CanAlaska identifies multiple uranium zones at North East Athabasca
Project, Saskatchewan
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VANCOUVER, Jan. 16 /CNW/ - CanAlaska Ventures Ltd. is pleased to report
the start of its winter drilling and geophysics exploration program and the
final quantitative results from 2005 uranium exploration and sampling at the
Company's North East Athabasca Project.
WINTER EXPLORATION PROGRAM
Camp set-up has started on the West McArthur project for which two drills
have been secured by contract. The drills are to mobilize in the fourth week
of January. Additional geophysics is also planned for this project.
Geophysics and drilling is also planned on the Waterbury project where
our joint venture partner, Northwestern Mineral Ventures Inc. will finance the
program. On this project, crews will start work in the third week of January.
Geophysics and drilling has also been planned for the Lake Athabasca Project.
NORTH EAST ATHABASCA PROJECT
This large project covers 542,056 acres (2,194 km2) and straddles the
Saskatchewan-Manitoba border.
Highlights:
- Numerous mineralized areas found on NE project licences
- Uranium boulder trains 0.2 % to 11.1 % U3O8
- Mineralised outcrops with up to 9.5 % U3O8
- High molybdenum in several areas, reaching over 5% Mo.
- High proportion of anomalous lake sediment in the 1905 sample
survey
Athabasca sandstone outliers to the west and south (Reilly Basin)
indicate the strong possibility that this area was once covered by Athabasca
sandstone. The North East Athabasca Project exploration licences cover the
northern extension of the Wollaston Belt, which underlies all of the major
uranium mines in the eastern Athabasca Basin.
Previous exploration work in the North East Athabasca Project area in the
late 1970s identified uranium boulder trains and uranium-rich lake sediments.
CanAlaska's current program of surface follow-up and prospecting with a field
staff of 15 geologists and prospectors has led to the discovery of new areas
of mineralised boulders and outcrops. The Company has defined twenty-five
anomalous zones. Of these, ten have experienced previous exploration, and
fifteen are either new zones or significant additions to previous work.
Final results have now been received from the Saskatchewan Research
Council Analytical Laboratories and are tabulated below. The attached figure
shows the location of the mineralized areas. Two areas are particularly
prospective: the Maguire Trend (Snyder13 with an outcrop at 9.5% U3O8) and
adjoining prospects U-Th2, Snyder1, U-Th1, and especially Calc-silicate3 with
a boulder at 11.1% U3O8; the Snyder4-Island-Hook Lake Group. Snyder4 has a
very large proportion of anomalous boulders over 1% U3O8 and high associated
molybdenum (up to 5.5 % Mo combined with 4.0 % U3O8 in the same sample).
<<
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Sample % %
Area Number Type U3O8 Mo
--------------------------------------------------------------
Calc-silicate 2 DM079 boulder 0.28
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Calc-silicate 2 DC079 boulder 0.21
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Calc-Silicate 3 DM092B outcrop 0.48
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Calc-Silicate 3 DM092 outcrop 0.46
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--------------------------------------------------------------
Calc-Silicate 3 DC099 boulder 11.07
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Calc-Silicate 3 DC100 boulder 1.89
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Calc-Silicate 3 DC095 boulder 0.29
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Calc-Silicate 3 GM095 boulder 0.26
--------------------------------------------------------------
Calc-Silicate 3 GM097 boulder 0.20
--------------------------------------------------------------
--------------------------------------------------------------
Charcoal 1 OM021 boulder 2.70
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Charcoal 1 OM022 boulder 0.55
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Charcoal 4 WM041 boulder 0.95
--------------------------------------------------------------
--------------------------------------------------------------
Charcoal 8 WM167 boulder 1.00
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Charcoal 8 WM166 boulder 0.97
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Charcoal 8 DC106 boulder 0.63
--------------------------------------------------------------
Charcoal 8 GM108 boulder 0.45
--------------------------------------------------------------
Charcoal 8 WM165 boulder 0.34 0.34
--------------------------------------------------------------
Charcoal 8 WM168 boulder 0.27
--------------------------------------------------------------
--------------------------------------------------------------
Charcoal 9 JR054 boulder 0.97
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Charcoal 9 JR049 boulder 0.64
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Charcoal 9 WM160 boulder 0.52
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Charcoal 9 WM164 boulder 0.50 0.25
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Charcoal 9 WM156 boulder 0.45
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Charcoal 9 OM114 boulder 0.43
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Charcoal 9 OM112 boulder 0.34
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Charcoal 9 WM159 boulder 0.33 0.76
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Charcoal 9 OM116 boulder 0.32
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Charcoal 9 WM161 boulder 0.28
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Charcoal 9 WM162 boulder 0.25
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Charcoal 9 JR053 boulder 0.20
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Charcoal 11 WM215 outcrop 0.35
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Charcoal 12 WM222 outcrop 0.35
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Charcoal 12 OM161 boulder 3.56
