Kiplin Metals Retains Contractor for Exploration Program on the Cluff Lake Road (“CLR”) Uranium Project, Saskatchewan
April 18 2023 - 1:00AM
Kiplin Metals Inc. (TSX-V: KIP) (the
“
Company” or “
Kiplin”) has
appointed Grander Exploration to carry out the upcoming phase of
exploration at the Cluff Lake Road (“CLR”) uranium project. The
project is located in northwestern Saskatchewan and is surrounded
by F3 Uranium Corp.'s (formerly Fission 3.0) (“F3”) highly
acclaimed Patterson Lake North (PLN) project.
The western boundary of the Company’s CLR
property is shared with F3's adjacent "North Conductor Complex",
which trends South-Southeast and extends onto the CLR property.
Previous owner Fission Uranium Corp. ("FISSION") and F3 have
conducted multiple geophysical surveys, including (VTEM -
helicopter-borne versatile time domain Electromagnetic), TEM (HT
SQUID and Coil moving-loop TEM), and DC Resistivity, that
overlapped the western flank of the CLR property. Grander
Exploration and Company personnel are evaluating the most effective
type of geophysical surveys to undertake on the CLR property. These
surveys will correlate with F3’s previous surveys and will better
define and extend the North Conductor Complex on the CLR property.
To date, F3 has completed the only one drill hole (PLN22-29) in the
area (Press Release November 28, 2022).
Following F3’s recent (November 2022) discovery
of the high-grade JR Uranium Zone (located 15
kilometres South-southwest of the CLR property), the Company
considers the similarities of the North Conductor Complex on the
CLR property as a top exploration priority. F3's North Conductor
Complex consists of three parallel conductors that span a width of
one kilometre. The Company believes that all three North Conductors
identified by F3 may continue and extend onto the Company’s CLR
property. Additionally, the Company has defined both parallel and
cross-cutting magnetic lineaments on their CLR property.
The promising geology, alteration, and
mineralization observed in the single drill hole (PLN22-029) in the
area, along with the presence of multiple EM conductors and
magnetic lineaments on the CLR property, make it highly prospective
for the discovery of a uranium deposit hosted in the basement. The
Company will provide updates on its work plans as soon as they
become available.
The Company cautions the discoveries and
observations on properties in proximity to the Company's properties
are not necessarily indicative of the presence of similar
mineralization or geology on the Company's properties.
Dr. Peter Born, PGeo, is the designated
qualified person as defined by National Instrument 43-101 and is
responsible for and has approved the technical information
contained in this release.
About Kiplin
Metals Inc.Kiplin Metals Inc. is a
mineral exploration company that creates value for its shareholders
by identifying and developing highly prospective mineral
exploration opportunities. The company's vertically integrated
strategy aims to advance projects from discovery to production,
providing exceptional shareholder value throughout the entire
mining process.
One of the projects in Kiplin Metals' portfolio
is the Cluff Lake Road Uranium Project, in which the company has
the right to earn a one-hundred percent interest. The CLR Project
covers an approximate area of 531 hectares in the southwestern
Athabasca Basin of northern Saskatchewan. This area has seen
several new discoveries, including the Arrow and Triple R Uranium
deposits. The CLR Project is located 5 km east of the Cluff Lake
Road (Hwy 955), which leads to the historic Cluff Lake Mine. This
mine has a production history of approximately 62,000,000 lbs of
yellowcake uranium.
For additional
information, interested parties may contact the Company at
info@kiplinmetals.com or visit its website at
www.kiplinmetals.com.
On behalf of the
Board,
Kiplin Metals
Inc.
For further information, contact the Company at
604-622-1199.
On behalf of the Board of Directors,
“Peter Born”Director
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may include forward-looking
statements that are subject to risks and uncertainties. All
statements within, other than statements of historical fact, are to
be considered forward looking. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. There can be
no assurances that such statements will prove accurate and,
therefore, readers are advised to rely on their own evaluation of
such uncertainties. We do not assume any obligation to update any
forward-looking statements except as required under the applicable
laws.
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