| Announcement Date: | 2022-08-22 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | CanAlaska Uranium Ltd. |
| Project name: | West McArthur |
| Location: | Canada |
| Commodities: | Uranium |
| Highlight: | Drilling results incl. 9.0m @ 2.4% U3O8 from 906.5m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, Canada, August 22, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQX: CVVUF; Frankfurt: DH7N) (“CanAlaska or the “Company”) is pleased to announce it has received assay results from drill hole WMA067, the first drill hole into a new basement-hosted uranium discovery on the West McArthur project (Figure 1). Geochemical assay results indicate a high-grade intersection of 2.4% U3O8 over 9.0 metres from 906.5 m to 915.5 m, including a higher-grade interval of 3.5% U3O8 over 6.0 metres from 906.5 metres. The Company is continuing its drilling program at the West McArthur project as part of the $5 million 2022 program, focusing its effort on the expansion of this exciting new uranium discovery. The West McArthur project is operated by CanAlaska, which currently holds a 78.00% ownership in the project. Drill hole WMA067 was designed to test a strong conductor anomaly identified during the 2022 winter geophysical program, 6 kilometres along strike to the southwest of the Company’s 42 Zone mineralization (Figure 2). WMA067 penetrated 52.8 metres of overburden followed by Athabasca sandstone to 803.8 metres. The lower 80 metres of the sandstone column is strongly bleached with several fault zones containing limonite alteration and de-silicification. Two major metre-scale fault zones in the basal |
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