Hit Radioactivity and Prospective Structures at Clearwater West
SKRR Exploration Inc. and F4 Uranium Corp.
Hit Radioactivity and Prospective Structures at
Clearwater West
VANCOUVER, BC
,
Sept. 24, 2024
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("
SKRR
" or the "
Company
") is pleased to announce that, further to its
July 22, 2024
news
release, the summer drilling program on the Clearwater West property has intersected
anomalous
radioactivity over a
4.0m
interval with a maximum of 410 cps
in drill hole CWW24-009. The drill
program targeted airborne and ground conductors and has concluded, with 6 drill holes totaling
1,317.8m
completed. Drill hole CWW24-009 which tested a previously undrilled conductor
intersected
multiple graphitic and sulphide rich shear zones
, as well as the anomalous
radioactivity.
Ray Ashley
, CEO of F4 Uranium, commented:
"We are very encouraged by the results of the first drill program since the signing of the
Option Agreement between SKRR and F4 on Clearwater West. Drill hole CWW24-009 of
the 2024 summer drill program has intersected anomalous radioactivity associated with
graphitic and sulphide rich shear zones on a previously undrilled conductor. This shows
that the geophysical surveys are leading us to the kinds of geological features that we are
looking for as they are often associated with basement hosted and structurally controlled
uranium mineralization. Additional ground geophysics is being planned at Clearwater West
to guide future follow up drilling."
Drillholes CWW24-006 and CWW24-007 both tested strong conductance flanked by a resistivity low
and ultimately intersected intensely brecciated and strongly graphitic and sulphide rich brecciated
fault zone (see Photo 1). CWW24-007 was drilled on the same section line, and up-dip of CWW24-
006. Follow-up drilling along strike towards the northeast is proposed for winter drilling. CWW24-
009, drilled on the "6C" EM conductor does not currently have ground resistivity coverage, and
considering these encouraging results, expanding the existing ground geophysics coverage to the
northeast is warranted.
Basement hosted and structurally controlled uranium deposits are often characterized by their
association with graphitic and frequently sulphide rich shear zones; these shears in turn present as
EM conductors, which are then targeted for drilling. Resistivity surveys are often used as a proxy for
alteration, as well as structures; resistivity "lows", in conjunction with conductors represent a typical
drill target for uranium exploration.
Summer 2024 Exploration Highlights
CWW24-006: Conductor and Resistivity Target
7.4m
shear zone
from
112.6m
to 120.0
Fault breccia consisting of graphite and extreme sulphide mineralization in breccia matrix
CWW24-007: Conductor and Resistivity Target
5.2m
shear zone
from
80.5m
to
85.7m
Fault breccia consisting of graphite and extreme sulphide mineralization in breccia matrix
CWW24-009: Conductor Target
3.6m
shear zone
from
136.1m
to
139.7m
Graphitic with moderate sulfide mineralization
0.5m
anomalous radioactivity
from
145.0m
to
145.5m
with a peak of 310 cps, and
1.0m
anomalous radioactivity
from
152.0m
to
153.0m
with a peak of 410 cps, and
4.0m
interval with
anomalous radioactivity
from
158.5m
to
162.5m
with a peak of 410 cps
5.6m
shear zone
from
200.4m
to
206.0m
Graphitic with strong sulfide mineralization
5.8m
shear zone
from
250.0m
to
255.8m
Graphitic with moderate to strong sulfide mineralization
Table 1. Drill Hole Summary and Handheld Spectrometer Results (CNW Group/SKRR Exploration
Inc.)
Handheld spectrometer composite parameters: 1: Minimum Thickness of 0.5m 2: CPS Cut-Off of
300 counts per second 3: Maximum Internal Dilution of 2.0m (CNW Group/SKRR Exploration Inc.)
Handheld spectrometer composite parameters:
1: Minimum Thickness of
0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of
2.0m
Photo 1: Drill hole CWW24-006 Conductor Intercept (CNW Group/SKRR Exploration Inc.)
Methodology and Quality Assurance/Quality Control
Natural gamma radiation in the drill core that is reported in this news release was measured in
counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company
considers greater than 300 cps on the handheld spectrometer as anomalous. The reader is
cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the
rock sample measured and should be used only as a preliminary indication of the presence of
radioactive materials. Samples from the drill core are split into half sections on site. Where possible,
samples are standardized at
0.5m
down-hole intervals. One-half of the split sample is sent to SRC
Geoanalytical Laboratories which is independent of the Company and the QP (an SCC ISO/IEC
17025: 2005 Accredited Facility) in
Saskatoon, SK
while the other half remains on site for reference.
Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold
analysis by ICP-OES and/or AAS. All depth measurements reported are down-hole and true
thickness are yet to be determined. The Company and F4 follow industry standard procedures for
the work carried out on the Clearwater West property, with a quality assurance/quality control
("QA/QC") program. The Company detected no significant QA/QC issues during review of the data.
