CanAlaska Reports Promising Drill Results from Geikie and Moon Lake South Uranium Projects​​​​​​​​​​​​​​​​ (TSXV: CVV)

Source: CanAlaska Uranium

CanAlaska Uranium (TSXV:CVV) has reported diamond drill results from its partner-operated programs completed during the winter of 2024 on the Geikie and Moon Lake South Projects.

CanAlaska CEO, Cory Belyk, commented in a press release: “Results from the Geikie project are very encouraging and display all the characteristics of an Athabasca Basin basement-hosted uranium deposit fingerprint. The Preston Creek area is starting to favourably respond to our exploration effort and further drilling is clearly warranted. In addition, Denison continues to advance the Moon Lake South Joint Venture toward discovery. The existence of additional mineralization in drill holes along the CR3 corridor hints at its potential to host a uranium deposit.”

The 2024 winter exploration program on the Geikie Project consisted of eight completed diamond drill holes totaling 2,295 metres. The program was designed to follow-up on the success of the 2023 drill program and to test high-priority gravity anomalies identified during the 2023 Airborne Gravity Gradiometer (AGG) survey.

Drilling in the Preston Creek area intersected a wide quartz-rich fault zone showing cataclastic reactivation, intense hydrothermal fluid activity, redox-style alteration, pervasive clay alteration, and localized elevated radiometry. Drill hole observations suggest that the previously identified gravity low in the Preston Creek target area is related to a broad hydrothermal fluid system. This gravity low feature remains untested to the northeast where it extends for approximately 1,500 metres.

Geochemical assay results from the drill program are pending. The Geikie project is currently being fully-funded and operated by Basin Energy Ltd. under an option agreement.

The 2024 winter exploration program on the Moon Lake South Project consisted of eight completed diamond drill holes for a total of 5,634 metres. The program was designed to evaluate the potential to expand the footprint of high-grade uranium mineralization discovered in 2023 drill hole MS-23-10A (2.46% U3O8 over 8.0 metres) and test conductivity anomalies identified from recent ground-based Stepwise Moving Loop Electromagnetic (SWML EM) surveys.

Uranium mineralization was encountered in three of the eight drill holes completed during the winter 2024 program:- MS-24-23 intersected 0.12% eU3O8 over 0.6 metres
– MS-24-25 intersected 0.12% eU3O8 over 0.4 metres
– MS-24-27 intersected 0.08% eU3O8 over 0.2 metres

Geochemical assay results for the 2024 Moon Lake South winter program are pending.

The Moon Lake South project is a Joint Venture with Denison Mines Corp., the operator. CanAlaska currently holds a 25% ownership in the MLSJV and is funding the Company’s share of the 2024 exploration program.

Highlights from the results are as follows:

Moon Lake South Radiometric Equivalent Grade Intervals

Drillhole
Number
From
(m)
To
(m)
Length
(m)
4
Average Grade
(%eU3O8)5,6
MS-24-23 (1) 503.7 504.3 0.6 0.12
MS-24-25 (2) 589.4 589.8 0.4 0.12
MS-24-27 (3) 536.4 536.6 0.2 0.08
  1. MS-24-23 was drilled at an azimuth of 309˚ with an inclination of -63.0˚, collared at 466,702 mE / 6,366,673 mN, 521 m A.S.L. (UTM NAD83 Z13N).
  2. MS-24-25 was drilled at an azimuth of 301˚ with an inclination of -54.5˚, collared at 466,719 mE / 6,366,636 mN, 521 m A.S.L. (UTM NAD83 Z13N).
  3. MS-24-27 was drilled at an azimuth of 313˚ with an inclination of -74.0˚, collared at 467,274 mE / 6,367,414 mN, 521 m A.S.L. (UTM NAD83 Z13N).
  4. All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.
  5. Intersection interval is composited above a cut-off grade of 0.05% eU3O8
  6. Radiometric equivalent (“eU3O8“) derived from a calibrated downhole gamma probe.

 

 

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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