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VANCOUVER, Aug. 1 /CNW/ - International KRL Resources Corp. (TSXV:IRK) and Logan Resources Ltd. (TSXV:LGR) today jointly announced that they have staked an additional 1,311 claims prospective for nickel at the Turn River Project in the Cassiar Plateau region of the Yukon. The massive uranium-nickel project now consists of 3,531 claims over twelve independent blocks, covering approximately 74,287 hectares (183,567) acres. Each company holds a 50% interest in the project.
The newly staked ground is the largest of the twelve claim blocks and covers a package of ultramafic intrusives and volcanics. Samples collected by the GSC in a 2003 regional stream geochemical survey, returned values up to 545 ppm nickel from the newly staked claims.
"The elevated nickel values as well as the coincident ultramafic intrusive package make this a prime target area for nickel exploration. This addition increases the significance and value of the Turn River project and further diversifies the exploration portfolios of both companies," said Mike Hibbitts, Vice President of Exploration.
In addition to the nickel potential, the Turn River project has tremendous uranium discovery potential. The highest known uranium silt geochemical values in the Yukon are found in the Cassiar Plateau region. The uranium silt geochemical values of samples collected from the property are also consistently high, with significant values of up to 291 ppm, which is 21 times higher than the 95th percentile (13.6 ppm) for uranium silt geochemical samples in the Yukon and 8 times higher than the 95th percentile (34.7 ppm) in the Cassiar Plateau.
The two companies plan to carry out an aggressive exploration program on this property including airborne radiometric surveys, prospecting, mapping and geochemistry.
Michael Hibbitts, P.Geo, Vice President Exploration is the Qualified Person for this property.
About International KRL Resources Corp.:
International KRL Resources Corp. is a mineral exploration company engaged in the acquisition, exploration and advancement of Canadian mineral properties. It has a tremendous property portfolio prospective for uranium, copper, gold and nickel. The Company is currently drilling at its Nor IOCG project in the Yukon. For more information on the properties and International KRL Resources Corp. please visit www.krl.net, www.sedar.com and www.sec.gov websites.
About Logan Resources Ltd.:
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties prospective for precious metals, base metals and uranium. It has an exceptional property portfolio with discovery potential. The Company is currently exploring for copper, gold, uranium and nickel in the Yukon Territory, uranium in Saskatchewan's uranium-rich Athabasca Basin (Carswell) as well as gold, silver, lead and zinc in British Columbia (Redford, Albert Creek, Antler Creek. For more information on the property portfolio and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
On Behalf of the Board of International KRL Resources Corp. and Logan Resources Ltd.
"Judith T. Mazvihwa"
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Judith T. Mazvihwa
CFO & Director
Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.