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Kivalliq Acquires Genesis Property in Northeastern Saskatchewan, Canada
VANCOUVER , Jan. 13, 2014 /CNW/ - Kivalliq Energy Corporation ("Kivalliq", TSX-V: KIV) ...
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[{"type":"text","content":"\n\n\n\nVANCOUVER, Jan. 13, 2014 /CNW/ - Kivalliq Energy Corporation (\"Kivalliq\", TSX-V: KIV) today announced that it has staked 36 mineral claims totalling 362,789\n acres (146,815 hectares), northeast of Saskatchewan's Athabasca Basin\n and along the prospective Western Wollaston Tectonic Domain. Kivalliq's\n new, 100% owned \"Genesis Property\" commences 25 kilometres northeast of\n the Eagle Point uranium mine and Rabbit Lake mill operated by Cameco\n Corporation and extends 90 kilometres to the northeast along this\n prospective geological and structural domain to the Manitoba border.\n The Genesis Property covers 28 documented historic uranium showings and\n several uraniferous boulder trains.\n\n\nSaskatchewan is one of the world's most prolific uranium districts,\n having both established infrastructure and a politically supported\n uranium mining industry. The Genesis Property falls within Western\n Wollaston Domain and the Wollaston-Mudjatik Transition Zone.  These\n zones host the majority of known Canadian uranium deposits and all of\n Canada's operating uranium mines, which currently account for 15% of\n the world's annual supply of uranium.\n\n\n\"The current uranium spot pricing environment continues to present\n excellent opportunities to increase Kivalliq's exposure to, and\n ownership of, high quality uranium projects,\" stated Kivalliq's CEO,\n Jim Paterson. \"Our goal is to complement Kivalliq's existing resource\n base at Angilak and exploration potential at Baker Basin, by employing\n our team's considerable northern exploration and Saskatchewan uranium\n experience to make significant discoveries at the Genesis Property.\"\n\n\nThe Western Wollaston and the Wollaston-Mudjatik Transition Domains are\n high-strain zones within reworked Archean and Paleoproterozoic rocks of\n the Hearne Subprovince. This lithostuctural trend hosts the majority of\n basement and unconformity type uranium deposits known in the Athabasca\n Basin. The trend is marked by a regional magnetic low along the\n boundary between primarily granitoid rocks of the Mudjatik Domain to\n the west, and gneissic metasediments of the Wollaston Domain to the\n east.\n\n\nWhere the Western Wollaston Domain and the Wollaston-Mudjatik Transition\n Zone extend to the northeast of the Athabasca Basin, Kivalliq\n identified a highly favourable a...