Kivalliq Energy has declared the phase II exploration program at the Angilak property in Canada. The value of the exploration is $20 million. The company has planned for 2012 aggressive exploration to develop numerous uranium discoveries found during 2011.
The company has planned for 9,000 m of reverse circulation (RC) drill program at the targets for exploration, using a light weight RC fly rig and to drill 26,000 m of NQ core, using three diamond drill rigs. It has planned for broad ground-based soil sampling, geophysical prospecting and surveying programs.
The CEO of Kivalliq, Jim Paterson stated that the objectives of the 2012 exploration program is to continue the extension of the Lac Cinquante mineral resource present till depth and along strike, drill targets on analogous conductors and show the capacity for several uranium deposits on the Angilak Property.
Kivalliq has begun the 2012 phase II exploration program, with the crews and equipment mobilization to the Nutaaq camp during March. The company has received complete funding in order to drill from March to June using two diamond drill rigs, with one RC drill rig commencing in May, and to conduct ground geophysical surveys till June. It will commence planned phase II exploration program at the property in July and a third diamond drilling rig may be included in this program to continue engineering, geochemical, geological, geophysical surveys and RC drill program in the field.
Source: http://www.kivalliqenergy.com/