The Conversation (0)
A 92% increase in the Lac Cinquante resource has been announced by Kivalliq Energy Corporation (TSXV:KIV). An Inferred Mineral Resource Estimate of 1,779,000 tonnes grading 0.69% U3O8, totalling 27.13 million lbs U3O8(15.2 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade has been reported. The Inferred Mineral Resource from the 2010 estimate for the the Lac Cinquante uranium deposit is primarily attributed to the addition of two new zones: the Eastern and Western Extensions, situated near surface, adjacent to and along strike of the Lac Cinquante Main Zone resource.
As quoted in the press release:
At a base case cut-off grade of 0.2% U3O8, an Inferred Mineral Resource is estimated at 1,779,000 tonnes averaging 0.69% U3O8, containing 27.13 million pounds U3O8. For evaluation purposes, three additional metals: silver (g/t), molybdenum (%) and copper (%) have also been estimated within the resource model.
The increase in the Inferred Mineral Resource from the 2010 estimate is primarily attributed to the addition of two new zones: the Eastern and Western Extensions, situated near surface, adjacent to and along strike of the Lac Cinquante Main Zone resource. The Mineral Resources contained within the Lac Cinquante uranium deposit are presented as a series of U3O8 cut-off thresholds for comparison purposes in Table 1 below and the base case cut-off grade of 0.2% U3O8 is highlighted. Kivalliq feels that the base case used is conservative but appropriate at this stage of the project’s development.
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