CanAlaska Uranium Ltd






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Lake Athabasca


Location

The Lake Athabasca Project is centred approximately 30 kilometres southwest of the community of Uranium City north-western Saskatchewan. The project consists of two claim blocks comprised of 11 mineral claims totalling 43,669 hectares, southwest of the formerly producing Uranium City area where former mine production was some 65 million pounds U3O8. The claims were staked between December 2004 and April 2005 to cover an area hosting strong structural and stratigraphic similarities to the Gunnar and Fay-Ace-Verna Mines and the numerous other past producing uranium mines that comprise the Beaverlodge camp. The Lake Athabasca claims also cover the "Main Zone" uranium deposit and a number of other uranium occurrences and lie adjacent to the past producing Gunnar Mine. The property includes both the lake and islands. Lake water depths vary from shallow to 97 metres and are shallower than 50 metres throughout a large part of the project. 

Geology

Outcrops of Athabasca sandstone occur on islands near the northeast corner of the project and on Beartooth Island on an adjoining property south of the west end of the project area. The area to the north is extremely rich in granite hosted shear and vein uranium mineralization, and is home to several past-producing uranium mines. The heavily metamorphosed Archean rocks are intruded by Lower Proterozoic Plutons and deformed by the Trans-Hudson orogen resulting in fault bound sedimentary basins covered by the flat-lying Athabasca sandstones and conglomerates to a depth of 300 metres.

Exploration

The project area was explored by Eldorado in the 1970's, during which the Stewart Island uranium showing was located and drilled. In addition, numerous other geological and geophysical studies were completed. CanAlaska has carried out two short phases of drilling in the areas south of the Gunnar mine, and near Johnson Island. This drilling has identified major basement offsets and zones of anomalous uranium mineralization. 

CanAlaska Exploration

Exploration undertaken by CanAlaska during the period 2006 to 2009 has includes VTEM and MEGATEM surveying, prospecting, grid rock and soil sampling, geologic mapping, lake sediment sampling, IP resistivity and Max-Min surveying, lake-bathymetry, seismic profiling and two drill programs totaling 15 diamond drill holes. CanAlaska's work includes the evaluation of most of the properties' known uranium occurrences and zones of alteration, the definition by geophysical methods of property scale structures, the confirmation and expansion of historical lake sediment anomalies in the area, and the identification by outcrop sampling and diamond drilling of clay alteration consistent with a property scale hydrothermal alteration event. A Technical Report was filed on the Property in 2010; the report summarizes the work that has been completed on the Lake Athabasca Property to date and recommends the following exploration be conducted in eight specific target areas.

Potential

The potential of this project is for unconformity style uranium mineralization of both the Simple (Low REE, basement hosted) and the Complex (High REE, Sandstone hosted) types of Uranium. The Gunnar Mine, second largest producer in the Uranium City area, lies immediately north of the project area and surface showings of uranium in Athabasca rocks occur on, and near the northeast part of the project. 

The Qualified Person for this overview is Peter Dasler. More detailed exploration information is available in the News Summary above.


Technical Report 43-101