May 31, 2012 ASSAY RESULTS FOR CREE EAST PROJECT SHOW MULTI-ELEMENT ALTERATION HALOS
CanAlaska News Release - May 31 2012
Vancouver, Canada, May 31st, 2012 - CanAlaska Uranium Ltd. (TSX
-- CVV) ("CanAlaska" or the "Company") has now received
uranium assay results and trace element geochemistry for the
winter drill program on the Cree East project. As expected, the
results confirm the anomalous multi-element enrichments in the
large alteration zone indentified at Zone B, and additional gold
and uranium mineralization in drill hole CRE080, which
intersected mineralized iron formation at Zone J (also see
News Release 13 April 2012).
Table 1: Selected
At Zone A, drill
hole CRE085 confirmed the presence of an intense
hydrothermally-altered and hematized clay section and anomalous
uranium in the overlying sandstone, previously intersected in
drill hole CRE073.
The Zone B target became the priority drill target with the
discovery of a major hydrothermal system. The entire 400-metre
sandstone column is heavily fractured, clay altered and friable.
Six holes were attempted in Zone B. However, the last three
drill holes failed to reach the basement rocks. The drilling has
outlined a zone of extreme alteration of the sandstone with
intense faulting, brecciation, and large rotated sandstone
blocks, from the unconformity to the top of the sandstone. This
zone was defined by drill holes CRE083, 086, 088, 090 and 091,
and currently measures 110 by 210 metres in extent. The drill
section details with basement offsets, arsenic and uranium
extent are shown in Figure 2.
combines silicification and desilicification with a broad
reduction halo, marked by the bleaching of diagenetic hematite,
grey alteration, and influx of pyrite disseminated and along
fractures. The clay assemblage is dominated by kaolinite and
illite, but with abundant sudoite high up in the sandstone.
Dickite is essentially absent, except in the top of the
sandstone, in nearby hole CRE084.
The geochemistry of the sandstone mirrors the alteration, with a
broad and robust 2ppm arsenic halo reaching 250 metres into the
sandstone. Arsenic is accompanied by nickel, cobalt and boron,
and overlies a uranium halo which reaches 80 metres into the
sandstone in the current drilling. In CRE083, a 0.5 metre
section of core assays 0.09% U3O8 and also contains 0.3 g/t Au.
The basement of CRE086 is composed entirely of quartzite, and
may represent a quartz ridge parallel to the conductor target.
Drill hole CRE084, located 400 metres to the east of the main
alteration zone shows only minor alteration in the sandstone,
but has a number of hematized clay alteration zones deep in the
basement rocks. This drill hole contains two uranium mineralized
sections, 0.5 metre at 0.014 % U3O8 (464.5-465.0) and 0.5 metres
at 0.010% U3O8 (598.3-598.8). The second interval also contains
0.2 g/t gold and is adjacent to a 1.0 metre section grading at
13.3 g/t gold. This mineralization is located in hematised clay
altered pegmatite. A further section of pelite, from 523 to 532
metres contains 3 g/t gold and has elevated radioactivity.
Dr. Karl Schimann, CanAlaska's V.P. - Exploration commented:
"The drill core in holes CRE083, CRE086, CRE088, CRE090, and
CRE091 has by far the most intense zone of sandstone alteration
and deformation observed on the Cree East property. This
hydrothermal system extends at least 400 metres further east to
encompass drill hole CRE084. It is also wide open to the west,
where the surface DCIP resistivity response, shows the most
intense low within the lower sandstone. The multiple element
geochemical halo, the fluid dissolution effects, as well as the
sporadic higher uranium responses indicate that the main target
in this area is part of an intense chemical and physical
hydrothermal event. Gold mineralization has been observed in
association with several unconformity deposits, eg Cluff Lake,
Cigar Lake, but usually in minor amounts. The high grades
observed here may relate to the intensity of the hydrothermal
system at Zone B. It is very disappointing that we were not able
to complete the current drill holes down into the target."
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. 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. All samples were
analyzed for uranium and multi-element geochemistry by tri-acid
digestion and ICP-MS.
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$85 million
exploring its properties and has delineated multiple uranium
Emil Fung, Director & V.P. - Corp. Dev.
The TSX has not reviewed and does not
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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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