The Yat zone is one such area where the potential for gold was identified early on by assaying and observing visible gold in grab samples of boulders. At this location, precious metals appear to be occurring with the same veining or hydrothermal event.
There is not much rock exposure at Angilak, but we have identified silver rich veins eight km west of the resource area (up to 21,600 gm/t - Ag showing), in addition other polymetallic areas with significant copper, lead, zinc, silver (Taluaq) as far as 20km north. Au is less common on the property and generally background levels in early testing within the Lac 50 resource area, although it can be elevated locally in other uranium zones we’ve found. Silver is definitely associated with uranium on the property, as is the molybdenum. PGE association is a work in progress.
The large Angilak property (340,000 acres) hosts a variety of geological settings and we do look for other, or associated mineralization. We agree that there is great encouragement early-on for other metals, and our prospectors have done an exceptional job finding showings to follow up – uranium and otherwise. Our focus to date has been on growing the uranium resources, but we are also building knowledge and geotechnical data across the property to help with this, and will continue investigating precious metal possibilities.
Our preliminary metallurgical work has focused on efficient extraction of uranium, and we have yet to fully assess the value of other metals in the resource. Same goes for other metallic showings across the property and it’s too early to comment on their economics. That being said, we recognize Nunavut, and the Angilak area, as a very metallic endowed region with abundant uranium, precious and base metal potential. We intend to leave no stone unturned (literally).
Jeff Ward P.Geo., President Kivalliq Energy Corporation