|May 24, 2011|
Kirrin Resources Announces Completion of Airborne Geophysics Survey at Key Lake SW
|Calgary, Alberta: Kirrin Resources Inc. today announced the completion of a 1,531 line-kilometre helicopter-borne time-domain electromagnetic geophysical survey of the Key Lake Southwest ('Key Lake SW') uranium property located on the southeastern margin of the Athabasca Basin in Saskatchewan, Canada. The survey was flown using Geotech Ltd's Versatile Time-Domain Electromagnetic (VTEM Plus) geophysical system. |
Kirrin has appointed Savaria Geophysics Inc. of Toronto, Ontario, ('Savaria') to undertake integration of the prior Fugro airborne Tempest-magnetic survey completed in early 2010 (news release July 6, 2010) and interpretation of the aggregate data acquired by Kirrin. Savaria anticipates submitting its report by end June, following which Kirrin will commence a program of summer fieldwork with the objective of finalizing the selection of drill sites.
The eastern margin of the Athabasca Basin is home to the most productive uranium mines in the world with roughly 25% of the world's uranium production coming from this area. Kirrin's target at Key Lake SW is basement-hosted unconformity-type uranium deposits, similar to Cameco's basement-hosted Millennium deposit, located about 50 km to the northeast; the Phoenix discovery, located about 60 km northeast; and the former Key Lake mine, located about 35 km east-northeast .
Reg A. Olson, Ph.D., P. Geol. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Derek J Moran, President, Kirrin Resources Inc.
27 82 440 3426
Robin Cook, Account Manager, CHF Investor Relations
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.
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 press release contains forward-looking statements concerning the availability of data and reports and the timing and constituents of exploration 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 exploration program assumes 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 press 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.
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