VANCOUVER, Sept. 9, 2013 /CNW/ - Kivalliq Energy Corporation ("Kivalliq", TSX-V: KIV) today provided an update on activities conducted as part of the 2013 season at Kivalliq's 340,268 acre Angilak Property in Nunavut Territory. Assays received from 1538 geochemical samples collected within the Lac 50 Trend, and directly to the south in the Angikuni sub-basin, have identified new anomalous zones and prioritized existing zones for future exploratory and resource drilling.
Key Point Summary:
- The 2013 sampling program was designed to test the effectiveness of soil geochemical surveying within the Lac 50 Trend using a widely spaced sampling pattern. Given its success, a larger and more detailed future work program is justified.
- 387 anomalous uranium ("U") soil geochemical results (using a 75th percentile threshold) were reported over the entire width and length of the Lac 50 Trend, and along the new Nine Iron-KU Trend situated 5.5 kilometres south
- Anomalous values using the Enzyme Leach method ranged from 6.5 ppb U to 2,880 ppb U, with the highest assays corresponding to both known mineralization and high-priority geophysical targets not yet drilled
- Key uranium-in-soil anomalies occur at least 850 metres along strike in both directions from the J4/Ray inferred resource, and as a 500 metre wide by 2,600 metre long trend at the high priority Hot Zone
"The results from this targeted geochemical sampling program increase our confidence in the exploration potential of specific geophysical conductors along the entire Lac 50 Trend and have also prioritized several new geophysical targets," stated Kivalliq's president, Jeff Ward. "When interpreting these geochemical results, we have the advantage of knowledge gained through our exploration efforts over the past six years within the Lac 50 Trend. We will leverage this increased understanding to maximize our success in the 2014 exploration campaign."
Lac 50 Trend Summer 2013 Exploration Results
The majority of the 2013 soil geochemical sampling program was conducted within the three kilometre wide by 12 kilometre long Lac 50 Trend. The goal of the program was threefold: to confirm the effectiveness of the Enzyme Leach method by sampling known areas of mineralization; to test for extensions along strike or adjacent to current inferred resource areas and; to evaluate the potential mineralization of numerous geophysical conductors not yet tested by drilling.
The program was successful in all aspects with 387 anomalous uranium-in-soil results reported using the 75th percentile threshold. Anomalous uranium-in-soil trends, which exhibit highs between 19.4 ppb and 44.0 ppb U, correlate to known Lac 50 Trend deposits and associated geophysics. Linear uranium geochemical anomalies in high-priority zones like Blaze, Spark, Pulse and ML extend at least 600 metres beyond existing drill holes, demonstrating much more work is warranted in these areas. Additional highlights include the delineation of uranium geochemical trends extending 850 metres northwest (through the J1 Zone) and 1,200 metres southeast along the J4 VLF electromagnetic ("EM") conductor. Also of note, sampling in the Hot target area outlined a broad anomalous uranium-in-soil anomaly, measuring 500 metres wide by 2,600 metres long. The Hot Trend contains peak anomalous geochemical assays up to 2,880 ppb U, the highest in the Lac 50 area, and remains open along strike to the northwest.
In addition, three separate EM conductor targets located 3.8 kilometres northeast, 1.8 kilometres southeast, and 1.0 kilometre north respectively of Lac 50 Trend resources were given new priority based on the soil geochemical work. 78 soil samples collected in these areas assayed between 6.6 ppb and 76.2 ppb U. These results suggest uranium mineralization related to untested linear geophysical signatures occur at targets well outside the area of known Lac 50 Trend deposits.
These well-defined uranium-in-soil trends and peak U values outlined by the 2013 survey will be valuable when prioritizing geophysical conductors and selecting specific drill sites on future programs.
