The Korean Consortium now holds a 50% participating interest in the Cree East joint venture partnership, which is operated by CanAlaska.
In preparation for Winter 2011 exploration on the Cree East project, preliminary geophysical surveying began in early December as part of a planned $3.58m, 7,650m, 18-drill hole winter drilling program.
CanAlaska expects to carry out drill testing on three targets (Zones I, C and D) located within shallow lake-covered areas.
In each of these areas, previous drilling has intercepted uranium mineralization and strong alteration in surrounding rocks and the covering Athabasca sandstone.
The best drill intercept was in drill-hole CRE040 at Zone I, where the first of two holes into a new target intercepted strongly fractured and clay altered core, hematization and geochemically anomalous uranium and trace base metal mineralization above an upper basement intercept of 1.4 m @ 0.091 % U3O8 in a graphitic conductor unit.
At Zone D, previous drill-hole CRE017 intercepted 1.7 m @ 0.012 U3O8 in basement rocks.
In all drill areas on the project, geological and geophysical work has more closely-identified the targets, and ongoing drilling is expected to concentrate within 100m of previous wider-spaced drill intercepts.
