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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.

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