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CanAlaska Uranium ( (TSE:CVV) ) just unveiled an announcement.
CanAlaska Uranium has commenced a three-rig winter drilling campaign at its West McArthur Joint Venture project in the southeastern Athabasca Basin, part of a $15 million 2026 exploration program co-funded with Cameco. The program aims to complete 20 to 25 unconformity target intersections, stepping out along the C10S corridor around the Pike Zone to expand on a mineralized footprint already traced over 500 metres, including a defined 140-metre high-grade pod. Building on encouraging 2025 results that showed strengthening alteration, structural disruption and uranium mineralization to the southwest, the company is using new geophysical data and directional drilling technology to test for additional high-grade zones, while also running a ground-based electromagnetic survey on the Epp Lake conductor. Management positions the campaign as potentially transformative given the proven uranium endowment of the C10 and C10S corridors and a supportive uranium price environment, underscoring West McArthur’s strategic importance in CanAlaska’s growth pipeline.
The most recent analyst rating on (TSE:CVV) stock is a Hold with a C$0.69 price target. To see the full list of analyst forecasts on CanAlaska Uranium stock, see the TSE:CVV Stock Forecast page.
Spark’s Take on TSE:CVV Stock
According to Spark, TipRanks’ AI Analyst, TSE:CVV is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and substantial cash burn). Technicals also remain bearish with the price below key moving averages and negative MACD. Offsetting factors include positive corporate developments (successful financing and expanded exploration potential), while valuation provides limited support due to negative earnings and no dividend data.
To see Spark’s full report on TSE:CVV stock, click here.
More about CanAlaska Uranium
CanAlaska Uranium Ltd. is a Saskatchewan-based uranium exploration company focused on high-grade deposits in Canada’s Athabasca Basin, one of the world’s premier uranium districts. The company advances projects through joint ventures, notably with Cameco Corporation, and concentrates on unconformity-related uranium targets that can benefit from rising spot and term uranium prices.
Average Trading Volume: 746,519
Technical Sentiment Signal: Hold
Current Market Cap: C$149.6M
Learn more about CVV stock on TipRanks’ Stock Analysis page.