Post by
nobodyno on Nov 08, 2016 8:42am
News, good news, as expected>
Kivalliq Announces Results from 2016 Exploration at Angilak; Yat Channel Samples Return High-Grade Precious Metal and Uranium Values November 8, 2016 Vancouver, B.C. Kivalliq Energy Corporation (KIV: TSX-V) (Kivalliq) today announced results from Kivalliqs 2016 summer exploration program at the Yat and Dipole Target areas of Kivalliqs 100% owned, 89,852 hectare Angilak Property in Nunavut Territory, Canada. We are excited that the 2016 work at Yat has confirmed high grade precious metal and uranium values from earlier programs are linked to local bedrock occurrences, in addition to kilometer-scale geochemical and geophysical signatures, stated Kivalliq President Jeff Ward. Furthermore, soil sampling around the recent Dipole uranium discovery extended uranium anomalies to over 3.5 kilometres, thereby giving high grade zones drilled at Dipole significant strike potential. Highlights A trenching program at Yat collected rock samples from both bedrock and frost heaved boulders. Results confirm high grade polymetallic U-Cu-Ag-Au (Pt-Pd) mineralization identified in boulders are derived from localized bedrock sources. Highlight channel sample assays include: 2.50% U3O8, 16.2% Cu, 417 g/t Ag & 1.3 g/t Au across 0.5 m in Trench Kiv-16-T03 0.32% U3O8, 373 g/t Ag, 2.9 g/t Au & 6.4 g/t Pd across 0.65 m in Trench Kiv-PO-T05 Highlight frost heaved boulder sample assays include: 23.6% U3O8, 22.7% Cu, 879 g/t Ag & 5.3 g/t Au at Trench Kiv-16-T03 3.0% U3O8, 1.3% Cu, 3200 g/t Ag, 43.3 g/t Au, 7.8 g/t Pt & 56.3 g/t Pd at Trench Kiv-PO-T05 Results from 704 enzyme leach (EL) soil samples collected in 2016 has further outlined multiple anomalous uranium in soil trends at Yat and Dipole. At Yat, a pronounced uranium in soil anomaly has been defined along a strike length of 1.6 km coincident to the Yat electromagnetic (EM) conductor. A corroborating enzyme leach silver in soil anomaly occurs along the same trend. At Dipole, a strong uranium in soil anomaly has been defined along a strike length of 0.6 km over a conductive trend parallel to the Dipole structure and 1.5 km to 2.1 km northeast of the high grade uranium values drilled in 2015. Maps and images of the work performed in 2016 at the Yat Target and the Dipole Trend can be viewed at: https://www.kivalliqenergy.com/uranium/angilak/maps/. Yat Target The Yat Target is located near the northern margin of the Angikuni Basin, 15 km southwest of Lac 50 and 10 km northeast of the high grade uranium intercepts discovered by drilling at Dipole in 2015. Mineral occurrences at Yat locally comprise a 100 m long string of sulphide-bearing radioactive subcrops and historic pits in basin conglomerate and sandstone. Yat is characterized by a strong 250 m wide magnetic low with coincident high grade polymetallic U-Cu-Ag-Au (Pt-Pd) mineralized zones. A discreet EM conductor strikes northeast at 045o through the centre of the magnetic response. Work in the late 1970s and early 1980s included U-Cu-Mo-Ag-Pb soil surveys, trenching and four drill holes. There is no historic record of rock analysis for Au, Ag, or PGMs. Work by Kivalliq between 2007 and 2012 included ground gravity, Mag-VLF surveys, and four shallow reverse circulation holes nearby that did not intersect significant mineralization. A grab sample from brecciated quartz-carbonate veined glacial float collected on the south east margin of the Yat magnetic response returned the highest precious metal assays ever reported from the Angilak Property with 1.82% U3O8, 6.8% Cu, 211 g/t Au, 80,900 g/t Ag, 3.1 g/t Pt and 6.7 g/t Pd (See news release November 10, 2015) In July 2016, a trenching program was undertaken in the area of the high grade polymetallic boulders and historic pits using a heli-portable excavator. The objective was to find a localized bedrock source for the high grade boulder mineralization at a site with shallow glacial till overburden. Trenches were excavated to bedrock with a maximum depth of about 2.0 m, the depth limit of the excavator. Radioactive, brecciated carbonate veining with sulphides, secondary yellow uranium staining and malachite was identified in several trench areas. Mineralization occurs as 1.0-1.5 m wide structural zones of narrow veins and stringers in sandstone, conglomerate and Christopher Island volcanics of the Proterozoic Angikuni Basin, striking northeast and parallel to the larger Yat EM conductor. Mineralized veins within these structural zones are generally narrow (< 5="" cm="" wide)="" but="" in="" places="" exceed="" widths="" of="" 20="" cm.="" veining="" and="" adjacent="" wall="" rocks="" were="" channel="" sampled="" using="" a="" diamond="" rock="" saw.="" mineralized="" subcrop="" and="" boulders="" encountered="" while="" excavating="" were="" also="" sampled.