(TheNewswire)
TheNewswire - June 29, 2023 - Kiplin Metals Inc. (TSX-V:KIP) (the “Company” or“Kiplin”) is pleased to provide an update on thepreparations for its upcoming summer exploration program on the CluffLake Road (CLR) uranium project, situated in the highly prospectivesouthwestern Athabasca Basin of northern Saskatchewan.
Field crews have been mobilized and are ready to commence the inducedpolarization (IP) resistivity geophysical survey upon the receipt ofthe exploration permit. The Company has submitted the requiredexploration permit application to the Saskatchewan Ministry ofEnvironment for review and approvals, with an anticipated approvalthis month
The primary objective of the upcoming survey is to enhance theexisting data set of the CLR property and identify vectors that willincrease the likelihood of discovering uranium deposits. Kiplin'sexploration teams are committed to adopting innovative concepts indeposit formation study and exploration methods, utilizing new skillsand techniques to position the Company as a leader in uranium depositdiscovery.
As previously reported (Press Release dated May 17th, 2023), Kiplin'ssummer program will focus on the central portion of the CLR property.The survey will cover several promising targets already identified,including:
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Three parallel (South-Southeast) conductors over awidth of one kilometre identified on F3 Uranium Corp.’s PatersonLake North (PLN) property, designated as the North Conductor Complexthat trend onto the western portion of the CLR property.
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Multiple other magnetic lineaments on the CLR propertyboth parallel and cross-cutting to the North Conductor Complextrend.
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Multiple Alpha Track radon gas sensors anomaliespreviously completed (2017) and spectrometer radioactivity anomaliesdiscovered by the Company in 2022 (see Press Release, November 23,2022). Background radioactivity readings with a handheld RadiationSolutions RS-125 Super-SPEC gamma-ray spectrometer (*) are in the 20-50 counts per second (cps) range, with over 100 anomalous boulders inthe 100-500 cps range detected.
(*) Natural gamma radiation inoutcrop locations reported in this news release was measured in countsper second using a handheld Radiation Solutions RS-125 Super-SPECgamma-ray spectrometer. The reader is cautioned that spectrometerreadings are not directly or uniformly related to uranium grades ofthe rock sample measured and should be used only as a preliminaryindication of the presence of radioactive materials.
These prospective targets, coupled with the extensive data collectionefforts, demonstrate Kiplin's commitment to thorough exploration andthe pursuit of potential uranium deposits within the CLR property.
Dr. Peter Born, Director of Kiplin, stated, "Our upcoming summer program supportsour continued exploration efforts on the CLR project. With theimplementation of innovative exploration techniques and our focus onhigh-potential targets, we aim to enhance our understanding of theproperty and increase our chances of making significant discoveries.We are excited about the potential of the CLR project and remaindedicated to delivering value to our shareholders.”
Kiplin will conduct its exploration activities adhering to the highestenvironmental management standards and maintain close co-operationwith local stakeholders, including indigenous communitiesthroughout the permitting, exploration, and closurestages.
Incentive Option Grant
The Company also announces that it has granted1,500,000 incentive stock options (the “ Options ”) to thedirectors and officers of the Company. The Options vest immediatelyand are exercisable at a price of $0.21 until June 29, 2024.
Qualified Person
Dr. Peter Born, PGeo, 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 ~531 ha inthe southwestern Athabasca Basin in northern Saskatchewan, whereseveral new discoveries, including the Arrow and Triple 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 approximately 62,000,000lbs of yellowcake uranium.
For further information, contact the Company at info@kiplinmetals.com or604-622-1199, or visit the Company’s websiteat www.kiplinmetals.com .
On behalf of the Board,
Kiplin Metals Inc.
“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 performance and actual results or developments maydiffer materially from those in forward-looking statements. There canbe no assurances that such statements will prove accurate and,therefore, readers are advised to rely on their own evaluation of suchuncertainties. We do not assume any obligation to update anyforward-looking statements except as required under the applicablelaws.
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