CanAlaska Uranium Ltd.
CanAlaska Uranium holds interests in approximately 214,000 hectares (530,000 acres), in Canada's Athabasca basin – the Saudi Arabia of uranium. CanAlaska's strategic properties have previously received major funding by international mining companies Cameco, Denison and De Beers, and Japanese and Korean partners. Exploration programs totaling $5 million in each of 2017 and 2018 by Cameco at CanAlaska's West McArthur Property discovered high-grade uranium mineralization close to Cameco's new Fox Lake uranium deposit. CanAlaska is focused on advancing this high-grade discovery. CanAlaska's project generator business model provides investors with multiple discovery and marketing opportunities through recent work on its uranium and sulphide nickel projects.
Demand for Uranium is predicted to soar amid dwindling supplies.
“CanAlaska has a new high-grade uranium discovery at our West McArthur project, and we have successfully mapped the controlling structures and extended target areas which we believe can host a Tier 1 uranium deposit. We have capitalizing on the demand for energy metals with the purchase of the Manibridge nickel mine and its multiple un-developed nickel zones as well as our success drilling high-grade (9%) sulphide nickel just north of the Manibridge mine." Peter Dasler, President (January 18, 2021)
West McArthur Uranium Project, Saskatchewan
(Grid 5: A Tier 1 Discovery in CanAlaska's Sights)
CanAlaska Uranium Ltd. is focused on a series of uranium discoveries on its West McArthur Project in Canada's Athabasca Basin. The Company operates a Joint Venture project with Cameco Corp. Ten reconnaissance drill holes, spaced over 1.7km (one mile), identified multiple uranium zones and targets. Capping these targets is one of the largest mineralized alteration halos in the eastern Athabasca and at Grid 5 CanAlaska now has evidence for multiple mineralized horizons.
Grid 5 Target Area is located 15 kilometres from Cameco's McArthur River Uranium Mine, the biggest-richest uranium mine in the world. Drilling in summer 2019 focused on the centre of this large target and produced multiple uranium intersections leading to high-grade mineralization (7.95% U3O8) in the final drill hole of the season. Field work in 2020, highlighted the strength of the uranium mineralizing system in this area, as well as further hydrothermal alteration in reconnaissance drill holes located on trend to the south. Here, the key conductive horizons coalesce, along with strong structural deformation. Summer drilling is planned for both target areas.
Advanced Projects for Joint Venture: Uranium, Nickel, Copper & Diamonds
Management and Directors
Ambassador Thomas Graham, Jr., Chairman & Director
One of the world's leading experts in nuclear non-proliferation
Appointed as a member of the International Advisory Board for the nuclear program of the United Arab Emirates in December, 2009
Served under four successive U.S. Presidents as a senior U.S. diplomat for the past 35 years
Peter Dasler, P.Geo., President and CEO, Director
Possesses a comprehensive mineral exploration and public company management background, with over 40 years exploration consulting and business experience
Previously was Mine Manager and Production Manager of Taharoa Ironsand Mine
Dr. Karl Schimann, P.Geo., Vice President Exploration and Director
Previously 20 years with uranium giant AREVA (previously COGEMA) as a Senior Geologist and Project Manager, and member of the exploration team that discovered and developed the giant Cigar Lake uranium deposit in the Athabasca Basin
Cory Belyk, P.Geo., Chief Operating Officer
A geologist with nearly 30 years of experience in exploration and mining operations, project evaluation and business development. His depth of experience is a result of work on a global scale including Asia, Africa, Europe, North America and Australia.
Harry Chan, CGA, Chief Financial Officer
Over 20 years of financial reporting experience in several different industries
Jean Luc Roy, Director
Victor Fern, Director
Honorable Kathleen Kennedy Townsend, Director
Daniel Faure, Advisor
Simon Seto, Advisor
On April 08, 2021, Canalaska Uranium Ltd. has granted incentive stock options to certain directors, officers and consultants of the company to purchase up to an aggregate of 2,475,000 common shares of the company pursuant to the company's share option plan. The options are exercisable for a period of two years at a price of $0.71 per share.
On April 05, 2021, Canalaska Uranium Ltd. reported that Victor Fern has resigned from the Canalaska Uranium Ltd. board to pursue a new community role supporting Cameco and Orano's operations in the Athabasca basin.
On March 30, 2021, CanAlaska Uranium Ltd. announced that it has entered into a Letter of Intent ("LOI") with D Block Discoveries Inc. ("DBD"), a private company wholly owned by Ore Group Inc., to allow DBD to earn up to 100% interest in CanAlaska's 100%-owned 4,368 hectare Manibridge Nickel Project in Manitoba, Canada ("Project").
On March 26, 2021, further to the March 12, 2021, and March 15, 2021, news releases, Canalaska Uranium Ltd. has completed the second and final tranche of its non-brokered private placement. Under the second tranche, the company has issued 1,165,000 flow-through units for gross proceeds of $745,600 and 2,488,800 non-flow-through units for gross proceeds of $1,244,400.
On March 15, 2021, further to Canalaska Uranium Ltd.'s news releases of Feb. 26, 2021, and March 12, 2021, due to increased demand, the company is increasing the total gross amount to be raised under its non-brokered private placement to $3-million.
On March 12, 2021, Canalaska Uranium Ltd. has closed the first tranche of its non-brokered private placement, previously announced on Feb. 26, 2021. Under the first tranche, the company has issued 1.82 million non-flow-through units for gross proceeds of $910,000 and 156,250 flow-through units for gross proceeds of $100,000, for total gross proceeds of $1.01-million.
On March 01, 2021, Canalaska Uranium Ltd. announced that the company mobilizing drill crews to the Waterbury uranium project to test targets near previously drilled holes, which show significant alteration and uranium values, in proximity to untested geophysical targets. The program will consist of approximately 1,500 metres of drilling in four drill holes.
On February 26, 2021, CanAlaska Uranium Ltd. announced that it proposes to undertake a non-brokered private placement of securities to raise total gross proceeds of up to $2,000,000. The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company's exploration properties. The net proceeds received from the sale of the NFT Units will be used for general working capital.
On January 28, 2021, CanAlaska Uranium Ltd. announced that Omineca Mining and Metals Ltd. has commenced diamond drilling at CanAlaska Uranium's 100-per-cent-owned Mouse Mountain porphyry copper-gold project near Quesnel, B.C. A 1,600-metre drilling program will test multiple copper-gold targets along a large 1.5-kilometre zone defined by earlier exploration. Omineca can earn a 50-per-cent interest in Mouse Mountain by incurring 2,000 metres of diamond drilling and issuing 300,000 shares to Canalaska.