February 23rd, 2022 – Kiplin Metals Inc. (TSX-V: KIP) (the “Company” or “Kiplin”) announces that it has identified two high value exploration targets at the Cluff Lake Road Project, in northwestern Saskatchewan. The primary target (CLR1) is characterized as having the highest radon gas emissions in the 2017 survey and which correlates with a strong, north-south trending subsurface conductor (C1) which has a strike of ~3.5km. Radon gas anomalies at CLR1 have been interpreted exist within a northeast trending cross fault which intersects the conductor, roughly in the center of the project area. Radon gas, a decay product of uranium, is a significant exploration marker. The secondary target (CLR2) is located at the north end of the project area. Similarly, CLR2 is characterized by highly anomalous radon gas emissions coincident with the C1 conductor.
The 2022 IP/DC-Resistivity survey to be conducted by the Company will focus on the two targets zones. Survey lines have been designed to maximize depth penetration and accuracy, with the intention of guiding diamond drilling.
The Company is very excited about the CLR project, particularly given the success at the Shea Creek deposit, which is located ~29km to the north, along the Cluff Lake Road, and which has an indicated mineral resource of 67.66 million pounds of uranium (2,067,900 tonnes grading 1.48% U3O8) and an inferred mineral resource of 28.19 million pounds of U3O8 (1,272,200 tonnes grading 1.01% U3O8) (Technical Report by Eriks P. Geo. 2013).
The Company will provide updates on the timing of its exploration plans as they become available.
Dr. Peter Born, P.Geo., 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. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery all the way to production. This vertically integrated strategy allows Kiplin Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.
Cluff Lake Road Uranium Project. Kiplin Metals has the right to earn a one-hundred percent interest in the Cluff Lake Road Uranium Project (the “CLR Project”). The CLR Project covers ~531ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries, including the Arrow and Tripe R Uranium deposits have been made. The CLR Project is 5km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately 62,000,000lbs of yellowcake uranium.
Exxeter Gold Project covers an area of 715ha located in Val d’Or Quebec, one of the premier gold camps in the world which produced over 113.4M oz Au by the end of 2019. The project covers 3.8km of the Cadillac Tectonic zone, which is the principal geologic structure responsible for cold mineralization in the Val d’Or.
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,
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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.