KRL is being touted today by Stock Research Group Inc. Does anyone have information beyond what they report about this company? History, principals, reliability of results, realities regarding their holdings, etc?
Here is a copy of the Stock Research Group report:
KRL RESOURCES CORP. (KRL:VSE)
** Trading mid $0.20 Cdn range (minimal downside risk)
** Aggressive exploration program to begin mid-late May
** Previous drilling on Cook Property intersected high grade gold
mineralization, including 54.17 g/tonne gold over 3.96 meters ** Full
corporate profile at tandemcap.com
KRL Resources Corp. is a Canadian exploration company with interests
in some of the most active mining areas in Canada. Included in KRL's
portfolio is properties in the Shinning Tree Gold Camp near Timmins,
Ontario, properties along the Yukon-B.C. Border, and properties in
Northwestern British Columbia in the Stewart region. KRL's holdings
include wholly-owned properties and joint-ventures with senior mining
companies. The following will provide you with a summary of the
current projects that will be actively worked upon through the spring
and summer. We also have a 6 page report offering more indepth
information on these properties and more if you are interested.
HIGHLIGHTS
Cook Property - previous drilling 54.17 g/tonne over 3.96 meters and
8.57 g/tonne gold over 7.62 meters - trenching and drilling program to
commence shortly.
Watson-Liard Property - mineral showings assaying 8.94 oz/tonne
silver, 46.3% lead, and 22.6% zinc (massive sulfide target) - drilling
to commence end of May.
ONTARIO - KRL Resources Corp. now controls one of the largest land
positions (approximately 12,000 acres) in the Shining Tree Gold Camp
approximately 80 kilometer south of Timmins.
COOK PROPERTY - trenching & drilling program to commence within the
next 30 days. This single mining lease is owned 100% by KRL Resources
Corp. Broad surface zones of altered green volcanics grade from 1.37
to 3.67 g/tonne gold. Previous drilling of these zones intersected
high grade gold mineralization, including 54.17 g/tonne over 3.96
metres and 8.57 g/tonne gold over 7.62 metres.
Exploration during 1995 consisted of induced polarization surveying
followed by diamond drilling. One drill hole intersected 18.5 metres
(core length) of quartz stockwork which graded 3.67 grams per tonne
gold. Airphoto interpretation and re-interpretation of aerial
magnetics clearly show that this zone extends northwest-southeast over
a considerable distance and KRL Resources Corp. now controls about 3.2
kilometers along this broad zone.
In 1996 diamond drilling along strike of the Cook showing encountered
significant gold mineralization. Mineralization was also encountered
at a depth not previously drilled on the property. Indications are
that gold mineralization is structurally controlled, proximal to
specific rock types, and continues at depth over widths of at least 13
metres (43 feet).
The 1997 exploration program will include diamond drilling of four
more holes totaling 2000 metres to test the lateral and down dip
continuity of the Cook mineralization. A soil geochemical survey for
gold will be completed and anomalies will be trenched to expose and
sample mineralization. At least one other gold showing on the
property, examined previously by Cyprus Canada, will be tested with
soil geochemistry, trenching, geophysics, and diamond drilling.
YUKON - B.C. BORDER
Recent exploration in the Wolverine Lake area of the Yukon has
resulted in the discovery of some major volcanognic massive sulfide
(VMS) deposits within the Nasina Formation. Among these are Cominco's
Kudz Ze Kayah and Atna/Westmin's Wolverine deposit. VMS deposits
commonly occur in clusters, and it is clear that these rocks are
exceptionally prospective for further discoveries. The whole area is
now staked with a great deal of exploration activity. KRL Resources
Corp. holds properties in both the Wolverine and Watson Lake areas.
KRL's first plan of attack in this area is to drill the Watson-Liard
property which forms part of the Watson Project.
WATSON - LIARD PROPERTY - drilling program to commence within the next
30 days The Watson-Liard claims are located eight km southeast of
Watson Lake, straddling the Yukon-British Columbia border. The
property covers about 2850 hectares (7042 acres) near the Liard
Canyon.
This property is highly prospective for sediment hosted
lead-zinc-silver mineralization. Two mineral showings on the claim
ground have been documented - 20 cm wide lenses of lead-zinc sulfides
in calcareous mudstones, assaying 8.94 oz/ton silver, 46.3% lead, and
22.6% zinc; and a 2 m wide barite lense in carbonaceous shales
containing patches of base metal and silver mineralization. As well a
20 metre thick horizon of bedded pyrite in shales is reported near the
barite occurrence.
In 1996, KRL completed a program of airborne and ground geophysics,
soil sampling, trenching, and prospecting. Coincident magnetic and
VLF-EM conductor anomalies were outlined which will be tested with 600
meters of diamond drilling in the coming season.
NORTHWESTERN BRITISH COLUMBIA
The Stewart-Iskut area in northwestern B.C. comprises one of the
richest precious metal regions in Western Canada. KRL Resources Corp.
holds 100% interest in 363 claim units in the area, totaling about
9,000 hectares (22,200 acres). The claims are adjacent to the recent
Teuton/Minvita gold discovery and Royal Oak's Red Mountain deposit.
Red Mountain is reported to contain preliminary reserves of 2.5
million tonnes grading 12.68 grams gold and 38.1 grams per tonne
silver.
Of primary interest is KRL's discovery in 1995 of a potentially large
fracture zone on the Stewart Central Claims which returned values of
0.28 oz/ton gold (9.6 g/tonne) and 0.15% copper from a stockwork
altered rock. Earlier reports of gold values up to 1.20 oz/ton within
quartz veins are believed to be from the same area.
There are at least two potential types of exploration targets that may
be expected to occur on these claims. Disseminated gold and sulfide
along contacts analogous to the style of mineralization at Royal Oak's
Red Mountain property and bulk tonnage, low grade porphyry gold and/or
sulfide mineralization associated with stockwork quartz veins in the
Cable Creek area. Previous drilling in the MM Block encountered 29.5
m grading 0.54 g gold, 3.0 m grading 6.86 g gold and 3.65 m grading
5.49 g gold per tonne.
KRL's 1996 exploration was concentrated in the Stewart Central claim
area and in the new southern claim groups, where prospecting and rock
chip sampling returned some encouraging results, including values of
3.32 grams/tonne gold west of Cable Creek and 3973 ppm zinc in the
Glacier Creek area. Follow-up exploration during the coming season
will include an airborne survey over the property and diamond drilling
of the fracture-stockwork gold mineralization. Continued rock
sampling and mapping will be also be carried out.
KRL Resources - Investor Relations
Tandem Capital Group Inc
800-370-4412 Cdn
800-831-2956 US
604-681-7210 direct
dmcfaul@direct.ca
Regards,
Gil |
