December 2, 2010
Kirrin Resources Inc. announced proceeding with a non brokered private placement of up to 14,000,000 flow-through (FT) units at a purchase price of Can$0.10 per FT Unit for aggregate gross proceeds of up to Can$1,400,000. The proceeds will be used to finance exploration on its portfolio of rare earth element (REE) and uranium properties.
June 17, 2009
Kirrin Resources Inc. has entered into an option agreement with Kodiak Exploration Ltd. allowing it to earn up to a 70% interest in Kodiak’s Otish Basin uranium property portfolio located in Québec, Canada. Kodiak has an extensive land package covering 428.7 square kilometres of the Otish Basin that includes a wide range of geological settings, target types, showings and geochemical anomalies. Much of the ground formerly belonged to Uranerz, a large European uranium company that explored here in the 1970s, but allowed its claims to lapse after uranium prices collapsed in the early 1980s. Kirrin may earn an initial 51% interest in the Otish Basin portfolio by spending $2.8 million on exploration by December 31, 2012, and may earn a further 19% interest by spending a further $1.5 million by December 31, 2015, making an aggregate commitment for a 70% interest of $4.3 million. Kirrin will be the operator of the project.
October 23, 2008
On the UR East property, the newly discovered Big Bang outcrop returned multiple readings of 66,000 counts per second (equivalent to more than 10,000 ppm U or 1.18% U3O8) from an extensive uranium-rich shear zone at least three metres wide that occurs near the intersection of several major regional structures. These readings of 66,000 cps are the maximum levels detectable by the RS-125 spectrometer used for the program. The actual values could be significantly higher. The RS-125 Spectrometer is calibrated in the factory against measured standards, and self-calibrates in the field by adjusting to changing levels of background radiation.