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CanAlaska - Denison Mines JV to Drill Moon Lake South
Summer Drill Program Commences September 10 th Focus on 5 km Long Conductor Corridor wi...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska - Denison Mines JV to Drill Moon Lake SouthSummer Drill Program Commences September 10thFocus on 5 km Long Conductor Corridor with Unconformity MineralizationMultiple Priority Targets to be Tested with 2,400 Metre Drill ProgramVancouver, British Columbia--(Newsfile Corp. - September 9, 2021) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (\"CanAlaska\" or the \"Company\") is pleased to announce JV partner Denison Mines Corp. (\"Denison\") will be starting a 2,400 metre summer drilling program at the Moon Lake South JV project (Figure 1). The project is operated by Denison and the 2021 drilling program is scheduled to begin around September 10th. CanAlaska holds a 25% ownership in the project and will fund the Company's share of the 2021 exploration program. Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/2864/95918_31eeea1ce47529a8_001full.jpgIn January 2016, Denison entered into an option agreement with CanAlaska to earn a 75% interest in the Moon Lake South project. The project contains a 5 km long conductor corridor known as the CR-3 conductor (Figure 2), which is located approximately two kilometres west of the K-trend, host to the Gryphon Deposit on Denison's adjacent Wheeler River property. Denison drilled one diamond drillhole (MS-16-01) near the southern boundary of the Moon Lake South project and confirmed the location of a new uranium target. The hole intersected an interval of fractured and friable sandstone with uranium mineralization immediately at the unconformity (0.1% U3O8 over 0.5 m). Associated with the uranium mineralization is alteration in the lower sandstone column consisting of increased bleaching, desilicification, and dark grey pyrite. Additionally, in the basement of MS-16-01, a 0.8 metre-wide graphitic fault zone with evidence for reverse movement was intersected approximately 10 metres below the unconformity. The up-dip projection of this fault to the ideal target at the unconformity is expected to be one of the priority targets for this drill program. In 2017, as follow-up to the positive results in MS-16-01, Denison completed a Titan 24 DC-IP resistivity survey over the conductor corridor and successfully mapped the extension of the trend for five kilometres to the northeast. Denison further advanced the project in 2020, ...