Canalaska Uranium Ltd (CVV-V: $0.320)
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Kaiser Watch September 8, 2022: Emerging Discovery Plays at MIF
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(0:26:36): Canalaska Uranium has been working in the Athabasca Basin for decades. Why do you think West McArthur is an emerging uranium discovery?
Canalaska Uranium Ltd, headed by CEO Cory Belyk and President Peter Dasler, has made a new high grade uranium discovery at its West McArthur project in Saskatchewan's Athabasca Basin. The junior has assembled an impressive portfolio of projects in the Athbasca Basin since shifting to uranium exploration in 2004. In recent years the focus has been on the West McArthur project onto which the C10 corridor that hosts Cameco's Fox Lake deposit projects. The corridor branches into two conductors, both of which have been drilled in the past decade. But a new geophysical survey in early 2022 revealed that the C10 South conductor at the unconformity was a hundred metres further north than targeted by past drilling. In mid July Canalaska reported a mineralized interval 100 m below the unconformity that assayed 9 metres of 2.4% U3O8 with grade peaking at 6.1%. The immediate implication is a structurally controlled basement hosted Eagle Point style system within an 8 km structure that is effectively untested. The bluesky resides in the potential for a McArthur River scale zone at the unconformity. Two rigs are now working to assess the structural geometry of this new discovery to set the stage for directional drilling in 2023.
Story Path for Canalaska's West McArthur Uranium Project
Map of West McArthur Discovery relative to Fox Lake and McArthur River
Map showing locations of C10 conductors
Drill Core Photo and Section of Discovery Interval
Examples of how basement portion looks for key deposit styles
Outcome Visualization for Arrow Equivalent Discovery Processed at Existing Cameco Mill

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