The Grevet REE property was acquired in February 2010. Rock grab samples from Grevet reveal its attractive REE chemistry, with results ranging from 0.30% up to 5.89% light rare earth oxides (LREO). As well, results from a mobile metal ion geochemical soil survey identified niobium (Nb), yttrium (Y), cobalt (Co), nickel (Ni) and rubidium (Rb) anomalies. The geological data for the Grevet REE property has been reviewed by Dr. David Lentz of the University of New Brunswick, who is a technical consultant to Kirrin. Dr. Lentz suggested that, because of the ferroan carbonatite association with magnetite, the Grevet REE property may have some geological similarities to the large Bayan Obo REE-bearing carbonatitic body in inner Mongolia, China. Bayan Obo is the world's largest REE deposit, containing about 70% of the world's known REE reserves.
Location
The Grevet property is located in Grevet Canton (Township), 30 km northeast of the town of Lebel-sur-Quevillon and approximately 200 km northeast of Val d'Or in north-western Quebec. There is excellent access via provincial road 113 as well as logging roads. A CN railway line bisects the property. The closest airport is at Lebel-sur-Quevillon.
History
Interest in the REE potential of the Grevet area began in 1988 when the Ministry of Energy and Resources of Quebec identified carbonatite occurrences. Subsequently, SOQUEM obtained rock samples in trenches that assayed up to 4.0% lanthanum (La) plus cerium (Ce), which occurs in magnetite veinlets with associated haematitic alteration. Further work and sampling by Michel Proulx ('MP') led to the identification of anomalous REE in haematitic magnetite veinlets and carbonate veins with or without magnetite, in syenite and carbonatite dykes. A rock grab sample revealed the attractive REE chemistry, with results ranging from 0.30% up to 5.89% LREO. As well, results from a mobile metal ion geochemical soil survey identified niobium (Nb), yttrium (Y), cobalt (Co), nickel (Ni) and rubidium (Rb) anomalies. From 2003 to the present, there was little further exploration for REE at the Grevet property, but interest in the property's REE potential was re-kindled as a result of heightened international concern for a world shortfall of REE if China, which currently produces approx. 95% of REE, reduces exports as it has recently indicated.
Land
The Grevet property comprises a group of 14 contiguous mineral claims with a combined total of 662.52 ha (1,636.42 acres) located in Grevet Canton (Township), 30 km northeast of the town of Lebel-sur-Quevillon and approximately 200 km northeast of Val d'Or in north-western Quebec.
Purchase Agreement
Kirrin has an option agreement with Michel Proulx allowing Kirrin to earn a 100% interest in the Grevet REE property. Kirrin is required to spend $1,850,000 on exploration, including a minimum first year commitment of $200,000, and make payments to MP of $20,000, over four years. In addition, Kirrin will pay $150,000 to MP on the receipt of a positive Feasibility Study and MP will retain a 1.0% Net Smelter Returns ('NSR') royalty on all minerals produced from the property, Kirrin having the right to acquire half of this NSR royalty for payment of $500,000.
Geology
The region about the Grevet property is primarily underlain by volcanic, sedimentary and igneous granitoid rocks of the Superior Geological Province. These are locally intruded by Proterozoic diabase dykes. The Archean rocks regionally have been affected by four regional deformation events, although within the Grevet property only two are readily evident. The Grevet property is mainly underlain by Archean basaltic and andesitic volcanic rocks that are cut, in places, by small northwesterly trending Archean gabbros and by carbonatite intrusions which are of uncertain, but probably Archean, age. The Archean rocks are cut north of the property by the southeast-trending Cameron Deformation Zone, which is a regional structural discontinuity, and to the south by the northeast-trending Wedding-Opawica brittle fault. The carbonatite (see Photo) is particularly important because in places there are closely spaced magnetite veinlets and carbonatite dykelets, several of which carry highly anomalous concentrations of LREO up to at least 5.9%. Dr. D. Lentz, a consultant to Kirrin Resources, has looked at the existing geological and geochemical data for Grevet, and has suggested that because of the ferroan carbonatite association with magnetite, the Grevet REE property may have some geological similarities to the large Bayan Obo REE-bearing carbonatitic body in inner Mongolia.
Exploration Program
Exploration on this new acquisition will commence in April 2010 and will include (a) compilation of all pertinent data into GIS (geographic information system) to facilitate ongoing exploration, (b) a preliminary property visit during in the spring to determine the details of follow-up fieldwork, and (c) completion of Phase One fieldwork during the summer period.
Expenditures
| 2010 budget: | $200,000 |
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