Best Uranium Intersection To Date Has This Miner Trading At Highest Levels in 9 Years

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Wednesday, February 5, 2025

Uranium is vital to the global economy as the primary fuel for nuclear power, a reliable and low-carbon energy source. It supports energy security, reduces reliance on fossil fuels, and plays a role in medical applications and national defense. The uranium industry also powers job creation and technological advancements, making it increasingly valuable as demand for clean energy grows.

A company that has been on the hunt for uranium for years is CanAlaska Uranium Ltd. (TSX-Venture: CVV) (OTCQX: CVVUF). Today, they provided an update on the ongoing winter diamond drill program at the Pike Zone on the West McArthur Joint Venture Project. Results from the first five drillholes were highlighted by WMA076-01, which intersected 14.5 metres at 12.20% eU3O8, including 5.0 metres at 34.38% eU3O8. WMA076-01 expands the ultra high-grade footprint of the Pike Zone at the unconformity by at least 15 metres to the east. The ultra high-grade mineralization remains open on strike.

CanAlaska CEO, Cory Belyk, comments, "We are very pleased to announce to our shareholders the initial results from the 2025 drilling program at Pike Zone which include the best ultra high-grade uranium mineralization encountered to date on the project. This ultra high-grade intersection at the eastern end of Pike Zone is on an adjacent drill section and remains completely open on strike which is a very exciting outcome from the first few weeks of drilling.”

Investors are sharing in the CEO’s enthusiasm by bidding shares of CVV up 6.74% to $0.95 while U.S. listed shares are currently up 8.21% at $0.68.  Oh, and if today’s PR wasn’t enough reason to take a closer look at CanAlaska, we’ll also note that shares are currently trading at their highest levels since 2016.

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