AskMuncher
3 years ago
$KVLQF ValOre Provides Update on Trapia Resource Expansion Drilling, Pedra Branca
Press Release | 09/02/2021
VANCOUVER, British Columbia, Sept. 02, 2021 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX-V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on resource expansion drilling at the Trapia 1 and Trapia 2 target areas (“Trapia”), of ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
“PGE assay results from ValOre’s 2020 and 2021 Trapia drill programs illustrate the significant potential for resource expansion. We have now tripled the strike length of known PGE mineralization at Trapia 1 and increased Trapia 2 strike length by a factor of five,” stated ValOre’s VP of Exploration, Colin Smith. “We eagerly await the recalculation of Trapia’s resource estimates, which we expect to initiate in Q4, 2021.”
Highlights of 2020 and 2021 Resource Expansion Drilling at Trapia 1 and Trapia 2:
Tripled known strike length of drill-confirmed PGE mineralization at Trapia 1, from 155 metres (“m”) to 470 m, and increased strike length by a factor of over five at Trapia 2, from 90 m to 490 m;
Established a new PGE zone 400 metres (“m”) to the northeast and along trend from current Trapia 2 resource area;
Confirmed and broadened up-dip surface PGE mineralization outside of the currently defined Trapia 1 resource;
Intercepted thickened, high-grade PGE mineralization down-dip and outside of currently defined resources at both Trapia 1 and Trapia 2.
Table 1: Summary of 2019 Trapia Inferred Mineral Resources and 2020-2021 Drill Upside
Deposit Tonnage
Pd Grade
(g/t) Pt Grade
(g/t) Au Grade
(g/t) 2PGE+Au Grade
(g/t) 2PGE+Au
(Ounces) Pre-ValOre DDHs
in 2019 Inferred
Pit-Constrained Resource 2020-2021 DDHs
(>10 gram x metre 2PGE+Au intercepts)
Trapia 1 2,600,000 0.71 0.36 0.03 1.09 92,000 7 14 of 23
Trapia 2 1,700,000 0.79 0.31 0.04 1.14 62,000 3 8 of 14
Trapia West 1,800,000 0.63 0.45 0.03 1.12 64,000 7 did not drill
TOTAL 6,100,000 0.71 0.37 0.03 1.11 218,000 17 22 of 37
Resource Expansion Drilling at Trapia
ValOre’s 2020 and 2021 drill programs have successfully extended PGE mineralization outside of the inferred resources at both the Trapia 1 and Trapia 2 deposits. Figures 1a and 1b show the location of the 2020 and 2021 core drill holes within the Trapia 1 (5,280 m in 23 holes) and Trapia 2 (2,240 m drilled in 14 holes) target areas.
Table 1 (above) summarizes the Trapia 2019 pit-constrained NI 43-101 inferred resource and illustrates the PGE resource expansion potential from ValOre’s 2020 and 2021 drill core assay results. A 10 “gram x metre” 2PGE+Au threshold was applied, based on the two lowest gram x metre assay intervals of resource holes, drill hole DD09TD03 (7.53 gram x metre hole in Trapia 2 resource) and drill hole DD09TU08 (9.61 gram x metre hole in Trapia 1 resource).
At Trapia 1, the strike length of drill-confirmed PGE mineralization has tripled from 155 m to 470 m, as corroborated by 14 drill intercepts of PGE mineralization in 15 drill holes (2020 and 2021) south of the 2019 inferred resource, including:
Drill hole DD20TU20: 76.74 m at 1.25 g/t 2PGE+Au from 176.81 m
Drill hole DD21TU22: 59.20 m at 1.09 g/t 2PGE+Au from 172.80 m
Drill hole DD21TU25: 57.35 m at 1.00 g/t 2PGE+Au from 238.15 m
Drill hole DD20TU13: 61.85 m at 0.81 g/t 2PGE+Au from 217.15 m
The strike length extension was accomplished after ValOre’s geologists reinterpreted the structural and geological model at Trapia 1 and established that the PGE-mineralized intrusion was not truncated by a fault along the southern resource margin, as previously interpreted by past operators, but remained fully intact and stepped down by 40 to 50 m. As such, historical resource expansion holes to the south of the stepdown were stopped short of the PGE-bearing ultramafic (“UM”) intrusion. Strike potential of the mineralized UM target remains open in both directions (north-northeast and south-southwest). See Figure 2 below for a plan map of 2020 and 2021 core drill holes at Trapia 1, compared with the 2019 inferred resource holes.
