- CanAlaska Uranium (CVV) signed a definitive agreement to acquire the Mel Nickel Deposit and surrounding claims.
- Mel property has a historical indicated resource estimate of 4.3 million tonnes at 0.875 per cent nickel for 82.5 million pounds of contained nickel and an inferred resource estimate of 1.0 million tonnes at 0.839 percent nickel for 18.7 million pounds of contained nickel
- CanAlaska will acquire the Mel Deposit lease and surrounding claims by paying C$300,000 and issuing 2,000,000 common shares of the company, subject to TSX Venture Exchange approval.
- CanAlaska Uranium Ltd. (CVV) shares opened trading at $0.29 per share
CanAlaska Uranium (CVV) signed a definitive agreement to acquire the Mel Nickel Deposit and surrounding claims.
The acquisition provides the company with 100 per cent ownership of the mineral lease that hosts the Mel Deposit, as well as 10 mineral claims covering a total of 26.13 sq. km. in the Thompson Nickel Belt in Manitoba. The Mel project claims are contiguous with the company’s Hunter and Strong projects.
Mel property is located within 25 kilometres of Vale Canada Limited’s processing facilities in Thompson, Manitoba. It has a historically indicated resource estimate of 4.3 million tonnes at 0.875 per cent nickel for 82.5 million pounds of contained nickel and an inferred resource estimate of 1.0 million tonnes at 0.839 percent nickel for 18.7 million pounds of contained nickel.
CanAlaska’s CEO, Cory Belyk, stated that completion of this acquisition will provide the company with a high-grade nickel resource in one of the premier sulphide nickel belts in the world.
“CanAlaska and its shareholders will be positioned with a district-scale nickel portfolio and a significant NI43-101 compliant resource right next to Vale’s Thompson nickel mining operations in one of the world’s best mining jurisdictions. As the world moves quickly toward carbon-free clean-energy electrification, class 1 nickel is projected to be in high demand and short supply. CanAlaska’s Thompson Nickel Belt portfolio will be very well positioned to take advantage of this market reality.”
CanAlaska Uranium Ltd. is engaged in the exploration of uranium, nickel, and diamond properties. It holds interests in approximately 3000 sq. km. in Canada’s Athabasca Basin.
CanAlaska Uranium Ltd. (CVV) opened trading at $0.29 per share.
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