Key Extension

  • Key Lake deposits and showings 15 km from project boundary
  • Property Option Agreement signed allowing CanAlaska to earn 100% interest
  • Minimal drill testing despite prolonged regional exploration
  • Key Lake structure and stratigraphy interpreted to trend onto project
  • Objective: Basement-hosted uranium deposit discovery
  • Planned 2022 exploration programs

Location and Ownership

This project is located in the Southeastern Athabasca Basin in Saskatchewan and lies 15 km from the Key Lake mill complex. The past producing Key Lake Deposits are located 15 km from the project boundary, which have historically produced over 150 million lbs U3O8 from the Gaertner and Deilmann open pits. The property is owned by Durama Enterprises and is currently subject to a Property Option Agreement (POA) with CanAlaska Uranium. The POA allows CanAlaska to earn up to 100% interest in the property by undertaking work and payments in a single stage over a four-year period.

Exploration

  • The project lands have been subject to historical regional and project scale ground and airborne geophysical surveys. The regional geophysical surveys map linear magnetic low features with corresponding EM conductors, typical of the Lower Wollaston Domain on the Eastern claims. On the Western claims, the EM conductors are generally shorter strike length discontinuous features, typical of the Mudjatik Domain. Lesser focused prospecting programs have targeted lake sediment and boulder anomalies. Despite the prolonged regional exploration and discoveries in this part of the Athabasca Basin, the project lands have undergone minimal drill testing in the last 1970’s. This drilling consisted of shallow regional tests. Extensive drilling has been completed to the East-Northeast of the project in and around the Key Lake deposits.
  • Focused airborne magnetics and VTEM (Versatile Time Domain Electromagnetic) surveys were completed by past operators of the project in the early 2000’s, outlining an East-Northeast oriented conductive corridor coincident with a magnetic lineament that trends towards the historically producing Key Lake deposits. In addition, the surveys identified a prominent 10 km long NE-trending conductor corridor that is parallel to the Mudjatik-Wollaston transition.

Geology

Basement rocks comprising Archean granitoids and Lower Proterozoic Wollaston and Mudjatik group metamorphic rocks. These metamorphic rocks are composed of supracrustal rocks (psammites, pelites and minor greenstones) and associated intrusions. The project is entirely hosted in the basement rocks and contains no Athabasca sandstone cover.

Potential

The focus of exploration on this project is for basement-hosted uranium deposits like the McArthur River, Arrow, Eagle Point, or Millennium deposits. The area has numerous conductors and faults which act as both conduits and traps for potential uranium mineralization. A number of structures and conductive targets have been identified on the project.

The Qualified Person for this overview is Nathan Bridge. More detailed exploration information is available in the News Summary below.


Maps


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