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--------------------------------------------------------------
Hara 5 DC053 boulder 0.50
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Hara 5 DC051 boulder 0.45
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Hara 5 OM082 boulder 0.45
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Hara 5 DC068 boulder 0.41
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Hara 5 JR037 boulder 0.38
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Hara 5 JR038 boulder 0.35
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Hara 5 DC067 boulder 0.32
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Hara 5 OM094 boulder 0.31
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Hara 5 DC070 boulder 0.29
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Hara 5 DM057 boulder 0.27
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Hara 5 DC054 boulder 0.25
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Hara 5 OM084 boulder 0.25
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Hara 5 OM081 boulder 0.22
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Hara 5 DC066 boulder 0.21
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Hara 5 OM152 boulder 0.51
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Hara 8 WM210 boulder 0.63
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--------------------------------------------------------------
Hook Lake Zone BM019 outcrop 0.79 0.23
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Hook Lake Zone RWM325 outcrop 0.55
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Hook Lake Zone GM055 outcrop 0.53
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Hook Lake Zone BM018 outcrop 0.51 0.32
--------------------------------------------------------------
Hook Lake Zone RD035 outcrop 0.44
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Hook Lake Zone AM003 outcrop 0.37
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Hook Lake Zone AM004 outcrop 0.31
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Hook Lake Zone GM056 outcrop 0.26
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--------------------------------------------------------------
Hook Lake Zone JR029 boulder 2.50
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Hook Lake Zone GM053 boulder 0.61 1.31
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Hook Lake Zone OM062 boulder 0.25
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Hook Lake Zone OM023 boulder 0.21
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Hook Lake Zone WM044 boulder 0.21 0.38
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Hook Lake Zone DC030 boulder 0.21
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Island Zone GM126 boulder 0.39
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Island Zone OM002 boulder 0.22
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Island Zone WM013 boulder 0.22
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Island Zone WM002 boulder 0.20
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Snyder 1 JR001 boulder 0.25
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Snyder 2 BM016 boulder 0.48
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Snyder 4 GM023 outcrop 0.20
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Snyder 4 WM100 boulder 6.50 4.59
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Snyder 4 GM026 boulder 4.74 3.69
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Snyder 4 GM022 boulder 4.54 1.93
--------------------------------------------------------------
Snyder 4 WM096 boulder 4.01 3.62
--------------------------------------------------------------
Snyder 4 WM097 boulder 3.99 5.53
--------------------------------------------------------------
Snyder 4 GM020 boulder 2.89 3.78
--------------------------------------------------------------
Snyder 4 WM098 boulder 2.89 2.80
--------------------------------------------------------------
Snyder 4 WM103 boulder 2.69 0.21
--------------------------------------------------------------
Snyder 4 GM033 boulder 2.68 4.24
--------------------------------------------------------------
Snyder 4 WM105 boulder 2.45 2.42
--------------------------------------------------------------
Snyder 4 GM029 boulder 2.31 3.32
--------------------------------------------------------------
Snyder 4 WM099 boulder 1.96 3.86
--------------------------------------------------------------
Snyder 4 JR023 boulder 1.31 1.76
--------------------------------------------------------------
Snyder 4 JR024 boulder 1.18 1.56
--------------------------------------------------------------
Snyder 4 WM108 boulder 0.86
--------------------------------------------------------------
Snyder 4 JR026 boulder 0.85 1.28
--------------------------------------------------------------
Snyder 4 WM084 boulder 0.85
--------------------------------------------------------------
Snyder 4 WM095 boulder 0.83 1.34
--------------------------------------------------------------
Snyder 4 WM081 boulder 0.69
--------------------------------------------------------------
Snyder 4 JR028 boulder 0.67
--------------------------------------------------------------
Snyder 4 GM021 boulder 0.65 1.68
--------------------------------------------------------------
Snyder 4 WM080 boulder 0.63
--------------------------------------------------------------
Snyder 4 GM032 boulder 0.57 0.44
--------------------------------------------------------------
Snyder 4 WM094 boulder 0.55
--------------------------------------------------------------
Snyder 4 WM077 boulder 0.47
--------------------------------------------------------------
Snyder 4 WM086 boulder 0.47
--------------------------------------------------------------
Snyder 4 WM078 boulder 0.45
--------------------------------------------------------------
Snyder 4 WM107 boulder 0.45 0.55
--------------------------------------------------------------
Snyder 4 WM101 boulder 0.42 1.13
--------------------------------------------------------------
Snyder 4 WM102 boulder 0.35 0.50
