CanAlaska Announces Start of Drill Program at the Constellation Uranium Project
CanAlaska Uranium (OTCQX: CVVUF) has commenced its first-ever drill program at the Constellation uranium project in Saskatchewan's Athabasca Basin. The program, fully funded by Bayridge Resources under an option earn-in agreement, will consist of 3-4 drill holes totaling 1,100-1,400 metres.
The project, located 60 kilometers south of the Key Lake Mine, was identified through VTEM surveys and ground prospecting, which revealed significant uranium anomalies in two target areas. Target Area B showed the highest uranium concentration of 488 ppm, while Target Area A recorded up to 52.5 ppm. The property shows favorable geology for basement-hosted uranium deposits, with strong electromagnetic conductors that have never been drill tested.
Under the agreement, Bayridge Resources could invest up to $5 million in exploration expenditures on the project.CanAlaska Uranium (OTCQX: CVVUF) ha avviato il suo primo programma di perforazione presso il progetto uranio Constellation nella regione di Athabasca Basin, Saskatchewan. Il programma, interamente finanziato da Bayridge Resources nell'ambito di un accordo di opzione earn-in, prevede 3-4 fori di perforazione per un totale di 1.100-1.400 metri.
Il progetto, situato a 60 chilometri a sud della miniera Key Lake, 猫 stato individuato tramite rilevamenti VTEM e prospezione sul terreno, che hanno evidenziato significative anomalie di uranio in due aree target. L'Area Target B ha mostrato la concentrazione di uranio pi霉 alta con 488 ppm, mentre l'Area Target A ha registrato fino a 52,5 ppm. La propriet脿 presenta una geologia favorevole per depositi di uranio ospitati nel basamento, con forti conduttori elettromagnetici mai testati con perforazioni.
Secondo l'accordo, Bayridge Resources potrebbe investire fino a 5 milioni di dollari in spese di esplorazione sul progetto.
CanAlaska Uranium (OTCQX: CVVUF) ha iniciado su primer programa de perforaci贸n en el proyecto de uranio Constellation en la Cuenca de Athabasca, Saskatchewan. El programa, financiado en su totalidad por Bayridge Resources bajo un acuerdo de opci贸n earn-in, consistir谩 en 3-4 perforaciones que suman entre 1,100 y 1,400 metros.
El proyecto, ubicado a 60 kil贸metros al sur de la mina Key Lake, fue identificado mediante estudios VTEM y prospecci贸n terrestre, que revelaron anomal铆as significativas de uranio en dos 谩reas objetivo. El 脕rea Objetivo B mostr贸 la concentraci贸n m谩s alta de uranio con 488 ppm, mientras que el 脕rea Objetivo A registr贸 hasta 52.5 ppm. La propiedad presenta una geolog铆a favorable para dep贸sitos de uranio alojados en el basamento, con fuertes conductores electromagn茅ticos que nunca han sido perforados.
Seg煤n el acuerdo, Bayridge Resources podr铆a invertir hasta 5 millones de d贸lares en gastos de exploraci贸n en el proyecto.
CanAlaska Uranium (OTCQX: CVVUF)臧� 靷姢旃挫稊鞕� 鞎犾劀氚办姢旃� 攵勳鞐� 鞙勳箻頃� Constellation 鞖半澕電� 頂勲鞝濏姼鞐愳劀 觳� 氩堨Ц 鞁滌稊 頂勲攴鸽灗鞚� 鞁滌瀾頄堨姷雼堧嫟. 鞚� 頂勲攴鸽灗鞚� 鞓奠厴 鞚胳垬 瓿勳暯鞐� 霐半澕 Bayridge Resources臧� 鞝勳暋 鞛愱笀鞚� 歆�鞗愴晿氅�, 齑� 1,100~1,400氙疙劙鞐� 瓯胳箿 3~4臧滌潣 鞁滌稊瓿�鞙茧 甑劚霅╇媹雼�.
