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CanAlaska reports results of Athabasca Basin uranium exploration surveys

EBR Staff Writer Published 23 September 2010

CanAlaska Uranium has reported the preliminary results for summer exploration surveys in the Athabasca Basin on the Collins Bay Extension, Grease River and West McArthur uranium projects and new developments at the Fond Du Lac project.

CanAlaska carried out the detailed waterborne seismic surveys across the target south of Blue Island, which was extended in the shallow offshore area west of the Rabbit Lake Mine, where CanAlaska had previously completed sediment sampling.

This sampling, in Pow Bay, was to test for the source of a uranium boulder train reported to be located south of the bay.

This trend, which also corresponds to features from CanAlaska's winter gravity survey, can be drill-tested with shallow holes during the winter season.

Further offshore, the large airborne Blue Island electromagnetic anomaly matches a rapid change in the bathymetric survey, surrounding the location of CanAlaska drill hole CBX006.

This drill hole identified a 200m faulted offset in the basement rocks, underlain by breccias, and localized uranium mineralization.

Processing of the seismic data, along with integration of historical lake bottom sediment sampling, will commence within the next week.

The Shearika Ridge 'Rossing Style' granite-hosted drill target is approximately 1km in length, and demonstrates high back ground radiometric readings, supported by the assaying of numerous higher grade fractures and shears in the granite.

This summer, detailed mapping of outcrops and historical trenches on the Shearika Ridge prospect was tied into a close-spaced radiometric grid survey in preparation for a diamond drill program in 2010-2011.

The survey used scintillometers and a calibrated gamma spectrometer to estimate uranium values from outcrops across the target area.

The company is awaiting the processing of the results for the recently completed ZTEM survey at the West McArthur project.

This survey is expected to have a bearing on the planning of further detailed ground geophysical surveys and exploration over the 5 year program as agreed between CanAlaska and Mitsubishi.

The company has accelerated its exploration spending and cash and share payments and has concluded its earn-in under the first phase of exploration on the Fond Du Lac project with the Fond Du Lac Denesuline Community.

CanAlaska expects to have multiple drill programs active in the Athabasca Basin commencing in December-January, 2011.