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QAMANITTUAQ/BAKER LAKE
Kivalliq Energy Corp. is reporting a 92 per cent increase of its Lac Cinquante uranium deposit, located within the company's Angilak Property in Nunavut, about 235 km southwest of Baker Lake.

The new inferred mineral resource estimate of 1,779,000 tonnes, grading 0.69 per cent, totals 27.13 million pounds, at a 0.2 per cent cut-off grade, the company said in a Jan. 17 news release.

"This represents a 92 per cent increase in the Lac Cinquante resource, which clearly reflects the growth potential of this deposit and the increasing value of this project," Kivalliq CEO Jim Paterson stated.

"Lac Cinquante is one of the largest undeveloped and highest grade uranium resources in Canada, outside of the Athabasca Basin, and contains significant quantities of silver, molybdenum and copper."

The results came from more than 1,700 metres of diamond drilling in 14 holes conducted in 2011.

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