鞚� 頂勲鞝濏姼電� Key Lake 甏戩偘鞐愳劀 雮鞙茧 60韨氙疙劙 霒柎歆� 瓿�鞐� 鞙勳箻頃橂┌, VTEM 臁办偓鞕� 歆�靸� 韮愳偓毳� 韱淀暣 霊� 臧滌潣 韮�瓴� 歆�鞐棎靹� 鞙犾潣氙疙暅 鞖半澕電� 鞚挫儊 鞁犿樃臧� 頇曥澑霅橃棃鞀惦媹雼�. 韮�瓴� 歆�鞐� B電� 488 ppm鞙茧 臧�鞛� 雴掛潃 鞖半澕電� 雴嶋弰毳� 氤挫榾瓿�, 韮�瓴� 歆�鞐� A電� 斓滊寑 52.5 ppm鞚� 旮半頄堨姷雼堧嫟. 鞚� 攵�歆�電� 旮办爛攵�鞐� 鞙勳箻頃� 鞖半澕電� 甏戩儊鞐� 鞝來暕頃� 歆�歆堨潉 臧�歆�瓿� 鞛堨溂氅�, 歆�旮堦箤歆� 鞁滌稊霅橃 鞎婌潃 臧曤牓頃� 鞝勳瀽旮� 鞝勲弰觳搓皜 臁挫灛頃╇媹雼�.
瓿勳暯鞐� 霐半澕 Bayridge Resources電� 鞚� 頂勲鞝濏姼鞐� 斓滊寑 500毵� 雼煬旯岇 韮愳偓 牍勳毄鞚� 韴瀽頃� 靾� 鞛堨姷雼堧嫟.
CanAlaska Uranium (OTCQX : CVVUF) a lanc茅 son tout premier programme de forage sur le projet d'uranium Constellation dans le bassin d'Athabasca en Saskatchewan. Ce programme, enti猫rement financ茅 par Bayridge Resources dans le cadre d'un accord d'option earn-in, comprendra 3 脿 4 trous de forage totalisant entre 1 100 et 1 400 m猫tres.
Le projet, situ茅 脿 60 kilom猫tres au sud de la mine de Key Lake, a 茅t茅 identifi茅 gr芒ce 脿 des relev茅s VTEM et 脿 de la prospection au sol, qui ont r茅v茅l茅 d'importantes anomalies d'uranium dans deux zones cibles. La zone cible B a pr茅sent茅 la concentration la plus 茅lev茅e d'uranium avec 488 ppm, tandis que la zone cible A a enregistr茅 jusqu'脿 52,5 ppm. La propri茅t茅 pr茅sente une g茅ologie favorable aux gisements d'uranium h茅berg茅s dans le socle, avec de puissants conducteurs 茅lectromagn茅tiques jamais test茅s par forage.
Selon l'accord, Bayridge Resources pourrait investir jusqu'脿 5 millions de dollars en d茅penses d'exploration sur le projet.
CanAlaska Uranium (OTCQX: CVVUF) hat sein erstes Bohrprogramm beim Constellation Uranium-Projekt im Athabasca-Becken in Saskatchewan gestartet. Das Programm, das vollst盲ndig von Bayridge Resources im Rahmen einer Option-earn-in-Vereinbarung finanziert wird, umfasst 3-4 Bohrl枚cher mit einer Gesamtl盲nge von 1.100-1.400 Metern.
Das Projekt, das 60 Kilometer s眉dlich der Key Lake Mine liegt, wurde durch VTEM-Untersuchungen und Gel盲ndesondierungen entdeckt, die bedeutende Urananomalien in zwei Zielgebieten aufzeigten. Zielgebiet B wies die h枚chste Uran-Konzentration von 488 ppm auf, w盲hrend Zielgebiet A bis zu 52,5 ppm verzeichnete. Das Grundst眉ck zeigt eine g眉nstige Geologie f眉r im Grundgebirge vorkommende Uranlagerst盲tten mit starken elektromagnetischen Leitern, die bisher nie durch Bohrungen getestet wurden.
Gem盲脽 der Vereinbarung k枚nnte Bayridge Resources bis zu 5 Millionen US-Dollar in Erkundungsausgaben f眉r das Projekt investieren.
- First-ever drill program commencing on a strategic location near Key Lake Mine
- High uranium concentration discovered (488 ppm) in Target Area B
- Project is fully funded by partner Bayridge Resources
- Potential $5 million in exploration expenditures from partnership agreement
- Project is in early exploration stage with no proven resources
- Limited sample data available from only surface prospecting
Modern Airborne VTEM Survey and Ground Prospecting Programs Highlighted New Target Areas
Drill Program is Fully Partner-Funded Under an Option Earn-In Agreement
Saskatoon, Saskatchewan--(Newsfile Corp. - July 21, 2025) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce commencement of the 2025 drill program on the Constellation uranium project (the "Project"). The 2025 Constellation drill program will focus on newly developed high-resolution airborne geophysical targets in combination with ground prospecting results. The drill program represents the first ever drill program on the Project. The Constellation Project is located in the southeastern Athabasca Basin 60 kilometres south of the Key Lake Mine and Mill Complex and covers 11,142 hectares (Figure 1). The drill program is currently being sole-funded by Bayridge Resources Corp. (CSE: BYRG) under an option earn-in agreement with the Company.
