CanAlaska Uranium Ltd. (TSXV: CVV, OTCQX: CVVUF, FSE: DH7) has officially launched its drilling operations at the Key Extension project in the southeastern region of the Athabasca Basin. This initiative aims to explore high-priority targets identified through recent advanced airborne geophysical surveys and thorough analyses of prior drilling activities.
The Key Extension project is wholly owned by CanAlaska and is located approximately 15 kilometers south of the historically significant Key Lake Mine and the currently operational Key Lake Mill.
The drilling program seeks to uncover new uranium deposits in a region that has seen limited exploration for basement-hosted uranium.
Table of Contents:
The facts
During the winter season of, CanAlaska plans to deploy a single diamond drill to execute between 8 and 12 drill holes. The focus will be on areas previously identified as high-priority targets based on the latest airborne geophysical surveys and insights from historical drilling efforts.
Target areas and geophysical insights
The drilling will target a series of long-linear magnetic low corridors believed to be associated with high conductivity zones. These features are thought to extend from the Key Lake Mine to CanAlaska’s Key Extension and Nebula projects. The magnetic lows and corresponding conductivity highs indicate the presence of graphitic metasedimentary rocks within the lower Wollaston Domain, an area known for significant uranium deposits.
Key areas of focus include:
- Up-Ice of the Orchid Lake Boulder Field: Drilling will assess the conductive stratigraphy along the western trend situated up-ice of the radioactive Orchid Lake boulder field.
- Western Conductive Trend: This area spans over 10 kilometers and has been largely underexplored. Geophysical data suggests several conductor-parallel fault zones that present strong potential for uranium deposits.
- Follow-Up on Historical Drilling: Drilling will also investigate areas near previously drilled holes KEY001, KEY002, and KEY003, which have shown promising signs of uranium mineralization.
- Eastern Conductive Trend: This region, stretching over 5 kilometers, remains largely untested and is viewed as a high-priority target.
Strategic importance and market context
CanAlaska’s CEO, Cory Belyk, expressed enthusiasm about the start of this drilling program, emphasizing its proximity to the Key Lake Mine and Mill complex. He noted that the region has not been extensively explored for basement-hosted uranium deposits, and preliminary results from earlier drilling efforts were encouraging.
The current climate of the uranium market is notably favorable, with prices nearing US$100 per pound. This backdrop enhances the urgency for CanAlaska to discover and delineate new high-grade uranium deposits within the southeastern Athabasca Basin.
Technical insights and historical context
It is important to note that the historical data referenced in this announcement comes from the Saskatchewan Mineral Assessment Database and may not be exhaustive. Management has cautioned that previous results reported by other operators have not been verified by a Qualified Person. However, these results provide a scientific foundation for ongoing exploration efforts.
All depths mentioned refer to drill hole depths and intervals, and actual mineralization thicknesses have yet to be determined. CanAlaska remains committed to leveraging its expertise and resources to ensure a successful drilling season.
About CanAlaska Uranium Ltd.
CanAlaska is a prominent player in the uranium exploration landscape within the Athabasca Basin of Saskatchewan, Canada. The company operates under a project generator model, maintaining a vast portfolio of approximately 500,000 hectares of uranium properties. Their focus is on identifying both basement and unconformity-related uranium deposits.
The Key Extension project is wholly owned by CanAlaska and is located approximately 15 kilometers south of the historically significant Key Lake Mine and the currently operational Key Lake Mill. The drilling program seeks to uncover new uranium deposits in a region that has seen limited exploration for basement-hosted uranium.0
