SKRR Exploration Inc. Continues to Intersect Significant Gold Mineralization at the Olson Gold Project, Saskatchewan
SKRR Exploration Inc. Continues to Intersect
Significant Gold Mineralization at the Olson
Gold Project, Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2021) - SKRR Exploration Inc. (
TSXV: SKRR)
(OTC: SKKRF) (FSE: B04Q
) ("
SKRR
" or the "
Company
") has
received results from the 12 hole,
1674m (5,492' feet) drill program recently completed on the Olson property (the "
Property
"). The
Property area covers 5,038 ha located within the
Trans Hudson Corridor
100 km east of La Ronge,
Saskatchewan and 80km south of SSR Mining's Seabee Gold Operation. 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, Chief Executive Officer of SKRR comments:
"Our Olson drilling was ambitiously designed to test the size potential of the Olson gold system.
It was
successful on all fronts.
The presence of consistent high grade gold mineralization identified at the
Olson project confirms the overall potential of growing into a significant resource. The Olson Project
continues to yield exceptionally consistent gold results as we drill to define mineralization in the area."
The drill current program was designed to follow up results from a 2,981m
drill program completed on
the property in fall 2020, where 13 of the 18 of the drillholes intersected significant gold mineralization
including new discoveries at the previously undrilled
Point
,
Jena
and
Michael's Lake
Zones, high
grade mineralization in a step out hole at the historic
Olson Zone
showing and wide intercepts of near
surface mineralization at the
Siskin
Zone (see news releases dated February 4, 2021 and March 25,
2021).
The current program continued to demonstrate the near surface large size potential of the Point Zone
with significant widths of mineralization.
The Point Zone shows good continuity in width and often with
narrow higher-grade intervals.
New drilling highlights include:
OL21019:
50.24m @ 0.41 g/t Au
(3.23m - 53.47m), including:
6.25m @ 1.15 g/t Au
(35.75m - 42.00m)
OL21020:
39.5m @ 0.37 g/t Au
(2.66m - 42.16m), including:
12.61m @ 0.60 g/t Au
(20.00m - 32.61m)
OL21023:
7.04m @ 0.43g/t Au
(36.46m - 43.50m), and
9.02m @ 1.16 g/t Au
(67.53m - 76.55m), including:
4.55m @ 1.59 g/t Au
(72.00m - 76.55m)
Drill results at the Olson Zone continue to show encouragement and demonstrate well developed
thickness with higher grade intervals.
The Olson Zone is open in all directions.
Significant intersections
include:
OL21025:
13.1m @ 0.89 g/t Au
(32.22m - 45.32m), and:
8.41m @ 0.72 g/t Au
(122.47m - 130.88m)
OL21026:
11.04m @ 0.61 g/t Au
(48.63m - 59.67m) and:
29.44m @ 1.30 g/t Au
(105.04m - 134.48m), including:
10.21m @ 2.95 g/t Au
(120.11m - 130.32m), including:
5.54m @ 4.12 g/t Au
(121.69m - 127.23m), including:
0.78m @ 14.55 g/t Au
(126.45m - 127.23m)
Other Winter Program Drilling Highlights:
9 of 12 holes completed intersected significant mineralization.
New Gold Discovery:
First hole completed at Ackbar Lake, drill hole OL21029, returned 0.75g/t
over 8.12m, including 2.39g/t over 1.4m.
Mineralized Core:
92 of the 717 core samples collected returned greater than 0.5 g/t Au, with 38
samples greater than 1 g/t Au.
Image is of the Olson Regional Map
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6952/83141_f733382614b13829_002full.jpg
Winter, 2021 Drill Results
SKRR completed 12 holes (1674m, 5,492' feet) of diamond drilling that tested the Point (6 holes), Olson
(4 holes), Michael's Lake and Ackbar
(1 hole each) Zones, all located in the central part of the Property.
One hole was abandoned due to rapidly deteriorating ice conditions.
Images is of Olson Zone Drill Results Map
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6952/83141_f733382614b13829_003full.jpg
Analytical results ranged from trace values to broad low grade and narrow higher-grade intercepts, as
summarized below.
Select Drill Results Table:
OL21019 - 031 Significant Intervals
Hole
From
To
Core
Length
(m)*
Au (g/t)
Zone
OL21019
3.23
53.47
50.24
0.41
Point
Including
35.75
42.00
6.25
1.15
Including
40.46
42.00
1.54
2.85
OL21020
2.66
42.16
39.50
0.37
Including
20.00
32.61
12.61
0.60
Including
30.51
32.61
2.10
1.25
OL21021
2.50
17.00
14.50
0.42
Including
10.23
11.17
0.94
3.17
OL21022
19.55
20.55
1.00
3.02
OL21023
Upper Interval
36.46
43.50
7.04
0.43
Including
38.16
38.75
0.59
2.29
Lower Interval
67.53
76.55
9.02
1.16
Including
72.00
76.55
4.55
1.59
Including
75.29
76.55
1.26
4.10
OL21024
no significant intercepts
Michael's
Lake
OL21025
Olson
Upper Interval
32.22
45.32
13.1
0.89
Including
34.91
37.4
2.49
3.67
Lower Interval
122.47
130.88
8.41
0.72
Including
122.47
125.0
2.53
1.60
Including
123.15
124.19
1.04
2.81
OL21026
Upper Interval
48.63
59.67
11.04
0.61
Including
48.63
49.7
1.07
2.55
Lower Interval
105.04
134.48
29.44
1.30
Including
120.11
130.32
10.21
2.95
Including
121.69
127.23
5.54
4.12
Including
126.45
127.23
0.78
14.55
OL21027
abandoned
OL21028
no significant intercepts
OL21029
98
106.12
8.12
0.75
Ackbar
Including
101.75
103.2
1.4
2.39
OL21030
no significant intercepts
Olson
OL21031
127.9
143
15.15
0.39
Point
* All drill indicated intercepts as reported in this news release are measured along core length and
true thickness is yet to be determined.
