CanAlaska Uranium Ltd., an exploration stage company, engages in the acquisition and exploration of mineral properties, principally in Canada. The company primarily explores for uranium, nickel, and diamond properties.
The company holds approximately 249,000 hectares of mining claims in the Athabasca region located across the provinces of Saskatchewan, Manitoba and Alberta in Canada. The holdings are through 16 projects, which are in various stages of exploration and evaluation. The company als...
CanAlaska Uranium Ltd., an exploration stage company, engages in the acquisition and exploration of mineral properties, principally in Canada. The company primarily explores for uranium, nickel, and diamond properties.
The company holds approximately 249,000 hectares of mining claims in the Athabasca region located across the provinces of Saskatchewan, Manitoba and Alberta in Canada. The holdings are through 16 projects, which are in various stages of exploration and evaluation. The company also holds mining claims in British Columbia.
The company’s principal focus has been the exploration for high-grade uranium deposits in the Athabasca Basin area of Saskatchewan and the exploration for copper/nickel in the same region.
Cree East, Saskatchewan
The Cree East project is located in the south-eastern portion of the Athabasca Basin, 35 kilometres west of the formerly producing Key Lake mine and 5 to 22 kilometres north of the south rim of the Athabasca Basin. The project is consisted of 17 contiguous mineral claims totalling approximately 58,000 hectares.
West McArthur, Saskatchewan – Cameco
West McArthur consists of approximately 36,000 hectares of mineral claims in the Athabasca. In 2016, the company entered into an option agreement with Cameco Corporation. In 2018, Cameco Corporation gave notice to acquire its 30% interest on the West McArthur uranium project and the company became the operator of the joint venture.
NW Manitoba, Manitoba - Northern Uranium Corp.
This property consists of approximately 144,000 hectares and lies between 90 and 170 kilometres northeast along the Wollaston trend of basement formations hosting uranium deposits, which include Rabbit Lake, Collins Bay, and Eagle Point Uranium mines.
In 2013, the company entered into an option agreement with Northern Uranium Corp. for an interest in the NW Manitoba project. And in November 2017, Northern Uranium Corp. reported its intention to form a 70/30% joint venture with the company for the NW Manitoba property.
West Athabasca Kimberlite
In March 2020, the company recognized an impairment on its West Athabasca Kimberlite claims.
Moon
In April 2020, the company received notification that Denison (Denison Mines) has met the exploration requirement for the second option and has earned 75% legal and beneficial interest in the Moon project.
In June 2020, the company announced the results of winter field operations by JV operator Denison on the Moon Joint Venture. Denison has completed its option to earn a 75% interest in the property and form the Joint Venture by completing the winter program. The CR-3 conductor is interpreted to be a parallel trend to the K-Zone, host to Denison’s Gyphon deposit on the Wheeler River Project.
Manibridge
In 2019, the company reported final laboratory assays for the high-grade sulphide nickel mineralization intercepted in the winter drill program at Manibridge, Manitoba.
In March 2021, the company announced that it had entered into a Letter of Intent with D Block Discoveries Inc to earn up to 100% interest in the Manibridge Nickel project in Manitoba. D Block Discoveries Inc. may earn up to a 100% interest in the project by undertaking work and payments in three defined earn-in stages.
In June 2021, the company provided an update on its claims and mineral licences within the northern and southern portions of the Thompson Nickel Belt.
Quesnel
In February and March 2020, the company recognized an impairment on certain of its Quesnel claims.
In September 2020, the company announced that it had entered into an option agreement with Omineca Mining and Metals Ltd (Ominica) to allow Omineca to earn a 50% interest in the company’s 100% owned Quesnel porphyry copper project in British Columbia. The Quesnel project is centered on Mouse Mountain, which has a hydrothermal system with copper-gold mineralization spread over a large area associated with typical copper porphyry style alteration.
In October 2020, the company received 300,000 common shares of Omineca pursuant to an option agreement dated August 20, 2020 with Omineca for the Quesnel property.
In January 2021, the company announced that Omineca had commenced diamond drilling at the company’s 100% owned Mouse Mountain porphyry copper-gold project near Quesnel, British Columbia.
Thompson Nickel Belt/Strong
In 2019, the company recognized an impairment on certain of its Thompson Nickel Belt claims.
In February 2020, the company announced that it had entered into a Letter of Interest (LOI) with Fjordland Exploration Inc. to allow Fjordland to earn up to 80% interest in the company’s 100% owned North Thompson Nickel project in Manitoba.
In May 2020, the company announced that it had entered into an option agreement with Fjordland Exploration Inc., which allows Fjordland to earn up to 80% interest in the company’s North Thompson Nickel project in Manitoba. In June 2020, the company received 1,000,000 common shares of Fjordland pursuant to an option agreement dated April 28, 2020 with Fjordland for the Hunter and Strong properties.
