- CanAlaska (CVV) finds new Uranium on Moon Lake South joint venture drilling
- Denison operates the project and CanAlaska holds 25% of ownership
- First and last drillhole of program have been successful in finding uranium
- CanAlaska engaged in ongoing negotiations with Terra Uranium Pty Ltd.
- CanAlaska (CVV) is up by 2.15 per cent and shares are trading at $0.475 as of 2:22 PM EST
CanAlaska’s (CVV) and Denison’s joint venture (JV) drilling finds two new uranium occurrences.
While Denison operates the JV project, CanAlaska holds 25 per cent ownership and funds Denison’s share of the exploration program.
The exploration program is focused on a 5-kilometre long conductive corridor known as CR-3.
The first and the last drillhole of the program were able to find uranium mineralization. This has confirmed the existence of uranium in three separate zones of the length of 4-kilometres.
CanAlaska CEO, Cory Belyk, commented,
“This is an incredible result for the new Moon Lake South JV and CanAlaska shareholders. […] Multiple uranium showings have now been discovered on this project, and the Company looks forward to the next phase of exploration to further build upon this success.”
Additionally, CanAlaska is engaged in ongoing negotiations with Terra Uranium Pty Ltd. regarding the Waterbury East project and McTavish projects.
CanAlaska has also signed a Letter of Intent with Terra Uranium Pty Ltd. to earn 20% interest on their 100%-owned Waterbury South project.
CanAlaska (CVV) is up by 2.15 per cent and shares are trading at $0.475 as of 2:22 PM EST.
