Kivalliq Energy Corporation: ZTEM(TM) Geophysical Survey Completed at Hatchet Lake and Genesis Properties, Saskatchewan
Kivalliq Energy Corporation: ZTEM(TM) Geophysical
Survey Completed at Hatchet Lake and Genesis
Properties, Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - October 10, 2017) -
Kivalliq Energy Corporation (TSXV: KIV) and
Roughrider Exploration Limited (TSXV: REL) ("Roughrider")
today announced the completion of a 1,943 line-kilometre
helicopter-borne
electromagnetic survey at the Hatchet Lake Property and Genesis Property uranium projects in northeastern
Saskatchewan. Geotech Ltd. of Aurora, Ontario was contracted to fly the survey using their
ZTEM
TM
system, with in3D
Geoscience Inc. providing independent QA/QC during data acquisition.
The ZTEM
TM
survey was divided into five separate grids; one grid at Hatchet Lake totalling 720 line-kilometres and four grids at
Genesis totalling 1,223 line-kilometres. At the Hatchet Lake Property, the ZTEM
TM
survey will enhance earlier airborne
geophysical data in areas having priority geochemical anomalies. The Genesis Property ZTEM
TM
survey was divided into four
separate grids providing additional geophysical coverage over the Jurgen, Kingston, Johnston/GAP and Daniels Bay priority
target areas; including select gravity targets identified by a FALCON gradiometer survey flown in 2016 (see news release
August 23, 2016). Flight lines were flown at 200 or 250 metre spacing. The survey was completed between September 26 and
October 5, 2017 and final deliverables, including modelling and interpretation, are expected late in 2017.
"We are confident that new data from ZTEM
TM
and continued exploration by Kivalliq and Roughrider will further upgrade our
basement-hosted uranium targets in the under-explored region east of the Athabasca Basin," stated Jeff Ward, Kivalliq's
President.
ZTEM
TM
is a low-noise, airborne electromagnetic system that produces reliable, deep investigation using natural, horizontal
planar fields of the Earth as the source of transmitted energy. Vertical fields, the result of variations in the horizontal signal
caused by conductivity contrasts, are mapped using a proprietary receiver design combined with modern digital electronics and
signal processing. ZTEM
TM
operates at low frequencies providing up to 1,500 metres depth penetration through conductive
cover, and having between 8 to 10 metres spatial resolution with good resistivity discrimination and sensitivity.
Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person under National Instrument 43-101 has reviewed and approved
the technical information contained in this release.
About
Kivalliq Energy Corporation
Kivalliq Energy Corporation (TSXV: KIV) is a Vancouver-based company with a portfolio of high-quality uranium and precious
metal exploration projects in Canada. In addition to the new Baffin Gold Property, Kivalliq holds Canada's highest-grade uranium
resource outside of Saskatchewan. The Company's flagship project, the 89,852 hectare Angilak Property in Nunavut Territory,
hosts the Lac 50 Trend with a NI 43-101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million
pounds U3O8. Kivalliq's comprehensive exploration programs continue to demonstrate the "District Scale" potential of the
Angilak Property. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to Kivalliq's
news release of March 1, 2013.
In Saskatchewan, Kivalliq holds a 100% interest in the 13,711 hectare Hatchet Lake Property adjacent to the north-eastern
margin of the highly prolific uranium-producing Athabasca Basin. Compilation of results from previous exploration by Hathor
Exploration Limited and Rio Tinto have identified multiple, priority unconformity-related basement targets at Hatchet Lake that
were followed up in 2015.
Kivalliq also holds a 50% interest in the 131,412 hectare Genesis Property located northeast of Saskatchewan's Athabasca
Basin, with Roughrider Exploration Limited funding the current exploration program pursuant to an option to acquire up to an
85% interest in the property. This highly prospective project is located along the Wollaston-Mudjatik trend and extends 90
kilometres northeast from Wollaston Lake to the Manitoba border.
Kivalliq's team of northern exploration specialists has forged strong relationships with sophisticated resource sector investors
and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. Kivalliq was the first company to sign a
comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory, Canada 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
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 toll free at 1.888.331.2269, at 604.646.4527, or by email
at
.
Kivalliq Energy Corporation is a member of the Discovery Group of Companies, for more information please visit:
www.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.
Certain disclosures in this release 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.