ValOre drilling has also confirmed and broadened the up- and down-dip high-grade PGE mineralization outside of the currently defined resource area, including the up-dip, surface PGE intercept in drill hole DD20TU10, which graded 52.37 m at 1.24 g/t 2PGE+Au from 0.45 m; and down-dip drill holes DD20TU12, with 100.42 m grading 0.76 g/t 2PGE+Au from 93.15 m, and DD21TU21 which graded 1.29 g/t 2PGE+Au over 71.90 m from 134.95 m depth.
Figure 2: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 1, Compared with 2019 Resource is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/532f32f4-ff70-4a16-9ffa-62251f131219
At Trapia 2, ValOre’s 2020 and 2021 core drilling has increased the drill-confirmed PGE-mineralized strike length by a factor of greater than five times, from 90 m to 490 m. This includes a new PGE zone situated 400 m to the northeast and along trend from current resource area, supported by six PGE drill intercepts in seven core holes from 2020 and 2021. In addition, geological continuity of the UM host rocks was established for over 800 m of geological trend, which remains open in both directions. See Figure 3 below for a plan map of 2020 and 2021 core drill holes at Trapia 2, compared with the 2019 inferred resource holes.
ValOre’s 2020 and 2021 drilling produced the top two core holes to date from a 2PGE+Au gram x metre interval perspective at Trapia 2, and five of the top six, including:
Drill hole DD21TD14: 11.27 m at 2.10 g/t 2PGE+Au from 152.48 m (released today)
Drill hole DD21TD16: 45.45 m at 0.61 g/t 2PGE+Au from 178.55 m (released today)
Drill hole DD21TD17: 21.60 m at 0.49 g/t 2PGE+Au from 43.80 m (released today)
Drill hole DD20TD13: 45.62 m at 0.54 g/t 2PGE+Au from 9.10 m
Drill hole DD20TD07: 52.15 m at 0.49 g/t 2PGE+Au from 4.85 m
Figure 3: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 2, Compared with 2019 Resource is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10b10828-330d-4656-9ffc-5a22747c7139
Table 2 summarizes significant PGE assay results from 2020 and 2021 Trapia 1 and Trapia 2 core drilling.
Trapia Target Areas and the 2019 Mineral Resource Domain
Trapia is one of five currently defined PGE deposit areas at Pedra Branca, which together host an inferred resource totalling 1,067,000 ounces of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.
The Trapia mineral resource comprises three separate UM intrusive areas within a 2-kilometre radius: Trapia 1, Trapia 2 and Trapia West. Specifically, Trapia 1 represents 92,000 ounces of the aggregate Trapia inferred resources of 219,000 ounces at 1.10 g/t 2PGE+Au (6.2 Mt), and Trapia 2 represents 62,000 ounces of the aggregate Trapia inferred resource.
Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting
CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.
Qualified Person (“QP”)
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX-V: VO) is a Canadian company with a portfolio of high-quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 39 exploration licenses covering a total area of 39,987 hectares (98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory 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, Chairman and CEO
ValOre Metals Corp.
For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
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.
This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.
AskMuncher
3 years ago
$KVLQF ValOre Provides Update on Trapia Resource Expansion Drilling, Pedra Branca
Press Release | 09/02/2021
VANCOUVER, British Columbia, Sept. 02, 2021 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX-V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on resource expansion drilling at the Trapia 1 and Trapia 2 target areas (“Trapia”), of ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
“PGE assay results from ValOre’s 2020 and 2021 Trapia drill programs illustrate the significant potential for resource expansion. We have now tripled the strike length of known PGE mineralization at Trapia 1 and increased Trapia 2 strike length by a factor of five,” stated ValOre’s VP of Exploration, Colin Smith. “We eagerly await the recalculation of Trapia’s resource estimates, which we expect to initiate in Q4, 2021.”
Highlights of 2020 and 2021 Resource Expansion Drilling at Trapia 1 and Trapia 2:
Tripled known strike length of drill-confirmed PGE mineralization at Trapia 1, from 155 metres (“m”) to 470 m, and increased strike length by a factor of over five at Trapia 2, from 90 m to 490 m;
Established a new PGE zone 400 metres (“m”) to the northeast and along trend from current Trapia 2 resource area;
Confirmed and broadened up-dip surface PGE mineralization outside of the currently defined Trapia 1 resource;
Intercepted thickened, high-grade PGE mineralization down-dip and outside of currently defined resources at both Trapia 1 and Trapia 2.
