Sign up USA
Proactive Investors - Run By Investors For Investors

CanAlaska Uranium confirms more good results at West McArthur project

The hole hit 1.4% of triuranium octoxide equivalent (eU3O8) over 5.1 metres, the group said
CanAlaska Uranium confirms more good results at  West McArthur  project
More positive drill intercepts from CanAlaska Uranium today

CanAlaska Uranium Ltd (CVE:CVV) has unveiled further positive results from the West McArthur uranium project, where drilling is being carried out by partner Cameco Corporation (TSX: CCO; NYSE: CCJ) .

Hole WMA042-2, which is a wedge from mineralized hole WMA042, showed 1.4% of triuranium octoxide equivalent (eU3O8) over 5.1 metres, the group said.

Cameco is carrying out the work as part of an option to earn a 60 % stake in the project.

"Cameco's team has confirmed our expectation of significant uranium mineralization on the C10 conductor," said CanAlaska president Peter Dasler.

"I expect that we will be further rewarded as drilling progresses to the west where historical drill hole EL07 intersected intense silicification which reaches to near surface.

"In the meanwhile we await further drill results from Cameco's drilling which is testing the nearby C10 south conductor."

West McArthur covers 88,536 acres and starts 15km west of Cameco's majority-owned McArthur River uranium mine.

It is immediately adjacent to Cameco's Fox Lake uranium discovery with reported inferred resources of around 68.1 million pounds based on 387,000 tonnes at 7.99% U3O8. 

Shares raced up over 7% in Toronto to C$0.38.

View full CVV profile View Profile

CanAlaska Uranium Ltd Timeline

Related Articles

Gold bars
July 18 2018
The drill results had returned wide zones of mineralisation, the company said
Mark Wilson and Mark Creasy with core sample from Nova-Bollinger
April 15 2018
Mark Creasy, who was behind Sirius Resources when it struck the jackpot at Nova-Bollinger has a 30% stake in the Rockford project and a 28% stake in Legend.
picture of fridges
November 30 2017
Discussions are advanced over acquisitions in both the fluorspar and industrial minerals sector

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use