CanAlaska Uranium expands West McArthur Pike Zone at West McArthur JV, Saskatchewan
CanAlaska Uranium Ltd. [TSXV: CVV; OTCQX: CVVUF; FSE: DH7] reported that it has completed the summer drill program on the West McArthur Joint Venture project in the eastern Athabasca Basin, Saskatchewan.
The summer program was focused on continued step-outs from the Pike Zone high-grade mineralization to evaluate for additional zones of uranium mineralization and continuation of the associated large hydrothermal alteration system. During the program, the company successfully stepped-out 250 metres west and 100 metres east, intersecting strong alteration, structure, graphitic host stratigraphy, and multiple areas of unconformity-associated uranium mineralization. Importantly, the western-most drill fences intersected strong alteration and uranium mineralization, highlighted by drillholes WMA099 which intersected 2.5 metres at 0.82% eU3O8 and WMA099-03 which intersected 4.1 metres at 0.49% eU3O8, which indicate the strong hydrothermal mineralizing system remains open and appears to be improving to the west along the C10S corridor. These drill fences highlight the potential for additional mineralized pods.
CanAlaska CEO, Cory Belyk, commented, “Following program and budget expansion in August, the 2025 drilling program at West McArthur comes to an end highlighted by some incredible results from the winter and summer drilling programs. The summer program was primarily focused on step-out drilling that delivered a greatly expanded mineralization footprint with clear indications of associated strong alteration at the western-most end of the mineralized Pike Zone corridor drilled to date.
“Most significantly, the intersected alteration and mineralization characteristics to the west are like those observed in direct relationship to the Pike Zone high-grade mineralization reported from the winter program. This very successful outcome will focus the start of the fully funded $15 million 2026 drilling program scheduled to begin in early January. Continued expansion of Pike Zone is timely and comes within the backdrop of renewed nuclear interest in North America as demonstrated by recent news on October 28th of the United States initiating an $80 billion reactor deal with Westinghouse.”
The 2025 summer drill program on the West McArthur project is now complete. Based on positive initial summer drill results, the 2025 exploration budget was increased by 13% in August. The program consisted of 22 unconformity tests, 13 of which contained uranium mineralization.
The primary objective of the summer program was focused step-outs along strike on the C10S corridor to evaluate for additional zones of uranium mineralization and continuation of the associated large hydrothermal alteration system. The program was focused on understanding the key structural controls and alteration vectors along strike in both directions of the Pike Zone footprint.
During the program, the company successfully expanded the hydrothermal alteration footprint along the C10S corridor 250 metres to the west and 100 metres to the east of the Pike Zone, intersecting key alterations including bleaching, clay, and sooty pyrite associated with fault structures and the graphitic host stratigraphy at the unconformity and into the upper basement.
In addition, the company intersected uranium mineralization associated with these structures and alteration zones on multiple drill fences moving to the west of the main Pike Zone.
Most importantly, the last drill fences of the season completed on the western-most step out intersected unconformity-associated uranium mineralization. Drillholes on these fences were highlighted by WMA099 which intersected 2.5 metres at 0.82% eU3O8 and WMA099-03 which intersected 4.1 metres at 0.49% eU3O8.
These drillholes indicate that the hydrothermal mineralizing system remains open to the west along the C10S corridor and highlights the potential for additional high-grade mineralized pods along strike.
As a secondary goal, one infill drillhole was completed within the high-grade footprint of the Pike Zone in support of the geological model. WMA094-08 intersected 4.3 metres at 5.89% eU3O8 along L25E and confirmed extension and continuity of the high-grade pod to the south along this drill section.
Combined with the results of the summer program, the winter assay results also support continued exploration along the C10S corridor for additional zones of uranium mineralization. Geochemical assay results from the summer portion of the 2025 exploration program are pending.
The West McArthur project, a Joint Venture with Cameco Corp. [TSX: CCO; NYSE: CCJ], is operated by CanAlaska that holds an 85.97% ownership in the Project. CanAlaska is sole funding the original 2025 West McArthur program and budget and will further increase its majority ownership in the project as a result. As per the Joint Venture agreement, partner funding of the increased portion of the 2025 program and budget has not yet been confirmed.
A $15 million 2026 exploration program and budget on the West McArthur project has been approved. This represents a 20% increase over the 2025 program and budget. Program and funding details will be reported at a later date.
CanAlaska is a leading explorer of uranium in the Athabasca Basin of Saskatchewan, Canada. With a project generator model, the company has built a large portfolio of uranium projects in the Athabasca Basin. CanAlaska owns numerous uranium properties, totaling approximately 500,000 hectares, with clearly defined targets in the Athabasca Basin covering both basement and unconformity uranium deposit potential.
Fully financed for the upcoming 2026 drill season, CanAlaska is focused on uranium deposit discovery and delineation in a safe and secure jurisdiction.