CanAlaska Uranium Ltd. Reports Assay Results Supporting Extension of Pike Zone Mineralization
CanAlaska Uranium Ltd. (TSX Venture: CANU) announced on 22 January 2026 that the assay results from its 2025 Summer Drill Program confirm an extension of mineralization in the Pike Zone. The company disclosed that additional drill holes intersected economically significant uranium‑bearing zones beyond the previously defined limits, extending the Pike Zone to the west and north of the core area.
Key Findings
- Extended Mineralization: Assays from drill holes drilled in the summer program returned uranium grades that meet or exceed the company’s cut‑off criteria, indicating a broader spatial extent of the Pike Zone than earlier delineated.
- Implications for Resource Estimate: The new data support the potential to increase the company’s in‑situ resource estimate for the Pike Zone, subject to further delineation and economic assessment.
- Next Steps: CanAlaska plans to conduct additional drilling and sampling in the identified extensions to refine the resource model and evaluate the commercial viability of the expanded zone.
Company Context
CanAlaska Uranium Ltd. is a mining service provider operating in the energy sector, specializing in oil, gas, and consumable fuels. The company also offers exploration activities and solutions for uranium, copper, zinc, and diamond. It is listed on the TSX Venture Exchange and has a market capitalization of approximately 184 million CAD. The company’s share price closed at 0.84 CAD on 20 January 2026, with a 52‑week high of 1.25 CAD and a low of 0.51 CAD.
Market Reaction
The announcement was received by investors as a positive development in CanAlaska’s exploration program. While the company’s price‑to‑earnings ratio remains negative at –9.54, the new assay results contribute to the company’s ongoing efforts to enhance its exploration portfolio and attract potential investment.
For more detailed information, stakeholders can visit CanAlaska Uranium Ltd.’s website at www.canalaska.com .
