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Kivalliq Acquires Baker Basin Uranium Property in Nunavut Territory, Canada
VANCOUVER , Oct. 15, 2013 /CNW/ - Kivalliq Energy Corporation ("Kivalliq", TSX-V: KIV) has...
About this update from Valore Metals Corp.
[{"type":"text","content":"\n\n\nVANCOUVER, Oct. 15, 2013 /CNW/ - Kivalliq Energy Corporation\n (\"Kivalliq\", TSX-V: KIV) has made a strategic addition to the Company's\n project portfolio through a transaction with Pacific Ridge Exploration\n Ltd. (\"Pacific Ridge\", TSX-V: PEX) to acquire a uranium exploration\n property in the prospective Baker Lake Basin of Nunavut Territory,\n Canada.\n\n\nKivalliq will, subject to all necessary approvals, acquire 100% of\n Pacific Ridge's ownership interest in the Baker Basin Uranium Property:\n\n\n\n232,262 acres on the southern boundary of the highly-prospective Baker\n Lake Basin of Nunavut Territory\n\n\nMultiple target zones based on results from work by previous exploration\n groups; public disclosure states aggregate expenditures in excess of\n CDN$7.1 million since 2006\n\n\nHighlight down hole intervals from publicly disclosed drill assay data\n from previous exploration groups includes:\n\n\n\n0.56% U3O8  over 5.5m (within a broader interval of  0.31% U3O8 over 11.5m) and 0.27% U3O8  over 5.8m at the KZ Zone (PEX press release Oct. 18, 2006)\n\n\n0.51% U3O8  over 9.0m (within a broader interval of 0.30% U3O8 over 17.3m) and 0.35% U3O8  over 10.0m at the Lucky 7 Zone (PEX press release Oct. 2, 2007)\n\n\n\nSummary of terms for Kivalliq to acquire 100% of Pacific Ridge's Baker\n Basin Property interest:\n\n\n\n600,000 shares KIV; $55,000 cash payment; $70,000 private placement\n purchase of PEX units\n\n\n\n\n\"Kivalliq continually evaluates projects worldwide to increase our\n exposure to high-quality uranium assets. We believe that the current\n value proposition of the Baker Basin Property was too great an\n opportunity to pass up,\" stated Jim Paterson, Kivalliq's CEO. \"Our\n extensive northern exploration experience, as well as our relationships\n and award winning environmental track record in Nunavut Territory, give\n Kivalliq a competitive advantage to rapidly advance the Baker Basin\n Property.\"\n\n\nFor Baker Basin Property information: http://www.kivalliqenergy.com/angilak/baker_basin/\n\n\nThe Baker Basin Property is made up of 95 claims totalling 232,262\n acres, located 60 kilometres south of the hamlet of Baker Lake, Nunavut\n Territory, Canada. Areva's Kiggavik uranium project (133 million lb\n mineral resource at 0.55% U3O8 , Areva, Fourth IPGC, Vancouver January ...