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Logan Resources and International KRL Resources provide update on Turn River U-Ni project
VANCOUVER, June 19 /CNW/ - Logan Resources Ltd. (TSX-V:LGR) and International KRL Resources Corp....
About this update from Intrepid Metals Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, June 19 /CNW/ - Logan Resources Ltd. (TSX-V:LGR) and\nInternational KRL Resources Corp. (TSX-V:IRK) today announced that an option\nagreement dated April 2, 2007 with Longview Capital Partners Incorporated has\nbeen cancelled. The agreement granted Longview Capital an option to earn a 50%\ninterest in their jointly-owned Turn River uranium-nickel project in the Yukon\nby spending $15 million in exploration expenditures over five years. Pursuant\nto the option agreement (detailed in Sept. 18, 2007 news release), Longview\nwas required to expend $2 million on exploration before April 2, 2008 and did\nnot meet this commitment.\n\n\nThe Turn River project consists of 3,377 claims in twelve non-contiguous\nblocks, covering an area of 706 km(2) (174,432 acres). The claims will remain\nin good standing until 2009 - 2010. The property is located 95 km northeast of\nWhitehorse and is serviced by the Canol Road. Significant nickel and uranium\nsilt stream sediment geochemical anomalies occur in the area. The elevated\nnickel geochemical data is associated with ultramafic intrusive rocks.\n\n\nLate in the 2007 field season, a helicopter magnetic and radiometric\nsurvey totalling 3,157 line km was flown over the Turn River claim blocks on\nbehalf of It's Your Nickel Exploration Ltd. (a private company partially owned\nby Longview Capital). Three high priority and 24 secondary priority\nradiometric anomalies were identified with potential for uranium\nmineralization. Numerous magnetic anomalies also warrant further exploration\nfor nickel mineralization. International KRL and Logan Resources plan to seek\na joint venture partner to further explore the Turn River Property.\n\n\nPeter T. George, P.Geo., Consulting Geologist is the Qualified Person as\nper NI43-101, responsible for the technical information contained herein.\n\n\nLogan Resources Ltd. and International KRL Resources Corp. are mineral\nexploration companies engaged in the acquisition, exploration and advancement\nof Canadian mineral properties. For further information on the Companies'\ndiversified exploration property portfolio, please visit\nwww.loganresources.ca, www.krl.net, www.sedar.com and www.sec.gov websites.\n\n\nStatements contained in this news release that are not historical facts\nare forward-looking statements, which are subject to a number of kn...