Radium Analyses Identify Drill Sites at Kirrin's Alexis River Uranium Project in Labrador
12 Setembro 2011 - 9:30AM
Marketwired
Kirrin Resources Inc. (TSX VENTURE: KYM) is pleased to announce the
completion of radium analyses at its Alexis River uranium property
located in southeastern Labrador. Interpretation of the analyses
points to two narrow radium anomalies, correlating well with
uranium values, as drill targets within the confines of Anomaly
Lake, which has reported up to 0.28% U3O8 in lake sediment.
Commenting on the analyses, Kirrin President and CEO, Derek J
Moran said: "We intersected 0.754% U3O8 across 0.2 m from 58.9 m to
59.1 m core length during a short drill program at Alexis River
which indicated that uranium mineralization is indeed present in
the local environment. This radium study focuses our continuing
exploration program to target more substantial occurrences of
uranium at the Alexis River property."
Kirrin retained Robert H. Morse, Ph.D., P.Eng. to oversee and
interpret the radium analyse which were done by Pylon Electronics
of Ottawa on a suite of seventy lake sediment samples from Anomaly
Lake. This relatively small lake had been identified by the
Geological Survey of Canada and by Kirrin and its antecedents as
very high in uranium values, both in sediment and water. Follow-up
exploration of the Anomaly Lake catchment basin, including drilling
under the lake, did not discover important uranium mineralization,
and thus the cause of the elevated uranium geochemical anomaly was
uncertain. Dr. Morse concluded from his interpretation of the
radium analyses that the most likely explanation is that a high
grade uranium source exists in either the rocks immediately beneath
or adjacent Anomaly Lake, and both uranium and radium were leached
from this source and transported hydromorphically along a structure
passing through Anomaly Lake.
Dr. Morse determined that the elevated radium correlated quite
well with elevated uranium, with the highest values for both being
near the centre of Anomaly Lake. In detail, however, the radium and
uranium distributions are different. The elevated uranium values
show a single large anomaly parallel to and occupying much of the
centre part of the lake. In contrast, although the higher radium
values occupy roughly the same area as the uranium anomaly, the
radium anomaly is split in two along the middle, forming two long
narrow anomalies. The easternmost anomaly is the larger of the two
and extends for about 400 metres.
Among other conclusions by Dr. Morse: (a) the radium values are
well above background determined at other uranium locations in
Canada at which similar analyses have been performed, as are
uranium values, (b) the radium values are much lower than would be
expected in secular equilibrium with uranium, indicating that most
of the anomalous uranium did not arrive in the lake sediments
physically in old mineral grains but by chemical precipitation from
lake or subsurface meteoric water, and (c) the radium values are
much too high to have developed by decay of uranium in the
sediments in the 10,000 years since the last ice age.
Kirrin is earning up to 70% interest in the Alexis River
property by spending $1.25 million on exploration by 30 June 2012.
Kirrin is current on its obligations.
Reg A. Olson, Ph.D., P. Geol., principal of OAR-Rock Geoscience
Ltd., is the designated Qualified Person for Kirrin who 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
lauren@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 completion of a drill program as part of a broader
exploration program and the subsequent availability of data and
reports and the timing and constituents of these programs. 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 and
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 3426 www.kirrinresources.com CHF Investor Relations Robin Cook
Account Manager (416) 868-1079 robin@chfir.com
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