(TheNewswire)
March 27, 2023 - TheNewswire - KiplinMetals Inc. (TSX-V:KIP) (the “ Company ” or“ Kiplin ”) has completed a review of theelectromagnetic (“EM”) conductors on, and adjacent to, theCompany’s Cluff Lake Road (CLR) UraniumProject, located in northwestern Saskatchewan, which is surrounded byF3 (“F3”) Uranium Corp.’s (formerly Fission 3.0) high profile Paterson Lake North (“PLN”) Project.
In November 2022 F3 discovered the “JR” high gradeuranium zone, with recently reported intersections (F3 Press Release,February 6, 2023) in drill hole PLN22-038 of 11.0 metres averaging4.20% U3O8, including a high-grade 4.5 metre interval averaging 9.8%U3O8. The “JR” uranium zone represents the newest, basement hosteduranium deposit in the Athabasca, similar to the Triple R uraniumdeposit owned by Fission Uranium Corp.
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Airborne and ground electro-magnetic (“EM”)geophysical surveys are an effective exploration tool for discoveringbasement hosted uranium mineralization, in association with graphiticstructures and clay alteration. The F3 discovery of the JR Zone inhole PLN22-035 resulted from follow-up drilling on the “A1”conductor.
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The Company’s CLR project is approximately 15kilometres North-Northwest of the F3 JR Discovery Zone but is adjacentto F3’s North ConductorComplex . These conductors as indicated on the F3website, trend South-Southeast and extend onto the Company’s CLRproperty. Drilling one hole ( PLN22-29 ) on the North Conductor Complex by F3(Press Release November 28, 2022) returned the following:
“Drill hole PLN22-029, which wasthe first test of the N conductor complex in the northeast part of theproperty, intersected highly elevated boron values over a 70 minterval within Athabasca sandstone averaging 1,051 parts per millionboron from 550 to 620 m, including a 10 m interval averaging 1780 ppmboron, above graphitic faults in the basement. This is consideredhighly anomalous due to both the significant width of the intersectionand the highly elevated concentrations. Boron is an importantpathfinder element as it occurs along the structural corridors whichhost the uranium deposits in the Athabasca basin. Concentrations ofboron in the sandstone of more than approximately 300 ppm are normallyconsidered anomalous… Anomalous pathfinder elements, including uranium, are associatedwith some of the basement structures. The graphitic and sulphide-richbasement structures correspond to electromagnetic responses. The holewas originally planned to 750 m but was extended at depth to test asmuch geology as possible laterally toward the centre of the Nconductor corridor.
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The F3 North ConductorComplex comprises three parallel conductors over a width of onekilometre. The Company interprets potential forall three North Conductor identified by F3 to continue and extend ontothe Company’s CLR property. In addition, the Company has definedboth parallel and cross-cutting magnetic lineaments on their CLRproperty.
Following the discovery of the JR Zone, the Companyviews the on-trend extensions of F3’s North Conductor Complex ontothe CLR property, the encouraging geology, alteration andmineralization observed in the single drill hole in the area(PLN22-029), and the radon anomalies (Press Release, October 5, 2022)and magnetic lineaments indicated on the CLR property, as very prospective for discovery of abasement hosted uranium deposit. The Companycontinues to review the best type of EMgeophysical surveys to conduct this summer, with ongoing discussionswith contractors, prior to defining drill targets.
The Company is the beneficiary of a 100% interest inthe Cluff Lake Road Uranium Project and controls all exploration anddevelopment of the Project at this time.
The Company cautions the discoveries and observationson properties in proximity to the Company's properties are notnecessarily indicative of the presence of similar mineralization orgeology on the company's properties.
Dr. Peter Born, P.Geo., is the designated qualifiedperson as defined by NationalInstrument 43-101 and is responsible for, andhas 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 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 , 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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