SKRR Exploration Completes Drilling at Olson Gold Project, Saskatchewan
SKRR Exploration Completes Drilling at Olson
Gold Project, Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2020) -
SKRR Exploration Inc.
(
TSXV: SKRR) (OTC PINK: SKKRF) (FSE: B04Q
) ("
SKRR
" or the "
Company
") is pleased to
announce that it successfully completed an 18 hole, 2,986m drill program on the Olson property (the
"
Property
"). The Olson property area covers 5038 ha located within the
Trans Hudson Corridor
100
km east of La Ronge, Saskatchewan and 80km south of SSR Mining's Seabee Gold Operation. Results
from recent drilling activity will be released once they have been received, compiled and interpreted.
Under the terms of the option agreement with Eagle Plains Resources Ltd. ("
Eagle Plains
"), SKRR may
earn-in up to a 75% interest in the Property.
Sherman Dahl, CEO of SKRR, commented:
We are very pleased to complete SKRR's inaugural drill campaign where the original plan was
expanded to 18 holes due to favorable early results.
We look forward to following up on this
summer's exploration success with an expanded winter drill program."
Seven separate target areas were tested throughout the course of the 2020 program, including the Jena,
Juba, Point, Tuscan, Siskin, Olson and Michael Zones.
The four week program was supervised by Terralogic Exploration Services of Cranbrook, B.C. and
relied extensively on support services and personnel from the town of Deschambault Lake, SK.
Management of Eagle Plains and SKRR would like to extend their thanks to the Peter Ballantyne Cree
Nation ("
PBCN
") for their open communication and input and would like to recognize the Saskatchewan
Ministry of Environment and its various agencies and contractors for their efforts in keeping this project
moving amidst the challenges that COVID-19 has presented.
A variety of core photos are now available at
www.skrr.ca
.
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2020 Field Program
The 2020 Olson field program that preceded drilling activity was completed during the summer of 2020
and was designed to define targets for follow-up diamond drilling. Discovery International Geophysics
completed 13 lines (8.6 line kilometers total) of combined IP/ DC Resistivity over the Point, Tuscan and
Juba areas. This was followed by a 13-day geological field program carried out by TerraLogic
Exploration Services. Soil sampling, prospecting, field mapping, and channel sampling were undertaken
to delineate new areas of gold mineralization as well as advance known showings to identify and
prioritize drill targets.
A 2,986m drill program was conducted October 2, 2020 to October 27, 2020.
A total of 18 holes were
completed to their target depths on seven separate target areas: Jena, Juba, Point, Tuscan, Siskin,
Olson and Michael.
Samples from all eighteen (18) drill holes have been delivered to the laboratory and
assay results are pending.
Mineralized widths are along drill core axis and are not necessarily
representative of true thickness.
True thickness is yet to be determined.
The reporting of results of visual
observations of the first seven holes were summarized in a news release on October 14, 2020.
Table 1: Drill Hole Summary
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Jena/Juba
- Twenty surface samples from outcrops taken earlier this summer returned values >1000
ppb Au, with a maximum of 15.7 g/t Au from quartz arsenopyrite veins (see News Release June 02,
2020). Two holes tested beneath the Juba arsenopyrite-bearing trenches.
Three holes tested the south
Jena area to test a significant IP chargeability anomaly with coincident with the northwest dipping contact
between a feldspar porphyry to the east and meta-sediments to the west.
Point
- Three angle drill holes tested the Point target where earlier field work this summer identified
anomalous soil geochemistry (80 ppb to 2704.6 ppb Au) and prospecting returned assays up to 9.8 g/t
Au.
All three holes were collared in granodiorite and were designed to test for mineralization associated
with an interpreted meta-sedimentary contact projected to be encountered around ~230m depth (see
News Release October 14, 2020).
