SKRR Announces Completion of Drilling at Olson: All Ten Holes Testing Four Target Areas Intersected Sulphide and Quartz Veining Mineralization
SKRR Announces Completion of Drilling at
Olson: All Ten Holes Testing Four Target
Areas Intersected Sulphide and Quartz Veining
Mineralization
VANCOUVER, BC
,
March 9, 2022
/CNW/ -
SKRR Exploration Inc.
(TSXV: SKRR) (OTC: SKKRF)
(FSE: B04Q) ("
SKRR
" or the "
Company
") is pleased to report a current update on intersections of
arsenopyrite-bearing sulphides, along with disseminated arsenopyrite and quartz veining, in the now
completed drill program at the flagship
Olson Gold
property in the Trans-Hudson corridor in
Saskatchewan
, with assay results pending.
Sherman Dahl
, Chief Executive Officer of SKRR comments:
"
The visual indications of mineralization for which assays are pending are encouraging. It
is important to note the continuation of mineralization and the indications that this second
drill program at Olson points to an expansion of the known gold zones at Olson. In addition,
SKRR exploration will be reviewing exploration possibilities for both its Father Lake Nickel
property and the highly prospective Watts Lake Zinc-Silver property. The interest in battery
metals and the overall supply shortages highlight the potential upside of not only SKRR
gold properties, but also the nickel and zinc assets under SKRR control."
Watts Lake Zinc property highlights:
World-class jurisdiction:
Saskatchewan
is consistently ranked globally as one of top mining
investment jurisdictions.
Large land package in a favourable geological setting: Watts Lake is a large contiguous land
package consisting of 13,708 hectares in the established, deposit endowed
La Ronge
domain,
of
Saskatchewan
. The project is strategically located near important infrastructure, including
within 20 km of major provincial highway network.
Historic Borys Lake lead-zinc zones: The Borys Lake corridor is anchored by the shallow depth
historic Borys Lake lead-zinc deposit, including all four known drill hole delineated zones: Mac,
Main, Will A/Will B and Sam zones. The Main zone was interpreted to have an approximate
strike length of 975 metres and widths varying from 5.3 to
19.5 m
with the zinc to lead ratio
being approximately 10:1. Mineralization is open along strike and at depth.
Strong blue-sky potential: Watts Lake project area covers multiple, parallel basement
conductive corridors, identified by a 2008 airborne versatile time-domain electromagnetic
(VTEM) geophysical survey, including the entire approximately 14 km long Borys Lake
conductive corridor, as well as significant portions of parallel corridors. The conductive corridors
have numerous drill intersections and surface identified mineralized occurrences of zinc, copper
and silver as well as anomalous gold, nickel and cobalt.
The Father Lake nickel property details:
The Father Lake property is located 40 km northeast of the hamlet of
Stony Rapids
in the province
of
Saskatchewan
.
Stony Rapids
is a full-service community with a commercial airport. Access to the
property is through fixed wing or helicopter aircraft. From a regional perspective, the property lies
along the Snowbird tectonic zone (SBTZ), which is a 2,800-kilometre-long Archean-age crustal-scale
structural break. Locally, the property is situated immediately south of the Grease River fault.
Geologically, the area is underlain by metasedimentary rocks which are intruded by a three-
kilometre-long norite sill trending 65 degrees to 80 degrees that varies in thickness from
215 m
to
800 m
.
The nine contiguous mineral claims that comprise the Father Lake property cover approximately 12
km of prospective geologic trend, including the three-kilometre-long norite sill that is host to the
historic Dumas A, B, C and D nickel-copper sulphide showings, as well as additional identified
airborne electromagnetic (EM) geophysics anomalies along trend to the northeast that show TAU
decay signatures similar to that at the Dumas showings. Zone C is the westernmost zone, while
zones A/ B are the easternmost and located approximately three km to the east and interpreted to
be the fault offset continuation of zones C and D. Zone D is situated halfway between zone C and
zones A/B. The area has been the subject of historic exploration work dating back to 1956 by Father
Lake Mining Co. with the discovery of Dumas zones A, B, C and D and drilling of 18 holes. An
additional 11 drill holes were completed in 1969 by Pathfinder Resources Ltd. and more recently in
2007 to 2008, Strongbow Exploration conducted airborne geophysics surveys (MegaTEM and
VTEM platforms) and drilled five holes to test geophysics targets that appeared to be associated
with the showings, as well as targets away from the showings.
SKRR cautions that some of the historical results were collected and reported by past operators
and have not been verified nor confirmed by a qualified person but form a basis for future work on
both the Watts Lake and Father Lake properties.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by
Ross McElroy P.Geol
, a director of the Company and a "Qualified Person" as defined
in National Instrument 43-101 –
Standards of Disclosure
for Mineral Projects
.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious metal explorer with properties in
Saskatchewan
- one 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 precious 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
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 that address the Olson
property drill program and the expected outcomes and results, the receipt of assays from the Olson
drill program, other statements relating to the technical, financial and business prospects of the
Company, its projects 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, the interpretation of technical and
scientific data, risks related to the inherent uncertainty of exploration and development and cost
estimates and the potential for unexpected costs and expenses and including those filed under the
Company's profile on SEDAR at
www.sedar.com
. 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, adverse weather or climate conditions, decrease in the price of gold and other
metals, equipment failures or failure to obtain the necessary equipment, failure to maintain all
necessary government permits, approvals and authorizations, the impact of Covid-19 or other
viruses and diseases on the Company's ability to operate, failure to 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 03:00e 09-MAR-22