Table 1: Summary of 2019 Trapia Inferred Mineral Resources and 2020-2021 Drill Upside
Deposit Tonnage
Pd Grade
(g/t) Pt Grade
(g/t) Au Grade
(g/t) 2PGE+Au Grade
(g/t) 2PGE+Au
(Ounces) Pre-ValOre DDHs
in 2019 Inferred
Pit-Constrained Resource 2020-2021 DDHs
(>10 gram x metre 2PGE+Au intercepts)
Trapia 1 2,600,000 0.71 0.36 0.03 1.09 92,000 7 14 of 23
Trapia 2 1,700,000 0.79 0.31 0.04 1.14 62,000 3 8 of 14
Trapia West 1,800,000 0.63 0.45 0.03 1.12 64,000 7 did not drill
TOTAL 6,100,000 0.71 0.37 0.03 1.11 218,000 17 22 of 37
Resource Expansion Drilling at Trapia
ValOre’s 2020 and 2021 drill programs have successfully extended PGE mineralization outside of the inferred resources at both the Trapia 1 and Trapia 2 deposits. Figures 1a and 1b show the location of the 2020 and 2021 core drill holes within the Trapia 1 (5,280 m in 23 holes) and Trapia 2 (2,240 m drilled in 14 holes) target areas.
Table 1 (above) summarizes the Trapia 2019 pit-constrained NI 43-101 inferred resource and illustrates the PGE resource expansion potential from ValOre’s 2020 and 2021 drill core assay results. A 10 “gram x metre” 2PGE+Au threshold was applied, based on the two lowest gram x metre assay intervals of resource holes, drill hole DD09TD03 (7.53 gram x metre hole in Trapia 2 resource) and drill hole DD09TU08 (9.61 gram x metre hole in Trapia 1 resource).
At Trapia 1, the strike length of drill-confirmed PGE mineralization has tripled from 155 m to 470 m, as corroborated by 14 drill intercepts of PGE mineralization in 15 drill holes (2020 and 2021) south of the 2019 inferred resource, including:
Drill hole DD20TU20: 76.74 m at 1.25 g/t 2PGE+Au from 176.81 m
Drill hole DD21TU22: 59.20 m at 1.09 g/t 2PGE+Au from 172.80 m
Drill hole DD21TU25: 57.35 m at 1.00 g/t 2PGE+Au from 238.15 m
Drill hole DD20TU13: 61.85 m at 0.81 g/t 2PGE+Au from 217.15 m
The strike length extension was accomplished after ValOre’s geologists reinterpreted the structural and geological model at Trapia 1 and established that the PGE-mineralized intrusion was not truncated by a fault along the southern resource margin, as previously interpreted by past operators, but remained fully intact and stepped down by 40 to 50 m. As such, historical resource expansion holes to the south of the stepdown were stopped short of the PGE-bearing ultramafic (“UM”) intrusion. Strike potential of the mineralized UM target remains open in both directions (north-northeast and south-southwest). See Figure 2 below for a plan map of 2020 and 2021 core drill holes at Trapia 1, compared with the 2019 inferred resource holes.
ValOre drilling has also confirmed and broadened the up- and down-dip high-grade PGE mineralization outside of the currently defined resource area, including the up-dip, surface PGE intercept in drill hole DD20TU10, which graded 52.37 m at 1.24 g/t 2PGE+Au from 0.45 m; and down-dip drill holes DD20TU12, with 100.42 m grading 0.76 g/t 2PGE+Au from 93.15 m, and DD21TU21 which graded 1.29 g/t 2PGE+Au over 71.90 m from 134.95 m depth.
Figure 2: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 1, Compared with 2019 Resource is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/532f32f4-ff70-4a16-9ffa-62251f131219
At Trapia 2, ValOre’s 2020 and 2021 core drilling has increased the drill-confirmed PGE-mineralized strike length by a factor of greater than five times, from 90 m to 490 m. This includes a new PGE zone situated 400 m to the northeast and along trend from current resource area, supported by six PGE drill intercepts in seven core holes from 2020 and 2021. In addition, geological continuity of the UM host rocks was established for over 800 m of geological trend, which remains open in both directions. See Figure 3 below for a plan map of 2020 and 2021 core drill holes at Trapia 2, compared with the 2019 inferred resource holes.
