This project covers 37,310 hectares and is situated directly adjacent to, and along the North-East strike of the past-producing uranium mines at Rabbit Lake and Collins Bay, and the current producing uranium mine at Eagle Point. CanAlaska held the project through an option agreement with Bayswater Uranium Corp. In 2015, the project was sold to Nu Nova Energy (Canada) Ltd. CanAlaska retains a royalty on the property.
EXPLORATION & GEOLOGY
The Project contains a significant number of exploration targets in the Snowbird and Fife Island areas. In early 2010 CanAlaska drill tested the structurally controlled uranium mineralization intersected in historical (1984) Minatco drill holes MWLD8-13.
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The drilling confirmed the tenor of the historical shear hosted mineralization at Fife Island, and also tested a large target south of Blue Island. The first three drill holes targeted the approximate location of the historical intersections as well as 20 metres above and below to test the continuity of this type of mineralization. Several mineralized zones were intersected.
The Blue Island target is a large diatreme structure containing uranium mineralization. Drill hole CBX006 penetrated a very long section (257 metres) of heterolithic diatreme breccia containing rafts of various Aphebian and possibly Archean metamorphic rocks together with some granite and diorite. Most of the fragments in the breccia zone are rounded with the rocks in the larger rafts being sheared, chloritised and/or argillized. This brecciation continues to the end of the drill hole. The overburden-basement interface is marked by black silt clay, containing a rounded nodule and angular fragments of pyrite, together with graphite. The radiometric probing data shows a marked step-up of the radioactive background at the overburden-basement interface. A second radioactive peak occurs lower down within the basement breccias. There are additional zones of high background radioactivity corresponding to fault zones.
There are a large number of structural targets throughout the project area. These all have the potential to host basement style mineralization, such as the Eagle Point Mine, currently mined to depths of 430 meters. The large diatreme structure has potential for new style mineralization events.
The Qualified Person for this overview is Peter Dasler. More detailed exploration information is available in the News Summary below.