New large geophysical targets to be tested for copper-zinc mineralization
Vancouver, Canada, March 10, 2017 — CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N), (the “Company“) is pleased to announce that field work is underway in preparation for a four hole drill program to commence March 14 at the Company’s Nisku claim. The Nisku property is located 7 kilometres east of CanAlaska’s North Ruttan copper-zinc property in the Leaf Rapids area of Northern Manitoba.
The drilling will test a coincident VTEM magnetic and electromagnetic target, which has the characteristics of a large volcanogenic massive sulphide (VMS) deposit. The target is located near the past producing Ruttan copper-zinc massive sulphide mine. The Ruttan mine was one of the largest VMS deposits in Canada. Discovered in 1968, the mine operated from 1973 to 2002, and produced 55 million tonnes at 1.23% copper and 1.41% zinc, from an 82 million tonne resource. The Company has contracted Cyr Drilling International Ltd. of Winnipeg, Manitoba for the drilling.
CanAlaska President Peter Dasler commented, “Nisku is a very exciting target for us. It is located within a relatively unexplored greenstone belt in Northern Manitoba, but in an area which has other VMS deposits. CanAlaska has carried out ground mapping and geophysics on this target and another larger target immediately north of the Ruttan mine. Our North Ruttan massive sulphide target has been tested to a depth of 150 metres along a 1.4 kilometre length, and is now awaiting further infill and deeper drilling. The Nisku target has a very strong response at shallow depth (50 metres), and will be tested with the help of funding from the Government of Manitoba under their MEAP assistance program.”
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) 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 Cameco, Denison, KORES, and KEPCO. 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, VP Exploration, for CanAlaska
On behalf of the Board of Directors
Peter Dasler, P. Geo., President & CEO
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email: [email protected]
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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.