- CanAlaska Uranium Ltd. (CVV) and Cameco Corporation (CCO) have completed a joint drilling program at the West McArthur uranium project
- The objectives were successfully met with the completion of the six-hole, 5,419 metre drill program in early November
- Based on the positive results of the program, a $5 million exploration program in 2022 has been approved
- This is double the amount of funding for the previous program
- The 2021 program was funded by CanAlaska, increasing the company’s majority interest in the West McArthur project to 75.55 per cent
- Cameco Corporation (CCO) is down 0.77 per cent trading at $28.24 per share as of 1:51 p.m. EST
- CanAlaska Uranium Ltd. (CVV) is up 7.37 per cent trading at $0.51 per share as of 1:52 p.m. EST
CanAlaska Uranium Ltd. (CVV) and Cameco Corporation (CCO) have completed a joint drilling program at the West McArthur uranium project.
The objectives of the drill program were extending the high-grade 42 Zone mineralization.
It also included an evaluation of the southwestern extension of the 42 Zone.
The objectives were successfully met with the completion of the six-hole, 5,419-metre drill program in early November.
Initial probing results included a high-grade intersection.
Based on the positive results of the program, a $5 million exploration program in 2022 has been approved.
This is double the amount of funding for the previous program.
The 2021 program was funded by CanAlaska, increasing the company’s majority interest in the West McArthur project to 75.55 per cent.
At the 42 Zone drilling intersected two areas of mineralization above the unconformity.
The two zones of mineralization are contained within a strongly bleached lower sandstone column that has strong structurally controlled clay alteration.
Due to the strong clay alteration and faulting, very poor core recovery was experienced.
These intersections in WMA063-1 have successfully extended the 42 Zone by 35 metres to the west of the previous high-grade hole WMA055-2.
Evaluation of the conductive corridor was also successful over the extension to the southwest during the 2021 drilling program.
Two drill hole fences evaluated the fault system in three new drill holes.
Along the conductive corridor, these drill holes confirmed that it is strongly altered, both in the basement and sandstone.
Cameco Corporation (CCO) is down 0.77 per cent trading at $28.24 per share as of 1:51 p.m. EST.
CanAlaska Uranium Ltd. (CVV) is up 7.37 per cent trading at $0.51 per share as of 1:52 p.m. EST.