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Message: catching up

catching up

posted on Aug 12, 2009 05:20PM

Been away on vacation and now trying to catch up on news. The August 10 press release on the option with CanAlaska is positive and long overdue. I had mentioned in a post on April 22 that Kodiak needed to tie up some land held by CanAlaska because it was located in the middle of some very strong UTEM conductors which are prospective drill targets. Kodiak did in fact drill this feature with the WM-09-04 location shown on the map link in the press release. What I didn't think I needed to mention back then is that , in general , you always tie up the offsetting lands before you drill any wells in close proximity. Imagine how pleased the shareholders of CanAlaska would feel if we came up with U3O8 values > 1% in the WM-09-04 well before we had an agreement in place. Perhaps this was part of the issues that prompted some changes in management. At any rate we do have an agreement in place which is necessary before drilling any more wells and we do have good enough results to warrant another drill program on the West Millenium property. I don't worry about the dollar values promised as they are staged and will never actually be spent unless some good results are obtained in the next drilling program. An interesting background description on exploring for Athabasca uranium deposits can be found on Hathor Exploration website ( www.hathor.ca) entitled " Uranium Exploration 101" . Of particular interest was the physical description of one deposit's size "over half of the reserves at the McArthur River mine occur in a zone just 70 metres long by 70 metres deep by 30 metres wide" . The 0.13% results in the WM-09-04 well say we may be close.

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