Kivalliq Energy Corporation: First High Grade Assays Reported From New Eastern Extension Zone
October 27, 2011
Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today provided assay results from diamond drilling at the Eastern Extension, located 400 metres along strike and east of the high grade Lac Cinquante uranium deposit, located within the 225,000 acre Angilak Property in Nunavut, Canada. Assay results disclosed in this release are from the first 24 of 44 holes drilled in total at the Eastern Extension.Highlights include:
• 2.65% U3O8, 134.63 g/t Ag, 0.06% Cu,1.67% Mo over 0.5 metres in 11-LC-094
• 2.33% U3O8, 61.40 g/t Ag, 0.16% Cu, 0.57% Mo over 0.4 metres in 11-LC-092
• 1.84% U3O8, 16.63 g/t Ag, 0.55% Cu, 0.07% Mo over 1.0 metres in 11-LC-096
• 1.00% U3O8, 27.75 g/t Ag, 0.09% Cu, 0.39% Mo over 1.0 metres in 11-LC-093
• 0.75% U3O8, 31.23 g/t Ag, 0.07% Cu, 0.46% Mo over 1.4 metres in 11-LC-084
• Eastern Extension strike length is 550 metres; future drilling will test along strike and to depth
• Assays pending from an additional 20 drill holes at Eastern Extension
(Estimated true widths – see assay results table below)
“The discovery of the Eastern Extension was the direct result of our RC drilling strategy,” stated President Jeff Ward. “These assays underpin the growing importance of the Lac Cinquante trend, and like the Western Extension, will go towards revising the resource estimate for Lac Cinquante by the end of Q1, 2012.”
Eastern Extension
The discovery of the Eastern Extension was initially made by testing a northwest trending linear VLF EM conductor similar to Lac Cinquante, using six reverse circulation (RC) holes drilled from three set-ups. Two diamond drills were then deployed to delineate the Eastern Extension, with 6,143 metres in 44 holes drilled from 13 set-ups spaced on 50 metre drill sections.
The results reported herein comprise the first set of assay results from 24 holes drilled at the Eastern Extension. The Eastern Extension has a drilled strike length of 550 metres and starts approximately 400 metres to the east, and along strike, of the Lac Cinquante main zone resource area.
All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 90 degrees. 39 of 44 holes intersected anomalous radioactivity between 34 and 257 metres vertical depth. Both RC and diamond drilling have confirmed the continuation of the Lac Cinquante structure eastward with uranium mineralization occurring in a zone dipping roughly 72 degrees to the southwest. Additional assays from the Eastern Extension will be released upon receipt and review.
Mineralization is very similar to that found at Lac Cinquante, primarily hosted in the same hematite-carbonate-chlorite-graphite altered tuff unit. Uranium is associated with quartz-carbonate veining, breccia and sulphides within the sheared host rock.
For a summary of the 2011 exploration program at Angilak, please see news release from October 18, 2011. To view related cross sections and drill plan maps, please visit:
http://kivalliqenergy.com/projects/angilak/program_images/
View press release Kivalliq Energy Corporation: First High Grade Assays Reported From New Eastern Extension Zone here.
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