VANCOUVER, British Columbia, April 18, 2023 (GLOBE NEWSWIRE) -- 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.
