Kirrin Resources Inc. announces 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.
The Key Lake SW property is at the southwest end of the geologically favourable trend that hosts numerous uranium mines and important deposits. Although the property is believed to be somewhat southwest of the margin of the current Athabasca Basin, regolith encountered in old drill holes indicates the Athabasca Supergroup-Wollaston Group basement unconformity was not far above the present ground surface within the property. Discovery of several ‘Ingress style’ uranium deposits, such as Phoenix (up to 117 m below the unconformity), Millennium (up to 100 m below the unconformity), Eagle Point (up to 450 m below the unconformity) and other deposits within the Athabasca Basin, indicates that important uranium deposits can occur from several tens of metres up to a few hundred metres below the unconformity. Hence, there is potential for important basement-hosted uranium deposits to exist within the Key Lake SW property.
The Key Lake SW property is underlain by Aphebian amphibole, pelitic-psammitic gneisses, iron formation and leucogranite. The Aphebian rocks lie on Archean felsic gneisses. The boundary between the Mudjatik and Wollaston Domains passes through the eastern part of the property. Most of the property lies west of this line. Although the sandstone does not cover any of the eight claims now, the assumption that it once did is reasonable. The unconformity uranium deposit model or a derivative should apply to all of the claims in the property. Basement hosted uranium mineralization discovered at Millennium, southwest of the McArthur mine and new zones in the Collins Bay Eagle mine emphasize the potential to discover a similar style of uranium mineralization on the property.
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.