="" a="" total="" of="" 100="" samples="" were="" collected="" with="" the="" 2016="" program.="" highlights="" include="" channel="" sample="" 18924="" from="" trench="" kiv-16-t03="" which="" assayed="" 2.50%="" u3o8,="" 16.2%="" cu,="" 417="" g/t="" ag="" and="" 1.3="" g/t="" au="" over="" a="" width="" of="" 0.5="" m="" that="" included="" a="" 15="" cm="" wide="" brecciated="" carbonate="" vein="" with="" strong="" malachite="" and="" channel="" sample="" a00560="" from="" trench="" kiv-po-t05="" which="" assayed="" 0.32%="" u3o8,="" 0.10%="" cu,="" 373="" g/t="" ag,="" 2.9="" g/t="" au="" and="" 6.4="" g/t="" pd="" across="" a="" width="" of="" 0.65="" m="" that="" included="" a="" 10="" cm="" wide="" white="" brecciated="" carbonate="" vein.="" highlight="" grab="" samples="" collected="" from="" boulders="" found="" while="" excavating="" the="" trenches="" include="" sample="" a00619="" with="" 23.6%="" u3o8,="" 22.7%="" cu,="" 879="" g/t="" ag="" &="" 5.3="" g/t="" au="" from="" till="" cover="" at="" trench="" kiv-16-t03="" and="" sample="" 18939="" with="" 3.0%="" u3o8,="" 1.3%="" cu,="" 3200="" g/t="" ag,="" 43.3="" g/t="" au,="" 7.8="" g/t="" pt="" &="" 56.3="" g/t="" pd="" from="" till="" cover="" at="" trench="" kiv-po-t05.="" 2016="" soil="" geochemistry="" program="" the="" 2016="" summer="" program="" included="" the="" collection="" of="" 704="" soil="" samples="" for="" enzyme="" leach="" (el)="" analysis.="" the="" majority="" of="" these="" samples="" were="" collected="" at="" 50="" m="" intervals="" along="" sample="" lines="" spaced="" 100="" m="" apart="" on="" a="" 1.2="" km="" by="" 1.2="" km="" grid="" centered="" over="" the="" yat="" magnetic="" low="" and="" historic="" trenches.="" the="" grid="" was="" also="" designed="" to="" cover="" 1.6="" kms="" of="" the="" main="" yat="" conductor,="" an="" em="" linear="" that="" strikes="" northeast="" at="" 045o="" through="" the="" centre="" of="" the="" yat="" magnetic="" feature,="" approximately="" 75="" m="" northwest="" (up-ice)="" and="" parallel="" to="" the="" structurally="" controlled="" high="" grade="" polymetallic="" mineralization="" sampled="" by="" the="" 2016="" yat="" trenching="" program.="" a="" pronounced="" el="" uranium="" in="" soil="" anomaly="" (measured="" in="" ppb)="" has="" been="" defined="" along="" the="" full="" 1.6="" km="" strike="" length="" of="" the="" yat="" em="" conductor="" covered="" by="" the="" 2016="" soil="" grid.="" a="" silver="" in="" soil="" anomaly="" is="" also="" present="" along="" this="" trend,="" corroborating="" the="" ag-u="" association="" seen="" in="" the="" mineralized="" trenches.="" additionally,="" a="" distinctive="" el="" uranium="" in="" soil="" anomaly="" overlies="" a="" parallel="" conductor,="" approximately="" 0.5="" km="" southeast="" of="" the="" yat="" em="" conductor.="" as="" part="" of="" the="" 2016="" program,="" additional="" el="" samples="" were="" collected="" to="" extend="" the="" 2014="" soil="" grid="" along="" the="" dipole="" trend="" where="" drilling="" in="" 2015="" discovered="" significant="" uranium="" mineralization="" associated="" with="" the="" dipole="" conductor="" and="" a="" pronounced="" el="" uranium="" anomaly="" in="" soils.="" (see="" news="" release="" july="" 30,="" 2015)="" results="" from="" the="" 2016="" samples="" have="" defined="" a="" new="" el="" uranium="" in="" soil="" anomaly="" with="" a="" strike="" length="" of="" 0.6="" km="" that="" overlies="" a="" parallel="" em="" conductor="" 1.5="" km="" to="" 2.1="" km="" northeast="" of="" the="" dipole="" drill="" holes.="" these="" new="" results="" extend="" uranium="" in="" soil="" anomalies="" to="" over="" 3.5="" kilometres="" along="" the="" dipole="" trend.="" table="" 2.="" shows="" value="" ranges="" and="" anomalous="" thresholds="" for="" elements="" of="" interest="" from="" the="" combined="" 2014-2016="" el="" soil="" sampling="" programs="" at="" yat="" and="" dipole.="" the="" 2016="" summer="" program="" confirmed="" yat="" as="" a="" priority="" target="" by="" identifying="" silver="" and="" uranium="" trends="" in="" soil="" along="" a="" 1.6="" km="" long="" em="" conductor,="" and="" by="" confirming="" that="" high="" grade="" polymetallic="" prospecting="" samples="" are="" locally="" derived="" and="" related="" to="" sub="" parallel="" structural="" zones="" in="" trenches.="" the="" program="" also="" extended="" the="" strike="" potential="" of="" uranium="" zones="" drilled="" at="" dipole="" by="" identifying="" strong="" uranium="" in="" soil="" values="" along="" trend="" and="" coincident="" to="" a="" parallel="" conductor="" 2.1="" km="" northeast="" of="" dipole.