Western Extension Drilling Intersects Deepest Mineralization to Date
October 5, 2011
Vancouver, B.C. - Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today provided an update on diamond drilling at the Western Extension zone, located 450 metres along strike and west of the high grade Lac Cinquante uranium deposit. Six of seven holes, recently drilled from two set ups designed for deep intercepts, have intersected highly radioactive intervals at vertical depths ranging from 193 to 327 metres.
“These holes have the deepest known radioactive intervals to-date on the Angilak Property,” stated President Jeff Ward, P.Geo. “Since drilling began in 2009, we have consistently intersected uranium mineralization at relatively shallow depths over 2.3 kilometres of combined strike along the Lac Cinquante trend. These new deep intervals clearly demonstrate the potential to expand significant uranium mineralization to much greater depths.”
The Western Extension has a known strike length of 550 metres and starts 450 metres to the west, and along strike, of the Lac Cinquante main zone resource area. 9,468 metres in 54 diamond drill holes tested a northwest trending VLF EM conductor which exhibited a response similar to that of the Lac Cinquante deposit. Drilling from 17 set-ups spaced on 50 metre drill sections intersected radioactive intervals down to depths of 250 metres vertically. The two recent set-ups were spaced 100 metres apart and collared further back in order to target the Western Extension at depth below the original fences.
Mineralization is similar to that found at Lac Cinquante, but is structurally hosted in altered basalt rather than a tuffaceous unit. Radioactive intervals are associated with sheared, chlorite-carbonate altered basalt with minor brecciation and sulphides. Hematized quartz-carbonate veining is common in this zone.
All core holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 55 and 75 degrees. Six of seven deep holes (11-LC-109, 115 to 120) confirmed the down dip extension of a highly radioactive shear zone, with gamma values ranging from 250 to 34,000 counts per second (CPS), over intervals up to 2.2 metres estimated true width.
43 of 54 holes drilled at the Western Extension have now intersected anomalous radioactivity between 30 and 327 metres vertical depth, in a zone dipping roughly 65 degrees to the southwest. Kivalliq announced initial assays from 17 diamond drill holes at the Western Extension on August 25, 2011. Final assays from Western Extension are pending.
To view a drill plan map related to this news release and all cross sections and maps from the 2011 exploration program please visit http://kivalliqenergy.com/projects/angilak/program_images/
Half-spilt core samples from holes drilled at the Western Extension have been sent to Saskatchewan Research Council Geoanalytical Laboratories (SRC) for analysis. The SRC facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration laboratories and is accredited by the Standards Council of Canada. Kivalliq’s quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Chemical assay results from this drill program will be reported by Kivalliq upon receipt.
Natural gamma radiation in drill core was measured in counts per second (CPS) using a hand-held Radiation Solutions Inc. RS-121 scintillometer. The Company cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.
Disclosure of a technical nature contained in this release has been reviewed and approved by Kivalliq’s President, Jeff Ward, P.Geo. Mr. Ward is the Qualified Person for the purposes of National Instrument 43-101.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation is a uranium exploration and development company, and the first company in Canada to sign a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut.
With an NI 43-101 compliant Inferred Mineral Resource of 810,000 tonnes grading 0.79% U3O8, totaling 14.15 million lbs U3O8 (17.5 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada’s highest grade uranium deposit outside of the Athabasca Basin. Kivalliq’s flagship project, the 225,000 acre Angilak Property in Nunavut, hosts the high-grade Lac Cinquante deposit, along with nine additional high priority target areas. Since acquiring the Angilak Property in 2008, the Company has invested approximately $25 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 meters of drilling.
On behalf of the Board of Directors
James Paterson, CEO
Kivalliq Energy Corporation
For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Investor Relations at 1.888.331.2269 toll free, directly at 604.646.4527 or by email at firstname.lastname@example.org.
Kivalliq Energy Corporation is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.
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Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.