ValOre’s 2020 and 2021 drilling produced the top two core holes to date from a 2PGE+Au gram x metre interval perspective at Trapia 2, and five of the top six, including:
Drill hole DD21TD14: 11.27 m at 2.10 g/t 2PGE+Au from 152.48 m (released today)
Drill hole DD21TD16: 45.45 m at 0.61 g/t 2PGE+Au from 178.55 m (released today)
Drill hole DD21TD17: 21.60 m at 0.49 g/t 2PGE+Au from 43.80 m (released today)
Drill hole DD20TD13: 45.62 m at 0.54 g/t 2PGE+Au from 9.10 m
Drill hole DD20TD07: 52.15 m at 0.49 g/t 2PGE+Au from 4.85 m
Figure 3: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 2, Compared with 2019 Resource is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10b10828-330d-4656-9ffc-5a22747c7139
Table 2 summarizes significant PGE assay results from 2020 and 2021 Trapia 1 and Trapia 2 core drilling.
Trapia Target Areas and the 2019 Mineral Resource Domain
Trapia is one of five currently defined PGE deposit areas at Pedra Branca, which together host an inferred resource totalling 1,067,000 ounces of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.
The Trapia mineral resource comprises three separate UM intrusive areas within a 2-kilometre radius: Trapia 1, Trapia 2 and Trapia West. Specifically, Trapia 1 represents 92,000 ounces of the aggregate Trapia inferred resources of 219,000 ounces at 1.10 g/t 2PGE+Au (6.2 Mt), and Trapia 2 represents 62,000 ounces of the aggregate Trapia inferred resource.
Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting
CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.
Qualified Person (“QP”)
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX-V: VO) is a Canadian company with a portfolio of high-quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 39 exploration licenses covering a total area of 39,987 hectares (98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory 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, Chairman and CEO
ValOre Metals Corp.
For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
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.
This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.
gsfl
13 years ago
2011 RC Exploration Strategy Yields New Discoveries
October 3, 2011
Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today provided an
update from property-wide exploratory reverse circulation (“RC”) and diamond drilling proximal to and along strike of
the structure hosting the high grade Lac Cinquante Uranium Deposit. The RC strategy in 2011 was designed to
advance prospecting and geophysical targets, across the 225,000 acre Angilak Property in Nunavut, Canada, to a
level where diamond drill testing is warranted.
• Three zones discovered by RC drilling within three kilometres of the Lac Cinquante resource area were
corroborated by diamond drilling: Eastern Extension; Pulse Zone; and Spark Zone
• Two priority targets tested warrant diamond drilling in 2012, based on similarities to the geological and
geophysical signatures of “unconformity related” targets: YAT Zone and VGR Zone
• Over 22 targets were tested by RC drilling property-wide in 2011, with 45 of 88 RC holes drilled generating
anomalous radioactivity greater than 500 cps
• Assays from diamond drill core samples are pending from Eastern Extension, Pulse, and Spark zones
“This year’s RC drilling exploration strategy has been very productive; enabling us to rapidly test multiple drill targets
at a greatly reduced cost in advance of diamond drilling,” stated CEO Jim Paterson. “The confirmation of two
“Athabasca-style” targets, YAT and VGR, underscores the exploration potential of the broader Angilak Property. RC
drilling has also demonstrated that multiple zones proximal to Lac Cinquante are highly prospective for growing the
Company’s mineral resource base in future seasons.”
To view a drill plan map related to this news release and all cross sections and maps from the 2011 exploration
program please visit http://kivalliqenergy.com/projects/angilak/program_images/
Eastern Extension, Pulse, and Spark
Three zones discovered by 2011 RC drilling, within three kilometres of Lac Cinquante resource area, have been
corroborated by core drilling. Assays from this diamond drilling at the Eastern Extension, Pulse and Spark zones are
pending. These results are significant as they demonstrate the very real potential of identifying multiple mineral
deposits within a concentrated area around Lac Cinquante. The Company hopes to incorporate diamond drill
intercepts from the Eastern Extension into an updated resource calculation for the Lac Cinquante deposit by end Q1
2012.
