CanAlaska Uranium has symbol CVV on the TSX Venture Exchange.
In May 2016, CanAlaska announced a separate deal on another of its properties with another big name in mining. That agreement is with De Beers Canada to explore for diamonds in Saskatchewan’s northwestern Athabasca basin.
Exploration in the area is focused on uranium, and until now has not been thought of as suitable for diamond mining. But after examining a high-resolution, airborne geophysical survey carried out by the Saskatchewan Geological Survey in 2011, De Beers thinks that a series of magnetic anomalies could indicate the presence of 75 kimberlite targets—a solidified magma that flows to the surface from deep within the earth’s mantle, lifting diamonds from far below the surface.
Until January 2016, CanAlaska Uranium had another joint venture agreement with Mitsubishi Corp. in place for its West McArthur project in the Athabasca basin. Under the terms of that deal, the Japanese company would receive 50% interest in the property for its investment of $14.4 million in exploration spending. However, Mitsubishi pulled out by selling its interest to CanAlaska in exchange for $600,000 and a 1% royalty arrangement.
In February 2016, Canadian major Cameco chose to option the property, which sits 15 kilometres west of its 70% owned McArthur River uranium mine.
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CanAlaska Uranium, $0.17, symbol CVV on Toronto (Shares outstanding: 137.8 million; Market cap: $23.4 million) continues to report encouraging drilling results on its properties, with promising showings of mineralization. However, it will likely take considerably more successful exploration before CanAlaska and its partners define a.. Read More
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CANALASKA URANIUM $0.17 (Toronto symbol CVV; SI Rating: Start-up) (1-800-667-1870; www.canalaska.com; Shares outstanding: 137.8 million; Market cap: $23.4 million) owns twenty uranium projects in Saskatchewan’s Athabasca Basin region.
CanAlaska has added partners to help pay for exploration drilling. These include Japan’s giant Mitsubishi Corp., plus a.. Read More
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