Drilling at the Nisku claims, which lie 7km east of its North Ruttan copper-zinc property in Northern Manitoba, has confirmed another VMS (volcanogenic massive sulphide) target, CanAlaska Uranium Ltd (CVE:CVV) told investors.
This target lies 10km east of the past producing Ruttan copper-zinc massive sulphide mine, which was one of the largest VMS deposits in Canada, the firm noted.
Today's results come from four reconnaissance drill holes.
Canalaska president Peter Dasler said: "It is encouraging to see the same association of copper-gold-silver mineralization as we see in our nearby North Ruttan project.
The North Ruttan VMS zone has always been associated with high gold values, and it is encouraging to see that this system appears to be repeated 7 km to the east.
"Both targets have only been tested to a depth of 150 metres and are now awaiting further infill and deeper drilling."
Drilling intersected massive iron sulphides between surface and 150 metres depth, with elevated copper mineralization in holes NSK001, NSK002 and NSK003, the group said.
Hole NSK004 to the east, intersected volcanics with minor sulphides.
The first three holes showed elevated copper, silver, as well as local gold and arsenic in the volcanics and in sulphidic argillite, it also noted.
Canalaska Uranium holds interests in around 500,000 hectares (1.2 million acres) - one of the largest land positions in Canada's Athabasca Basin region, which is dubbed the "Saudi Arabia of Uranium".
Shares eased 4.65% to stand at $0.41.