The initial discovery of the Eastern Extension was previously reported by Kivalliq on August 17, 2011. Six RC holes
were drilled from three setups located along the Lac Cinquante structural trend. All six holes intersected anomalous
radioactivity, and 44 core holes from 13 setups were subsequently drilled at the Eastern Extension. The Eastern
Extension displays similar geology to the Lac Cinquante Main Zone, with uranium mineralization developed in narrow,
sheared and brecciated tuff layers adjacent to a sulfide-bearing tuff horizon.
The Pulse and Spark zones were identified as linear geophysical targets, located 0.8 kilometres north and 3
kilometres west respectively from the Lac Cinquante resource area. At the Pulse zone, anomalous radioactivity was
intersected in nine of ten RC holes. Two core holes drilled as subsequent follow-up intersected radioactivity at 47 and
80 metres vertical depth. At the Spark zone, six of seven RC and a single diamond drill hole intersected anomalous
radioactivity at variable depths down to 65 metres vertically. The Spark zone is located approximately 500 metres
west of the high-grade Blaze zone.
The Pulse zone is comprised of one to two metre wide carbonate-quartz-pitchblende veins in sheared and altered
basalt, which correspond to a weak to moderate conductive trend identified by ground VLF-EM surveys. The Spark
zone appears similar to the Blaze zone in that mineralization is hosted in one to two metre wide fracture controlled
veins associated with a VLF-EM conductor. The geometry of the mineralized veining remains undetermined at this
early stage.
YAT and VGR
Two priority targets that were tested by RC drilling in 2011 warrant follow up next year. The YAT zone is located 16
kilometres southwest of Lac Cinquante and central to the Angilak property. The VGR zone is situated on the west
side of the property approximately 25 kilometres northwest of the resource area. Both zones are of great interest due
to similarities with “unconformity related” targets.
YAT is a zone of significant polymetallic carbonate veining on surface, containing Cu, U, Pb, Au, Ag, (See Kaminak
Gold Corporation news release November 5, 2007), developed above a strong magnetic low, and interpreted
basement faults. A 2011 gravity survey indicates a broad zone of weak low gravity with at least one significant
“bullseye” gravity low. Two of four RC drill holes tested the bullseye gravity low, suggesting that it is caused by strong
clay alteration of underlying lithologies down to at least 50 metres vertical depth.
The VGR zone is a 5 kilometre long conductive trend along a reactivated basement fault, displaying elevated
radioactivity and favourable clay-silica alteration along its length. A gravity survey completed in 2011 shows the
presence of at least one significant gravity low along the structure, possibly associated with clay alteration of
underlying lithologies. One RC drill hole, inclined at minus 60 degrees under a historic trench across the conductor,
contained elevated radioactivity (1000-4800 cps) in the upper 65 metres. Three additional holes were abandoned due
to poor ground conditions related to clay alteration at down hole depths from 24 to 65 metres.
Based on the encouraging results of RC drilling, the YAT and VGR showings warrant follow-up with diamond drilling
in 2012. In both areas, low gravity signatures correspond to areas of strong clay and silica alteration, possibly
associated with reactivated basement structures. Mineralized surface showings at YAT and VGR are found in clastic
and volcanic rocks of the Kazan and Christopher Island Formations, which overlie Archean basement in an
unconformable relationship. The geology and mineral occurrences observed in these areas are comparable to high
level alteration associated with unconformity-type mineralization in the Athabasca Basin of Saskatchewan. As such,
both are considered highly prospective for uranium mineralization near the basement-cover interface. None of the RC
holes completed in 2011 intersected the unconformity contact below these showings, thus these zones warrant
further drill-testing in 2012.
Property-wide Success
The 2011 RC drill program at Angilak is now complete, totalling 6,411 metres in 88 exploratory holes. Of the 88 RC
holes drilled this year, 45 holes generated anomalous radioactivity greater than 500 cps.
Three discoveries made with the RC rig were corroborated by diamond drill core holes, with additional targets set for
diamond drilling as part of the 2012 drilling campaign. In all cases, RC hole locations were determined and prioritized
after review of data from Kivalliq’s previous geophysical surveys and prospecting results.
QA/QC
Split drill core samples from 47 holes at the Eastern Extension, Pulse, and Spark zones have been sent to
Saskatchewan Research Council Geoanalytical Laboratories (SRC) for analysis. SRC 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. Kivalliq’s quality assurance and quality control
procedures include the systematic insertion of blanks and standards into the drill core sample string. Chemical assay
results from this drill program will be reported by Kivalliq upon receipt.
