Business
CanAlaska Acquires High-Grade Nickel Deposit in Thompson Nickel Belt, Manitoba
Mel Deposit Contains Historical Indicated Resource Estimate of 82.5 Million Pounds Nickel at 0.87...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Acquires High-Grade Nickel Deposit in Thompson Nickel Belt, ManitobaMel Deposit Contains Historical Indicated Resource Estimate of 82.5 Million Pounds Nickel at 0.875% GradeProperty Located Within 25 Kilometres of Vale's Thompson Mine and Mill ComplexVancouver, British Columbia--(Newsfile Corp. - March 6, 2023) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) (\"CanAlaska or the \"Company\") is pleased to announce that B. Riley Farber Inc., in its capacity as Trustee in Bankruptcy of the property, assets and undertakings of Victory Nickel Inc, has accepted CanAlaska's offer to acquire the Mel Nickel Deposit and surrounding mineral claims. The acquisition provides the Company with 100% ownership of the mineral lease that hosts the Mel Deposit, as well as ten mineral claims covering a total of 2,613 hectares in the Thompson Nickel Belt in Manitoba (Figure 1). The Mel project claims are contiguous with the Company's 100% owned Hunter and Strong projects.CanAlaska CEO, Cory Belyk, comments, \"For CanAlaska, the acquisition of the high-grade Mel nickel deposit and its surrounding exploration claims in the north Thompson Nickel Belt region compliments the Company's existing nickel assets perfectly. It provides the Company with a 100%-owned and large nickel resource in the 5th largest sulphide nickel belt in the world near Vale's Thompson operation. This acquisition further positions CanAlaska's district-scale nickel assets, now over 40,000 hectares total, as a front-runner among global nickel exploration portfolio's that will allow the Company to attract outside investment in a strengthening nickel market. New sources of nickel supply are scarce and demand is quickly growing as the world continues to electrify toward a carbon-free energy future.\" Figure 1 – Mel Project Location To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2864/157302_e438232994aef8d2_001full.jpgSTRUCTURE OF THE DEALCanAlaska will acquire 100% of the Mel Deposit lease and surrounding claims by paying CDN$300,000 and issuing 2,000,000 common shares of CanAlaska, subject to TSX Venture Exchange approval. The shares will be subject to a statutory 4 month and a day hold period from the closing date (the \"Hold Period\") under applicable securities laws. In addition, the parti...