Kivalliq Energy (TSXV:KIV) announced the start of its CDN$500,000 summer exploration program at its Hatchet Lake property in Saskatchewan. Crews have been mobilized to the Points North/project area, with work focused on multiple unconformity-related basement targets.
Hatchet Lake is 39 kilometres along trend from Rio Tinto’s Roughrider deposit, within 29 kilometres of Cameco’s Eagle Point uranium mine. The Property was initially staked for its potential to host significant uranium.
As quoted in the press release:
Kivalliq has started the Company’s first exploration program at the 13,711 hectare (33,881 acre) Hatchet Lake Property, with crews mobilized to Points North/project area in the first week of June. This summer’s exploration will focus on multiple unconformity-related basement targets based on results from over $750,000 in previous exploration performed by Hathor Exploration Limited and Rio Tinto Canada Uranium Corporation (Rio Tinto).
The proposed summer program is budgeted at CDN$500,000 and includes prospecting, mapping, geochemical sampling and ground geophysics to verify airborne geophysical signatures in priority target areas.
Hatchet Lake is located 39 kilometres along trend from Rio Tinto’s Roughrider deposit and within 29 kilometres of Cameco Corporation’s Eagle Point uranium mine. The Hatchet Lake Property was initially staked for its potential to host significant uranium deposits, being situated on the Mudjatik-Wollaston Transition Zone and along strike from world class mines such as McArthur River and Cigar Lake.