October 27, 2011
Vancouver, B.C. - Kivalliq Energy Corporation (KIV:
TSX-V) (the "Company" or
"Kivalliq") today provided assay results from
diamond drilling at the Eastern Extension, located 400
metres along strike and east of the high grade Lac
Cinquante uranium deposit, located within the 225,000 acre
Angilak Property in Nunavut, Canada. Assay results
disclosed in this release are from the first 24 of 44 holes
drilled in total at the Eastern Extension.
Highlights include:
-
2.65% U3O8, 134.63 g/t Ag, 0.06% Cu,1.67% Mo over 0.5
metres in 11-LC-094
-
2.33% U3O8, 61.40 g/t Ag, 0.16% Cu, 0.57% Mo over 0.4
metres in 11-LC-092
-
1.84% U3O8, 16.63 g/t Ag, 0.55% Cu, 0.07% Mo over 1.0
metres in 11-LC-096
-
1.00% U3O8, 27.75 g/t Ag, 0.09% Cu, 0.39% Mo over 1.0
metres in 11-LC-093
-
0.75% U3O8, 31.23 g/t Ag, 0.07% Cu, 0.46% Mo over 1.4
metres in 11-LC-084
-
Eastern Extension strike length is 550 metres; future
drilling will test along strike and to depth
-
Assays pending from an additional 20 drill holes at
Eastern Extension
(Estimated true widths - see assay results table below)
"The discovery of the Eastern Extension was the direct
result of our RC drilling strategy," stated President Jeff
Ward. "These assays underpin the growing importance of
the Lac Cinquante trend, and like the Western Extension,
will go towards revising the resource estimate for Lac
Cinquante by the end of Q1, 2012."
Eastern Extension
The discovery of the Eastern Extension was initially made
by testing a northwest trending linear VLF EM conductor
similar to Lac Cinquante, using six reverse circulation
(RC) holes drilled from three set-ups. Two diamond drills
were then deployed to delineate the Eastern Extension, with
6,143 metres in 44 holes drilled from 13 set-ups spaced on
50 metre drill sections.
The results reported herein comprise the first set of assay
results from 24 holes drilled at the Eastern Extension. The
Eastern Extension has a drilled strike length of 550 metres
and starts approximately 400 metres to the east, and along
strike, of the Lac Cinquante main zone resource area.
All holes were drilled to the northeast with azimuths
bearing 26 degrees, at inclinations between minus 45 and 90
degrees. 39 of 44 holes intersected anomalous
radioactivity between 34 and 257 metres vertical depth.
Both RC and diamond drilling have confirmed the
continuation of the Lac Cinquante structure eastward with
uranium mineralization occurring in a zone dipping roughly
72 degrees to the southwest. Additional assays from the
Eastern Extension will be released upon receipt and
review.
Mineralization is very similar to that found at Lac
Cinquante, primarily hosted in the same
hematite-carbonate-chlorite-graphite altered tuff unit.
Uranium is associated with quartz-carbonate veining,
breccia and sulphides within the sheared host rock.
For a summary of the 2011 exploration program at Angilak,
please see news release from October 18, 2011. To view
related cross sections and drill plan maps, please
visit:
http://kivalliqenergy.com/projects/angilak/program_images/
Eastern Extension Assay Results
|
2011 Lac Cinquante Eastern Extension Drilling Program
- Weighted Assay Results*
|
|
Hole
|
From
|
To
|
Interval (m)
|
