January 12, 2012
Vancouver, B.C. - Kivalliq Energy Corporation (KIV:
TSX-V) (the "Company" or "Kivalliq") today announced
results from the 2011 summer prospecting program at the
225,000 acre Angilak Property in Nunavut, Canada. 273
prospecting samples were collected in priority areas across
the property with highlights and a summary of results
disclosed herein.
"The number of new, high-grade mineral showings identified by
Kivalliq's prospecting team in 2011 highlight the
polymetallic nature of mineralization on the Angilak
Property," stated Kivalliq's President, Jeff Ward, P. Geo.
"The 2011 prospecting program has increased our confidence in
the district scale potential of Angilak, and has
provided us with excellent drill targets for 2012."
2011 Prospecting Program Highlights
- 273 rock samples collected, with 10% (27 samples) exceeding 1% U3O8, along with multiple samples containing significantly anomalous silver (Ag), copper (Cu), and (Pb) lead values
- "BIF" Zone - High-grade U-Cu-Mo-Ag veins sampled along a 3 km shear zone and geophysical trend
- "AG" Showing - 21,600 g/t Ag (626.4 oz/ton) assay from a native silver occurrence discovered in subcrop
- "Taluaq" - New claims staked to secure a prominent 2 km by 10 km ovoid magnetic feature with initial samples showing polymetallic potential
- VGR mineralized geophysical trend was extended to 4 km in strike length
Highlights from Assays
- 20.00% U3O8, 107.0 g/t Ag, 12.70% Cu, 5.02% Pb - (Sample 1828) Force
- 23.80% U3O8, 114.0 g/t Ag, 0.81% Cu, 5.90% Pb, 0.58% Mo - (Sample 1839) BIF Zone
- 16.00% U3O8, 321.0 g/t Ag, 5.38% Pb, 0.76% Mo - (Sample 1860) BIF Zone
- 30.30% U3O8, 163.0 g/t Ag, 5.16% Cu, 22.90% Pb - (Sample 1983) BIF Zone
- 21,600 g/t Ag; 301.0 g/t Ag, 1.16% Cu - (Samples 1801 and 1802) AG Showing
For maps of priority areas from Kivalliq's prospecting
programs and a table of key results, please visit
2011 Prospecting Program
A prospecting crew was active for 3 months between June and
September, mapping and collecting grab samples from outcrop,
subcrop and glacial float across the Angilak property. This
work was able to advance existing high priority areas and
identify several new mineralized zones on the property. Of
the 273 grab samples collected, 163 are considered to
represent in-situ bedrock sources, with the remaining 110
samples taken from cobbles and boulders found in glacial
till. In addition, 10% (27 samples) returned assays in excess
of 1% U3O8, with many having significant silver, copper,
molybdenum, lead and zinc values.
BIF Zone
High-grade U-Cu-Mo-Ag assays in samples from multiple veins
(1 to 3 cm wide) and boulders were identified at the new
"BIF" zone, located approximately 10 km from Lac Cinquante.
Results include 13 of 25 grab samples exceeding 1% U3O8 and 5
samples with over 15% U3O8 taken along the strike length of a
geophysical anomaly and related mineralized structure. The
BIF uranium occurrence is associated with a 3 km long
reactivated shear zone on the margin of the Yathkyed
Greenstone Belt, and within a package of mylonitized iron
formation and tuffaceous volcano-sedimentary rock. A
ground VLF and magnetic survey carried out in the area of
highly anomalous samples will be the focus of future work and
drilling in 2012. A map of the BIF zone is available at
Highlight samples from the BIF Zone:
- 30.30% U3O8, 163.0 g/t Ag, 5.16% Cu, Cu, 22.90% Pb - (Sample 1983) outcrop
- 23.80% U3O8, 114.0 g/t Ag, 0.81% Cu, 5.90% Pb, 0.58% Mo - (Sample 1839) outcrop
- 17.90% U3O8, 38.3 g/t Ag, 0.15% Cu, 6.00% Pb, 0.45% Mo - (Sample 1833) outcrop
- 16.60% U3O8, 51.3 g/t Ag, 0.05% Cu, 3.67% Pb, 0.95% Mo - (Sample 1836) float
- 16.00% U3O8, 321.0 g/t Ag, 5.38% Pb, 0.76% Mo - (Sample 1860) outcrop
AG Showing
Of note is a new native silver occurrence discovered
approximately 7.5 km east of the Lac Cinquante uranium
deposit. Carbonate and quartz veins in a sheared tuff unit
contain significant Ag values ranging from 10 to 301 g/t in
14 of 21 grab samples, with 21,600 g/t in one grab. The veins
appear to be barren of uranium, but can contain significant
concentrations of Cu, Pb, and Zn. Mineralization and veins
are exposed over 65 m strike length, with a width of
approximately one metre. To date, only one discontinuous
high-grade Ag vein has been identified, but it is situated at
the end of a 1 km long VLF-EM conductor which could host
additional Ag and polymetallic veins. A single 80 m long
inclined drill hole (11-AG-001) tested the western end of the
VLF-EM conductor with no significant results.
Force
The Force area, located in the central part of the Angilak
property, straddles a major northeast trending fault zone
which cuts through Archean basement gneisses and Proterozoic
ultrapotassic intrusions. Prospecting in 2010 and 2011 has
identified U-Cu-Pb-Ag veins in outcrop and subcrop at two
main zones 200 m apart along this fault zone. Three
additional grab samples collected in 2011 confirm high grades
identified in 2010, with the best assaying 20.00% U3O8,
12.70% Cu and 107.0 g/t Ag. Due to difficult ground
conditions, only two of four RC test holes were completed to
depth. No significant radioactivity was intersected in either
hole, however favourable geophysics, geology, high grade
boulders and significant Quaternary cover suggest further
work is warranted.
Taluaq
In late summer, prospectors investigated a prominent 2 km by
10 km magnetic geophysical feature just north of the Angilak
property boundary. Ten claims were staked over this ovoid
signature which could represent a large, high-level
subvolcanic intrusion with associated mineralization.
Follow-up work resulted in the discovery of disseminated and
stockwork base metal mineralization in syenitic boulders and
outcrop, now named the "Taluaq" zone. Assay results from 4
grab samples have elevated concentrations of Cu
(0.06%-0.69%), Pb (0.14%- 4.95%), Zn (0.04%-3.3%), and Ag
(1.2-110 g/t). Although no uranium was encountered, only a
fraction of the magnetic anomaly has been investigated and
future work will focus on assessing the uranium and REE
potential, as well as polymetallic mineralization in the
syenitic intrusion.
VGR
Several significant showings discovered along the VGR trend
in 2010 were revisited in 2011, including the highly
prospective VGR fault system itself. The VGR trend hosts a 3
to 7 m wide, steeply