VANCOUVER, Jan. 13, 2014 /CNW/ - Kivalliq Energy Corporation ("Kivalliq", TSX-V: KIV) today announced that it has staked 36 mineral claims totalling 362,789
acres (146,815 hectares), northeast of Saskatchewan's Athabasca Basin
and along the prospective Western Wollaston Tectonic Domain. Kivalliq's
new, 100% owned "Genesis Property" commences 25 kilometres northeast of
the Eagle Point uranium mine and Rabbit Lake mill operated by Cameco
Corporation and extends 90 kilometres to the northeast along this
prospective geological and structural domain to the Manitoba border.
The Genesis Property covers 28 documented historic uranium showings and
several uraniferous boulder trains.
Saskatchewan is one of the world's most prolific uranium districts,
having both established infrastructure and a politically supported
uranium mining industry. The Genesis Property falls within Western
Wollaston Domain and the Wollaston-Mudjatik Transition Zone. These
zones host the majority of known Canadian uranium deposits and all of
Canada's operating uranium mines, which currently account for 15% of
the world's annual supply of uranium.
"The current uranium spot pricing environment continues to present
excellent opportunities to increase Kivalliq's exposure to, and
ownership of, high quality uranium projects," stated Kivalliq's CEO,
Jim Paterson. "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."
The Western Wollaston and the Wollaston-Mudjatik Transition Domains are
high-strain zones within reworked Archean and Paleoproterozoic rocks of
the Hearne Subprovince. This lithostuctural trend hosts the majority of
basement and unconformity type uranium deposits known in the Athabasca
Basin. The trend is marked by a regional magnetic low along the
boundary between primarily granitoid rocks of the Mudjatik Domain to
the west, and gneissic metasediments of the Wollaston Domain to the
Where the Western Wollaston Domain and the Wollaston-Mudjatik Transition
Zone extend to the northeast of the Athabasca Basin, Kivalliq
identified a highly favourable and relatively underexplored area based
on a range of criteria. Specific Genesis Property claim locations were
selected based on a compilation of publicly available regional and
property-scale geological, geophysical and geochemical data sets from
government sources and previous exploration groups. Numerous targets
recommended for follow-up by previous explorers remain untested.
Maps showing the location of the Genesis Property and regional data are
available at: http://kivalliqenergy.com/Uranium/Genesis
Kivalliq exploration efforts will focus on near surface,
basement-hosted, structurally controlled uranium targets analogous to
the Millennium, Roughrider, Eagle Point and Rabbit Lake deposits. Data
integration and interpretation is underway to prioritize targets and
refine budgets for future exploration programs.
Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person for
Kivalliq, has reviewed and approved the publicly available scientific
and technical information by previous exploration groups contained in
About Kivalliq Energy Corporation
Kivalliq Energy Corporation (TSX-V: KIV) is a Vancouver-based uranium
exploration company holding Canada's highest-grade uranium resource
outside of Saskatchewan's Athabasca Basin. Its flagship project, the
340,268 acre Angilak Property in Nunavut Territory, hosts the Lac 50
Trend with a NI 43-101 Inferred Resource of 2,831,000 tonnes grading
0.69% U3O8, totaling 43.3 million pounds U3O8. Kivalliq's comprehensive exploration programs continue to advance the
Lac 50 Trend and demonstrate the "District Scale" potential of the
Angilak Property. Kivalliq's team of northern exploration specialists
have forged strong relationships with sophisticated resource sector
investors and Angilak Property partner Nunavut Tunngavik Inc. ("NTI").
Kivalliq was the first company to sign a comprehensive agreement to
explore for uranium on Inuit Owned Lands in Nunavut Territory, Canada
and is committed to building shareholder value while adhering to high
levels of environmental and safety standards and proactive local
On behalf of the Board of Directors
James R. 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 toll free at 1.888.331.2269, at
604.646.4527, or by email at email@example.com
Kivalliq Energy Corporation is a member of the Aurora Mineral Resource
Group of companies, for more information please visit www.auroraresource.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release 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.
For disclosure related to the inferred resource for the Lac 50 Trend
uranium deposit, please refer to Kivalliq's news release of March 1,
2013. 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.
Cautionary Note concerning estimates of Inferred Resources:
This news release uses the term "inferred resources". Inferred resources
have a great amount of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility. It cannot be
assumed that all or any part of an Inferred Mineral Resource will ever
be upgraded to a higher category. Kivalliq advises U.S. investors that
while this term is recognized and required by Canadian regulations, the
U.S. Securities and Exchange Commission does not recognize it. U.S.
investors are cautioned not to assume that part or all of an inferred
resource exists, or is economically or legally mineable.
SOURCE: 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 toll free at 1.888.331.2269, at 604.646.4527, or by email at firstname.lastname@example.org