|June 27, 2011|
Kirrin Commences Gravity Survey to Define Drill Targets at Grevet Ree Property
|Calgary, Alberta: Kirrin Resources Inc. 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 GéoMégA 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Derek J Moran, President, Kirrin Resources Inc. 27 82 440 3426
Robin Cook, Account Manager, CHF Investor Relations (416) 868-1079
To receive company news releases via e-mail, please advise [email protected] and specify "Kirrin News" in the subject line.
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 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.
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