Jul 10 2015
Kivalliq Energy Corporation ("Kivalliq") today commenced exploration at the Company's Angilak Property in Nunavut Territory, Canada. The focus of the program will be drill testing the high priority Dipole target and advancing multiple uranium targets in the Dipole-RIB Trend through geochemical surveying.
Dipole-RIB Trend
The first phase of a CDN$1.5 million 2015 exploration program has commenced at Kivalliq's 100% owned, 105,280 hectare (260,154 acre) Angilak Property. Staff and supplies were mobilized to the existing Nutaaq camp in late June. Kivalliq plans to drill up to 1000 metres in six holes at Dipole in July, using one of three diamond drill rigs already on site. Ground geochemical surveying will run concurrently with the drill program, following-up on high priority targets identified during the 2014 season at Dipole and RIB.
"We are very excited to start the 2015 exploration program at Angilak, especially the drill testing of our Dipole target," stated Jeff Ward, Kivalliq's President. "The discovery of a high grade, Lac 50-type uranium deposit at Dipole would confirm our belief that this large property hosts an important uranium district in Nunavut."
The Dipole-RIB Trend is located approximately 25 kilometres southwest of Lac 50, in a northeast trending belt of Archean metavolcanic rock interpreted to be equivalent to Lac 50 resource host rocks. Based on corroborative geophysical and geochemical exploration, Dipole and RIB are excellent analogues to the Lac 50 deposit.
In 1980, historic work by Pan Ocean Oil Ltd identified several uranium prospects in the Dipole target area, including a grab boulder sample 2.5 kilometres to the north assaying 8.41% U3O8 and 5.38% Cu. Subsequent work by Kivalliq outlined a prominent two kilometre long very-low frequency electromagnetic (VLF-EM) conductor coincident with previously undiscovered mineralized boulders. One angular boulder assayed 2.24% U3O8and 116 g/t Ag. Enzyme Leach (EL) soil sampling conducted by Kivalliq in 2014 outlined a 3.4 kilometre long uranium-in-soil trend along this VLF-EM conductor, making Dipole the most advanced, drill-ready target on the Angilak Property.
The RIB target, located four kilometres south of Dipole, was identified by Noranda Exploration Ltd. in 1976 as a one kilometre long basement conductor on the western margin of the Angikuni Basin unconformity. During 1977-78, 14 of 25 diamond drill holes intersected uranium mineralization at shallow depths (less than 35 metres), with the two best intercepts being 0.19% U3O8over 9.3 metres (including 0.52% U3O8 over 2.6 metres) and 1.61% U3O8 over 0.7 metres. Exploration by Kivalliq in 2014 confirmed the RIB conductor using airborne Versatile Time Domain Electromagnetic (VTEM) geophysics. EL soil samples also outlined a corresponding 3.6 kilometre long uranium geochemical trend, demonstrating that historic work tested only a portion of the RIB target. Due to geological similarities with both Dipole and Lac 50, the RIB target warrants further infill geochemical work in 2015.
Previous exploration results by Pan Ocean Oil Ltd and Noranda Exploration Ltd referred to above are historic in nature and have not been verified by Kivalliq. However, Kivalliq believes these results are relevant because they are indicative of mineralized zones worthy of follow-up exploration since they are based on exploration carried out by knowledgeable explorers in accordance with acceptable industry practices at the time.
Jeff Ward, P.Geo., President of Kivalliq and a Qualified Person for Kivalliq, has reviewed and approved the publicly available scientific and technical information by previous exploration groups contained in this release.
Source: http://www.kivalliqenergy.com/