Natural gamma radiation in drill core and RC chips was measured in counts per second (CPS) using a hand-held
Radiation Solutions Inc. RS-121 gamma ray scintillometer. Readings are considered anomalous above the 250 cps
background recorded in adjacent rocks. The Company cautions that scintillometer readings are not directly related to
uranium grade and are only used to indicate zones of radioactive material.
Disclosure of a technical nature contained in this release has been reviewed and approved by Kivalliq’s president,
Jeff Ward, P.Geo. Mr. Ward is the Qualified Person for the purposes of National Instrument 43-101.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation is a uranium exploration and development company, and the first company in Canada to
sign a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut.
With an NI 43-101 compliant Inferred Mineral Resource of 810,000 tonnes grading 0.79% U3O8, totaling 14.15
million lbs U3O8 (17.5 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada’s
highest grade uranium deposit outside of the Athabasca Basin. Kivalliq’s flagship project, the 225,000 acre Angilak
Property in Nunavut, hosts the high-grade Lac Cinquante deposit, along with nine additional high priority target areas.
Since acquiring the Angilak Property in 2008, the Company has invested approximately $25 million conducting
systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and
approximately 48,000 meters of RC and diamond drilling.
On behalf of the Board of Directors
“Jim Paterson”
James 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 at 1.888.331.2269 toll free, directly at 604.646.4527 or by email
at info@kivalliqenergy.com.
Kivalliq Energy Corporation is a member of the Discovery Group of companies, for more information on the group
visit www.discoveryexp.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 management's assessment of plans and projects and intentions with
respect to future exploration programs, 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.
gsfl
13 years ago
Discoveries Continue Along Lac Cinquante Trend; Mineralization Confirmed Over 2.3 km
August 17, 2011
Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today provided an update on diamond drilling near the high grade Lac Cinquante Uranium Deposit, located within the Angilak Property in Nunavut, Canada. Recent drilling successfully discovered a mineralized zone, the “Western Extension”, located to the west and along strike from the 1.35 kilometre long Lac Cinquante deposit. In addition, two diamond drills are now delineating a new zone, the “Eastern Extension,” discovered 450 metres east of the inferred resource area. Highly radioactive readings from diamond drilling along the Lac Cinquante structure have now extended the known strike extent of uranium mineralization to at least 2.3 kilometres.
• • •
Western Extension strike length extended to 550 metres; zone remains open to depth Two diamond drill rigs currently testing newly discovered Eastern Extension Assays are pending from Lac Cinquante, Western Extension and Eastern Extension zones
“The discovery of both the Western and Eastern Extension zones underscores the growing significance of the Lac Cinquante structural trend,” stated CEO Jim Paterson. “We are also very pleased that recent targeting by the RC rig led to the discovery of the Eastern Extension zone, demonstrating that a combined RC and diamond drilling program is highly effective when exploring the Angilak Property.”
2011 Angilak Property Exploration Program
The ongoing 2011 drill program at Angilak now totals 15,820 metres in 106 diamond drill holes and an additional 4,775 metres in 65 exploratory holes using the reverse circulation (RC) drill rig. Diamond drilling to date has largely focused on resource expansion east and west of the high grade Lac Cinquante deposit and exploratory drilling at the Blaze Zone. The Kivalliq team considers both the Western Extension and Eastern Extension zones to be part of the same northwest–southeast trending geological structure which hosts the high grade Lac Cinquante uranium resource.
Airborne and ground geophysical crews, as well as a prospecting crew, are currently working on the project to advance target areas defined by the 2010 program and generate new targets across the Angilak Property.
For maps and drill plan images, please visit www.kivalliqenergy.com
Western Extension
Drilling at the Western Extension targeted a northwest trending VLF EM conductor which exhibited a response similar to that of the Lac Cinquante deposit. 6,705 metres in 45 diamond drill holes have now tested this zone, along 15 fences spaced at 50 metres and to depths of up to 250 metres. Recent drilling has significantly increased the known strike of the Western Extension to 550 metres, so that it now encompasses anomalous hole 10 LC-013 drilled last year (See June 24, 2010 news release). Based on recent drilling, the zone of radioactivity that makes up the Western Extension now starts 450 metres to the west and along strike of the Lac Cinquante main zone.
