CanAlaska Ventures Ltd. Uranium Group Update
"We are well on our way to achieving our objective, which is simply to control one of the largest uranium exploration portfolios in the Athabasca Basin” - Harry Barr, Chairman of CanAlaska
Vancouver, BC (PRWEB via PR Web
Direct) January 27, 2005 -- CanAlaska Ventures Ltd "CanAlaska" www.canalaska.com (TSX
Venture: CVV – OTCBB: CVVLF)
Dear Shareholders,
Our President and
Chief Executive Officer, Mr. Peter Dasler is in New Zealand consulting with the
financial sector and government authorities to determine the best course of
action for CanAlaska’s gold properties in that region. These assets were the
Company’s principal assets until we began our move to the Athabasca Basin last
year. Mr. Dasler’s work is part of our strategic move to concentrate our focus
on uranium exploration.
Since September 2004, our Company has assembled a
significant land position and a competent and proven technical team. There has
been a considerable amount of research done in the past on the prospective
ground that our Company has acquired and assessment reports are being compiled
and the data will be available over the next few months. Most of this
exploration dates back to the 70’s and 80’s and has followed the classical
graphite conductor model. We are considering other targets as well, in the Basin
and in the basement.
Specifically our strategy will follow a
three-pronged approach:
• In the East of the Basin we will explore for
deposits at, and below, the unconformity, similar to Cigar Lake and McArthur
River, but also like the Millenium deposit, which is deeper in the
basement.
• In the West of the Basin we will explore an area that has
seen very little or no exploration, but has the right geological environment to
produce large unconformity uranium deposits.
• In the East we will
explore for shear-hosted deposits similar to Eagle Point and other basement
hosted unconformity-style deposits, in an area where many uranium showings were
found in the late 70’s, but with little subsequent exploration.
In all
three areas airborne and ground geophysics will be combined with summer
prospecting and geochemistry to define the best targets for drilling to start in
the winter 2005-2006. We have made a significant commitment to “Megatem” surveys
that will be conducted by Fugro Airborne Surveys. These aerial surveys will be
able to examine to depths of as much as 1,000 metres versus the historic
capabilities of about 200 metres in the late 1970s.
Armed with a solid
treasury and considerable prospective targets we believe that our research will
attract attention from both junior exploration and producers companies. Uranium
Facts include:
•Price rising steadily from under $8 per pound in the
late 1990's to over $20 a pound.
•Saskatchewan produces approximately
one-third of the world's Uranium mine output.
•Athabasca Basin, accounts
for approximately 32% of the world’s uranium supply.
The CanAlaska
Ventures map can be viewed at: http://www.canalaska.com/s/NewsReleases.asp?ReportID=96619 .
The CanAlaska Ventures Uranium Group Update depicting our land position in mid
January 2005, including claims that have been recorded and land for which
approval is pending can be viewed at: http://www.canalaska.com/i/pdf/CVVUraniumJanuary2005.pdf.
Seldom does an opportunity present itself where the market demand and supply
parameters coupled with technological improvements allow for research on such a
considerable scale in the areas already proven too have some of the world’s most
promising uranium deposits. Our geological team is well equipped to take best
advantage of these opportunities and we look forward to reporting on our
progress over the next few months.
According to Harry Barr, Chairman of
CanAlaska Ventures Ltd. "We are well on our way to achieving our objective,
which is simply to control one of the largest uranium exploration portfolios in
the Athabasca Basin. We are very pleased to have Dr. Karl Schimann, P. Geo., as
Manager of our Uranium Exploration Team”.
Dr. Schimann holds a Ph.D.
from the University of Alberta and has worked extensively in the Uranium
industry. Dr. Schimann worked for 20 years with COGEMA, commencing in 1977, both
in Uranium and gold exploration. His profile includes more than 10 years of his
employment was directly involved in Uranium exploration and mine geology in the
Athabasca Basin, in particular Dr. Schimann was the Project Manager at the Cigar
Lake Uranium Mine, from discovery and throughout the exploration phase. He was
also the Senior Mine Geologist, responsible for the Geological Control
Department at the McClean Lake Uranium Mine. Dr. Schimann was COGEMA's District
Geologist for the Canadian Cordillera and Head of COGEMA's Saudi Arabia
exploration office. Dr. Schimann brings extensive geological and mine evaluation
skills to the Company, which will further complement CanAlaska's existing
exploration team. CanAlaska's Chairman, Harry Barr notes "Dr. Schimann's wealth
of experience inUranium exploration will be invaluable to the Company as it
positions itself as one of the larger exploration landholders in the eastern
Athabasca basin of Saskatchewan. We also are very pleased to have Mr. Jim
Kermeen, P.Eng., Manager of Joint Venture Development. Mr. Kermeen brings some
45 years experience in mineral exploration, and 17 years of direct uranium
exploration in the Athabasca basin and surrounding areas. Mr. Kermeen's
experience of the mineral industry coupled with his past direct exploration
knowledge of the Athabasca area is expected to be of great assistance to the
Company. We are also examining acquisitions in the United States and this effort
is being led by Mr. Jack Moore who brings some thirty-five (35) years of
experience with Union Carbide”.
Yours truly,
Dr. Karl Schimann, P.
Geo.
Manager Uranium Exploration
Investor Contact:
Spiros
Cacos
Tel: 604.685.1870
Toll Free 1-800-667-1870
Web: www.canalaska.com
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.
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Source : http://www.prweb.com/releases/2005/1/prweb202213.htm