SKRR Exploration & Eagle Plains Resources Provide an Update on the Olson Gold Project
SKRR Exploration & Eagle Plains Resources
Provide an Update on the Olson Gold Project
VANCOUVER, BC
,
April 28, 2025
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("
SKRR
" or the "
Company
") is pleased to provide an update on its 75% owned Olson gold
property (the "
Olson
Project
") in partnership with Eagle Plains Resources Ltd. ("
Eagle Plains
")
(TSXV:EPL) which owns 25% of the Olson Project.
The Olson Project area covers approximately 12,951 hectares and is located within the Trans
Hudson Corridor, 20km northwest of
Deschambault Lake, Saskatchewan
and 80km south of SSR
Mining Inc.'s Seabee Gold Operation. The Olson Project has proven Au (gold) mineralization with
many under-evaluated targets, with both high-grade mineralization potential in volcanic-
metasedimentary host rocks, and lower grade bulk tonnage potential in intrusive host rocks.
Since optioning the property in 2019, SKRR has completed
6,522m
(21,937 feet) of diamond drilling
in 40 holes. Drill programs in 2020, 2021 and 2022 extending known mineralized trends at the
Olson
and
Sisken
Zones as well as defining newly discovered gold mineralization at the
Point
,
Jena
,
Ackbar
and
Michael's Lake
Zones (see SKRR's news releases dated
February 4, 2021
,
March 25,
2021
,
May 6, 2021
,
May 3, 2022
).
SKRR is evaluating all strategic options to advance the highly prospective Olson Project.
See Olson
property map here:
https://shorturl.at/oB5RZ
2020 – 2022 Drilling Highlights
Analytical results from drilling ranged from trace values to broad, high-grade intercepts, as
summarized below. All drill indicated intercepts as reported in this news release are measured along
core length and true thickness is yet to be determined.
Inaugural drilling at the
Point Zone
in 2020 returned
39.80m
@ 1.09 g/t Au
(
3.05m
to
42.85m
),
including
7.62m
@ 3.44 g/t Au
(
15.75m
to
23.37m
) and
1.53m
@ 13.80 g/t Au
(
21.84m
to
23.37m
)
from DDH OL20004 and
31.04m
@ 0.51 g/t Au
(
2.88m
to
33.92m
) from DDH OL20005. 2020
intercepts at the
Jena Zone
included DDH OL20002 which returned
1.53m
@ 13.5 g/t Au
(
125.13m
to
126.66m
). Other 2020 highlights include OL20017 which returned
1.23m
@ 9.64 g/t Au
(140.65
to
141.88m
) at the
Olson Zone.
A successful follow-up drilling program was completed in 2021. Highlight intercepts at the Point Zone
included OL21019 which returned
50.24m
@ 0.41 g/t Au
(
3.23m
–
53.47m
), including
6.25m
@
1.15 g/t Au
(
35.75m
–
42.00m
). Olson Zone drilling results included OL21026 which returned
29.44m
@ 1.30 g/t Au
(
105.04m
–
134.48m
), including
10.21m
@ 2.95 g/t Au
(
120.11m
–
130.32m
) and
0.78m
@ 14.55 g/t Au
(
126.45m
–
127.23m
). The first hole at the Ackbar Lake
target was also completed in 2021, with DDH OL21029 intersecting
8.12m
@ 0.75g/t Au
(98.0 to
106.2m
).
The most recent drill program at the Olson Project was in 2022. OL22009, which tested the
Michael's Lake Zone,
returned
50.35 m
@ 0.56 g/t Au (85.00-
135.35m
).
2022 drilling at the Olson Zone confirmed the continuity of mineralized shear veins along strike and
down-dip of previous intersections. The Olson Zone remains open in all directions. Significant
intersections include:
OL22003:
8.07 m
@ 1.62 g/t Au
(47.73-
55.80m
), including
0.89 m
@ 5.64 g/t Au
(51.11-
52.00m
)
OL22006:
2.07 m
@ 2.44 g/t Au
(74.70-
76.77m
)
2022 drilling at Ackbar Lake proved strike-length continuity of mineralization >
100m
from the
discovery hole OL21029. Significant intersections include:
OL22008:
6.75 m
@ 0.95 g/t
(62.00-
68.75m
), including
1.02 m
@ 1.97 g/t
(63.48-
64.50m
)
Other Exploration Targets
Although high priority drill targets exist at the known mineralized zones, additional historical targets
have not been evaluated by Eagle Plains and SKRR geologists. At the
M10 Showing
(SMDI 1729),
located approximately 9km west of the Olson Zone, gold mineralization is hosted in a series of
shears aligned parallel to the regional Hartley Shear Zone.
6 diamond drill holes were completed in the M10 area in 1988-89, for a total of
608m
(2094 feet),
with a maximum hole length of
124.1m
. Highlights from the drilling include:
M108802:
8.1m
@ 1.11 g/t Au (67.25 –
75.3m
) with
2.35m
@ 2.31 g/t Au (67.25 –
69.6m
)
M108803:
6.1m
@ 1.70 g/t Au (63.2 – 69.3) with
2m
@ 3.62 g/t Au (64.7 –
66.7m
)
M108902:
9.5m
@ 1.18 g/t Au (60.0 –
69.5m
)
The
Kalix showing
(SMDI 2222) is located 4.5 km SE of the Point Zone. Gold mineralization occurs
in quartz vein stockworks and shears along the contact between intrusive and metamorphic rocks.
The area has been evaluated with trenching and two short diamond drill holes. Highlights from
historical work include an
8m
channel sample which averaged 4.00 g/t Au over its length, a grab
sample which returned 214 g/t Au (Sample # 12904) and DDH 87-6 which returned 0.39g/t Au over
7.56m
from 45.09 –
52.65m
.
Some of the above results were taken directly from the SMDI descriptions and assessment reports
(SMAF) filed with the
Saskatchewan
government. Management cautions that 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 ongoing work on the subject properties. Rock grab samples are
selective samples by nature and as such are not necessarily representative of the mineralization
hosted across the property. SKRR's management cautions that past results or discoveries on
proximate land are not necessarily indicative of the results that may be achieved on the subject
properties.
Sherman Dahl
, a director and CEO of SKRR stated: "
With multiple drill confirmed target areas
displaying a diverse style of gold mineralization, the Olson property continues to impress, showing
encouraging signs of the potential to host deposit scale occurrences."
Chuck Downie
, President and CEO of Eagle Plains recently commented:
"T
he presence of wide-
spread gold occurrences throughout the property, highlighted by the success of the 2020-2022 drill
programs, underscores the significant potential of the Olson Project."
Olson Project Summary
The Olson Project area overlies regionally sheared, highly strained meta-volcanic and intrusive rocks
which are considered to be prospective for orogenic gold mineralization. It has a large mineralized
system over 20km long adjacent to regional fault structures associated with the Tabbernor fault
system and the complex geology and structural disruption patterns are conducive to extensive
episodic fluid flow.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by
Charles C. Downie
, P.Geo., a director and CEO of Eagle Plains and a "Qualified
Person" as defined in National Instrument 43-101 –
Standards of Disclosure
for Mineral Projects
.
Mr. Downie verified the data disclosed which includes a review of the sampling, analytical and test
data underlying the information and opinions contained therein.
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 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 evaluating all
strategic options to advance the Olson Project, and 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,
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, the ability
to manage working capital, failure to secure personnel and equipment for work programs, adverse
weather and climate conditions, failure to maintain or obtain all necessary government permits,
approvals and authorizations, decrease in the price of gold, copper, nickel, uranium and other
metals, failure to maintain or obtain 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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CNW 14:15e 28-APR-25