Business
CanAlaska Announces Aggressive First Quarter 2023 Exploration Plan in Place
Follow-Up $10 Million Exploration Program at High-Grade "Pike Zone" Uranium Discovery on West McA...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Announces Aggressive First Quarter 2023 Exploration Plan in PlaceFollow-Up $10 Million Exploration Program at High-Grade \"Pike Zone\" Uranium Discovery on West McArthur JV ProjectFirst Phase Diamond Drilling Program Planned on Key Extension ProjectVancouver, British Columbia--(Newsfile Corp. - December 14, 2022) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) (\"CanAlaska or the \"Company\") is preparing drill programs at two of its key projects this winter. An aggressive $10 million exploration program for the West McArthur Joint Venture project is scheduled to start at the beginning of January. The 2023 West McArthur drill program will focus on advancing the Company's new high-grade uranium discovery, named the \"Pike Zone\". The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska that currently holds a 79.4% ownership in the project (Figure 1).  Figure 1 – West McArthur Project Location To view an enhanced version of Figure 1, please visit:https://images.newsfilecorp.com/files/2864/147943_71f70c711418bb22_002full.jpgIn addition, the Company is planning a $1 million exploration program on the Key Extension project, located in the southeastern Athabasca Basin. The 2023 Key Extension drill program, planned to begin in February, will focus on phase one exploration of newly defined exploration targets generated through a series of geophysical programs completed in 2022. The Company is completing work on the Key Extension project under an option agreement with Durama Enterprises Limited (\"Durama\"), a private company, which has granted CanAlaska a right to earn up to 100% interest in the project (Figure 2).  Figure 2 – Key Extension Project Location  To view an enhanced version of Figure 2, please visit:https://images.newsfilecorp.com/files/2864/147943_71f70c711418bb22_004full.jpgThe Moon Lake South Joint Venture has approved a $1.1 million exploration program and is planned to start in February of 2023. The program will focus on advancing the five kilometre long CR-3 conductive corridor where uranium mineralization was intersected in drill holes MS-21-02 (0.14% eU3O8 over 0.2 m from 488.5 m) and MS-21-06 (0.12% eU3O8 over 0.2 m from 550.6 m). The Moon Lake South project is a Joint Venture with Denison Mines, the o...