ARTICLE: Exploration Ramps Up at Athabasca Kimberlite Project

Excerpted from The Northern Prospector

With a probable capacity to produce 30 per cent of the world’s uranium for the next 50 years, Canada’s Athabasca Basin region is known as the “Saudi Arabia of Uranium.” The discovery of kimberlites, however, has expanded the potential

of this resource-rich area to include diamond exploration in northwestern Saskatchewan. On May 18th, 2016, CanAlaska Uranium Ltd. entered into an Option-Participation Agreement with De Beers Canada Inc., whereby De Beers will spend up to $20.4 million over seven years to explore and evaluate 75 kimberlite-style targets within CanAlaska’s 17,400 hectare claim package. The staged project gives CanAlaska the opportunity to jointly fund exploration, once De Beers has earned its 70 per cent interest, and preliminary exploration results are made available. By teaming with De Beers, CanAlaska can continue to focus on its core business, uranium exploration, and leverage the expertise of De Beers to further a very promising diamond exploration project. “There is already a staking rush in the area, with other companies 50 to 100 kilometres from us also looking for diamonds,” says Peter Dasler, President of CanAlaska. “Our partnership with De Beers is a huge endorsement. Ground crews have collected over 100 samples, and an airborne magnetic survey program was completed in the summer. There’s approximately 10 to 20 metres of glacial gravel on top of the kimberlite targets, so we’ll have to see if there are diamond indicator minerals, similar to what’s been found to the south in Alberta.”

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