Final results give higher grades and widths of nickel mineralization
Mine purchase provides new data and further nickel targets
Vancouver, Canada, June 11, 2019 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to report final laboratory assays for the high-grade sulphide nickel mineralization intercepted in the winter drill program at Manibridge, Manitoba. All four holes on the North Manibridge Zone returned upgraded assay results and lengths, with high-grade nickel up to 12.06% over 0.95 metre contained within semi-massive and disseminated sulphide mineralization.
Descriptions of the mineralized intervals were reported in a news release March 7, 2019. The following table shows the re-assay data. The drilling intersected nickel mineralization within a broad fold structure, 2.5 kilometres north of the past-producing high-grade Manibridge nickel mine. Multiple high-grade nickel assays necessitated re-assay of sections of core from all drill holes, with the key intercepts as listed in Table 1 below:
Review of mine data:
|Length metres||Ni %||Cu %||Co %|
Mine data indicates and reports that there is potential for other nickel mineralized lenses within the immediate mine area, as well as within the surrounding property package.
The Manibridge nickel deposit consisted of a high-grade “Zone A” that provided the main ore feed and a lower grade “Zone B”. The Zone A mineralization sits on the hanging wall of the ultramafic and within the upper ultramafic; the Zone B mineralization is below Zone A and near the center of the ultramafic body. Both zones appear to be lost southwest of the mine shaft. Zone A was cut-off by a fault below the 6th level of the mine.
The 600 metre long exploration drift to the north on level 5 was to test for another high grade zone that had been intersected from surface drill hole W50-88. Mineralization in underground drill hole 5-117, which was drilled to the north from the end of the exploration drift, was also reported as intersecting 3.66 metres @ 3.04% Ni. This hole is now correlated to mineralization in surface hole W50-89 which intersected multiple mineralized zones including 3.0 metres @ 1.17% Ni, 7.02 metres @ 1.48% Ni, and 1.5 metres @ 0.92% Ni. The location of this zone is shown in isometric view in Figure 1 and longitudinal section in Figure 2.
CanAlaska President Peter Dasler comments, “The drill data obtained from the Manibridge mine purchase has given the Company’s consultants confidence that further drilling and modern geophysics will allow the rapid delineation of new nickel mineralized lenses in the Manibridge mine and to the north where we also received high-grade assays from this past winter drilling. It is pleasing to see the increased nickel and cobalt values from the re-assay process.”
The Company has launched a new mobile friendly website with further uranium and nickel project data, and invites shareholders to view the latest presentations.
West McArthur Uranium Project:
The West McArthur uranium project drilling will commence June 20 and is expected to continue into early October. Drilling will commence in the immediate area of the high-grade uranium intercepts in holes WMA-042 and WMA-042-2, and is targeting additional mineralization in the structural offsets indicated from previous drilling.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) 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. 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.
On behalf of the Board of Directors
Peter Dasler, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: [email protected]
Cory Belyk, COO
Tel: +1.604.688.3211 x 138
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.