International Kirkland Minerals Inc.: Progress Report From Rupert River Uranium Property, Quebecadmin
International Kirkland Minerals Inc. announces the following progress report from the diamond drill program currently underway at the Company’s 900 km2 Rupert River Uranium Property (the “Property”) located in the James Bay Mining District of northern Quebec.
IKI has completed 43 holes for approximately 3,000 m of drilling with holes varying in vertical depth between 60m and 125m. All holes have been logged, sampled and shipped to ALS-Chemex for analysis.
Drilling of the first 43 holes targeted the western anomaly in the Lacroix Lake area, where accessibility from the “Route du Nord” highway was available at the end of the winter season. The principal Lacroix Lake anomaly to the east where the highest and most abundant surface uranium values have been historically obtained is now accessible and will be tested with more than 50 drill holes.
In the current program, the Company intersected uranium bearing pegmatites containing millimetric uraninite fractures at the Lacroix Lake western anomaly, thus confirming a primary source for the uranium within the 3 km by 1.5 km anomaly part of the overall 10 km wide uranium corridor encompassing the Lacroix Lake West and Lacroix Lake East anomalies.
A total of 7 of 43 holes carried no significant uranium values; 2 holes were abandoned due to poor drilling conditions, and assays are still pending on 16 holes. A total of 18 holes to date have intersected anomalous and higher grade uranium values ranging from 0.01% U3O8 over 1.1m (IKI-10) and 0.07% U3O8 over 2.5m (IKI-32), including 0.39% U3O8 over 0.35m of core length. Hole IKI-12 drilled approximately 700m north east of IKI-32 returned the longest uranium interval in drill core to date consisting of 0.012% U3O8 over 10m of core length.
In-fill drilling at the 700m long Lacroix Lake West anomaly is being planned following receipt of the assay results from the 16 holes out for assay and after the next series of drill holes on the primary anomaly at the Lacroix Lake East anomaly located 4 km east of IKI-32. Drilling will commence on the Lacroix Lake East target in mid-July, 2007.
A further 100 holes are planned at the 10 km by 5 km, the 4 km by 2 km and the 6 km by 2 km Du Glas Lake and Nescauso Lake uranium anomalies later this year. These anomalies are situated about 50 km NE of the Lacroix Lake area.
The Qualified Person for the Company’s Rupert River Uranium property is Mr. Jean Lafleur, P. Geo. Assaying was completed by ALS-Chemex of Val-d’Or (Quebec) and North Vancouver (B.C.) using fire assay techniques and protocols under the ME-ICP41 multi-element analysis. The above drill intercepts are core lengths. Further drilling is required to determine true widths.
ON BEHALF OF THE COMPANY,
Dan M. Clark, President
Stock Options: 2,370,000 @ $0.08 to $0.16
Shares Issued: 56,188,858
Restricted Shares: 3,750,000
Warrants: 6,207,143 @ $0.10 to $0.20
The forgoing information may contain forward-looking statements relating to the future performance of IKI. Forward looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company’s filings with the appropriate regulatory authorities.
The TSX Venture Exchange neither approves nor disapproves of the information contained herein.
Contacts: International Kirkland Minerals Inc. Dan M. Clark President (604) 681-3170 (604) 681-3552 (FAX)