CanAlaska Announces Start of Drill Program at Waterbury East Uranium Project

Core Insights - CanAlaska Uranium Ltd. has announced the initiation of a drill program at the Waterbury East uranium project, which is fully funded by Bayridge Resources Corp. under an option agreement [2][4] - The drill program will focus on high-resolution airborne geophysical targets and historical drilling results, with a planned total of 2,100 meters and 4 to 6 drill holes [3][4] - The Waterbury East project is strategically located 25 kilometers northeast of the Cigar Lake Mine in the northeastern Athabasca Basin, an area known for its uranium deposits [5][8] Company Overview - CanAlaska Uranium Ltd. holds interests in approximately 500,000 hectares in Canada's Athabasca Basin, focusing on high-grade unconformity uranium deposits [8] - The company employs a hybrid project generator model, acquiring and selling prospective projects while executing exploration programs on strategic land holdings [8] - CanAlaska is advancing the Pike Zone discovery on its West McArthur Joint Venture project, attracting partnerships with major mining companies like Cameco Corporation and Denison Mines [8] Project Details - The Waterbury East project consists of one mineral claim covering 1,337 hectares, with approximately 200 meters of Athabasca sandstone cover overlying basement rocks [5][6] - Historical exploration included regional and project-scale geophysical surveys, with previous drilling indicating local uranium enrichment in faulted and altered basement rocks [6] - The recent VTEM survey has identified new targets, suggesting that previous drilling may not have adequately intersected conductive targets [4][6]