Mineralization is similar to that found at Lac Cinquante, but is structurally hosted in altered basalt rather than a tuffaceous unit. Radioactive intervals are associated with sheared, chlorite-carbonate altered basalt with minor brecciation and sulphides. Hematized quartz-carbonate veining is common in this zone.
All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 90 degrees. This work has identified a highly radioactive shear zone between 0.3 and 2.7 metres estimated true width, and dipping roughly 65 degrees to the southwest. 37 of 46 holes have intersected anomalous radioactivity between 30 and 250 metres vertical depth. Radiation in excess of 10,000 counts per second (CPS) was measured in the deepest intervals on 6 drill set-ups, demonstrating the zone is open at depth and warrants further drilling. Assays from Western Extension are pending.
Eastern Extension
The discovery of the Eastern Extension zone was initially made by testing a northwest trending linear VLF EM conductor similar to Lac Cinquante, using 6 reverse circulation (RC) holes drilled from three set-ups. Currently, two diamond drills are delineating the Eastern Extension, which starts approximately 450 metres east of the Lac Cinquante inferred resource area.
Mineralization is very similar to that found at Lac Cinquante, primarily hosted in the same hematite-carbonate- chlorite-graphite altered tuff unit. Radioactivity is associated with quartz-carbonate veining, breccia and sulphides within the sheared host rock.
1,525 metres in 11 diamond drill holes have now tested the Eastern Extension zone from three set-ups spaced 50 and 350 metres apart respectively. All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 89 degrees. Eight holes have intersected anomalous radioactivity along 400 metres strike length, and between 35 and 255 metres vertical depth. The RC and core holes have confirmed the continuation of the Lac Cinquante structure eastward with highly radioactive intercepts up to 2.0 metres wide in a zone dipping 70 degrees to the southwest. Drilling will continue at the Eastern Extension and assays will be released upon receipt and review.
QA/QC
Half-spilt core samples from holes drilled at the Western Extension and Eastern Extension zones, with anomalous radioactivity levels between 250 and 56,000 CPS measured to date, will be sent to Saskatchewan Research Council Geoanalytical Laboratories (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. Chemical assay results from this drill program will be reported by Kivalliq upon receipt.
Natural gamma radiation in drill core was measured in counts per second (CPS) using a hand-held Radiation Solutions Inc. RS-121 scintillometer. The Company cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.
Disclosure of a technical nature contained in this release has been reviewed and approved by Kivalliq’s president, Jeff Ward, P.Geo. Mr. Ward is the Qualified Person for the purposes of National Instrument 43-101.
gsfl
13 years ago
Kivalliq Files NI 43-101 Technical Report on the Lac Cinquante Deposit, Nunavut March 24, 2011
Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSXV) today announced the completion and filing of a National Instrument 43-101 independent technical report on the Company’s Lac Cinquante Uranium Deposit at the Angilak Project, Nunavut, Canada.
The independent Technical Report was prepared by Apex Geoscience Ltd. with the Mineral Resource estimate for the Lac Cinquante Deposit contained therein prepared under the direction of SIM Geological Inc., following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1.
The report titled “Technical Report on the Angilak Project, Kivalliq Region, Nunavut” will be filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com, or the Kivalliq website, www.kivalliqenergy.com.
The information in this release related to the independent Technical Report and the Mineral Resource estimate has been approved by Michael Dufresne, P.Geol and Robert Sim, P.Geo. of SIM Geological Inc., who are independent Qualified Persons as defined under National Instrument 43-101. Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person for the Company, has reviewed and approved the information contained in this release.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation is a uranium exploration and development company, and the first company in Canada to sign a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut.
With an NI 43-101 compliant Inferred Mineral Resource of 810,000 tonnes grading 0.79% U3O8, totaling 14.15 million lbs U3O8 (17.5 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada’s highest grade uranium deposit, outside of the Athabasca Basin. Kivalliq’s flagship project, the 225,000 acre Angilak Property in Nunavut, hosts the high-grade Lac Cinquante deposit, along with nine additional high priority target areas. Since acquiring the Angilak Property in 2008, the Company has invested approximately $12 million conducting systematic exploration.
