The CLR Project is 5 km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately 62,000,000 lbs of yellowcake uranium.
VANCOUVER, British Columbia, May 10, 2023 (GLOBE NEWSWIRE) -- Kiplin Metals Inc. (TSX-V: KIP) ("Kiplin" or the "Company") is delighted to announce the upcoming launch of its summer geophysical program at the Cluff Lake Road (CLR) uranium project situated in northwestern Saskatchewan, scheduled for June 2023. The Company's geological team is set to receive the necessary permit by the end of May and aims to mobilize on-site by June.
The CLR property lies in a region with strong prospects for uranium deposits. Kiplin's summer program will include at least 8 line-kilometres of Induced Polarization (IP) resistivity geophysical surveying, running approximately in an east-west orientation. The program's objective is to generate fresh targets for subsequent drilling and to better delineate the uranium mineralization at the CLR project.
"We are excited to start our exploration program on the CLR uranium project," said Peter Born, Director of Kiplin. "The region has shown great potential for uranium deposits, and we believe that our summer program will identify new targets for follow-up drilling, adding value for our shareholders."
The Company's CLR property is surrounded by F3 Uranium Corp.'s prominent Paterson Lake North (PLN) project, which recently revealed the discovery of the JR high-grade uranium zone in November 2022. F3 announced intersections in drill hole PLN22-038, comprising 11.0 meters averaging 4.20 percent triuranium octoxide, including a 4.5-meter interval averaging 9.8 percent U3O8. This indicates the presence of the latest basement-hosted uranium deposit in Athabasca, akin to Fission Uranium Corp.'s Triple R uranium deposit.
Kiplin will conduct its exploration activities adhering to the highest environmental management standards and maintain close cooperation with local stakeholders, including indigenous communities. The Company will initiate dialogue and consultations with indigenous partners and stakeholders, continuing throughout the permitting, exploration, and closure stages.
The Company will provide updates on the scheduling of its permitting and work program as and when they are available. The Company advises that discoveries and observations on nearby properties do not necessarily imply the existence of similar mineralization or geological features on the Company's properties.
The Company will release updates regarding its permitting and work program schedules as information becomes available. Kiplin emphasizes that findings and observations on neighbouring properties do not necessarily indicate the presence of comparable mineralization or geological characteristics 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 aims to generate value for its shareholders by identifying and pursuing highly prospective mineral exploration opportunities. Our strategy involves advancing projects from discovery to production through a vertically integrated approach, ensuring exceptional shareholder value is delivered across the entire mining process life-cycle.
Cluff Lake Road Uranium Project.Kiplin Metals has the right to earn a one-hundred percent interest in the Cluff Lake Road Uranium Project (the “CLR Project”). The CLR Project covers ~531 ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries have been made, including the Arrow and Triple R Uranium deposits. The CLR Project is 5 km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately 62,000,000 lbs of yellowcake uranium.
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.
