CanAlaska Uranium - CEO, Cory Belyk.
CEO, Cory Belyk.
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  • CanAlaska Uranium (CVV) has issued updates on its Manitoba nickel projects, including an option agreement and funding for a magnetic survey
  • The company has signed a staged option agreement with D Block Discoveries to earn a 100 per cent interest in the Manibridge Nickel Project
  • The company has completed first pass exploration targeting the Resting Lake and Halfway Lake nickel projects
  • CanAlaska has also resumed 100 per cent control of the Hunter and Strong nickel projects
  • CanAlaska Uranium is a project generator positioned for discovery success in the world’s richest uranium district
  • CanAlaska Uranium (CVV) is down 1.85 per cent, trading at $0.53 per share

CanAlaska Uranium (CVV) has issued updates on its Manitoba nickel projects, including an option agreement and funding for a magnetic survey.

The company holds 27,372 hectares of claims and mineral exploration licenses within the Thompson Nickel Belt, the 5th largest sulphide nickel district in the world.

Manibridge Nickel Project

A new funding option is now in place at the Manibridge Nickel Project. The company has signed a staged option agreement with D Block Discoveries to earn a 100 per cent interest in the project.

To earn the interest, DBD must undertake work totalling C$4 million, make cash payments totalling $180,000 and issue 6,500,000 common shares, all over a 36-month period.

CanAlaska will operate the project for the first two stages of exploration. The company has received approved exploration permits allowing for phase 1 drilling.

Resting Lake and Halfway Lake nickel projects

CanAlaska has also completed first pass exploration targeting the Resting Lake and Halfway Lake nickel projects. The company ran high resolution airborne magnetic surveys on both projects. The Resting Lake survey received $23,820 in funding through the Manitoba Mineral Development Fund program.

Hunter and Strong nickel projects

The company has also resumed 100 per cent control of the Hunter and Strong nickel projects after completing a termination agreement with Fjordland Exploration. The exploration permitting process simply took longer than CanAlaska predicted, leading the company to return 1,000,000 FEX common shares issued as part of the agreement.

The Hunter and Strong properties have high-priority drill targets associated with historical mineralized drill holes and well-modeled conductor targets associated with the nearby Mel Nickel Deposit. CanAlaska intends to pursue early drill exploration on these projects and is working with the Manitoba government toward a successful permit process outcome.

Cory Belyk, CanAlaska’s CEO, commented,

“I am very pleased with progress made by the team on the Manitoba nickel projects. We continue to do the right deals at the right time with the right partners to advance these projects toward discovery, and we continue to add high-quality projects with our project generator approach delivering ever-increasing opportunity for our shareholders to realize value through discovery. I look forward to new and refined drill targets coming from our recently completed airborne surveys that will set these new projects up for success. CanAlaska looks forward to forming new joint venture partnerships in the Thompson Nickel Belt.”

CanAlaska Uranium is a project generator positioned for discovery success in the world’s richest uranium district.

CanAlaska Uranium (CVV) is down 1.85 per cent, trading at $0.53 per share as of 12:30 pm ET.

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