PROJECT UPDATE: Kivalliq Energy Moves into Saskatchewan

In a recent conversation with Kivalliq Energy‘s (TSXV:KIV) CEO Jim Paterson, he explained to Uranium Investing News that in terms of exploration, diversification leads to more options in the long run. Well, as of today it looks like the Nunavut-focused uranium exploration junior Kivalliq Energy (TSXV:KIV) is shaking things up just a little with some diversification of its own with the acquisition of mineral claims in the Saskatchewan.
Per the company’s January 13 press release, 36 mineral claims – a total of 362,789 acres – have been staked in Northeastern Saskatchewan along the prospective Western Wollaston Tectonic Domain and Wollaston-Mudjatik Transition Zone. These zones are host to the majority of Canada’s uranium deposits as well as all of Canada’s operating uranium mines. Currently, Canada supplies roughly 15 percent of the world’s annual uranium supply from this region. The Genesis property, as it is called, starts 25 kilometers northeast of Cameco’s Eagle Point uranium mine as well as the Rabbit Lake mill. Genesis also extends 90 kilometers along a prospective geological structure that extends towards the Manitoba border.
In an email from Cantor Fitzgerald, Rob Chang writes that Kivalliq’s acquisition of the Genesis property helps diversify the company’s Nunavut focus, which is always a good thing. And while Chang remains positive on the potential of Kivalliq’s flagship Angilak project as well as the high- grade Lac 50 Trend, the Genesis property is another property that can provide value to investors.
Furthermore, Kivalliq’s acquisition presents the company with a project that – given its location – has a lower cost profile, while also gives the company exposure to a uranium district that has caught investors’ attention.
Paterson explained in a company statement that the current price environment presented an excellent opportunity for the company to increase its exposure and ownership of high-quality uranium assets. That being said, Paterson stated that “Our goal is to complement Kivalliq’s existing resource base at Angilak and exploration potential at Baker Basin, by employing our team’s considerable northern exploration and Saskatchewan uranium experience to make significant discoveries at the Genesis Property.”
 
Securities Disclosure: I, Vivien Diniz, hold no investment interest in any of the companies mentioned. 
Editorial Disclosure: Kivalliq Energy is a client of the Investing News Network. This article was not written as part of Kivalliq’s advertising campaign.