Est. True Width (m)
|
U3O8
|
% Cu
|
% Mo
|
Ag (g/t)
|
Note
|
|
11-LC-066
|
87.6
|
94.8
|
7.2
|
N/A
|
0.46
|
0.09
|
0.05
|
11.9
|
Qtz Carb Vein
|
|
includes
|
91.9
|
94.0
|
2.1
|
N/A
|
1.49
|
0.15
|
0.05
|
25.6
|
Qtz Carb Vein
|
|
11-LC-067
|
65.7
|
67.2
|
1.5
|
1.2
|
0.57
|
3.08
|
0.18
|
55.2
|
Main Zone
|
|
11-LC-068
|
85.1
|
87.6
|
2.5
|
1.6
|
0.37
|
0.92
|
0.07
|
11.8
|
Main Zone
|
|
11-LC-068
|
80.3
|
80.6
|
0.3
|
N/A
|
0.43
|
0.04
|
0.11
|
6.2
|
Qtz Carb Vein
|
|
11-LC-069
|
130.0
|
130.4
|
0.4
|
0.2
|
0.22
|
0.03
|
0.07
|
10.4
|
Main Zone
|
|
11-LC-069
|
114.7
|
115.3
|
0.6
|
N/A
|
0.13
|
0.03
|
0.04
|
3.2
|
Qtz Carb Vein
|
|
11-LC-070
|
183.7
|
186.3
|
2.6
|
0.5
|
0.02
|
0.02
|
0.01
|
0.1
|
Main Zone
|
|
11-LC-071
|
69.7
|
73.0
|
3.3
|
2.7
|
0.03
|
0.88
|
0.02
|
40.2
|
Main Zone
|
|
11-LC-072
|
114.3
|
117.4
|
3.1
|
1.9
|
0.34
|
0.18
|
0.26
|
28.0
|
Main Zone
|
|
includes
|
114.6
|
115.2
|
0.6
|
0.4
|
1.62
|
0.49
|
0.63
|
69.3
|
Main Zone
|
|
11-LC-073
|
138.9
|
139.2
|
0.4
|
0.2
|
0.07
|
0.08
|
0.03
|
3.3
|
Main Zone
|
|
11-LC-074
|
82.9
|
84.2
|
1.3
|
1.3
|
0.28
|
0.71
|
0.32
|
59.0
|
Main Zone
|
|
11-LC-084
|
49.0
|
50.7
|
1.7
|
1.4
|
0.75
|
0.07
|
0.46
|
31.2
|
Main Zone
|
|
11-LC-085
|
79.5
|
79.9
|
0.4
|
0.2
|
0.29
|
0.02
|
0.17
|
10.3
|
Main Zone
|
|
11-LC-086
|
143.0
|
143.6
|
0.6
|
0.1
|
0.24
|
0.06
|
0.23
|
12.2
|
Main Zone
|
|
11-LC-087
|
60.2
|
61.4
|
1.2
|
1.0
|
0.01
|
0.06
|
0.01
|
4.1
|
Main Zone
|
|
11-LC-088
|
40.7
|
41.1
|
0.3
|
N/A
|
0.34
|
0.03
|
0.02
|
1.4
|
Qtz Carb Vein
|
|
11-LC-088
|
97.7
|
98.7
|
1.0
|
0.6
|
0.41
|
0.02
|
0.13
|
6.5
|
Main Zone
|
|
11-LC-089
|
136.6
|
138.5
|
1.9
|
0.7
|
0.76
|
0.18
|
0.59
|
47.4
|
Main Zone
|
|
11-LC-090
|
256.1
|
258.6
|
2.5
|
0.4
|
0.60
|
0.12
|
0.47
|
24.6
|
Main Zone
|
|
11-LC-091
|
70.6
|
71.0
|
0.4
|
0.4
|
0.74
|
0.21
|
0.10
|
11.8
|
Main Zone
|
|
11-LC-091
|
98.6
|
99.7
|
1.1
|
N/A
|
0.09
|
0.02
|
0.04
|
5.8
|
Qtz Carb Vein
|
|
11-LC-092
|
98.5
|
99.1
|
0.6
|
0.4
|
2.33
|
0.16
|
0.57
|
61.4
|
Main Zone
|
|
11-LC-093
|
127.2
|
129.1
|
1.9
|
1.0
|
1.00
|
0.09
|
0.39
|
27.8
|
Main Zone
|
|
11-LC-094
|
190.6
|
192.4
|
1.8
|
0.5
|
2.65
|
0.06
|
1.67
|
134.6
|
Main Zone
|
|
11-LC-095
|
61.9
|
62.3
|
0.4
|
0.3
|
0.34
|
0.04
|
0.02
|
3.4
|
Main Zone
|
|
11-LC-096
|
88.8
|
90.5
|
1.7
|
1.0
|
1.84
|
0.55
|
0.07
|
16.6
|
Main Zone
|
|
11-LC-097
|
106.6
|
107.5
|
0.9
|
N/A
|
1.26
|
0.18
|
0.09
|
7.2
|
Qtz Carb Vein
|
|
11-LC-097
|
110.5
|
114.0
|
3.5
|
N/A
|
0.59
|
0.04
|
0.03
|
2.0
|
Qtz Carb Vein
|
|
11-LC-097
|
133.3
|
134.0
|
0.6
|
0.3
|
0.47
|
0.46
|
0.52
|
47.6
|
Main Zone
|
|
11-LC-098
|
147.4
|
147.7
|
0.3
|
N/A
|
0.53
|
0.02
|
0.01
|
1.4
|
Qtz Carb Vein
|
|
11-LC-098
|
154.4
|
155.4
|
1.0
|
0.5
|
0.62
|
0.45
|
0.09
|
12.3
|
Main Zone
|
*All samples subject to ICP 1 Analysis by SRC in Saskatoon,
SK. ICP1 results >1000 ppm U are subject to SRC U3O8
Assay; ICP1 results for Cu, Mo and Ag are reported by SRC
in parts per million (ppm). 1 ppm = 1gm/t, 10000 ppm
= 1%; Intervals include ICP U analysis in ppm converted to
U3O8%. Conversion to U3O8% = ppm x 0.01179%. Estimate
for true width of mineralization is based on the angle of
surveyed drill hole and the apparent orientation of the
zone at the intercept.