="" as="" demonstrated="" by="" the="" discovery="" of="" uranium="" at="" dipole="" in="" 2015,="" the="" integration="" of="" soil="" geochemical="" sampling="" and="" geophysical="" surveying="" has="" proven="" to="" be="" effective="" for="" successfully="" targeting="" basement="" hosted="" uranium="" mineralization="" at="" angilak.="" drill="" testing="" of="" the="" multiple="" coincident="" geochemical-geophysical="" targets="" defined="" by="" the="" 2016="" exploration="" program="" at="" both="" yat="" and="" dipole="" is="" warranted.="" in="" addition="" to="" el="" soil="" sampling="" and="" trenching,="" kivalliq="" staff="" collected="" 172="" soil="" samples="" for="" conventional="" icp="" geochemical="" comparative="" analysis="" at="" yat.="" results="" showed="" similar="" results="" to="" the="" 2016="" enzyme="" leach="" sampling.="" kivalliq="" staff="" also="" collected="" 41="" twenty="" kilogram="" heavy="" mineral="" samples="" located="" down-ice="" (south-southeast)="" from="" 13="" circular="" geophysical="" responses="" characteristic="" of="" kimberlitic="" intrusions.="" heavy="" mineral="" concentrates="" from="" these="" samples="" will="" be="" picked="" and="" analysed="" for="" gold="" grains="" and="" kimberlite="" indicator="" mineral="" grains="" by="" cf="" minerals="" in="" kelowna="" bc.="" results="" from="" this="" work="" are="" pending.="" qa/qc="" enzyme="" leach="" (el)="" soil="" samples="" were="" sent="" to="" activation="" laboratories="" ltd.="" (actlabs).="" 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="" standards="" council="" of="" canada="" (scc).="" for="" el="" soil="" sample="" analysis,="" a="" 0.75="" gram="" sample="" of="" b="" soil="" horizon="" is="" leached="" in="" an="" enzyme="" matrix="" for="" one="" hour,="" where="" it="" reacts="" with="" amorphous="" mno2="" dissolving="" it.="" metals="" complex="" with="" the="" acid="" present="" and="" solutions="" are="" analyzed="" and="" reported="" in="" ppb="" with="" a="" detection="" limit="" of="">0.1 ppb U. QA/QC includes field standards, blanks and duplicates, and those inserted by the Actlabs. All QA/QC results were within expectations. Rock samples and conventional soil samples were sent to the Saskatchewan Research Council (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. Conventional soil samples undergo standard geochemical analysis using ICP-MS. Rock samples are analyzed by SRC's ICP-OES multi-element Uranium exploration ICP1 method. ICP results U>1,000 ppm are analyzed using SRC's ISO/IEC 17025:2005-accredited U3O8 Assay method. Laboratory quality control (QC) includes a repeat analysis on every 20th sample. Certain samples were also subject to SRCs Au3 standard Fire Assay procedures for Au, Pt and Pd. All QA/QC results for rocks samples and soil samples were within expectations. Previous exploration results by Noranda Exploration Ltd. and Pan Ocean Oil Ltd. reported herein are historic in nature and although not verified by Kivalliq, this work was carried out by knowledgeable explorers using acceptable industry practices at the time. 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. About Kivalliq Energy Corporation Kivalliq Energy Corporation (TSX-V: KIV) is a Vancouver-based company with a portfolio of high-quality uranium exploration projects in Canada. Kivalliq holds Canadas highest-grade uranium resource outside of Saskatchewan. The Companys flagship project, the 89,852 hectare 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. Kivalliqs comprehensive exploration programs continue to demonstrate the District Scale potential of the Angilak Property. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to Kivalliqs news release of March 1, 2013. In Saskatchewan, Kivalliq holds a 100% interest in the recently acquired 13,711 hectare Hatchet Lake Property adjacent to the north-eastern margin of the highly prolific uranium-producing Athabasca Basin. Compilation of results from previous exploration by Hathor Exploration Limited and Rio Tinto have identified multiple, priority unconformity-related basement targets at Hatchet Lake that were followed up in 2015. Kivalliq also holds a 100% interest in the 200,909 hectare Genesis Property located northeast of Saskatchewans Athabasca Basin, with Roughrider Exploration Limited funding the current exploration program pursuant to an option to acquire up to an 85% interest in the property. This highly prospective project is located along the Wollaston-Mudjatik trend and extends 90 km northeast from Wollaston Lake to the Manitoba border. Kivalliqs team of northern exploration specialists has 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 community engagement. On behalf of the Board of Directors "Jim Paterson" 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 info@kivalliqenergy.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. 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.