On behalf of the Board of Directors
“James Paterson” James Paterson, CEO Kivalliq Energy Corporation
gsfl
13 years ago
Insider buying report
Kivalliq Energy Corporation (KIV)
As of March 22nd, 2011
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Mar 22/11 Nov 01/10 Twells, Christopher Direct Ownership Warrants 00 - Opening Balance-Initial SEDI Report
Mar 22/11 Nov 01/10 Twells, Christopher Direct Ownership Options 00 - Opening Balance-Initial SEDI Report
Mar 22/11 Nov 01/10 Twells, Christopher Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Mar 02/11 Feb 28/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 100,000 $0.800
Mar 02/11 Feb 25/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 1,500 $0.780
Mar 02/11 Feb 25/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 29,000 $0.790
Mar 02/11 Feb 25/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 19,500 $0.800
Feb 22/11 Feb 22/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 117,500 $0.820
Feb 18/11 Feb 18/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 203,500 $0.820
Feb 18/11 Feb 18/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market
gsfl
13 years ago
Kivalliq Energy Announces CAD$17.8 Million Financing
Mar. 7, 2011 (Canada NewsWire Group) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, March 7 /CNW/ - Kivalliq Energy Corporation (TSXV:KIV) ("Kivalliq" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Raymond James Ltd., Dundee Securities Ltd., Haywood Securities Inc. and Versant Partners Inc. (the "Underwriters") to sell 11,120,000 common shares of the Company issuable on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of CAD$0.90 per Flow-Through Share to raise CAD$10,008,000, on a bought deal private placement basis (the "Underwritten Offering"). The Company has granted the Underwriters an over-allotment option, exercisable prior to the closing of the Underwritten Offering, to purchase up to 2,780,000 additional Flow-Through Shares at the issue price of the Offering, for additional proceeds of up to CAD$2,502,000 (the "Over-Allotment Option", and together with the Underwritten Offering, the "Offering").
In addition, the Company plans to undertake a non-brokered private placement financing for up to 10,000,000 common shares at $0.78 per share (the "Non-Brokered Private Placement"). Insiders of the Company may participate in the Non-Brokered Private Placement and a portion of the Non-Brokered Private Placement may be subject to finders' fees.
The Underwriters will receive a cash commission on the sale of the Flow-Through Shares equal to 6% of the gross proceeds raised and broker warrants ("Broker Warrants") equal to 3% of the Offering. Each Broker Warrant shall be exercisable for one common share of the Company at a price of CAD$0.90 at any time up to 24 months after closing.
The Company intends to use the net proceeds of the Offering and the Non-Brokered Private Placement to explore and develop Kivalliq's high-grade Lac Cinquante uranium deposit, located within the Angilak Property within Nunavut, Canada, and for general working capital purposes.
Closing of the Offering and the Non-Brokered Private Placement are each anticipated to occur on or about March 24, 2011 and are subject to receipt of applicable regulatory approvals. The securities issued by Kivalliq in connection with the Offering and the Non-Brokered Private Placement are subject to a four month "hold period" as prescribed by the TSX Venture Exchange and applicable securities laws.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation is a uranium exploration and development company, and the first company in Canada to sign a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut.
With an NI 43-101 compliant Inferred Mineral Resource of 810,000 tonnes grading 0.79% U3O8 , totaling 14.15 million lbs U3O8 (17.5 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada's highest grade uranium deposit, outside of the Athabasca Basin. Kivalliq's flagship project, the 225,000 acre Angilak Property in Nunavut, hosts the high-grade Lac Cinquante deposit, along with nine additional high priority target areas. Since acquiring the Angilak Property in 2008, the Company has invested approximately $12 million conducting systematic exploration.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
gsfl
13 years ago
Insider Buying is off the charts
Mar 02/11 Feb 28/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 100,000 $0.800
Mar 02/11 Feb 25/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 1,500 $0.780
Mar 02/11 Feb 25/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 29,000 $0.790
Mar 02/11 Feb 25/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 19,500 $0.800
Feb 22/11 Feb 22/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 117,500 $0.820
Feb 18/11 Feb 18/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 203,500 $0.820
Feb 18/11 Feb 18/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 9,000 $0.800
Feb 18/11 Feb 16/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 6,500 $0.840
Feb 18/11 Feb 16/11 Paterson, James R. Direct Ownership Common Shares 10 - Acquisition in the public market 163,500 $0.800
Feb 10/11 Feb 10/11 Dawson, James Martin Direct Ownership Common Shares 10 - Disposition in the public market -7,500 $0.750
- Amended Filing
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