CanAlaska Uranium Ltd. (TSX-V: CVV) (FSE: DH7N), a Canadian uranium exploration and development company, has completed key extension work at its uranium project to earn-in and consolidate a 100% ownership in the project.
CanAlaska has been involved in exploring and developing the project since 2017. In that time, the company has had success in meeting various project milestones that allowed CanAlaska to eventually earn a 100% working interest in the project.
After receiving an environmental permit from the Saskatchewan Ministry of Environment in 2019, CanAlaska began extensive exploration work on the project. This included a variety of activities such as 3D airborne geophysical surveys, soil sampling, and rock sampling. This work was designed to outline the potential of the area.
The work was successful in outlining a large mineralized system that covers an area of approximately 13 by 7 kilometers in the eastern Manitoba region. The exploration work identified a total of 11 prospective uranium zones within this area.
The purpose of the earn-in agreement was for CanAlaska to consolidate the area and gain a 100% ownership in the project. It required the company to carry out various exploration activities such as the ones mentioned above, while also making cash payments to the owners of the project.
CanAlaska is now the sole owner of the project and is in a position to maximize the potential of the area. The company plans to further develop the project with the aim of developing the area into an advanced uranium exploration project.
This successful earn-in represents an important step forward for CanAlaska’s uranium project. The project has great potential which could be unlocked with further exploration and development. This points to a bright future for CanAlaska and its shareholders.
