The Conversation (0)
Kivalliq Energy (TSXV:KIV) and Roughrider Exploration (TSXV:REL) have announced final results from their 2014 Phase 1 exploration program at the Genesis Property. During the Phase 1 program, undertaken between July and September, exploration focused on the definition of near surface, basement-hosted, structurally controlled uranium targets analogous to the Millennium, Roughrider and Eagle Point deposits located southwest of the Genesis Property.
As quoted in the press release, highlights from the program included:
- The identification of six new priority target areas highlights the success of the 2014 Phase 1 Exploration Program: Jurgen 1, Jurgen 2, Johnston/GAP, Kingston, Daniel’s Bay and Sava Lake.
- Over 410 kilometres of linear EM conductors identified by airborne geophysical surveying.
- Prospecting samples at the newly added GAP claims, include two frost heaved subcrop occurrences that assayed 0.36% U3O8 and 1.40% U3O8 respectively.
- A boulder from a newly discovered float occurrence in the Jurgen Lake area assayed 1.41% U3O8.
- Several EL soil sample grids with multielement anomalies correlating to EM conductors; referred to as Jurgen 1 and Jurgen 2, two conductors returned characteristic apical and contact peak soil signatures yielding values of up to 44.1 parts per billion uranium (ppb U) and 17.2 ppb U respectively.
- Anomalous biogeochemical results with uranium values up to 20 ppb U at Daniels Bay correlate with an arcuate EM conductor and anomalous EL soil results.
- Anomalous biogeochemical results with uranium values up to 8 ppb U adjacent to the 16 kilometer long Sava Lake conductor (see REL news release of Oct 21, 2014).
- Lake sediment samples have identified a strong uranium value in a bay on the northeast end of Wollaston Lake and confirmed highly anomalous uranium values upon follow-up to historic results at Burrill Bay, Sava Lake and Melnick Lake target areas.
Kivalliq president, Jeff Ward, said:
Results from this Phase 1 geophysical and geochemical sampling program affirm our confidence in the exploration potential of the Genesis Property. Anomalous geochemical results correlate strongly to geophysically defined basement structures in several locations across the extent of the Genesis Property. We will leverage this new understanding to maximize our exploration success as we advance the project in 2015.
Click here to read the Kivalliq Energy Corporation (TSXV:KIV) press release
Click here to see the Kivalliq Energy Corporation (TSXV:KIV) profile.