(TheNewswire)
May 16 th , 2023 – TheNewswire - Kiplin Metals Inc. (TSXV:KIP)(the " Company " or" Kiplin ") announcesthe submission of exploration permits for its upcoming summerexploration program at its key Cluff Lake Road (CLR) uraniumproject . The permits are currently under review by theSaskatchewan Ministry of Environment for approval.
The CLR property is situated adjacent to F3 Uranium Corp.'s("F3") (previously known as Fission 3.0) prominent PatersonLake North (PLN) project . In November 2022, F3uncovered the JR high-grade uranium zone, which recently reportedintersections (refer to F3 press release dated February 6, 2023) indrill hole PLN22-038 of 11.0 meters averaging 4.20% triuraniumoctoxide, including a high-grade 4.5-meter interval averaging 9.8%U3O8. The JR uranium zone represents the newestbasement-hosted uranium deposit in the Athabasca, similar to theTriple R uranium deposit owned by Fission Uranium Corp.
Kiplin's summer program, contracted to Grander Exploration , willinvolve geophysical surveying focused on the central part of theproperty. The survey will target multiple prospective areas alreadyidentified within the CLR property, including :
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Three parallel (South-Southeast) conductors spanning a width of onekilometre on F3's PLN property, referred to as the North ConductorComplex, which extend onto the western part of the CLR property.
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Several other magnetic lineaments within the CLR property, bothparallel and intersecting the North Conductor Complex trend.
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Multiple Alpha Track radon gas sensor anomalies previously completed(2017) and spectrometer radioactivity anomalies detected by theCompany in 2022 (refer to Press Release, November 23, 2022).Background radioactivity readings obtained using a handheld RadiationSolutions RS-125 Super-SPEC gamma-ray spectrometer (*) range between20-50 counts per second (cps), with over 100 anomalous boulders in the100-500 cps range identified.
(*) The spectrometer readings provided in thisnews release were obtained using a handheld Radiation Solutions RS-125Super-SPEC gamma-ray spectrometer, measuring in counts per second. Itis important to note that spectrometer readings are not directly oruniformly correlated to uranium grades of the measured rock sample andshould be considered as an initial indication of radioactive materialpresence only.
The Company believes that the CLR property's combination of multipleEM (electromagnetic) conductors, magnetic lineaments, radon gas, andradioactivity anomalies make it a highly prospective location fordiscovering a basement-hosted uranium deposit.
Kiplin intends to conduct itsexploration activities in compliance with the strictestenvironmental management standards and maintain open communicationwith local stakeholders, including indigenous communities, throughoutthe permitting, exploration, and closure phases.
The Company will share updates on the progress of its permit approvaland work program as information becomes available. Kiplin emphasizes that findings and observationson neighbouring properties do not guarantee the presence of similarmineralization or geological features on their properties.
Dr. Peter Born, PGeo, the designated qualified person as defined byNational Instrument 43-101, is responsible for and has approved thetechnical information contained in this release.
About KiplinMetals Inc.
Kiplin Metals Inc. is a mineralexploration firm dedicated to identifying and developinghigh-potential mineral exploration opportunities. By advancing ourprojects from discovery through production, we strive to createsignificant value for our shareholders. This comprehensive approachenables Kiplin Metals to generate outstanding shareholderreturns throughout the entire mining process. This verticallyintegrated strategy allows Kiplin Metals to achieveexceptional shareholder value through the entire life-cycle of themining process.
CluffLake Road Uranium Project. Kiplin Metals has the right to earn a one-hundredpercent interest in the Cluff Lake Road UraniumProject (referred to as the " CLR Project "). The CLR Project spansapproximately 531 hectares in the southwestern region of the AthabascaBasin in northern Saskatchewan, an area known for recent discoveries,including the Arrow and Triple R Uranium deposits. The CLR Project is situated5 km east of Cluff Lake Road (Highway 955), which connects to thehistoric Cluff Lake Mine, a site that has produced an estimated62,000,000 lbs of yellowcake uranium in the past.
For furtherinformation, contact the Company at info@kiplinmetals.com , or visit the Company’s website at www.kiplinmetals.com .
On behalf of theBoard,
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.
CONTACT:
Alex Zertuche
alexz@mrkt360.com
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