Kivalliq Drills New ML Zone in Lac 50 Trend; Update on Phase 1 Exploration at Angilak Property

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[{"type":"text","content":"\n\n\nVANCOUVER, June 4, 2013 /CNW/ - Kivalliq Energy Corporation (TSXV: KIV) (\"Kivalliq\") today announced the discovery of uranium mineralization associated with\n a geophysical conductor located 650 metres north east of the J4 Zone at\n the 340,268 acre Angilak Property in Nunavut Territory, Canada.\n\n\n\"The ML Zone is Kivalliq's second drilling discovery this season; and\n the 12th such discovery within the highly prospective Lac 50 Trend since 2010.\n Our exploration targeting techniques continue to generate positive and\n meaningful results,\" stated Jim Paterson, Kivalliq's CEO. \"As in the\n past two years, work in Phase 1 has identified zones for follow up. We\n will now focus on activities with the potential to impact a preliminary\n economic assessment (\"PEA\") of the Lac 50 Trend.\"\n\n\nExploration highlights in 2013 to date include:\n\n\nTwo new uranium discoveries from drilling of the Lac 50 Trend - ML Zone\n and J1 Zone\n\n\nML Zone - Hole 13-ML-001 intersected anomalous radioactivity up to\n 30,000 counts per second (\"cps\") over 1.3 metres true width, 300 metres\n west of an anomalous reverse circulation (\"RC\") hole drilled in 2012\n\n\nJ1 Zone - Six of six holes drilled intersected anomalous radioactivity\n 800 metres west of the J4 zone\n\n\n995 line kilometres of geophysical surveying prioritized targets within\n the Lac 50 Trend and property-wide\n\n\nML Zone Discovery\n\n\nThe ML Zone conductor was identified as a priority target in 2012 when a\n single RC hole at the end of the season intersected host rocks and\n mineralization similar to that in the Lac 50 Trend, with anomalous\n radioactivity between 200 and 1600 cps over 1.5 metres. In April 2013,\n four core holes totaling 632 metres tested this 1.5 kilometre long\n conductor from two sites 1.1 kilometres apart.\n\n\nHoles 13-ML-001 and 002 tested the ML Zone conductor 300 metres west of\n the 2012 RC hole. 13-ML-001 intersected anomalous radioactivity with\n values between 200 and 30,000 cps over a true width of 1.3 metres at 60\n metres vertical depth. Mineralization occurs within a 4.3 metre wide\n zone of sheared, hematized, sulphidic graphitic tuff and carbonate\n veining. Hole 13-ML-002 intersected the same altered tuff unit 36\n metres down dip, but with no radioactivity. Holes 13-ML-003 and 004\n tested the ML conductor 1.1 kilometres a...

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