Nine Iron-KU Trend Results
Ground geophysical surveying performed in April 2013 has identified an EM conductive trend on new claims staked in October 2012 within the Proterozoic-age Angikuni sedimentary sub-basin south of the Lac 50 Trend. This new geophysical EM target is located approximately 5.5 kilometres south of, and parallel to the Lac 50 Trend resource and originates from the high-priority Nine Iron Zone, extending 8.1 kilometres to the northwest to what is now called the "KU Zone". Historic trenches in the KU Zone sampled by Urangesellschaft Canada Ltd. in 1980 were reported to include 1.9% U3O8 over 1.2 metres.
203 soil geochemical samples were collected in separate areas 5.8 kilometres apart and at either end of the Nine Iron-KU trend. 44 anomalous results, ranging from 6.6 ppb U to a peak of 30.6 ppb U, correlate well to both the KU trenches and the newly identified EM conductive trend which connects KU to Nine Iron.
For plots of the 2013 soil geochemical data, and for additional Angilak Property related data, tables and maps, please visit:
2013 Soil Sampling Program
The soil geochemical sampling program was part of a 2013 phase two summer work program at Angilak that also included; ongoing metallurgical/optimization studies, prospecting, mapping, camp upgrades and environmental monitoring. Overall, a total of 1,538 soil geochemical samples were collected along lines spaced approximately 200 to 300 metres apart using 50 metre stations. Soil samples were analysed at Activation Laboratories Ltd. ("Actlabs") in Ancaster, Ontario using the Enzyme Leach method. 387 anomalous results (25% of all samples taken) range from 6.5 ppb U to a high of 2,880 ppb U. Of these anomalous results, 387, 232, 154 and 77 reported in the 75th, 85th, 90th and 95th percentiles respectively. Anomalous ranges for Enzyme Leach uranium analyses were generated through statistical frequency analysis. Background was determined by the population mean after cutting significant outliers to the 99th percentile. Like the Lac 50 Trend inferred resource, anomalous uranium-in-soil was also generally associated with copper (Cu), molybdenum (Mo) and silver (Ag). 236 samples yielded anomalous Cu values > 75.0 ppb, 239 anomalous samples were > 4.0 ppb Mo, and 102 anomalous samples were > 0.4 ppb Ag. Table 1 shows value ranges and anomalous thresholds for elements of interest obtained by the 2013 Enzyme Leach soil sampling program.
|*U outliers cut to 99th percentile|
To verify and calibrate enzyme leach results, 64 soil geochemical orientation samples were analyzed at Actlabs using conventional soil geochemical assay methods and soil gas hydrocarbon testing. An additional 75 samples were submitted to SGS Canada Inc. in Vancouver, B.C. for mobile metal ion (MMI) and Pb isotope studies.
The Actlabs facility is accredited to international quality standards through the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025 (ISO/IEC 17025 includes ISO 9001 and ISO 9002 specifications) with CAN-P-1578 (Forensics), CAN-P-1579 (Mineral Analysis) and CAN-P-1585 (Environmental) for specific registered tests by the SCC. A 0.75g sample of -60 mesh B soil horizon is leached in an enzyme matrix containing a glucose oxidaze solution at 30oC for one hour, where it reacts with amorphous MnO2 dissolving it. Metals are then complexed with the gluconic acid present. Two controls for every 49 samples are leached in the same procedure. Solutions are analyzed on a Perkin Elmer ELAN 6000, 6100 or 9000 ICP/MS. Laboratory quality control (QC) includes blanks analysed every 49 samples and a repeat analysis on every 10th sample. Kivalliq's quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates in the field. All QA/QC results were within expectations.
Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person for Kivalliq, has reviewed and approved the scientific and technical information contained in this release. 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.
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 project partner Nunavut Tunngavik Inc. ("NTI") in order to advance the Angilak Property. 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 community engagement.
On behalf of the Board of Directors
James R. Paterson, CEO
Kivalliq Energy Corporation
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, including the budget and exploration program proposed for the Angilak Property, 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.
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
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