Mining News: Northern Neighbors: Kivalliq eyes high-grade precious metal target

Kivalliq Energy Corp. June 21 posted plans to test precious metals enriched targets at its Angilak property in Nunavut. “We are excited to kick-off the first program designed to determine the scope and setting of exceptional gold, silver and PGM (platinum group metals) results reported from the Yat area since 2007,” said Kivalliq President Jeff Ward. The Yat occurrence is located 16 kilometers (10 miles) southwest of the Lac 50 uranium resource and near the northern margin of the Angikuni Basin. Kivalliq staff visited the area in 2015 to investigate high-grade polymetallic mineralization and visible gold periodically noted during previous Kivalliq prospecting programs. One of three boulder grab samples collected in 2015 returned the highest precious metal assays ever reported from the Angilak property. “Prospecting at Yat in 2015 included one grab sample of 211 grams per metric ton gold, 80,900 g/t silver, 1.82 percent U3O8 (tri-uranium oxide), 6.8 percent copper, 3.1 g/t platinum and 6.7 g/t palladium, which are very compelling results to follow up this season,” Ward said. The Yat area is characterized by a discrete 250-meter-wide magnetic low with coincident high-grade gold-silver-uranium-copper-PGM mineralization, occurring with quartz-carbonate breccia and veins in hydrothermally altered host rock. The C$500,000 program will begin in early July by mobilizing staff and supplies to the existing Nutaaq camp at the Angilak property. Kivalliq plans to carry out trenching, geological mapping, sampling and geochemical surveying at the Yat target, in addition to geochemical surveying along geophysical conductors in the vicinity of Dipole, a uranium discovery made in 2015.

-Shane Lasley