VANCOUVER, Aug. 1 /CNW/ - International KRL Resources Corp. (TSXV:IRK)
and Logan Resources Ltd. (TSXV:LGR) today jointly announced that they have
staked an additional 1,311 claims prospective for nickel at the Turn River
Project in the Cassiar Plateau region of the Yukon. The massive uranium-nickel
project now consists of 3,531 claims over twelve independent blocks, covering
approximately 74,287 hectares (183,567) acres. Each company holds a 50%
interest in the project.
The newly staked ground is the largest of the twelve claim blocks and
covers a package of ultramafic intrusives and volcanics. Samples collected by
the GSC in a 2003 regional stream geochemical survey, returned values up to
545 ppm nickel from the newly staked claims.
"The elevated nickel values as well as the coincident ultramafic
intrusive package make this a prime target area for nickel exploration. This
addition increases the significance and value of the Turn River project and
further diversifies the exploration portfolios of both companies," said Mike
Hibbitts, Vice President of Exploration.
In addition to the nickel potential, the Turn River project has
tremendous uranium discovery potential. The highest known uranium silt
geochemical values in the Yukon are found in the Cassiar Plateau region. The
uranium silt geochemical values of samples collected from the property are
also consistently high, with significant values of up to 291 ppm, which is 21
times higher than the 95th percentile (13.6 ppm) for uranium silt geochemical
samples in the Yukon and 8 times higher than the 95th percentile (34.7 ppm) in
the Cassiar Plateau.
The two companies plan to carry out an aggressive exploration program on
this property including airborne radiometric surveys, prospecting, mapping and
Michael Hibbitts, P.Geo, Vice President Exploration is the Qualified
Person for this property.
About International KRL Resources Corp.:
International KRL Resources Corp. is a mineral exploration company
engaged in the acquisition, exploration and advancement of Canadian mineral
properties. It has a tremendous property portfolio prospective for uranium,
copper, gold and nickel. The Company is currently drilling at its Nor IOCG
project in the Yukon. For more information on the properties and International
KRL Resources Corp. please visit www.krl.net, www.sedar.com and www.sec.gov
About Logan Resources Ltd.:
Logan Resources Ltd. is a mineral exploration company that specializes in
acquiring, exploring and advancing Canadian mineral properties prospective for
precious metals, base metals and uranium. It has an exceptional property
portfolio with discovery potential. The Company is currently exploring for
copper, gold, uranium and nickel in the Yukon Territory, uranium in
Saskatchewan's uranium-rich Athabasca Basin (Carswell) as well as gold,
silver, lead and zinc in British Columbia (Redford, Albert Creek, Antler
Creek. For more information on the property portfolio and the Company, please
visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
On Behalf of the Board of International KRL Resources Corp. and Logan
"Judith T. Mazvihwa"
Judith T. Mazvihwa
CFO & Director
Statements contained in this news release that are not historical facts
are forward-looking statements, which are subject to a number of known and
unknown risks, uncertainness and other factors that may cause the actual
results to differ materially from those anticipated in our forward looking
statements. Although we believe that the expectations in our forward looking
statements are reasonable, actual results may vary, and we cannot guarantee
future results, levels of activity, performance or achievements.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: Judith T. Mazvihwa, CFO & Director,
International KRL Resources Corp. & Logan Resources Ltd., (604) 689-0299 x223;
Natasha Blackburn, Director of Corporate Development, International KRL
Resources Corp. & Logan Resources Ltd., (604) 689-0299 x 224; The RAYA Group,
Investor Relations - Logan Resources Ltd., Toll-free: 1-877-626-2121