8 May 2017
May 8, 2017
VANCOUVER, BC - Kivalliq Energy Corporation (TSX-V: KIV) (“Kivalliq”) today announced the acquisition of a dominant land position in one of the largest undeveloped greenstone-iron formation gold belts in Nunavut, Canada. This land package, totalling 408,981.6 hectares and covering 160 kilometres of the Foxe Fold Belt on central Baffin Island, comprises a Mineral Exploration Agreement (MEA) with Nunavut Tunngavik Inc. (NTI); the acquisition of 15 prospecting permits; and a transaction with Commander Resources Ltd. (Commander).
Baffin Gold Acquisition Highlights:
• Large land position with exclusive control of one of the largest undeveloped greenstone belts in Canada
• Covers a strongly mineralized gold system hosting known high-grade gold occurrences in multiple geological settings: iron formation, shear zones, quartz veins, metasediments and metavolcanics
• Over $25 million* of exploration data and extensive geoscience databases from BHP-Billiton, Falconbridge, Commander Resources and AngloGold Ashanti exploration programs performed between 2001 and 2011 (*based on publicly disclosed reports)
• An existing camp, tidewater access and two 1,200 m DEW Line airstrips will help to accelerate future work programs and potential development
• Only 158 drill holes to date (<150 m depth) along entire belt, focused mostly on four prospects
• 61% of historic drill holes returned weighted assay intervals of > 1.0 g/t Au over 1.0 metre