CanAlaska Begins Drilling At Fond Du Lac
CanAlaska Uranium Ltd. (TSX.V - CVV) has reported that it has commenced diamond drilling at the main Fond Du Lac (“FDL”) project. This phase of the drill program will test one of the new targets identified by the ongoing reverse circulation drill program.
CanAlaska is currently well-funded, with over Cdn$13 million in treasury, and strong partnerships.
The FDL project is a joint venture between the Company and the Fond Du Lac Denesuline First Nation. The reverse circulation drill, which has been working in the area for the past three weeks, has identified a number of zones with strong hematization both above and below the unconformity. Several of these zones have associated elevated radiometric background as well as clay-filled shear zones.
The diamond drill currently on-site, will carry out a preliminary program testing near surface targets until March 25th. It will then mobilize to carry out approximately 3 weeks of drilling on a nearby project, also being operated by CanAlaska.
The drill will return to Fond Du Lac in April to test further new targets and mineralization associated with the reverse circulation drill program, and CanAlaska’s previous (2009) intersection of 40.4 metres at 0.32% U3O8located in basement rocks, just east of the historically-defined shallow Fond Du Lac uranium deposit.
CanAlaska Uranium Ltd. is undertaking uranium exploration in twenty one uranium projects in Canada’s Athabasca Basin — the “Saudi Arabia of Uranium”. Since September 2004, the Company has aggressively acquired one of the largest land positions in the region, comprising over 2,500,000 acres (10,117 sq. km or 3,906 sq. miles). To-date, CanAlaska has expended over Cdn$75 million exploring its properties and has delineated multiple uranium targets.
Posted March 16, 2011
