Battery developers turning to nickel sulphide to power
electric vehicle boom
Vancouver, Canada, September 28, 2017 -- CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N)
("CanAlaska" or the "Company")is pleased to announce that it has
acquired two Mineral Exploration Licences covering over 16,000
hectares (63 sq miles) in an area highly prospective for
sulphide nickel located 25 kilometres northwest of the town of
Thompson and Vale's nickel smelter and mining operations.
The land package covers extensive areas of favourable nickel
geology identified in historical work by both Inco and
Falconbridge. Drill testing of the area ceased in 2005, but an
extensive portion of the properties were later flown by next
generation VTEM airborne in 2007, providing twenty-nine new
targets, six of which are high priority targets within mapped
Pipe Formation stratigraphy.
The uranium mineralization is disseminated within a brittle
sandstone fault at 768.4 meters to the unconformity at 778.0
metres. The fault is characterized by broken to unconsolidated
core with strong sooty pyrite, 16% core loss, strong quartz
dissolution, and strong clay replacement that includes 10-40 cm
wide sections of massive clay. Detailed assays and
interpretation from the drill program is expected to be reported
The two licences surround the 5.3 million tonnes "Mel" Nickel
Deposit and cover the most prospective stratigraphy to the north
and west. Historical drill nickel intercepts in the stratigraphy
to the east of the "Hunter" licence include intercepts of
significant nickel mineralization in four separate zones.
Historical drill intercepts
2.43% Ni/1.92 metres
1.09% Ni/0.3 metres
1.06% Ni/0.3 metres
1.95% Ni/0.46 metres
These reconnaissance drill holes require further follow-up, as
the grade indicates sulphide mineralization similar to the
deposits in other parts of the Thompson Nickel Belt.
To the north, the "Strong" licence covers the extension of the
Thompson Belt stratigraphy explored by Falconbridge until 2005.
A new VTEM airborne survey flown in 2007, added to the
information provided by earlier ground geophysics and 13,000
metres of drilling identified the potential for a major
discovery north of the "Mel" zone. Further work was cut short in
2008 by market conditions.
CanAlaska president Peter Dasler comments, "Nickel sulphide
deposits provide superior metallurgy and reduced extraction
costs compared to laterite nickel. There is a predicted demand
for sulphide nickel for industrial uses and new demand for
various types of new electric battery manufacturing. The
Thompson Nickel Belt hosts world class nickel mineralization,
and there is ample evidence to expect further discoveries in the
Belt. The recent uranium industry slowdown has prompted our
diversification into project generation in base and precious
metals. The expiry of long term claim licences provided the
opportunity to follow-up on research completed and projects
identified by our technical team."
About the Thompson Nickel Belt
The Thompson Nickel Belt is a 350 kilometre long nickel dominant
mineral belt located in northern Manitoba. The Belt hosts a
number of massive to disseminated nickel sulphide deposits.
Major nickel sulfide deposits include the Thompson, Birchtree,
Soab and Manibridge deposits. Based in the town of Thompson,
Vale operates the Birchtree and Thompson nickel mines. Mines in
the Thompson area have produced over 4 billion pounds (1.8
billion kilograms) of nickel over the past 50 years. The Belt's
extensive mafic-ultramafic mineralization makes the region a
major exploration frontier for discovery of sulphide nickel
West McArthur Update
In other events CanAlaska is waiting for final drill information
and assay data from the 2017 summer uranium exploration by
Cameco on the West McArthur property. The Company has previously
reported the radiometric grades for the two holes which
intersected unconformity uranium mineralization, but additional
details for these holes, as well as further Grid 5 and Grid 1
holes, is still to be received.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV;
holds interests in approximately 500,000 hectares (1.2 million
acres), one of the largest land positions in Canada's Athabasca
Basin region -- the "Saudi Arabia of Uranium." CanAlaska's
strategic holdings have attracted major international mining
companies. CanAlaska is currently working with Cameco and
Denison at two of the Company's properties in the Eastern
Athabasca Basin. CanAlaska is a project generator positioned for
discovery success in the world's richest uranium district. For
further information visit www.canalaska.com.
The qualified technical person for this news release is Dr Karl
Schimann, P. Geo, CanAlaska director and VP Exploration.
behalf of the Board of Directors
Peter Dasler, P. Geo.,
President & CEO
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
All statements included in this press release that address
activities, events or developments that the Company expects,
believes or anticipates will or may occur in the future are
forward-looking statements. These forward-looking statements
involve numerous assumptions made by the Company based on its
experience, perception of historical trends, current conditions,
expected future developments and other factors it believes are
appropriate in the circumstances. In addition, these statements
involve substantial known and unknown risks and uncertainties
that contribute to the possibility that the predictions,
forecasts, projections and other forward-looking statements will
prove inaccurate, certain of which are beyond the Company's
control. Readers should not place undue reliance on
forward-looking statements. Except as required by law, the
Company does not intend to revise or update these
forward-looking statements after the date hereof or revise them
to reflect the occurrence of future unanticipated events.