(TheNewswire)
December 15 th , 2022 – TheNewswire - Kiplin MetalsInc. (TSXV:KIP) (the “ Company ” or“ Kiplin ”) comments on recent resultsannounced by Fission 3.0 Corp. (“ Fission ”) on theirPatterson Lake North (“ PLN ”) Project, immediately adjacent to theCompany’s Cluff Lake Road (“ CLR ”) UraniumProject, located in northwestern Saskatchewan.
The CLR Project covers ~531 hectares in thesouthwestern Athabasca Basin in northern Saskatchewan, where severalnew discoveries, including the Arrow and Tripe R Uranium deposits havebeen made.
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On November21 st and 30 th , 2022 Fission reported a new high-grade uranium discovery inhole PLN22-035 on the PLN Project on the A1 conductor (ground(“EM”) electro-magnetic survey), which intersected 3.48 metres oftotal composite mineralization with greater than 10,000 counts persecond, including 2.5 metres of total off-scale radioactivity (greaterthan 65,535 counts per second), occurring as pitchblende patches. TheFission drill hole PLN22-035 is located approximately 15 kilometresSouth-Southwest of the Company’s CLR Project.
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Fission has also reported (March 2, 2022) on the North ConductorComplex ”, a series of parallel North-Northwestconductors located immediately west of the Company’s CLR Project.The strike direction of the A1 and the North Conductor Complex is verysimilar. The North Conductor Complex comprises three parallelconductors over a width of 1.0 kilometre. The eastern conductor endsat the CLR west boundary and would extend onto the Project. The middleconductor ends about 100 meters west the CLR boundary. There ispotential for all three North Conductors identified by Fission tocontinue and extend on the CLR Project.
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Fission completed one drill hole ( PLN22-029) on the western-most of theNorth Conductor Complex (March 2, 2022) and reported the Athabascasandstone unconformity was intersected at a depth of 675.9 metres andthe drill hole intersected multiple structures in the basementgneisses within a 91 metre core interval that were strongly graphiticin very broken sections of core that display cataclastic and mylonitictextures indicative of both ductile shearing and brittlefaulting.
The new uranium discovery by Fission related to theNorth-Northwest A-1 ground EM conductor is very encouraging, and theNorth Conductor Complex also identified by Fission, with a similarstrike and which trends onto the CLR Project, represents a highpriority drill target for the Company in 2023.
The Company is the beneficiary of a 100% interest inthe Cluff Lake Road Uranium Project and controls all exploration anddevelopment of the Project. The recentlycompleted exploration program will assist in defining drill targets.The Company is applying for the requisite permits and expects to bedrilling when permits are received. Readers are cautioned that thepresence of mineralization in areas adjacent to those held by theCompany is not necessarily indicative of mineralization that mayexisting on property held by the Company.
Dr. Peter Born, P.Geo., is the designated qualifiedperson as defined by National Instrument 43-101 and is responsiblefor, and has approved, the technical information contained in thisrelease.
About Kiplin Metals Inc.
Kiplin Metals Inc. is a mineral exploration company. We create value for ourshareholders by identifying and developing highly prospective mineralexploration opportunities. Our strategy is to advance our projectsfrom discovery all the way to production. This vertically integratedstrategy allows Kiplin Metals to achieve exceptional shareholder valuethrough the entire life-cycle of the mining process.
Cluff Lake Road UraniumProject. Kiplin Metals has the right to earn a one-hundred percent interest in the Cluff LakeRoad Uranium Project (the “CLR Project”). The CLR Project covers ~531ha inthe southwestern Athabasca Basin in northern Saskatchewan, whereseveral new discoveries, including the Arrow and Tripe R Uraniumdeposits have been made. The CLR Project is 5 kmeast of the Cluff Lake Road (Hwy 955), which leads to the historicCluff Lake Mine, which historically produced approximately62,000,000lbs of yellowcake uranium.
Exxeter Gold Project covers an area of 715ha located in Val d’Or Quebec, one ofthe premier gold camps in the world which produced over 113.4M oz Auby the end of 2019. The project covers 3.8km of the Cadillac Tectoniczone, which is the principal geologic structure responsible for coldmineralization in the Val d’Or.
For further information, contact the Company at info@kiplinmetals.com , or visit theCompany’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 ofDirectors,
“Peter Born”
Director
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
This news release may include forward-lookingstatements that are subject to risks and uncertainties. All statementswithin, other than statements of historical fact, are to be consideredforward looking. Although the Company believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performanceand actual results or developments may differ materially from those inforward-looking statements. There can be no assurances that suchstatements will prove accurate and, therefore, readers are advised torely on their own evaluation of such uncertainties. We do not assumeany obligation to update any forward-looking statements except asrequired under the applicable laws.
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