CanAlaska holds a 25% ownership in the Moon Lake South JV operated by our partner Denison Mines Corporation. The property is host to a five km long Northeast trending conductive corridor known as the CR-3 conductor. The CR-3 conductor is located two kilometres west of the K-trend, host to the Gryphon Deposit on Denison’s adjacent Wheeler River property. In 2016, Denison drilled one diamond drillhole (MS-16-01) near the southern boundary of the Moon Lake project, intersecting fractured and friable sandstone with uranium mineralization immediately at the unconformity (0.1% U3O8 over 0.5 m from 450.3 m). In 2021, Denison completed four drillholes on the project, intersecting additional uranium mineralization along the CR-3 corridor in MS-21-02 (0.14% eU3O8 over 0.2 m from 488.5 m) in the sandstone and MS-21-06 (0.12% eU3O8 over 0.2 m from 550.6 m) in the basement.
