Kirrin Commences Gravity Survey to Define Drill Targets at Grevet REE Property
27 Juin 2011 - 2:00PM
Marketwired
Kirrin Resources Inc. (TSX VENTURE: KYM) announces the commencement
of a geophysical program at its Grevet REE (rare earth element)
project in northwestern Quebec. Kirrin has retained Abitibi
Geophysics Inc. of Val-d'Or, Quebec, to complete a gravity survey
comprising about 3.4 line kilometres at 25-metre station intervals.
The gravity survey will cover sections of the project area that may
be underlain by a large carbonatite body.
Quebec is host to a number of impressive REE sampling and
drilling results, including the Montviel Property operated by
GeoMegA Ressources and the Eldor Property operated by Commerce
Resources Corp. Kirrin commenced exploration at its Grevet REE
property in late April 2010. Sampling results of carbonatite dykes
and dykelets have demonstrated the presence of encouraging amounts
of rare earth elements and include 14.19% TREO (total rare earth
oxide) in a grab sample from a narrow carbonatite dykelet and 1.61%
LREO across 2.2 metres from a wider carbonatite dyke. .
Kirrin has designed a three phase program for its 2011
exploration at the Grevet REE property (NR February 3, 2011). The
first phase commenced in May with prospecting on priority areas,
including the collection of samples and assessment of exploration
potential. Contingent on encouraging results, a second phase of
follow-up work intended to identify and define drill targets could
commence in July. A compilation and interpretation of the results
from phases 1 and 2 will determine if a phase three drill program
would commence in September-October.
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 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 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 through options and
corporate development activity. 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 geophysical 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 CHF Investor Relations Robin Cook Account Manager (416)
868-1079 robin@chfir.com
Kirrin Resources Inc. (TSXV:KYM)
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