The Conversation (0)
Kivalliq Energy’s (TSXV:KIV) joint venture with Roughrider Exploration (TSXV:REL), Genesis, on the Athabasca Basin, was featured on The Northern Miner. Kivalliq and Roughrider are in the middle of planning a summer exploration program.
As quoted in the article:
Roughrider and Kivalliq subsequently completed a follow-up program in March composed of additional grid geophysics and biogeochemical sampling at Jurgen 1 and 2.
“What I find interesting is that, historically, people would have just gone out and said: ‘Well we’ve found a conductor; let’s start drilling.’ Given the way the markets are, I believe we need to be a lot smarter about how we’re defining targets,” Wallster explains.
“We need to get as much bang for our buck as we can, so I think the way to go is using that geochemistry to prioritize the EM targets. Then we follow that up with further ground geophysics and biogeochemistry to really define the drilling,” he adds.
The article also discusses Kivalliq’s Hatchet Lake project:
The other side of the story for Kivalliq is the nearby Hatchet Lake project, which it acquired from Rio Tinto for $220,000 in cash and a 2% net smelter returns royalty in early February. Ward points out that Hatchet has around $750,000 in exploration data from programs conducted by Rio and Hathor, with many of the previous target-generation techniques mirroring efforts underway at Genesis.
Hathor collected 420 lake-sediment samples at the site and flew versatile time domain electromagnetic (VTEM) surveys that defined 30 individual conductive trends with a combined strike length of 53 km. In 2008, Hathor collected an additional 837 soil and 215 rock samples, with 19 of the samples returning assays greater than 0.2% U308.
Subsequent exploration by Rio included 306 soil samples, 1153 biogeochemical samples and 31 rock samples. Rio’s work identified soil anomalies coincident with boulder trains and outcrops, as well as geochemical signatures associated with uranium mineralization.
“I firmly believe we’re looking at some of the most prospective ground for uranium that exists. The absolute key to exploration in the area is that you’ll be looking at relatively short drill holes,” Wallster says. “The targets aren’t at significant depths below surface, although you could have uranium mineralization at four to five hundred metres. But you’ll be looking for relatively shallow deposits that potentially outcrop at surface. The critical thing is you’ll be able to drill with greater efficiency.”
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