Tuscan
- Field work from the earlier summer program included prospecting at Tuscan, where assay
results returned peaks up to 45.1 g/t Au. Two angle holes at Tuscan were designed to test the east west
intrusive contacts observed at the Tuscan surface showing.
Siskin
- Historical drilling at the Siskin intercepted wide zones of low-grade discontinuous Au
mineralization (SMDI #2219f; DDH S-84-1: 26.22m @ 0.38g/t Au).
Some of the above results and
information were taken directly from the SMDI descriptions and assessment reports filed with the
Saskatchewan government. SKRR 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 in the Olson property area.
Detailed mapping and structural interpretation in the Siskin area in 2020 identified a previously un-
reported structure that may control the orientation of higher grade ore shoots within both the Siskin
structural corridor and in other parts of the property. Five holes were drilled at Siskin targeted to intersect
the down-plunge extensions of the surface mineralization.
All five holes intersected mineralization at
Siskin and all holes seem to endorse the relationship between east dipping quartz-carbonate veinlets
and mineralization (particularly arsenopyrite) at depth and along strike.
Drill holes OL20009, OL20010 and OL20011 were drilled on a fence to test the Siskin mineralization
system at depth, where significant grab samples at surface returned assays of 12.069 g/t Au and 9.909
g/t Au. All 3 holes encountered multiple intervals of mineralization from 0.3m wide to several meters wide
of generally narrow quartz-carbonate veinlets and 2 - 5% arsenopyrite and 1-3% pyrite, with occasional
occurrences of chalcopyrite.
OL20012 was a 75m step-back to the east of the fence of holes OL2009 to
OL20011.
The hole encountered mineralized intervals up to 13.87m wide (108,2m - 122.53m), but not as
strong as seen in the previous fence of holes. OL20013 was collared a further 50m north to test
mineralization along strike.
As with the other 4 holes, OL20013 encountered multiple zones of
mineralization from 0.31 cm up to 14.32m (110.34m to 124.66m) consisting of 1-5% arsenopyrite, and
1-2% pyrite associated with narrow quartz-carbonate veinlets.
Olson
- Two holes were designed to test for mineralization as seen at the historic Olson "Point" surface
trenches where grab samples returned assays up to 15.19 g/t Au.
Field observations indicate a linear
ENE plunging control on mineralization. OL20016 encountered weak mineralization in several narrow
zones less than 1m wide and with up to 1% arsenopyrite and was generally hosted in metabasalts.
Mineralization appeared similar in style to that seen as Siskin and overall did not appear as prolific as
that observed in the Olson trenches. OL20017 was collared ~300m to the west of OL20016 and
encountered good mineralization from 140.82m to 150.27m with quartz veining and 2% arsenopyrite.
The results suggest some continuity along dip of mineralization to the Olson "Point" trenches.
Michael Lake -
One hole (OL20018) was designed to test the IP chargeability anomaly in Michael Lake
~1.2km to the east of OL20016.
The anomaly is interpreted to reflect a volcanic / intrusive contact.
Multiple zones of small-scale mineralization were present on the scale of 0.1m to 0.3m associated with
1-2% arsenopyrite.
Most significant was a 3.35m wide zone of mineralization with 1-2% semi-massive
patchy pyrite (up to 5% locally over 10cm intervals) in intercalated fine grained semi-pelites and fine
grained metabasalts.
Expanded Drilling at Olson Property
SKRR is also pleased to announce it will finalize additional drill sites and begin drilling on new targets on
the Property once it has received the final assays from its summer drill program.
The size of the
expanded drill program will be determined based on the pending assays and other planned drill
programs on certain of the Company's other 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
Sherman Dahl
President & CEO
Tel: 250-558-8340
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
+1 6047577179
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 planned drilling on the
Olson property and other properties, receipt of assays, 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, 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 those filed under the Company's profile on SEDAR at
www.sedar.com
. 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 conditions, decrease in the price of gold and other metals, equipment
failures, failure to maintain or obtain 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.
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