Kiplin Metals Secures Exploration Permit for Cluff Lake Uranium Project
November 20th, 2023 – TheNewswire - Kiplin Metals Inc. (the “Company” or “Kiplin”) (TSXV:KIP) (FWB:17G1) announces the receipt of an exploration permit for its Cluff Lake Road Uranium project, situated on the western periphery of the Athabasca Basin. This development marks an important step forward in the Company’s exploration endeavors in the promising uranium-rich region.
The exploration program is set to commence with a 4km induced polarization (IP) ground geophysical survey, aimed at mapping subsurface conductive anomalies within the Cluff Lake Uranium project area. These anomalies, identified at depths ranging between 200-300 meters and spanning several kilometers, are interpreted as substantial alteration zones residing within the Athabasca sandstone. These zones bear the potential to host significant uranium mineralization. The data gleaned from this comprehensive survey will be seamlessly integrated into the project's database, facilitating the delineation of prime targets for upcoming diamond drilling initiatives.
In the backdrop of an evolving global uranium market, characterized by increasing demand for clean and sustainable energy sources, the timing of this exploration permit aligns strategically with the rising significance of uranium as a key component in the energy landscape. Market projections continue to underscore the pivotal role of uranium in fulfilling clean energy requirements, highlighting its essential role in the transition towards a low-carbon future.
“We are immensely appreciative to have received the exploration permit for our Cluff Lake Uranium project,” remarked Peter Born, Director at Kiplin. “This permit represents a key step in our pursuit of unlocking the potential of this promising site. We are eager to embark on the planned exploration activities and further advance our understanding of the project's resource potential.”
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 to production, allowing Kiplin to achieve exceptional shareholder value through the entire life-cycle of mining.
Cluff Lake Road Uranium Project. Kiplin has the right to earn a one-hundred percent interest in the Cluff Lake Road Uranium Project (the “CLR Project”). The CLR Project covers ~531 ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries have been made, including the Arrow and Triple R Uranium deposits. The CLR Project is 5 km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately 62,000,000 lbs of yellowcake uranium.
Lloyd Lake Uranium Project. The Lloyd Lake Uranium Project spans 6,177 hectares and is situated 27 kilometers south of the southern boundary of the Athabasca Basin. The project has undergone extensive exploration programs, most notably in 2022, with investigations including sediment sampling, airborne magnetics, and ground IP surveys. The key exploration zone is an 8 kilometer corridor characterized by a magnetic low which aligns with a structural break, a locale where anomalous radioactivity has been detected. Access to the project is optimal, facilitated by a provincial highway and well-maintained roads and trails.
On behalf of the Board,
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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.