Manibridge nickel; first holes planned for February 2019
Further work underway on uranium and diamond projects
Vancouver, Canada, January 15, 2019 -- CanAlaska Uranium Ltd.
DH7N)) ("CanAlaska" or the "Company") reports that
contracts have been signed for drill testing of the Manibridge
high grade nickel targets, in the southern Thompson Nickel Belt
("TNB") Manitoba. CanAlaska has three large projects in the
Thompson Nickel Belt.
The Manibridge target shows a significant concentration of
high-grade nickel within a broad fold structure that appears to
extend to depth. A 400 metre long high-grade nickel target
within a 1,200 metre long horizon of semi-continuous nickel
mineralization, north of the former producing Manibridge nickel
mine, will be tested with an initial 1000 metres of core
drilling. This zone and the main nickel drill intersections are
shown on the accompanying figure. Further data is available on
the Company's website www.canalaska.com
The Manibridge project is located in an area of generally high
nickel tenor mineralization, outlined by discovery drill holes
and recent airborne geophysical surveys, as well as a number of
untested targets. CanAlaska owns 100% of the project, which for
the past several months has been under a LOI with Canada Metals.
CanAlaska is currently working with Canada Metals to conclude a
long term property funding agreement.
CanAlaska president Peter Dasler comments, "There is a strong
need of nickel for EV battery development and the most suitable
material for this comes from sulphide nickel ore bodies. The
Thompson Nickel Belt is the fifth largest sulphide nickel mining
camp in the world, and hosts numerous nickel deposits, with new
deposits ready to be developed. It is a very good time to show
the potential of this part of CanAlaska's Energy Metals project
The company is active on a number of other fronts: CanAlaska is
currently reviewing summer drilling for the West McArthur
uranium project. The company is also supporting the current
initiatives being undertaken by Northern uranium, the Company's
JV partner on the NW Manitoba uranium project. Further VTEM and
magnetic airborne survey work is currently being carried out and
processed for some of the West Athabasca Kimberlite targets.
CanAlaska also announces that it has granted incentive stock
options to certain directors, officers and consultants of the
Company to purchase up to an aggregate of 2,240,000 common
shares of the Company pursuant to the company's share option
plan. The options are exercisable for a period of two years at a
price of $0.325 per share.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV;
holds interests in approximately 152,000 hectares (375,000
acres), in Canada's Athabasca Basin -- 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. The Company also holds properties prospective for
nickel, copper, gold and diamonds.
The qualified technical person for this news release is Dr Karl
Schimann, P. Geo, CanAlaska director and VP Exploration.
For further information visit
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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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
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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.