Kiplin Metals Reports on Exploration Activities on the Cluff Lake Road Uranium Project, Saskatchewan
October 4th, 2022 - Kiplin Metals Inc. (TSX-V: KIP) (the “Company” or “Kiplin”) announces completion of its exploration program on the Company’s Cluff Lake Road (CLR) Uranium Project in northwestern Saskatchewan. The CLR Project covers ~531ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries, including the Arrow and Tripe R Uranium deposits have been made. The CLR Project is completely surrounded by Fission 3.0 Corp.’s high profile Paterson Lake North (“PLN”) Project.
The exploration program was conducted by a team from Exploration Facilitation Unlimited Inc., based at Big Bear Lodge, Saskatchewan, located approximately 17 kilometres south-southwest of the Project. Activities included:
- 25 line-kilometres of magnetic geophysical survey on lines spaced 100 metres apart, oriented in an E-W direction, to test a N-S trending VTEM conductor that transects the length of the Project.
- Approximately 15 line-kilometres of magnetic geophysics was completed on infill 50 metre lines in areas of known conductors and/or radon gas anomalies.
- In 2017 a previous explorer completed an Alpha Track radon gas sensors survey over most of the current CLR Project with several anomalies indicated. The Company’s recent exploration program comprised prospecting with a handheld spectrometer over the radon gas anomalies and conductive zones, resulting in over 100 radioactive boulders uncovered, with values up to 500 counts per second.
- The western boundary of the CLR Project is flanked by Fission 3.0 Corp.’s “N Conductor Complex”, an active exploration target with one drilled in 2022, and additional worked planned by Fission in the winter 2023.
The Company has the right to earn a 100% interest in the CLR Project and controls all exploration and development of the Project. The recently completed exploration program will assist in defining drill targets. The Company is applying for the requisite permits and expects to be drilling when permits are received.
Peter Born, Director of Kiplin, commented “we are very pleased with the team at Exploration Facilitation Unlimited, and are confident this program will confirm the locations for what we believe are highly prospective targets.”
Dr. Peter Born, P.Geo., 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. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery all the way to production. This vertically integrated strategy allows Kiplin Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.
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 ~531ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries, including the Arrow and Tripe R Uranium deposits have been made. 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 62,000,000lbs of yellowcake uranium.
Exxeter Gold Project covers an area of 715ha located in Val d’Or Quebec, one of the premier gold camps in the world which produced over 113.4M oz Au by the end of 2019. The project covers 3.8km of the Cadillac Tectonic zone, which is the principal geologic structure responsible for cold mineralization in the Val d’Or.
For further information, contact the Company at [email protected], or visit the Company’s 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.
