associated pegmatites and pelites as shown in Table 1 below.
The drill hole was lost at the second clay zone, approximately
100 metres from its target depth.
Table 1. Anomalous Mineralization in Hole CRE073 (Bolded)
Additionally, the basement interface in hole CRE073 was
intersected 40-50 metres higher than expected and the drill hole
cut a repetition of the sandstone, in what is thought to be a
reverse fault. This drill intersection is depicted on Section
A-A' below (Fig 2). The section shows also that the uranium halo
(including anomalous nickel, arsenic and lead) in the sandstone
continues to reach more than 100 metres above the unconformity.
Areas of co-incident low resistivity in the sandstone of these
areas have been outlined by previous geophysical surveys and
represent the prime targets for drill-testing under the
recently-approved $3.1 million Winter 2012 budget.
President Peter Dasler commented "We are working on a physically
large project, with multiple significant geophysical targets.
Each target is being progressively tested. Drill hole CRE073 in
Zone A displays the intense physical alteration which is
expected near a significant uranium deposit, and the elevated
trace element geochemistry has given us important information as
to vectoring our ongoing drill programs within Zone A's large
All of the samples from the Cree East project were submitted to
Acme Laboratories Vancouver, an ISO 9001:2000 accredited and
qualified Canadian Laboratory, for their Group 4B analysis.
These samples were analysed for uranium and multi-element
geochemistry by tri-acid digestion and ICP-MS. The samples were
collected by CanAlaska field geologists under the supervision of
Dr. Karl Schimann, and were shipped in secure containment to the
laboratories noted above.
Peter Dasler, M.Sc., P Geo. is the qualified technical person
responsible for this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX, CVVUF -- OTCBB, DH7F --
Frankfurt) is undertaking uranium exploration in twenty one
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$75 million
exploring its properties and has delineated multiple uranium
Emil Fung, Director & V.P. - Corp. Dev.
The TSX 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
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