Kivalliq Acquires Rio Tinto’s Hatchet Lake Uranium Property in Saskatchewan

Kivalliq Energy Corporation (TSXV:KIV) announced the acquisition of 100% of Hatchet Lake Uranium Property from Rio Tinto Exploration Canada Inc. and Rio Tinto Canada Uranium Corporation. Hatchet Lake is adjacent to the Athabasca Basin of Saskatchewan, Canada, and 3.5 kilometres to the north west of Kivalliq’s Genesis Property.

As quoted in the press release:

Kivalliq has, subject to all necessary approvals, acquired 100% of Rio Tinto’s Hatchet Lake Uranium Property, subject to a 2% NSR:

13,711 hectares (33,880.6 acres) in six claims adjacent to the north-eastern margin of the Athabasca Basin in Saskatchewan and three and a half (3.5) kilometres to the north west of Kivalliq’s Genesis Property
Hatchet Lake is located 39 km along trend from the Roughrider uranium deposit and within 29 kilometres of Cameco’s Eagle Point uranium mine
Multiple unconformity related basement targets of interest based on results from recent work by Hathor Exploration Ltd and Rio Tinto, including geophysics, boulder, soil, lake sediment and bio-geochemical sampling
At least five priority target areas selected for follow-up exploration in 2015
Low net acquisition cost

Kivalliq CEO Jim Paterson, said:

The Hatchet Lake project fits well with Kivalliq’s strategy to add high quality uranium exploration projects to our portfolio at low acquisition costs,

Click here to read the Kivalliq Energy Corporation (TSXV:KIV) press release
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