Last C$0.17 CAD
Change Today -0.015 / -8.11%
Volume 25.7K
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canalaska uranium ltd (CVV) Snapshot

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03/6/14 - C$0.26
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10/15/14 - C$0.08
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canalaska uranium ltd (CVV) Details

CanAlaska Uranium Ltd., an exploration stage company, acquires and explores mineral properties primarily in Canada. It primarily explores for uranium deposits. The company owns interests in 19 projects covering an area of approximately 698,000 hectares. Its principal projects include the West McArthur project covering an area of approximately 36,000 hectares located in the Athabasca Basin, Saskatchewan; and the Cree East project comprising 17 mineral claims that cover an area of approximately 58,000 hectares located in the south-eastern portion of the Athabasca Basin. The company was formerly known as CanAlaska Ventures Ltd. and changed its name to CanAlaska Uranium Ltd. in October 2006. CanAlaska Uranium Ltd. was founded in 1985 and is headquartered in Vancouver, Canada.

Founded in 1985

canalaska uranium ltd (CVV) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$120.0K
Chief Financial Officer
Total Annual Compensation: C$100.0K
Compensation as of Fiscal Year 2014.

canalaska uranium ltd (CVV) Key Developments

Canalaska Uranium Ltd. Provides Update on Current Exploration Being Carried Out Under 70% Option Earn-In by Northern Uranium

CanAlaska Uranium Ltd. updated shareholders on current exploration being carried out under a 70% option earn-in by Northern Uranium Corp. The focus of the company is on the Maguire structural zone, with its large coincident radon-gravity-resistivity targets. Previous work by the company located hydrothermal alteration with uranium mineralization in bedrock stringers and in high grade uranium pebbles in down-ice dispersion patterns. The current drilling commenced with drill holes 7 and 8 on the northern of three local targets. This drilling from land tested the western edge of the anomaly, but did not intercept the main combined resistivity-gravity target. Drill hole 9, 1.1km to the south is located in the centre of an 800 x 400 metre gravity anomaly which reaches - 1 milligal intensity. The clay alteration in hole 9 is compatible with such an anomaly, as well as with the DC resistivity low which coincides with the core of the gravity anomaly. Uranium-mineralized boulders occur in the till down ice from this gravity and resistivity anomaly including a sample of massive pitchblende (66% U3O8). This vertical drill hole was completed to 176 metres depth. The drill hole intersected a sub-vertical sequence of alternating marble and dirty quartzite or siliceous calc-silicate. The alteration starts near surface as one metre sections of sheared clay altered rubble and soft rock. Shearing and alteration increase in frequency downward and by 95 metres the clay alteration becomes pervasive and most of the rock is soft. Patches of earthy red hematite become frequent below 120 metres. Below 135 metres only a mix of sand and clay was recovered. About 35 metres of core was lost between 134 and 174 metres. Due to a drilling problem, the hole could not be tested with a down-hole gamma probe and thus the possibility remains that uranium mineralization occurs below the recovered core even if no significant results were obtained from these samples. The handheld spectrometer however does show an increase in radioactivity below 120 metres with four spikes between 86 metres and end of hole. The alteration pattern in hole 9 is typical of the intense hydrothermal systems hosting Athabasca unconformity uranium deposits. Further drilling is required on this significant hydrothermal system with a series of angle holes to test the zone of lost core and produce a fence across the centre of the gravity anomaly. Parallel fences north and south of hole 9 are also warranted. Drill holes 7 and 8 tested the edge of another similar, but larger, gravity anomaly, outside of the coinciding DC resistivity low. They intersected a sequence of pelitic to semi-pelitic rocks alternating with white pegmatite/granite. Sections of clay/chlorite alteration, some with hematite occur, but are not as frequent and as intense as in hole 9. This suggests that a similar hydrothermal system is present but that holes 7 and 8 are within its outer margins.

CanAlaska Uranium Ltd. Provides Update on Exploration Programs

CanAlaska Uranium Ltd. reported on a series of activities on its uranium projects, as well as upcoming initiatives to take advantage of the current resurgence of interest in uranium commodities. Exploration Underway at Patterson Lake and NW Manitoba: CanAlaska is anticipating exploration news from two of its exploration projects in the Athabasca Basin region. Makena Resources has resumed work on the Company's Patterson Lake property, and Northern Uranium has restarted drilling at the NW Manitoba project. The Patterson Lake project is strategically located adjacent to the PLS project of Fission Uranium and the Patterson Lake North project of Fission 3.0. Initial exploration conducted in 2014 at the Patterson Lake property revealed multiple conductive anomalies. The basement within these zones is relatively shallow at approximately 154 metres. At the NW Manitoba property, core drilling has commenced to evaluate a number of gravity and resistivity targets. These known targets were confirmed and expanded by Northern Uranium, the operator of the project, as part of their $3 million exploration on the project the past 12 months. The exploration program also highlighted strong adjacent and coincident radon targets. CanAlaska has received 2.5 million commons shares and 1.25 million common warrants of Northern Uranium which has the option to spend a further $2.8 million to earn an additional 20% interest in the project from CanAlaska. The Company is eagerly awaiting drill results from the property.

CanAlaska Uranium Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended October 31, 2014

CanAlaska Uranium Ltd. announced unaudited consolidated earnings results for the second quarter and six months ended October 31, 2014. For the quarter, net loss was CAD 352,000 or CAD 0.02 per basic and diluted share against CAD 65,000 for the same period a year ago. For the six months, net earnings were CAD 1,034,000 or CAD 0.05 per basic and diluted share against net loss of CAD 399,000 or CAD 0.02 per basic and diluted share for the same period a year ago. Cash flows used in operating activities was CAD 860,000 against CAD 359,000 a year ago. Additions to mineral property interests was CAD 10,000 against CAD 7,000 a year ago.


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