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CanAlaska Preparing for Three Separate Drilling Programs
Drill Campaigns Targeting Uranium in Saskatchewan, Nickel in Manitoba, and Copper in British C...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Preparing for Three Separate Drilling ProgramsDrill Campaigns Targeting Uranium in Saskatchewan, Nickel in Manitoba, and Copper in British ColumbiaVancouver, British Columbia--(Newsfile Corp. - November 16, 2020) - CanAlaska Uranium Ltd. (TSXV: CVV) (FSE: DH7N) (\"CanAlaska\" or the \"Company\") is preparing for three separate drill programs over the coming months. Two drill programs will be financed by third-party optionees, one of which will be operated by CanAlaska. Separately, the Company has concluded a Canadian flow-through financing to allow drill testing of shallow exploration targets at its Waterbury properties in the infrastructure-rich Eastern Athabasca Basin.In May the Company completed a $9 million earn-in option agreement with Fjordland Exploration Ltd. for the North Thompson Nickel project (see News Release May 4, 2020). Company staff are currently working with Fjordland and HPX, their main shareholder, to finalize first pass drill testing of a series of near-surface nickel targets. Drill permits have been applied for and final permitting is awaited. CanAlaska is operator of the project for the first two phases of work. From May to October, CanAlaska increased its landholdings in the NE Wollaston area, located in the Eastern Athabasca, progressively staking a total of 39,211 hectares in five large blocks. The acquisitions focused on large, regional structures similar to those hosting the nearby high-grade Collins Bay-Eagle Point uranium deposits (see News Release May 13, 2020 and (News Release October 13, 2020). The new properties cover defined targets along the interpreted location of the Collins Bay Fault and Maguire Fault structures.On September 3, 2020 the Company announced an 50% earn-in option agreement with Omineca Mining and Metals Ltd for its Quesnel porphyry copper project (News Release: September 3, 2020). Drill permits for 2,500 metres of drill testing have been received for the project, and work is expected to commence by the end of 2020. The priority target is an 800 metre-long IP chargeability target which straddles the western slopes of Mouse Mountain, 9km east of Quesnel, British Columbia. Athabasca Basin Drill Programs:CanAlaska has not yet held its exploration program meetings with Cameco Corporation (\"Cameco\") concerning the 2021 West McArthur project work program, but we are a...