Kivalliq Energy Corporation (TSXV:KIV) announced a 28,000 metre drill program at the Angilak Property. The Company plans to build upon the Lac 50 Trend inferred resource, which is currently at 2,831,000 tonnes grading 0.69% U3O8 and totalling 43.3Mlbs U3O8 and expand it by drilling, also advancing additional high-priority uranium targets within the Lac 50 Trend. The Company intends to drill 25,000 metres of NQ core, and 3,000 metres of reverse circulation drilling on exploration targets.
As quoted in the press release:
The following summarizes both the first and second phases of the proposed 2013 exploration campaign:
- 25,000 metres of diamond drill core focused on expanding the Lac 50 Trend resource, testing new zones along strike and parallel to the resource and investigating the high priority Dipole and VGR targets.
- 3,000 metres of RC drilling to advance multiple untested conductors along strike and parallel to the Lac 50 Trend resource
- Ground geophysical surveys consisting of magnetics, electromagnetics, radiometrics and gravity
- Continued mapping and prospecting to advance priority target areas defined by the 2012 program and identify new targets on a property wide scale
Kivalliq Energy Corporation CEO, Jim Paterson said:
Based on the positive momentum from the 2012 season, and a 300% increase to the Lac 50 Trend resource over the past two seasons, Kivalliq’s board of directors has approved an aggressive exploration strategy at the Angilak Property in 2013. While maintaining our high standards of environmental stewardship and cost effective exploration, our 2013 exploration goals are clearly defined as follows: increase the inferred resource base in the Lac 50 Trend by drilling high priority and untested conductors near the current inferred resource; demonstrate Angilak’s district scale potential by testing unconformity style targets elsewhere on the property; and initiate a Preliminary Economic Assessment scheduled for completion in 2014.