Kivalliq Energy, a uranium exploration and development company, has begun a drilling program at the Angilak property located in Nunavut Territory, Canada. The program is part of a two-phased, $20 M exploration campaign.
The 2012 plans will explore numerous uranium targets that were either identified or developed by the Kivalliq’s 2010 and 2011 geophysical and prospecting survey programs. The company will exploit the new Lac Cinquante inferred resource of 27.13 million pounds of U3O8.
The company plans to conduct 9,000 m of reverse circulation drilling on exploration targets with a reverse circulation fly rig; and a 26,000 m of NQ core drilling on advanced targets with three diamond drill rigs. The company has also planned elaborate prospecting, geophysical surveying, and soil sampling programs.
Kivalliq Energy's President, Jeff Ward commented that after successfully expanding the Lac Cinquante mineral resource in 2011, the company is happy to come back to the Angilak property so that it can carry out its 2012 exploration objectives. According to him, the company plans to further expand the Lac Cinquante to depth and along strike; analyze targets on analogous conductors; and show the potential for numerous uranium deposits on the remaining areas of the Angilak property.
Crews and equipment have been mobilized at the Nutaaq camp for the first phase of reconnaissance program. One diamond drill rig is currently operating. The company is financially sound to drill from March to June, wherein one reverse circulation rig and two diamond drills will begin in May 2012. The company will also perform ground geophysical surveys until June.
The second phase of the reconnaissance program at the Angilak property will commence in July. It will comprise a reverse circulation drilling, a third diamond drill rig as well as geochemical, geological, and geophysical surveys in the field.
Source: http://www.kivalliqenergy.com/