News

June 01, 2009

CanAlaska Uranium Is Looking For New Partners To Fund Exploration On Its Portfolio of Projects Around The Athabasca Basin

By Charles Wyatt

As pointed out in a couple of articles recently, the junior uranium explorers are coming back into fashion. Peter Dasler of CanAlaska Uranium therefore chose a good moment to visit London. In part he was here for meetings with a small investment company called Yellowcake which agreed to earn a 60 per cent interest in the Grease River project back in 2007. Grease River is a shallow unconformity target just to the north of the Athabasca Basin in Saskatchewan which hosts the world’s richest uranium deposits. It would be interesting to know if Yellowcake has been able to keep up its payments as its share price must have been bombed out towards the end of last year. Peter is a tactful man and he is not saying, but it is clear that there has not been much activity - the last news that offers any insight comes from way back in March 2008 when the two partners announced that the project displayed high grade uranium mineralization at surface in basement rocks.

The other purpose of Peter’s visit was to assure investors in London that he’s very much back in business as he withdrew from promotion towards the end of last year on the basis that talk of even the best achievements was falling on stony ground. Fair enough, but now the uranium sector is once again on fund managers’ radar screens he wants to remind them that CanAlaska is hunting elephants around the Basin and that it has some very powerful partners. A prime example is the big Cree East project...