5 minute read - Published 09:30 AM EST, Friday September 13
This article was authored by Peyton Baird of witan nook.
CanAlaska Uranium Ltd., a key player in the uranium exploration space, holds a portfolio of strategic projects across the Athabasca Basin, a region famed for its rich uranium deposits. Among its portfolio are five 'core' projects that hold significant potential: West McArthur, Key Extension, Moon Lake South, Waterbury South, and Cree East. These projects, strategically located near major uranium operations, are at the forefront of CanAlaska’s exploration efforts.
West McArthur project: Pike Zone Discovery | CanAlaska Uranium Ltd.
West McArthur: Pike Zone Discovery Elevates Potential
The West McArthur project is a flagship asset in CanAlaska’s portfolio, located just 6 to 30 kilometres west of Cameco’s McArthur River mine, the world’s richest uranium mine. Spanning over $25 million in exploration work, the project has identified seven target areas, with the "Pike Zone" standing out as a major discovery made in 2022.
This high-grade unconformity-hosted uranium discovery is the focus of CanAlaska’s recent efforts. The Pike Zone, located along the C10S conductive corridor, has already yielded impressive results. Drillhole WMA067 intersected 9.0 metres at 2.4% U₃O₈, with additional drill holes returning high-grade intersections, such as WMA072-3, which produced 3.98% U₃O₈ over 2.3 metres. The 2024 drilling program further strengthened the project’s potential, with discoveries of high-grade unconformity-hosted uranium mineralization.
Geologically, the project comprises Archean granitoids and metamorphic rocks from the Lower Proterozoic period. These basement rocks, overlain by Athabasca sandstones and conglomerates, offer both unconformity and basement-hosted uranium mineralization potential. The extensive structures and conductive targets identified make West McArthur a highly promising prospect, comparable to world-class deposits like Cigar Lake and McArthur River.
Key Extension project | CanAlaska Uranium Ltd.
Key Extension: Proximity to Key Lake Boosts Prospects
The Key Extension project, located in the Southeastern Athabasca Basin, sits just 15 kilometres from the past-producing Key Lake mill complex, which has produced over 150 million pounds of U₃O₈. CanAlaska recently secured 100% ownership of the project, further expanding its potential for uranium exploration.
Despite prolonged regional exploration, the project lands have seen minimal drill testing since the 1970s. However, the 2023 exploration program proved pivotal, identifying graphitic structures with basement alteration and uranium enrichment. Over 16 kilometres of conductive stratigraphy were outlined as priority exploration targets, enhancing the project's potential for basement-hosted uranium deposits, similar to McArthur River and Arrow.
The region's geological setting, with basement rocks of Archean granitoids and Lower Proterozoic metamorphic formations, mirrors the characteristics of nearby high-grade uranium deposits. The focus remains on uncovering basement-hosted uranium mineralization, with further exploration programs planned to capitalize on the identified conductive corridors.
Moon Lake South project | CanAlaska Uranium Ltd.
Moon Lake South: Promising Results Along the CR-3 Conductor
CanAlaska holds a 25% stake in the Moon Lake South joint venture with Denison Mines Corporation, a partnership focused on exploring a five-kilometre conductive corridor known as the CR-3 conductor. This corridor is located two kilometres west of the K-trend, home to the Gryphon Deposit on Denison’s adjacent Wheeler River property.
The Moon Lake South project has shown significant promise, with uranium mineralization discovered in multiple drill holes. The winter 2023 drill program was particularly successful, with hole MS-23-10A intersecting 8.0 metres at 2.46% U₃O₈, including 4.5 metres at 3.71% U₃O₈. The follow-up winter 2024 program confirmed additional uranium mineralization along the CR-3 corridor, strengthening the case for further exploration.
With CanAlaska actively participating in the joint venture, Moon Lake South remains a high-priority project with considerable exploration upside. The potential for further discoveries along the CR-3 conductor underscores the significance of this project within CanAlaska’s portfolio.
Waterbury South project | CanAlaska Uranium Ltd.
Waterbury South: Polymetallic Uranium Mineralization Near Cigar Lake
Located just 10 kilometres from the Cigar Lake mine site, the Waterbury South project is positioned near the Rabbit Lake–Collins Bay fault system, known for hosting significant uranium mineralization. This proximity has made the project a target for polymetallic unconformity-hosted uranium deposits, with the added potential for nickel, cobalt, and arsenic enrichment.
Historical exploration by companies like Noranda, Cameco, and SMDC laid the groundwork for CanAlaska’s efforts. The 2022 drilling program revealed a complex structural network associated with sandstone and basement alteration halos. One of the standout drill holes, WAT009, intersected polymetallic mineralization, including 2.42% nickel, 2.34% arsenic, and 0.5% zinc, alongside 405 ppm uranium. This multi-metal mineralization points to the possibility of discovering a large polymetallic uranium deposit.
Waterbury South’s geology, consisting of Athabasca sandstones overlying Wollaston supercrustal basement rocks, is highly prospective for both unconformity and basement-hosted uranium mineralization. As CanAlaska continues its exploration efforts, the project holds the potential to mirror the success of nearby Cigar Lake and McArthur River deposits.
Cree East project | CanAlaska Uranium Ltd.
Cree East: A High-Priority Unconformity Uranium Target
Situated 35 kilometres west of the Key Lake mine, the Cree East project covers over 56,000 hectares and is considered a high-priority target for unconformity uranium mineralization. The project has attracted significant investment, with over $19 million spent by a previous Korean partnership, and it remains one of CanAlaska’s most promising properties.
Exploration efforts have focused on nine target areas, with substantial geophysical surveys and drilling programs conducted since the early 2000s. The 2008 and 2009 drill programs produced encouraging results, with several drill holes showing uranium enrichment and extensive hydrothermal alteration. One standout result was observed in Area B, where intense alteration zones, rehealed breccia, and pyrite impregnations were encountered, extending from below the unconformity to near the surface.
Cree East’s geology, characterized by Athabasca Group conglomerates and sandstones overlying Proterozoic basement rocks, is highly prospective for unconformity-style uranium deposits. The presence of numerous conductors and faults, coupled with past exploration success, makes Cree East a significant project for CanAlaska’s future uranium discoveries.
The Athabasca and Beaverlodge Districts | science.gc
CanAlaska’s Strategic Focus on High-Grade Uranium Deposits
CanAlaska Uranium Ltd. has strategically positioned itself in the Athabasca Basin, one of the world’s premier uranium-producing regions. Its core projects—West McArthur, Key Extension, Moon Lake South, Waterbury South, and Cree East—represent a diverse and highly prospective portfolio, each with its own unique geological setting and exploration potential.
From the high-grade Pike Zone discovery at West McArthur to the promising polymetallic mineralization at Waterbury South, CanAlaska continues to make significant strides in its exploration efforts. As global demand for uranium grows, driven by the need for clean energy, CanAlaska’s projects hold the potential to contribute significantly to the next generation of uranium production. With continued exploration and development, the company is well-positioned to unlock substantial value from its core uranium assets.
This article was authored by Peyton Baird of witan nook.
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