Kivalliq Energy Corporation today announced the commencement of the 2014 exploration program at Kivalliq's 100% owned Genesis Property. The Genesis Property is a 491,154-acre uranium exploration project, staked by Kivalliq in January 2014, and situated within a structural corridor that hosts the majority of the high grade uranium resources within and adjacent to the current boundaries of the Athabasca Basin in Saskatchewan, Canada.
"Phase 1" of the 2014 exploration program is budgeted at CDN$1 million and will be executed by Kivalliq, owner and operator of the Genesis Property. The proposed program will be fully funded by Roughrider Exploration Ltd.. As previously disclosed, Kivalliq has granted Roughrider an option to acquire up to an 85% interest in the Genesis Property.
The Phase 1 program will consist of about 6,000 kilometres of helicopter-borne geophysical surveying, (magnetics, electromagnetics and radiometrics), focused on eight priority zones within the project area. The airborne survey is now underway, concurrent with a 300-sample lake sediment sampling program to define new uranium anomalies within the target areas. Upon receipt of preliminary results from the airborne geophysical survey, Kivalliq will "ground truth" geophysical anomalies, favorable structures and areas of historic showings. A prospecting, mapping and geochemical soil-sampling program will be conducted to further refine target areas and generate additional new targets. The program is expected to run until late September or early October, with a goal of advancing a number of uranium targets for drill testing.
Source: http://www.kivalliqenergy.com/