QA/QC
Samples from the 2011 drilling program comprised half split
NQ drill core. All samples were analyzed for U3O8 and a
multi-element suite by Saskatchewan Research Council (SRC)
Geoanalytical Laboratories. The SRC facility operates in
accordance with ISO/IEC 17025:2005 (CAN-P-4E), General
Requirements for the Competence of Mineral Testing and
Calibration laboratories and is accredited by the Standards
Council of Canada. The samples are first analyzed by
SRC's ICP-OES multi-element Uranium exploration ICP1
method. The method analyzes for multi-elements including
Ag, Mo, Cu, Pb, Zn and a suite of rare earth elements. ICP
results U>1000 parts per million (ppm) are analyzed
using SRC's ISO/IEC 17025:2005-accredited U3O8 Assay
method. Laboratory quality control (QC) includes a repeat
analysis on every 20th sample. Repeat samples had good
reproducibility. Kivalliq's QC included the insertion
of blanks and standards into the sample inventory at the
project site prior to shipment in sealed containers. All QC
results were within expectations.
Disclosure of a technical nature contained in this release
has been reviewed and approved by Kivalliq's President,
Jeff Ward, P.Geo. Mr. Ward is the Qualified Person for the
purposes of National Instrument 43-101.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation is a uranium exploration and
development company, and the first company in Canada to
sign a comprehensive agreement with the Inuit of Nunavut to
explore for uranium on Inuit Owned Lands in Nunavut.
With an NI 43-101 compliant Inferred Mineral Resource of
810,000 tonnes grading 0.79% U3O8, totaling 14.15 million
lbs U3O8 (17.5 lbs U3O8/tonne) at a 0.2% U3O8 cut-off
grade, the Lac Cinquante Deposit is Canada's highest grade
uranium deposit outside of the Athabasca Basin. Kivalliq's
flagship project, the 225,000 acre Angilak Property in
Nunavut, hosts the high-grade Lac Cinquante deposit, along
with nine additional high priority target areas. Since
acquiring the Angilak Property in 2008, the Company has
invested approximately $30 million conducting systematic
exploration, including ground and airborne geophysics,
geological mapping, prospecting and approximately 48,000
meters of RC and diamond drilling.
On behalf of the Board of Directors
"Jim Paterson"
James Paterson, CEO
Kivalliq Energy Corporation
For further information about, Kivalliq Energy Corporation
or this news release, please visit our website at www.kivalliqenergy.com
or contact Investor Relations at 1.888.331.2269 toll
free, directly at 604.646.4527 or by email at info@kivalliqenergy.com.
Kivalliq Energy Corporation is a member of the Discovery
Group of companies, for more information on the group
visit www.discoveryexp.com.
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Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Certain disclosures in this release, including
management's assessment of plans and projects and
intentions with respect to future exploration programs,
constitute forward-looking statements that are subject to
numerous risks, uncertainties and other factors relating to
Kivalliq's operations as a mineral exploration company
that may cause future results to differ materially from
those expressed or implied in such forward-looking
statements, including risks as to the completion of the
plans and projects. Readers are cautioned not to place
undue reliance on forward-looking statements. Other than as
required by applicable securities legislation, Kivalliq
expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a
result of new information, future events, or otherwise.
