Unlock stock picks and a broker-level newsfeed that powers Wall Street.

Geochemical Assays Confirm Additional High-Grade Unconformity Uranium Mineralization at CanAlaska's Pike Zone

In This Article:

Drillhole WMA082-12 Intersected 17.0 Metres at 10.81% U3O8; Including 10.5 Metres at 17.30% U3O8

Drillhole WMA094-02 Intersected 6.5 Metres at 10.05% U3O8; Including 2.0 Metres at 31.33% U3O8

Saskatoon, Saskatchewan--(Newsfile Corp. - March 18, 2025) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to report that it has received the remainder of the assay results from the summer 2024 drill program completed on the Pike Zone at the West McArthur project (the "Project"). Geochemical assay results confirm an additional high-grade composited unconformity-associated uranium intersection on L85E in WMA082-12 which intersected 17.0 metres at 10.81% U3O8, including 10.5 metres at 17.30% U3O8. In addition, geochemical assay results confirm multiple high-grade composited unconformity-associated uranium intersections on expansion drilling to the west on L0 and L15W. Expansion drilling confirmation results are highlighted by WMA094-02 which intersected 6.5 metres at 10.05% U3O8, including 2.0 metres at 31.33% U3O8 and WMA094-01 which intersected 9.0 metres at 5.54% U3O8, including 3.6 metres at 12.60% U3O8. The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska that holds an 85.97% ownership in the Project (Figure 1). CanAlaska is sole-funding the 2025 West McArthur program and will further increase its majority ownership in the Project as a result.

Figure 1 – Project Location Map

To view an enhanced version of this graphic, please visit:
https:/https://finance.yahoo.com/images.newsfilecorp.com/files/2864/244962_90d485e324dc2a60_002full.jpg

CanAlaska CEO, Cory Belyk, comments, "Assay confirmation of the high-grade uranium mineralization drilled in the summer 2024 program should provide ample evidence to our shareholders that the CanAlaska team has a strong grasp on our radiometric equivalent grade calculations. Final assay results from the summer drill program provide continued confidence in our approach to distribute timely results to market from our high-grade Pike Zone discovery as the drilling programs progress. With three drills currently working, the CanAlaska team remains focused on definition and expansion of this new uranium discovery in the eastern Athabasca Basin located just 20 kilometres from the giant tier-1 McArthur River uranium mine."

Figure 2 – Plan View Showing Confirmed Summer Assay Results

To view an enhanced version of this graphic, please visit:
https:/https://finance.yahoo.com/images.newsfilecorp.com/files/2864/244962_90d485e324dc2a60_003full.jpg