June 07, 2012 CanAlaska Acquires Claims Adjacent to Manitoba Ruttan Copper Mine
CanAlaska News Release - June 7 2012
Canada, June 7th, 2012 - CanAlaska Uranium Ltd. (TSX -- CVV)
("CanAlaska" or the "Company") is pleased to announce the
acquisition by staking of two blocks of claims, totalling 11,563
ha adjacent to and northeast of the past-producing Ruttan copper
mine, located near Leaf Rapids in Northern Manitoba.
The 82.8 million tonne Ruttan copper-zinc VMS deposit was
discovered in 1969. It is classified as one of the larger VMS
deposits in the world. It was mined to supply concentrate to the
Flin Flon smelter, with 55.7 million tonnes extracted between
1975 and 2002. CanAlaska staff have compiled regional
geophysical data, and identified prospective exploration targets
within the immediate vicinity of this very large VMS deposit.
These geophysical targets are supported by the information from
the previous (limited) exploration programs carried out in the
surrounding district. Historical drill information and detail in
historical assessment reports is available to confirm the very
favourable location of the targets staked by the company.
Additional confirmation of the target areas has been obtained
through detailed review of the geology and geochemical
signatures reported in the historical records and assessment
reports by consulting geologist Dr George Gale.
The new claims staked by the company are located adjacent to
main roads and access. The western block adjoins the mine
claims, 3km to the north of the open pit workings (see Figure
1). In this area, previous drilling had intersected gold as well
as base metal mineralization, with three en-echelon disseminated
sulphide zones in an intrusion breccia, associated with the Vol
fault. It appears that previous drill spacing may have been too
wide to allow correlation of the mineralized intersections
between drill holes.
The eastern claim block is centred on a large magnetic and
associated electro-magnetic anomaly (3 km long), which was
tested in its western portion by six exploration drill holes.
These historical drill holes show what appears to be a rhyolite
complex within a bimodal volcanic succession. Chalcopyrite was
observed in the sulphide rich intercepts. The geophysical
compilation and modeling by the Company of the later deep
penetrating airborne survey data indicates that the previous
drill positions are outside the newly identified target area.
CanAlaska is planning to carry out the first reconnaissance of
the new claims areas in August 2012, as part of a
diversification of exploration interests. This work will be in
addition to the Company's continued long term development of its
uranium exploration portfolio. Further projects have been
evaluated over the past months, and additional focus areas are
expected to be generated by the company's staff.
Dr. Karl Schimann, CanAlaska's VP - Exploration commented: "The
Leaf Rapids volcano-sedimentary belt is underexplored, and has
significant potential for new discoveries, especially given the
size of the previous operating mine. Early geophysical work in
the area was often limited by technology, however the later
exploration work in the closing years of the mine is of high
quality, but had limited follow-up. CanAlaska's reprocessing of
the geophysical data using our in-house staff has given us
flexibility to model multiple scenarios, and come up with some
outstanding targets in this prolifically mineralized area."
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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