CANALASKA URANIUM LTD

Uranium exploration in twenty-one uranium projects in Canada's Athabasca Basin

Free
Message: CanAlaska Uranium and Kodiak start drilling at McTavish uranium project

CanAlaska Uranium and Kodiak start drilling at McTavish uranium project

posted on Jan 29, 2010 07:12AM

CanAlaska Uranium and Kodiak start drilling at McTavish uranium project

	    VANCOUVER, Jan. 29 /CNW/ - CanAlaska Uranium Ltd. (TSX.V -- CVV)
("CanAlaska" or the "Company") is pleased to announce that Kodiak Exploration
Limited (KXL -- TSX.V) ("Kodiak") has commenced their initial drill program on
the McTavish uranium project ("Project"), situated in the prolific Athabasca
Basin of northern Saskatchewan. Kodiak has been granted an option by the
Company to acquire an initial 50% interest in the Project for $4,000,000 in
exploration, $600,000 of which is to be completed before June, 2010.
Additional interests can be earned by Kodiak, with further work programs or
the definition of uranium resources on the Project (please refer to the
Company News Release of August 10, 2009).

	    Figure 1 (http://www.canalaska.com/i/maps/012910CVV_McTavish_1.pdf)

	    CanAlaska's McTavish Project consists of three separate claim groups
totaling 16,385 hectares, (see Figure 1). One claim group is wholly-enclosed
by Kodiak's West Millennium project, and shows a strong airborne geophysical
anomaly related to conductive rock units, or sandstone alteration. The other
two parcels are intimately intertwined with West Millennium.
	    UTEM data show that the conductors successfully drilled by Kodiak this
past winter at West Millennium extend onto the McTavish property and appear to
intensify.
	    ZTEM survey data also define two other large-scale, high-magnitude
conductors on the McTavish project, both of which are untested by drilling,
(see Figure 2). The combined West Millennium-McTavish property package
comprises nearly 380 km(2) in the heart of the Athabasca Basin, only three
kilometres west of Cameco's Millennium deposit (47M pounds U(3)O(8) with an
average grade of 4.5% U(3)O(8)).
	    Kodiak's drill camp is currently operational, and the first drilling
equipment has now arrived on the Project, for the commencement of a 6,000
metre drill program on CanAlaska's and Kodiak's claims. The first drill target
is located on the D1 conductor on CanAlaska's claims No.S111151 and S111152,
where previous airborne surveys have indicated a large,
structurally-controlled alteration zone, (see Figures 1 and Figure 3 and see
Kodiak News Release of Dec 24, 2009)

	    Prior Kodiak Drilling:

	    In winter 2009, Kodiak drilled three holes adjacent to the CanAlaska
claims. (See Kodiak News Release of May 9, 2009)

	    Figure 2 (http://www.canalaska.com/i/maps/012910CVV_McTavish_2.pdf)

	    WM09-04: This drill hole, located 400 metres from the CanAlaska claim
boundary, was designed to test a very strong EM conductor (D-1) located 200m
NW and up-dip from historic Cameco drill hole CX-11. The hole intersected a 69
metre thick fractured graphitic and pyritic pelite unit. The interval exhibits
strong chlorite and grey clay alteration with local mylonite and fault gouge.
The overlying sandstone is bleached and unusually hematitic. A ten-metre thick
lower sandstone section immediately above the unconformity returned highly
anomalous radioactivity from the down-hole gamma probe with a maximum reading
of 1,174 cps (about 25X background, see below). Individual drill samples
contain up to 0.13% U(3)O(8) uranium and anomalous nickel values within the
highly altered basement rocks. The alteration and mineralization defined along
the D-1 conductor trend shows that a robust uranium mineralizing event has
affected the D-1 conductor structural corridor.

	    WM09-01: Drilled on the D-1 conductor 3.0 kilometres northeast of
WM09-04, encountered a five-metre thick zone of strongly altered graphitic and
pyritic pelite, just below the unconformity, and a strong alteration halo
extending further down-hole for 28 metres with anomalous radioactivity at the
unconformity (5-6 times background). The 20 metre thick lower sandstone
section contains highly anomalous boron up to 722 ppm.

	    WM09-03: This drill hole is also on the D-1 conductor 500 metres along
trend from historic drill hole CX-11. Drill hole three cut a 86 metre wide,
strongly fractured and altered graphitic-pyritic pelite unit containing
fracturing, grey clay and slickensides. The lower sandstone section is
fractured and desilicified for about 100 metres above the unconformity.
Anomalous radioactivity defined by the down-hole logger reaches 751 cps.

	    WM-09-01: Tested the D-1 conductor. The unconformity target was
intersected at 676m with a total depth of 720m. A five-metre wide strongly
altered graphitic pelite occurs from 676m to 681m within a 28m thick highly
altered zone from 776m to 704m.

	    Figure 3 (http://www.canalaska.com/i/maps/012910CVV_McTavish_3.pdf)

	    UTEM data shows that the conductors successfully drilled by Kodiak this
past winter at West Millennium extend onto the McTavish Project and appear to
intensify. Kodiak drill hole WM09-04, which intersected a 69 metre thick
fractured graphitic and pyritic pelite unit containing up to 0.13 % U(3)O(8),
is located only 400 metres from the McTavish property. These drill-hole
intersections of uranium and alteration associated with the significant
sedimentary graphitic rock package underscores the excellent exploration
potential of the Project. CanAlaska is very pleased to be working with Kodiak
on this strategically-located and technically interesting property. Kodiak's
work will allow for immediate exploration of the significant geophysical
features identified by CanAlaska's VTEM airborne surveys, which are observed
on the CanAlaska claim blocks.
	    The Qualified Technical Person for this news release is Peter G. Dasler,
P. Geo.

	    About CanAlaska Uranium Ltd. -- www.canalaska.com

	    CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt)
is undertaking uranium exploration in twenty 100%-owned and three optioned
uranium projects in Canada's Athabasca Basin -- the "Saudi Arabia of Uranium".
Since September 2004, the Company has aggressively acquired one of the largest
land positions in the region, comprising over 2,500,000 acres (10,117 sq. km
or 3,906 sq. miles). To-date, CanAlaska has expended over Cdn$60 million
exploring its properties and has delineated multiple uranium targets.
	    CanAlaska's geological expertise and high exploration profile has
attracted the attention of major international strategic partners. Among
others, Japanese conglomerate Mitsubishi Corporation has undertaken to provide
the Company C$11 mil. in exploration funding to earn a 50% ownership interest
in the West McArthur Project. Exploration of CanAlaska's Cree East Project is
also progressing under a C$19 mil. joint venture with a consortium of Korean
companies led by Hanwha Corporation, and comprising Korea Electric Power
Corp., Korea Resources Corp. and SK Energy Co, Ltd., in which the Korean
Consortium presently holds a 40.6% ownership interest. Other Company projects
in the Athabasca Basin scheduled for drill testing during this Winter 2010
season include McTavish, Collins Bay Extension and Fond Du Lac.

	    <<
	    On behalf of the Board of Directors

	    (signed)
	    Peter Dasler, M.Sc., P.Geo.
	    President & CEO, CanAlaska Uranium Ltd.
	    >>

	    The TSX Venture has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release: CUSIPNo. 13708P 10 2. This news
release contains certain "Forward-Looking Statements" within the meaning of
Section 21E of the United States Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact, included herein are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time with the British Columbia Securities
Commission and the United States Securities & Exchange Commission.






-30-
	    /For further information: Emil Fung, Director & V.P. - Corp. Dev., Tel:
(604) 688-3211, Email: [email protected]/
Share
New Message
Please login to post a reply