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CanAlaska Approves Moon Lake South JV Supplemental Budget
Priority Geophysical Targets Identified During Winter Exploration Program Drill Program Planne...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Approves Moon Lake South JV Supplemental BudgetPriority Geophysical Targets Identified During Winter Exploration ProgramDrill Program Planned to Commence in SeptemberVancouver, British Columbia--(Newsfile Corp. - August 14, 2024) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) (\"CanAlaska\" or the \"Company\") is pleased to report that the Moon Lake South Joint Venture (\"MLSJV\") has approved a supplemental 2024 exploration budget. The supplemental budget will be used to complete a fall drill program that will test newly identified conductivity anomalies along the mineralized CR-3 Corridor. The CR-3 corridor is host to high-grade uranium mineralization discovered in 2023 in drill hole MS-23-10A (2.46% U3O8 over 8.0 metres). The MLSJV is 75%-owned and operated by Denison Mines Corp. (\"Denison\"), and CanAlaska holds a 25% ownership (Figure 1). CanAlaska is funding the Company's share of the 2024 exploration program.Figure 1 – Moon Lake South Project LocationTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2864/219849_483bf5e0d429e825_001full.jpgCanAlaska CEO, Cory Belyk, comments, \"I am very pleased with results from the winter geophysical program that have highlighted additional untested targets in the vicinity of high-grade mineralization intersected in 2023. The CR-3 corridor is already host to a significant number of mineralized drillholes which highlight its discovery potential. I congratulate our partner, Denison, for outlining additional priority targets and bringing this supplemental budget to the JV for consideration and approval. CanAlaska and its shareholders can look forward to continued news flow from the Moon Lake South JV in the fall.\"Figure 2 – Fall Drill Program Target Area Along CR-3 CorridorTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2864/219849_483bf5e0d429e825_004full.jpg2024 Moon Lake South Fall Exploration ProgramA Stepwise Moving Loop Electromagnetic survey was completed during the winter exploration program that revealed a series of strong conductivity anomalies along the western edge of the CR-3 Corridor on the Moon Lake South property (Figure 2). The CR-3 corridor is host to high-grade perched uranium mineralization discovered in 2023 in drill hole MS-2...