Kivalliq Energy has begun the Phase 1 of its 10000mt 2010 diamond drill program on the high-grade Lac Cinquante Uranium Deposit situated within the 225,000 acre Angilak Property in Nunavut Territory, Canada.
The company said that drilling at Lac Cinquante in 2009 had confirmed high-grade uranium mineralization in a near vertical vein style zone over 900mt of strike length and down to 125mt vertical depth.
Mineralized zones are hosted within Archean basement rocks and are associated with a hematite-carbonate-chlorite-graphite altered tuff unit consisting of pitchblende veins and sulphides. The mineralization at Lac Cinquante remains open along strike and to depth.
The main objectives for the two phased 2010 program are to establish a 43-101 compliant resource at Lac Cinquante and to conduct additional exploratory drilling to demonstrate the deposit’s expansion potential, the company added.
In addition, prospecting, sampling, and drilling will test high-priority targets along the length of the 9km Lac Cinquante geophysical trend and elsewhere within the Angilak Project area.
The company has also initiated a program of metallurgical and environmental baseline studies. The Phase 1 spring program will consist of approximately 3000mt of diamond drilling as part of the planned 10000mt 2010 drill program and will be focused on confirmation and infill drilling within the historic resource area.
Phase 2 of the program will consist of drilling, prospecting, sampling and summer field studies with the fourth quarter of 2010 dedicated to technical and engineering analysis and the goal of establishing a 43-101 compliant mineral resource by early 2011.
Kivalliq’s core asset, the 225,000 acre Angilak Project is comprised of the Lac Cinquante uranium deposit, reported to contain 20.4 million pounds of uranium oxide with grades in excess of 1% U3O8 (not National Instrument 43-101 compliant) and over 150 other uranium occurrences.