Property Option Agreement
SKRR has an option to acquire up to a 70% interest in the Clearwater West Property (see SKRR
news releases dated
May 26, 2023
and
January 10, 2024
, and F3 Uranium Corp. (TSXV: FUU)
(OTCQB: FUUFF) ("F3") news release dated
May 26, 2023
) by making cash payments and issuing
shares to F4 Uranium Corp. ("F4") and funding exploration work, with F4 serving as the operator
during the earn-in period. See F3 news releases dated
June 10, 2024
and
August 16, 2024
regarding its recently completed plan of arrangement resulting in the transfer of the Clearwater West
Property, and certain other of its exploration projects, to F4.
Clearwater West is an early-stage exploration project prospective for uranium mineralization. The
uranium mineralization model for the Clearwater West property is basement hosted and structurally
controlled
Athabasca
Basin unconformity related deposits.
Summary of the Clearwater West Property:
The Clearwater West Project is located ~20 km outside the edge and in the south-west area of the
Athabasca
Basin, which is poised to become the next area for the development of major uranium
mines in
Saskatchewan
. It is 13 km south of Fission Uranium's Triple R deposit, located 7 km
outside the basin edge on its PLS Property, where a Feasibility Study was recently completed, and
17 km south of NexGen's Arrow deposit. The Clearwater West property is comprised of 3
contiguous mineral claims totaling 11,786 hectares which are immediately south and adjacent to
Fission Uranium's PLS property.
Basement hosted
Athabasca
unconformity related deposits often feature unique characteristics that
can be identified by various geophysical surveys. A VTEM survey flown over the property in early
2014 defined electromagnetic (EM) conductors, some of which are interpreted to be possible
extensions of the EM conductors identified on the PLS property immediately to the north.
F4's experienced and successful management and technical team, with a track record of three major
high-grade uranium discoveries in the
Athabasca
Basin region since 2010 (Waterbury Lake project J
Zone, PLS Triple R deposit and most recently the PLN JR Zone) will operate and manage
Clearwater West. F4 currently holds a 100% interest in Clearwater West.
Qualified Person:
The scientific and technical contents of this news release have been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43-101 and have been reviewed
and approved by
Michelle McKeough
, M.Sc., P.Geo., President of Terralogic Exploration Inc., a
Qualified Person. Ms. McKeough has verified the data, which included a review of the sampling,
analytical and test methods underlying the data, information and opinions disclosed herein. The
information provides an indication of the exploration potential of the Clearwater West Project but
may not be representative of expected results.
About F4 Uranium Corp.
F4 is a uranium project generator and exploration company, focusing on projects in the
Athabasca
Basin, home to some of the world's largest high grade uranium discoveries. F4 Uranium currently
has 17 projects in the
Athabasca
Basin, several of which are near large uranium discoveries
including Triple R, Arrow and Hurricane. F4 has entered into option agreements on several of the
properties which call for the incoming parties to make cash payments and issue shares to F4 as well
as to incur exploration expenditures on the properties in which they have been granted the option to
earn an interest.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base metal explorer with properties in
Saskatchewan
–
some of the world's highest ranked mining jurisdictions. The primary exploration focus is on the
Trans-Hudson Corridor in
Saskatchewan
in search of world class uranium, precious, and base metal
deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been
significantly under-explored in
Saskatchewan
. SKRR is committed to all stakeholders including
shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl
President & CEO
Tel: 250-558-8340
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Information
This news release contains "forward–looking information or statements" within the meaning of
applicable securities laws, which may include, without limitation, statements relating to the results of
the drill program at the Clearwater West project, potential additional drilling at the Clearwater West
project, statements relating to the technical, financial and business prospects of the Company, its
projects, its goals and other matters. All statements in this news release, other than statements of
historical facts, that address events or developments that the Company expects to occur, are
forward-looking statements. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ materially from those in the forward-
looking statements. Such statements and information are based on numerous assumptions regarding
present and future business strategies and the environment in which the Company will operate in the
future, including the price of metals, the ability to achieve its goals, the ability to secure equipment
and personnel to carry out work programs, 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. Such forward-looking information reflects the Company's views with respect to
future events and is subject to risks, uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration results, risks related to the inherent
uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses
and those other risks filed under the Company's profile on SEDAR+ at
www.sedarplus.ca
. There is
a possibility that future exploration, development or mining results will not be consistent with the
Company's expectations. Factors that could cause actual results to differ materially from those in
forward looking statements include, but are not limited to, continued availability of capital and
financing and general economic, market or business conditions, failure to secure personnel and
equipment for work programs, adverse weather and climate conditions, failure to obtain or maintain
all necessary government permits, approvals and authorizations, decrease in the price of gold,
copper, uranium and other metals, failure to obtain or maintain community acceptance (including
First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual
obligations. The Company does not undertake to update forward–looking statements or forward–
looking information, except as required by law.
SOURCE
SKRR Exploration Inc.
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For further information:
Sherman Dahl, President & CEO, Tel: 250-558-8340
CO: SKRR Exploration Inc.
CNW 05:00e 24-SEP-24