--------------------------------------------------------------
Snyder 4 JR025 boulder 0.33 0.53
--------------------------------------------------------------
Snyder 4 WM083 boulder 0.31
--------------------------------------------------------------
Snyder 4 WM090 boulder 0.31
--------------------------------------------------------------
Snyder 4 JR032 boulder 0.26 0.26
--------------------------------------------------------------
Snyder 4 GM009 boulder 0.26
--------------------------------------------------------------
Snyder 4 JR022 boulder 0.25
--------------------------------------------------------------
Snyder 6 WM142 boulder 0.39
--------------------------------------------------------------
Snyder 6 OM099 boulder 0.20
--------------------------------------------------------------
--------------------------------------------------------------
Snyder 7 WM124 boulder 0.27
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Snyder 10 WM206 boulder 1.08
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Snyder 11 WM193 boulder 0.67
--------------------------------------------------------------
--------------------------------------------------------------
Snyder 13 GM186 outcrop 9.52
--------------------------------------------------------------
Snyder 13 DC173 outcrop 0.42
--------------------------------------------------------------
Snyder 13 DC184 outcrop 0.38
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Snyder 13 GM190 boulder 1.01
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Snyder 13 DM136 boulder 0.66
--------------------------------------------------------------
Snyder 13 GM187 boulder 0.52
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Snyder 13 DC166 boulder 0.50 0.43
--------------------------------------------------------------
Snyder 13 DC169 boulder 0.35
--------------------------------------------------------------
Snyder 13 GM163 boulder 0.29
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Snyder 13 DC181 boulder 0.21
--------------------------------------------------------------
Snyder 13 DC168 boulder 0.21
--------------------------------------------------------------
--------------------------------------------------------------
SW Miller OM009 boulder 0.23
--------------------------------------------------------------
SW Miller WM020 boulder 0.22
--------------------------------------------------------------
SW Miller WM021 boulder 0.21
--------------------------------------------------------------
--------------------------------------------------------------
U Th 1 GM117 boulder 0.56
--------------------------------------------------------------
U Th 1 GM118 boulder 0.34
--------------------------------------------------------------
U Th 1 GM111 boulder 0.27
--------------------------------------------------------------
--------------------------------------------------------------
U Th 2 GM145 outcrop 0.42
--------------------------------------------------------------
U Th 2 GM142 boulder 1.66
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U Th 2 DM107 boulder 1.32
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U Th 2 DM106 boulder 0.34
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U Th 2 DC150 boulder 0.24
--------------------------------------------------------------
--------------------------------------------------------------
U Th 4 WM182 boulder 0.23
--------------------------------------------------------------
These priority areas will be the focus of detailed follow-up exploration
by the Company's field crews in 2006 to establish drill-testing priorities.
This summer, the Company also carried out a 1,905 detailed lake sediment
samplings over the entire licence area. Numerous samples contained over 50 ppm
uranium (regional background as per GSC survey: 5-10 ppm uranium), with a
maximum of 523 ppm uranium. The most anomalous areas correlate well with the
regional distribution of the best prospecting results.
About the Athabasca Basin
The Athabasca Basin hosts a number of major uranium deposits including
Cigar Lake and McArthur River, two of the largest and highest grade uranium
deposits in the world. Production from the Athabasca Basin accounts for over
30% of the world's supply of uranium.
For the past two decades, uranium exploration within the Athabasca Basin
has been at a relatively low level and it is evident that the potential for
the discovery of other deposits remains high. Peter Dasler, President of
CanAlaska, has noted that "Before commencing our staking program, CanAlaska
carried out a comprehensive analysis of existing geological and geophysical
data, and the Company has identified and acquired properties that are well
located and have considerable potential. The results of our airborne surveys
and geophysical/geochemical analyses have produced targets that support this
potential".
The Company and its shareholders are positioned for what CanAlaska
believes will be the largest expansion in uranium exploration since the 1970s.
The qualified person for this release is Peter Dasler, P.Geo, President &
CEO of CanAlaska Ventures Ltd.
About CanAlaska Ventures Ltd.
CanAlaska is a mineral exploration company concentrating on exploration
for uranium in the Athabasca Basin of Saskatchewan, Canada, where the Company
has assembled a large land package (over 1,860,000 acres).
On behalf of the Board of Directors
"signed"
Peter Dasler, President & CEO
CanAlaska Ventures Ltd.
The TSX Venture has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release: CUSIP No. 137089108. This news
release contains certain "Forward-Looking Statements" within the meaning of
Section 21E of the United States Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact, included herein are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time with the British Columbia Securities
Commission and the United States Securities & Exchange Commission.
>>
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CanAlaska Ventures Ltd. - 2006 winter exploration program commences
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