The first phase of the drilling program would comprise approximately 2,000 metres and is designed to confirm intercepts, verify dimensions and test the potential to expand this historic uranium deposit. The previous operators’ reports indicated that Lac Cinquante remains untested at depth and along strike.
The summer program would include step-out drilling on the EM (Electro-Magnetic) conductor directly associated with the Lac Cinquante deposit and on parallel conductors that make up the nine kilometre long “Lac Cinquante trend”.
The balance of the drill program is expected to be carried out in 2010. Additional prospecting and sampling would also be conducted along “the Lac Cinquante trend”.
Kivalliq Energy has a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut. This landmark partnership with the Inuit gives Kivalliq an opportunity to explore and develop the Lac Cinquante Deposit, northern Canada’s highest grade uranium deposit. It is reported to contain 20.4 million pounds of uranium oxide with grades in excess of 1% U3O8, the historic Lac Cinquante uranium deposit and approximately 150 other uranium occurrences on the property comprise Kivalliq’s core asset, the 270,000 acre Angilak Project. Kivalliq Energy is a member of the Discovery Group of companies.
