REE Results from Kirrin's Grevet Property Include 20% TREO
12 Oktober 2011 - 2:30PM
Marketwired
Kirrin Resources Inc. (TSX VENTURE:KYM) today announced analytical
results from the second round of sampling at its Grevet REE
property in northwestern Quebec. These include 20% total rare earth
oxides (TREO), comprising almost 100% LREO (see Note 1), in a grab
sample from a carbonatite dykelet. This is a re-sampling of a 2010
location which returned 14% TREO. An additional four samples from
other showings within the Grevet property assayed greater than 10%
TREO and 14 samples ran between 1.0% and 10% TREO. These REE grades
confirm the prospectivity of the Grevet REE property to host
REE-bearing carbonatite deposits.
Commenting on the results, Kirrin President and CEO Derek Moran
said: "We are gaining a better understanding of REE prospectivity
at Grevet. Sampling shows that elevated REE in carbonatite exists
throughout the property. We find this particularly encouraging in
the context of the recessive nature of large carbonatite
occurrences. It is also important to note Grevet's attraction in
relation to infrastructure: there is a Provincial road providing
direct access, a CN railroad line transecting the property, and
power available 25 km southwest at Lebel-sur-Quevillon."
Kirrin completed an intense prospecting program between May 10
and July 14, 2011. Twenty-three new carbonatite showings were
discovered during the program and at least 103 carbonatite showings
which were identified during the 2010 program were re-visited to
gather additional information. Ninety-two rock samples, comprising
56 diamond saw-cut channel samples, 30 chip samples and 6 grab
samples, were collected.
Soil sampling comprised 85 sites that were sampled for both Ah
soil horizon and MMI samples along 5 selected lines across the
inferred carbonatite body. As well, magnetometer surveying was
completed over two areas, totalling 11 line-km, one of which
corresponds to the area of the inferred carbonatite. Finally,
Kirrin also completed a 3.2 line-km reconnaissance gravity survey
with stations spaced at 25 m intervals on 3 lines across the area
of the inferred carbonatite.
The results from the 2011 program are being interpreted and the
conclusions drawn will be published when available. Kirrin will
integrate all new exploration and other geological data, including
the geophysical interpretation of the ground magnetic and gravity
data, with the overall intent being to refine target selection and
define a specific follow-up program of work, including preliminary
drill testing, in 2012. Kirrin anticipates its consultants will
recommend drilling within the Grevet REE property, focusing
especially on larger, but blind or recessive, REE-bearing
carbonatites.
Note 1: LREO = the sum of lanthanum (La2O3), cerium (Ce2O3),
praseodymium (Pr2O3), neodymium (Nd2O3) and samarium (Sm2O3) oxide
analytical results.
Quality Control: The 2011 exploration was carried out by
Discovery Consultants' personnel under the supervision of William
Gilmour B.Sc., P.Geo. and all samples were delivered to Actlabs,
Val d'Or, QC for preparation and analysis. The samples were
analyzed utilizing an inductively coupled plasma mass spectrometer.
The digestion technique was total digestion that employed a lithium
metaborate/tetraborate fusion.
Kirrin is earning a 100% interest in the Grevet REE property by
spending $1,850,000 on exploration and making payments of $20,000
over four years. Kirrin recently extended its land interests and
may earn a 100% interest in the Grevet Extension property by
spending $250,000 on exploration and making payments of $25,000
over four years. The property now consists of 86 claims totalling
2,024 ha.
William Gilmour B.Sc., P.Geo. is the designated Qualified Person
for Kirrin and has reviewed the contents of this news release.
Additional information relating to Kirrin is available on
Kirrin's web site at www.kirrinresources.com and on SEDAR at
www.sedar.com.
Kirrin is a Canadian green energy company that explores for rare
earth elements and uranium. In addition to its exploration
activities, Kirrin seeks to enhance its capitalization and the
quality of its portfolio by utilising its management's broad
industry and international experience in the identification of
suitable rare earth elements and uranium companies and green energy
assets for acquisition, merger, strategic partnership or joint
venture. Its strategy is well defined: enhancing shareholder value
by combining technical expertise, corporate development skills and
professional management. Kirrin's shares trade on the TSX Venture
Exchange under the symbol KYM.
To receive Company news releases via e-mail, please advise
aman@chfir.com and specify "Kirrin News" in the subject line.
Forward-looking information: Except for statements of historical
fact, all statements in this news release including, without
limitation, future plans and objectives of the Company are
forward-looking statements which involve risks and uncertainties.
Specifically, this news release contains forward-looking statements
concerning the review, interpretation and availability of technical
data as part of a continuing exploration program. There can be no
assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those
expressed or implied by such forward-looking information and undue
reliance should not be placed on it. The anticipated time frame for
data availability and the constituents of the planned programs
assumes the availability of personnel and equipment from third
parties and that the Company will continue to allocate sufficient
priority to this work relative to its finite cash resources for its
overall exploration activity. In each case the risk factors that
could cause actual results to vary from results expressed or
implied by the forward-looking statements contained in this news
release are primarily events beyond Kirrin's control. These
forward-looking statements are made as of the date hereof and
except as required by applicable securities legislation, the
Company undertakes no obligation to publically update or revise
forward-looking information, whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Kirrin Resources Inc. Derek J Moran President 27 82
440 3426www.kirrinresources.com CHF Investor Relations Robin Cook
Account Manager (416) 868-1079robin@chfir.com
Kirrin Resources Inc. (TSXV:KYM)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Kirrin Resources Inc. (TSXV:KYM)
Historical Stock Chart
Von Jun 2023 bis Jun 2024