Kivalliq Energy Corporation (TSXV:KIV) announced that it has completed its summer exploration program at its Hatchet Lake property in the Athabasca region.
As quoted in the press release:
Kivalliq conducted its first exploration program at the 13,711 hectare (33,881 acre) Hatchet Lake property between June 1 and June 23. The focus was on multiple unconformity-related basement targets based on results from over $750,000 in previous exploration performed by Hathor Exploration Limited (Hathor) and Rio Tinto Canada Uranium Corporation (Rio Tinto).
Kivalliq’s 2015 summer program, budgeted at CDN$500,000, was comprised of prospecting, mapping, ground magnetometer / very low frequency (VLF) electromagnetic (EM) geophysical surveys, and biogeochemical (vegetation-black spruce) /soil geochemical surveys.
The program was designed to verify airborne geophysical signatures and confirm uranium anomalism in priority areas:
- Six target areas were evaluated based on existing datasets from previous exploration groups;
- 140 line kilometres of ground geophysical surveying refined and located airborne signatures;
- 908 soil and 1322 biogeochemical samples were collected in areas of historically reported uranium anomalism in boulders, soils, vegetation and lake sediments;
- Two high-priority zones, Upper Manson and SW Scrimes, have emerged based on preliminary findings;
- 24 radioactive rock samples (boulders and outcrop) have been sent for analysis.
The Upper Manson and SW Scrimes targets occur within north east trending pelitic and psammopelitic gneiss host rocks and were prioritized by uranium anomalism noted in historic samples from boulders, lake sediments, soils and vegetation coincident to EM conductive trends and interpreted structurally complexities. Kivalliq was able to confirm the location of anomalous boulders and outcrop reported in both the Upper Manson and SW Scrimes areas. Radioactive quartz- feldspar-biotite pegmatitic boulders, subcrop and outcrop were encountered during the program. Twenty-four rock samples with readings between 265 and 14,000 counts per second (cps) measured on a handheld scintillometer have been sent for assay analysis.
Jeff Ward, president of Kivalliq, commented:
High quality data collected between 2006 and 2012 by previous operators Hathor and Rio Tinto gave us a tremendous head start on Kivalliq’s first program at Hatchet Lake. By getting on the ground this summer, we enhanced the existing datasets and can determine next steps based on new prospecting, soil and biogeochemical program results which are expected sometime in August.