Harry Barr, Chairman of CanAlaska stated, "CanAlaska holds one of the largest uranium exploration portfolios in the Athabasca Basin.”
Vancouver, BC (PRWEB via PR Web
Direct) April 22, 2005 -- CanAlaska Ventures Ltd "CanAlaska" (www.canalaska.com) (TSX
Venture: CVV – OTCBB: CVVLF) has received data plots for the "MEGATEM II"
airborne electromagnetic and magnetic survey on its West McArthur
(See news release of March 16, 2005 at: http://www.canalaska.com/s/NewsReleases.asp?ReportID=102606&_Type=News-)
The deep penetrating electromagnetic MEGATEM II survey has been successful in giving the Company detailed information on target zones on its extensive land position west of the McArthur River Uranium deposit. The "unconformity" target in this area is thought to be between 500 and 900 metres in depth, well beyond the penetration depth of previous survey technology, but within the depth capabilities of the MEGATEM II surveys
The survey has produced a series of distinct target zones across the Project. The Company is encouraged by the quality of the data received and the amount of detail now available to plan ground follow-up programs. The full survey identifies six conductive target zones and trends within the project claims. Four of the conductive targets are new, and were not identified by previous work in the area.
The data image for the Megatem II conductors is now available for viewing on the Company's website (See http://www.canalaska.com/s/Projects.asp?ReportID=104237#PageTop. The Company is planning the surface exploration program on the target areas. Surface geophysics is anticipated once the final data has been further interpreted. The summer prospecting work plan includes surface geology mapping, boulder tracing, and trace element soil geochemistry.
In other news, CanAlaska has completed VTEM airborne electromagnetic surveys over its Athabasca Lake property, located immediately south of the Uranium City region. The survey is testing the ability of the VTEM survey equipment to trace conductive horizons south of the lakeshore and under the predicted sandstone cover of the Athabasca basin sequence.
MEGATEM II survey results for the Moon Lake Project area, located approximately 35 km south of the McArthur project area, and 5 km from the Millennium Uranium deposit are being reviewed by the Company's geophysical consultant, S.J. Geophysics Ltd., for detailed recommendations.
The Company is continuing to receive and evaluate service contracts for further airborne surveys on the major properties within the 1,500,000 acres of property in the basin, as well as its outside uranium acquisition program.
This summer the Company intends to carry out ground surveys on a number of projects within the south eastern Athabasca basin, as well as a major surface program on the Charcoal-Hara and Snyder projects located North East of the basin edge, in an area straddling the Saskatchewan-Manitoba provincial border. Previous exploration within this area has indicated high priority radiometric targets for detailed follow-up ground surveys.
CanAlaska Ventures offers a Free Worldwide Uranium Headline News Update. To subscribe go to: http://www.canalaska.com/s/Projects.asp?ReportID=103681.
The Athabasca Basin hosts a number of major uranium deposits including Cigar Lake and McArthur River, two of the largest and highest grade uranium deposits in the world. Production from the Athabasca Basin accounts for 32% of the world's supply of uranium and this is expected to increase by the end of the decade. For the past two decades, uranium exploration within the Athabasca Basin has been at a relatively low level and it is evident that the potential for a discovery of other deposits remains high. CanAlaska's President Mr. Peter Dasler noted that, "before commencing our staking program, CanAlaska carried out a comprehensive analysis taking into account existing geological and geophysical data. As a result, the Company has identified and acquired properties that are well located and have considerable potential".
The Company and its shareholders are now positioned for what CanAlaska believes will be the largest expansion in uranium exploration since the 1970's. Harry Barr, Chairman of CanAlaska, stated, "CanAlaska holds one of the largest uranium exploration portfolios in the Athabasca Basin."
CanAlaska's technical team is progressively developing exploration targets and proposals for each of the projects within the Company's extensive land portfolio.
The qualified person for this release is Peter Dasler, P.Geo, President of CanAlaska Ventures Ltd.
CanAlaska is a mineral exploration company concentrating on the exploration and development of uranium, in North America the Athabasca basin of Saskatchewan. The Company has recently assembled a large land package (over 1,500,000 acres) in the Athabasca Basin for Uranium exploration.
On behalf of the Board of Directors
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release: CUSIP#137089108.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission. Not to be construed as an offer to buy or sell securities of CanAlaska Ventures Ltd.
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Source : http://www.prweb.com/releases/2005/4/prweb232208.htm