CanAlaska Uranium: Geared Up to Fill the Demand for Uranium
Focused on uranium in the Athabasca Basin
CanAlaska Uranium holds interests in, approximately 500,000 hectares, one of the largest land positions in Canada’s Athabasca Basin region. Further, the region dubbed the “Saudi Arabia of Uranium”, is home to large, high-grade uranium resources. CanAlaska’s strategic holdings have attracted major international mining companies: Cameco, Denison, KORES, and KEPCO to explore the company’s projects.
“We have large exploration properties and we continue to add to our strategic land position in an area with existing infrastructure in the eastern Athabasca,” says President and CEO, Peter Dasler.
Currently, there’s a demand for uranium to supply nuclear power plants, which are being built right now. “Whether you’re talking about small modular reactors or large-scale reactors, it comes down to diminishing uranium supply. The shortfall right now is moving the price up about 30 percent in 2020,” says Dasler.
The Companies key project, West McArthur, is a joint venture with Cameco. It’s also host to high-grade uranium discovery drill holes. The project is located in the Athabasca Basin in Saskatchewan and lies between 6 and 30 km west of the producing McArthur River mine.
Prior work by Kerr Addison, Cogema, and Cameco includes airborne and ground geophysics, lithogeochemical surveys and lake sediment surveys covering more than half of the property which are documented in some 61 assessment reports. Several EM conductors are present, some of which have been drilled on adjoining ground. CanAlaska has used GIS in compiling these existing datasets and has assimilated them to create a powerful exploration tool.
“Over the next 12 months or so, our shareholders should see the uranium price responding to the current supply shortfalls. Add to that, we expect to be back in the field late this year looking for that major discovery that we got so close to in the past 2 seasons,” says Dasler.
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