In June 2021, the company announced that it had resumed 100% control of the Hunter and Strong nickel projects on termination of the option agreement with Fjordland Exploration Inc. due to unexpected delays in the permitting. Because of the delay, the company and Fjordland mutually agreed to terminate the agreement and the company returned 1,000,000 common shares of Fjordland that was issued as part of the option agreement.
NE Wollaston
In May 2020, the company announced that it has staked 29,671 hectares of land (114 square miles) in four large blocks in the Eastern Athabasca focusing on regional structures, similar to those hosting the nearby high-grade Collins Bay-Eagle Point uranium deposits. The new claim blocks, which are secured for two years, cover defined targets along the interpreted location of the Collins Bay Fault and the Maguire Fault structures.
In May 2020, the company announced that compilation work on the newly acquired NE Wollaston project had identified two significant new uranium targets. The company’s NE Wollaston project extends along the prolific Collins Bay fault system, host to the nearby Tier-1 Rabbit Lake, Collins Bay and Eagle Point uranium mines.
In October 2020, the company announced that it had staked 9,450 hectares of land in two large blocks in the Eastern Athabasca. The new claims focus on the southwest extension of the Maguire regional fault. The NE Wollaston project is an extensive landholding that extends along the prolific Collins Bay fault system, which is host to the nearby Tier 1 Rabbit Lake, Collins Bay and Eagle Point uranium mines.
McTavish
In March 2020, the company staked 1 claim block of 2,209 hectares in Saskatchewan approximately 50 kilometres of the McArthur River Mine.
Alberta Diamond
In March 2020, the company recognized an impairment on certain of its Alberta Diamond claims. In July 2020, the company wrote down its Alberta Diamond property.
Waterbury
In March 2021, the company mobilized drill crews to the Waterbury uranium project to test targets near previously drilled holes, which show significant alteration and uranium values, in proximity to untested geophysical targets. The program will consist of approximately 1,500 metres of drilling in four drill holes.
In April 2021, the company reported that it had curtailed winter drilling on it 100% owned Waterbury uranium project. Late permitting and warming weather conditions hampered activities. Only half of the planned winter program was completed. Three drill holes were completed on the South claim, and none on the East. The focus was to test targets near previously drilled holes, which showed significant alteration, uranium values and untested geophysical targets on both the East and South Waterbury claims.
Resting
In April 2021, the company announced that it had staked several new claim blocks at Resting Lake in the southern Thompson Nickel Belt, near Wabowden, Manitoba. The claims cover and surround known mineralized zones, as well as untested target horizons, south of the Wabowden nickel mines. The new claims cover the majority of the Resting Lake structure, which is a 15-kilometre long synclinorium of Ospwagan Group sediments. The claims cover thirty ultramafic lenses within the prospective Pipe Formation. In the Thompson Nickel Belt, the maximum potential for high-grade nickel mineralization resides in the association of ultramafic and Pipe Formation rocks.
Halfway Lake
During the year ended April 30, 2021, the company staked 8 claim blocks totaling 1,876 hectares in the eastern Athabasca, Manitoba. The claims cover known mineralized nickel zones and are adjacent to the Halfway Lake nickel deposit owned by CaNickel.
In June 2021, the company also completed the first pass exploration targeting on its two newly acquired Resting and Halfway Lake nickel projects.
Other Projects
The company uses its technical staff between field seasons to evaluate other mineral projects for acquisition, either by staking or by option, with the purpose of sale to third parties.
Hunter and Strong, Manitoba
In June 2020, the company received 1,000,000 common shares of Fjordland Exploration Inc. (Fjordland) pursuant to an option agreement dated April 28, 2020 with Fjordland for the Hunter and Strong properties.
Resting, Manitoba
During the year ended April 30, 2021, the company staked 11 claim blocks totaling 2,322 hectares in the eastern Athabasca.
Halfway Lake, Manitoba
During the year ended April 30, 2021, the company staked 8 claim blocks totaling 1,876 hectares in the eastern Athabasca.
Other Projects, Various
Quesnel, British Columbia
In September 2020, the company staked 2 claim blocks totaling 564 hectares in the Quesnel area. In October 2020, the company received 300,000 common shares of Omineca Mining and Metals Ltd. (Omineca) pursuant to an option agreement dated August 20, 2020 with Omineca for the Quesnel property.
Alberta Diamond, Alberta
In July 2020, the company wrote down its Alberta Diamond property.
History
The company was founded in 1985. It was incorporated in May 1985 under the laws of the province of British Columbia, Canada. The company was formerly known as Canadian Gravity Recovery Group Ltd. and changed its name to CanAlaska Resources Ltd. in June 1985 and then to International CanAlaska Resources Ltd. in 1993. Further, the company changed its name to CanAlaska Ventures Ltd. in 1999 and then to CanAlaska Uranium Ltd. in 2006.
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