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Kiplin Metals Acquires Rights to Cluff Lake Road Uranium Project, Saskatchewan
(TheNewswire) TheNewswire - December 5 th , 2021 – Kip...
About this update from Kiplin Metals Inc.
[{"type":"text","content":"Kiplin Metals Acquires Rights to Cluff Lake Road Uranium Project, Saskatchewan\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire -\n \n \n December 5\n \n \n th\n \n \n , 2021\n \n \n – Kiplin Metals Inc.\n \n \n (TSXV:KIP)\n \n \n (OTC:ALDVF)\n \n \n (the “Company” or “Kiplin”)\n \n \n is\npleased to announce that it has been granted an option to acquire a\none-hundred percent interest in the Cluff Lake Road Uranium Project\n(the “CLR Project) from an arms-length third-party.  The CLR\nProject covers ~531ha in the southwestern Athabasca Basin in northern\nSaskatchewan, where several new discoveries, including the Arrow and\nTripe R Uranium deposits have been made. The CLR Project is 5km east\nof the Cluff Lake Road (Hwy 955), which leads to the historic Cluff\nLake Mine, which historically produced approximately 62,000,000lbs of\nyellowcake uranium.\n \n \n \n \n The CLR Project adjoins the eastern border of Fission\n3.0’s Patterson Lake North Project, which has a long history of\nexploration.  In 2013 and 2017 Zadar Ventures Ltd. completed both a\nDC Resistivity Geophysical Survey and a Radon Cup Survey at the CLR\nProject and defined the primary exploration target: a resistive\nanomaly, approximately 4km long, trending generally north-south and\nwhich is concurrent with radon gas anomalies, the latter being a\nuranium decay product.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n At present, the Company is specifically reviewing\nsimilarities between the Shea Creek Deposit and the CLR Project. The\n \n \n Shea Creek Uranium Deposit is located ~30km\nnorthwest of the CLR Project and has an indicated mineral resource of\n67.66 million pounds of uranium (2,067,900 tonnes grading 1.48% U3O8)\nand an inferred mineral resource of 28.19 million pounds of U3O8\n(1,272,200 tonnes grading 1.01% U3O8) (Technical Report by Eriks P.\nGeo. 2013).\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Under the terms of the option, the Company can earn a\n100% interest in the CLR Project by making total cash payments of\n$120,000 over a 2-year period and spending $50,000 on exploration\nwithin the first year.  Following exercise of the option, the CLR\nProject will be subject to a one-percent net smelter returns royalty\nwhich can ...