VANCOUVER, March 27, 2012 /PRNewswire/ - CanAlaska
Uranium Ltd. (TSX: CVV) ("CanAlaska" or the "Company") is
pleased to announce the commencement of geophysical field work on
its high-potential NW Manitoba
uranium-REE project ("Project").
Exploration on the NW Manitoba Project had been
suspended since 2007 due to consultation meetings between the
Government of Manitoba and local
First Nation communities. With the Government's conclusion of
a consultation protocol and the recent execution of a memorandum of
understanding (MOU) to facilitate co-operation for exploration and
future development between CanAlaska and the Northlands Denesuline
community of Lac Brochet, the
Company is now pleased to announce the recommencement of
exploration work.
For map click here:
http://www.canalaska.com/s/News.asp?ReportID=514641
The Project covers a large area of the
geologically-favourable Wollaston Belt in the Province of
Manitoba, where the uranium-rich
basement rocks associated with the Athabasca uranium deposits intermittently come
to surface. CanAlaska has discovered multiple mineralized zones
with extensive boulder dispersion trains and surface showings of
high-grade uranium (>1% U3O8), rare earths
(REE) and molybdenum mineralization across numerous mineralized
belts, either within, or cutting across all rock types in the
area.
The geological targets across the vast NW
Manitoba Project match the styles of basement mineralization
reported from the massive uranium deposits further south in the
Athabasca Basin. There is clear
observation of late-replacement pitchblende mineralization in vein
zones, fractures and as disseminations in host rocks at uranium
grades exceeding 60% U3O8. There is also
evidence of more disseminated mineralization across stratigraphic
horizons and multitudes of pegmatitic intrusive events, many of
them containing primary uranium mineralization, or with brecciation
and later uranium mineralization. These outcropping targets host
the potential for open pit extraction Preliminary results for many
of these zones were announced by the Company in a news release on
February 28th, 2008.
The current resistivity and gravity geophysical
surveys will be used to localize targets of sulphide-bearing
mineralization, and other zones of clay alteration within areas of
shallow overburden. The survey will concentrate on areas in
the vicinity of current showings and mineralized boulders in
preparation for an initial drill program.
Dr. Karl
Schimann, CanAlaska's VP - Exploration commented: "The
Wollaston Belt of rocks host the majority of the world-class
uranium deposits in the Athabasca
Basin, where massive uranium mineralization has been discovered
under up to 900m of covering sandstone. The advantage of the
NW Manitoba project is that we see
these basement rocks on surface, as any overlying sandstone and
cover rock has previously been stripped-off by ice action.
There are many locations where we have found high-grade uranium
(pitchblende bearing boulders, pebbles and outcrop veins) on
surface. It is very exciting to now be able to plan for the first
drill programs on these surface targets,"
Peter Dasler,
M.Sc., P Geo. is the qualified technical person responsible for
this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX, CVVUF --
OTCBB, DH7F -- Frankfurt) is
undertaking uranium exploration in twenty one 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$75 million exploring its properties and has
delineated multiple uranium targets.
For more information, visit
www.canalaska.com
On behalf of the Board of Directors
"signed"
Peter Dasler,
M.Sc., P.Geo., President & CEO, CanAlaska Uranium
Ltd.
The TSX has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release: CUSIP#
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.
SOURCE CanAlaska Uranium Ltd.