Figure 1 – Project Location Map
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2025 Constellation Exploration Program
The planned 1,100 - 1,400 metre drill program will consist of 3 to 4 drill holes testing multiple targets. Target areas have been generated based on the results from a recently completed helicopter-supported Versatile Time-Domain Electromagnetic (VTEM) survey and ground prospecting program on the Project. The VTEM survey identified and prioritized basement conductors, producing a series of high-priority drill targets. The ground prospecting program was highlighted by elevated uranium anomalies in two target areas (Figure 2).
Figure 2 – Ground Prospecting and VTEM Survey Results
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The Constellation property has favourable geology for basement-hosted uranium deposits. Strong electromagnetic conductors are proven targets associated with unconformity and basement-hosted uranium mineralization in and around the Athabasca Basin. The recently confirmed VTEM conductors on the Constellation Project have never been drill tested. The Company believes the competency contrast of the electromagnetic conductors against the large rigid Archean granite inlier on the Project creates the potential for post-Athabasca structural reactivation. This structural reactivation can create important conduits for the movement of uranium-bearing hydrothermal fluids that interact with graphitic structural zones which may lead to favourable traps and the potential for uranium deposition.
CanAlaska CEO, Cory Belyk, comments, "The Constellation project is a product of CanAlaska's ongoing project generator efforts. This project was staked in an area with geological attributes considered important for significant uranium deposition similar to Cameco's Eagle Point Mine and NexGen's Arrow deposits. I look forward to results from the first drillholes ever completed on this project that is very strategically located just 60 kilometres south of the Key Lake Mill."
The Constellation project is currently being sole-funded by Bayridge Resources Corp (CSE: BYRG) under an option earn-in agreement with the Company that could see up to
Ground Prospecting and Mapping Results
Target Area A - Prospecting and mapping results within Target Area A highlight a priority trend that contains multiple samples with elevated uranium concentrations correlating with mapped structural trends. The maximum uranium value within this trend was 52.5 ppm and is hosted in pegmatites conformable to the regional structural fabric.
Target Area B - Prospecting and mapping results within Target Area B are highlighted by the highest uranium concentration from the prospecting program on the Project with a value of 488 ppm. The host rock within this target area consists primarily of psammitic to pelitic gneisses exhibiting pervasive hematite alteration that is locally associated with thin quartz bands. The gneisses, conformable to the regional structural trend, were intruded by a radiometrically elevated granite intrusion. The prospecting results within this target area directly overlie an interpreted VTEM conductor.
Geochemical Sampling Procedures
All rock chip samples were delivered to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), and boron by fusion. Geochemical grab samples were collected from outcrops or sub-crop and assigned to geostations. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats were inserted into the sample stream at regular intervals by TerraLogic and the SRC in accordance with Bayridge's quality assurance / quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by CanAlaska prior to disclosure.
CanAlaska cautions investors that grab samples are select samples by their nature and may not necessarily be indicative of similar mineralization on the property.
About CanAlaska Uranium
CanAlaska is a leading explorer of uranium in the Athabasca Basin of Saskatchewan, Canada. With a project generator model, the Company has built a large portfolio of uranium projects in the Athabasca Basin. CanAlaska owns numerous uranium properties, totaling approximately 500,000 hectares, with clearly defined targets in the Athabasca Basin covering both basement and unconformity uranium deposit potential. The Company has recently concentrated on the West McArthur high-grade uranium expansion with targets in 2024 leading to significant success at Pike Zone. Fully financed for the upcoming 2025 drill season, CanAlaska is focused on Tier 1 Uranium deposit discovery and delineation in a safe and secure jurisdiction. The Company has the right team in place with a track record of discovery and projects that are located next to critical mine and mill infrastructure.
The Company's head office is in Saskatoon, Saskatchewan, Canada with a satellite office in Vancouver, BC, Canada.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and DirectorCanAlaska Uranium Ltd.
Contacts:
| Cory Belyk, CEO and President | General Enquiry |
| Tel: +1.306.668.6900 | Tel: +1.306.668.6915 |
| Email: [email protected] | Email: [email protected] |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Actual events or results may differ materially from those projected in the forward-looking statements and the Company cautions against placing undue reliance thereon. The Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
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FAQ
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