CVD(US:CVV) Newsfileยท2024-09-26 11:30Core Insights - CanAlaska Uranium Ltd. has reported significant high-grade uranium mineralization at the Pike Zone, with notable intersections including 3.88% eU3O8 over 13.2 metres and 23.22% eU3O8 over 2.0 metres [2][4][6] - The summer drill program has confirmed a high-grade footprint extending over 100 metres at the unconformity, indicating potential for additional ultra high-grade uranium zones [2][6][8] - CanAlaska holds an 83.35% ownership in the West McArthur Joint Venture project, which is operated in partnership with Cameco Corporation [2][4] Company Developments - The summer drill program consisted of 15 unconformity tests, with 12 tests at the Pike Zone, 11 of which contained uranium mineralization [5][6] - The company has nearly $12 million in treasury, allowing for the development of the 2025 exploration program and budget [4][14] - CanAlaska is actively engaged in the budget process for the 2025 exploration program, with geochemical assay results from the summer 2024 program pending [14][27] Geological Insights - The Pike Zone's mineralization has a strike length of approximately 200 metres, remaining open in all directions, with the nearest drill hole over 1 kilometre away [6][7] - The drillholes WMA094-1, WMA094-2, and WMA094-3 have confirmed high-grade uranium mineralization associated with graphitic stratigraphy and multiple intervals of unconformity and basement-hosted uranium mineralization [8][19][20] - Additional drillholes along the geophysical target corridor to the east of the Pike Zone have shown encouraging results, indicating structural re-activation along the graphitic stratigraphy [13][22] Future Outlook - The company is focused on following up on the recent drilling results and expanding its exploration efforts in the Athabasca Basin [4][14] - CanAlaska is utilizing a hybrid project generator model, which includes both the acquisition and sale of prospective projects while executing exploration programs on strategic land holdings [27]