Skarb Reports on Exploration Work at the Gossan and SBS properties; Terminates Agreement to Acquire RDR Project, Quebec
Skarb Reports on Exploration Work at the Gossan and SBS properties;
Terminates Agreement to Acquire RDR Project, Quebec
Vancouver, BC, March 24, 2020 – Skarb Exploration Corp. (“Skarb” or the “Company”) (CSE: SKRB) is
pleased to report the completion of a data compilation and review process to assess the mineralization
potential of the Gossan and SBS properties and plans for an initial field program. This package of work has
not only confirmed the previously identified mineral occurrences but brought to the Company’s attention
new areas of mineralization potential within both the Gossan and SBS properties.
Both Gossan and SBS properties lie within the unceded territory of the Nlaka’pamux Nation in the
Princeton region, BC, along the southeast trend of the Spences Bridge Gold Belt (“SBGB”). Although the
properties are underlain by volcano-sedimentary rocks of the older Nicola Group, the region has been
subject to the same Nicola Arc intrusive episodes with potential for epithermal mineralization of the SBGB.
Previous exploration on and around the properties has included geological mapping, rock and soil
sampling and ground geophysics producing significant results of soil samples over 100ppm Cu and VLF
conductors thought to simply represent lithological contacts, however no drilling has ever been
undertaken to test these targets in the subsurface.
The Tulameen MINFILE Cu-Au porphyry showing occurs in the middle of the Gossan property and a
pyropjyllite quarry on the northern border is also of interest for intrusive related mineralization potential.
Bimodal volcanism (felsic and mafic sourced flows within the same sequence of rocks) observed from
detailed mapping of the region from the British Columbia Geological Survey Southern Nicola Arc Project
(“SNAP”) in 2014 lends credibility to the potential for VMS style mineralization, especially with the
discovery of a previously unrecognized exhalative unit exhibiting Cu mineralization. Olistostromal units
and breccias within the volcanic sequence may represent vents collapse episodes that provide further
evidence in support of possible mineralizing volcanogenic processes.
The geological mapping and age dating on SBS property aren’t as recent and detailed as Gossan, however
the same types of rock units of the Nicola group are observed here so there is also the possibility of an
exhalative unit occurring at SBS that has not been previously recognized by more detailed mapping. A
faulted off section of granodiorite intrusive of a similar age and type as the host rocks at Copper Mountain
occupies the southern central part of the property and provides potential for porphyry copper, gold and
moly mineralization at SBS as well. Several MINFILE showings of copper, gold and silver bearing veins,
breccias and skarns surround the SBS property, including Gold Hill and Banbury porphyry just to the
northeast that are spatially related to a small outcrop of granodiorite intrusion.
The aims of an initial field exploration program will be to first locate the MINFILE and SNAP mapping
locations on the ground and confirm the observations and results along with generally prospecting the
property areas. This reconnaissance work will help assess the feasibility of future ground surveys planned
to specifically target intrusive related and volcanogenic styles of mineralization. Unmanned airborne
vehicle (“UAV”) geophysical surveys may prove to be a more cost efficient and less environmentally
disruptive method if the terrain allows for it. Concurrent with the reconnaissance field work, stakeholder
consultation will be initiated to facilitate the permitting process to allow for more intensive follow up
exploration programs in the near future.
Termination of Agreement to Acquire the RDR Project, Quebec, Canada
After assessing the results of its most recent exploration work on the RDR Project, Skarb reports that it
has now terminated its option to acquire the project. Skarb intends to focus on exploration of the Gossan
and SBS properties in B.C. for gold mineralization whilst continuing to seek to add to its portfolio of
prospective exploration projects across Canada.
About Skarb Exploration
Skarb Exploration is a gold and base metals exploration company with a focus on gold and base metal
prospects in B.C., Canada. The Company is exploring the Gossan and SBS properties in B.C. for gold
mineralization whilst adding to its portfolio of prospective exploration projects across Canada. Skarb
Exploration is led by a Board and Management team with a track record of success in exploration,
development and operations of mining projects globally.
Craig Parry
Chief Executive Officer
Skarb Exploration Corp.
+1 778 379 3211
Investor Relations
Jen Hanson
+1 778 899 3050
www.skarbexploration.ca
The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this press release.
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responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities
legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the
activities, events or developments that the Company expects or anticipates will or may occur in the future,
including, without limitation, planned exploration activities. Generally, but not always, forward-looking
information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative
connotation thereof or variations of such words and phrases or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among
others, that the results of planned exploration activities are as anticipated, the price of commodities, the
anticipated cost of planned exploration activities, that general business and economic conditions will not
change in a material adverse manner, that financing will be available if and when needed and on reasonable
terms, and that third party contractors, equipment and supplies and governmental and other approvals
required to conduct the Company’s planned exploration activities will be available on reasonable terms and in
a timely manner. Although the assumptions made by the Company in providing forward-looking information or
making forward-looking statements are considered reasonable by management at the time, there can be no
assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and
other factors, which may cause actual events or results in future periods to differ materially from any projections
of future events or results expressed or implied by such forward-looking information or statements, including,
among others: negative operating cash flow and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, the limited operating history of the Company, the influence
of a large shareholder, aboriginal title and consultation issues, reliance on key management and other
personnel, actual results of exploration activities being different than anticipated, changes in exploration
programs based upon results, availability of third party contractors, availability of equipment and supplies,
failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and
other risks associated with the mineral ex ploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in the forward-looking information or implied by forward-looking information,
there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking information and statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should
not place undue reliance on forward -looking statements or information. The Company undertakes no
obligation to update or reissue forward-looking information as a result of new information or events except as
required by applicable securities laws.