For full Olson Property maps and drill collar locations:
click here
Drill holes OL21019 - 23, and OL21031 tested the shear-vein systems associated with the contact
between granodiorite and meta-sediments at the Point showing, where 2020 drilling returned 39.80m of
1.09g/t Au including 1.53m of 13.80 g/t Au in DDH OL2004.
OL21019-21, 30m step back holes from OL20004, intercepted broad zones of gold mineralization that
extend from granodiorite at surface across the contact with the metasediments. Hole OL21019
intercepted 0.41 g/t Au over 50.24m, including 1.1
5
g/t Au over 6.25m and 2.85 g/t Au over 1.54m. Hole
OL21020 intercepted 0.37 g/t Au over 39.50m, including 0.6 g/t Au over 12.61m and 1.25 g/t Au over
2.10m. Hole OL21021 intercepted 0.42 g/t Au over 14.50m, including 3.17 g/t Au over 0.94m.
OL21022, a 50m step-out south along strike from holes OL21019-21 returned a best intercept of 3.02 g/t
Au over 1.00m from 19.55-20.55m.
OL21023, a 50m step-out north along strike from holes OL21019-21 intercepted two zones of gold
mineralization. The upper interval returned 0.43 g/t Au over 7.04m, including 2.29 g/t Au over 0.59m
associated with arsenopyrite/pyrrhotite stringer veins within the Brownell Lake Pluton. Mineralization in
the lower interval was associated with a granodiorite dyke, and returned 1.16 g/t Au over 9.02m,
including 4.1 g/t Au over 1.26m.
OL21031, a 75m step-out north along strike from OL21023, returned 0.39g/t Au over 15.15m.
Drill holes OL21025 - 26, and OL21030 were drilled at the Olson Zone. Hole OL21025 was drilled as a
65m step-out to the west along strike from hole OL20017, which returned 9.64 g/t Au over 1.23m. It
intercepted two significant zones of gold mineralization. The upper interval returned 0.89 g/t Au over
13.10m, including 3.67 g/t Au over 2.49m, associated with sericite alteration in metabasalt. The lower
interval returned 0.72 g/t Au over 8.41m associated with up to 1% vein-hosted and disseminated
arsenopyrite.
Hole OL21026 was drilled to infill a 150m gap in historic drilling at the Olson showing. The hole
intercepted well developed quartz veining and silicification.
The hole returned
1.30 g/t Au over 29.44m,
including 4.12 g/t Au over 5.54m and 14.55 g/t Au over 0.78m.
Hole OL21029, the first hole ever drilled at the Ackbar Lake Zone, was designed to test a large soil
anomaly. It returned 0.75 g/t Au over 8.12m, including 2.39 g/t Au over 1.40m, with mineralization hosted
in diorite with up to 1% vein-hosted and disseminated arsenopyrite.
Methodology and QA/QC
Geological and geotechnical logging and core sampling were completed at a facility on the Property.
Assay intervals were based on visual identification of mineralization, presence and density of quartz
veins and lithological boundaries. Terralogic Exploration geologists maintained chain of custody and
sampling procedures reported in this news release according to best industry practice and with due
attention to quality assurance and quality control, including sampling field duplicates and insertion of
certified standard and blank samples.
Samples were sent for geochemical analysis with ALS Global, Vancouver, B.C. for the following
analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay - AA finish (Au-
AA23). Samples that returned over 1ppm Au by Au-AA23 were re-analysed using gold (Au) 30g Fire
Assay - Gravimetric finish (Au-GRA21).
ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited
analytical laboratory and is independent of SKRR and the qualified person (QP).
On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order
of samples were reported correctly, that the blanks ran clean, and that the results for each standard had
minimal variance from its certified value. QA/QC for the Olson Drilling Program included certified
reference material ("CRMs") and blanks that were inserted into each sample batch in order to verify the
analytical from the lab. The CRMs from all holes reported passed within 3 standard deviations and the
blanks returned acceptable values. All of the lab internal standards and duplicates were within
acceptable values.
SKRR detected no significant QA/QC issues during review of the data. SKRR is not aware of any
drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the
data referred to herein.
Update on Leland Drill Program
SKRR also reports that it received complete results from the 9 hole, 1341m (4,400' feet) 2021 winter drill
program completed on the
Leland
property (the "
Leland Property
"), located 23 kilometers southwest
of
SSR Mining's Seabee Gold Operation
, also within the Trans Hudson Corridor. The inaugural drill
program on the Leland Property drilling tested a 1 km strike length of a gold-mineralized shear system
defined by surface rock grab and trenching results, soil geochemistry and detailed airborne (drone)
magnetic survey data. All nine holes intersected either quartz veining or sulphide bearing shears and
analytical results ranged from trace values to a high of 635ppb Au over 1.5m from 47.9 - 49.4m in
LE21004.
Trenching at the Michelle-Irving and Simon areas has identified both steep conformable NW-trending
veins and a second set of shallow north-dipping veins. Preliminary conclusions from the drilling suggest
that gold distribution along the Irving-Simon trend likely has a strong ore-shoot control related to the
intersection of these steep and shallow vein sets. Future drill plans will be designed to anticipate and
intersect these shoots.
Under the terms of the option agreement with Taiga Gold Corp. ("
Taiga
"), SKRR may earn-in up to a
75% interest in the Leland Property.
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 SKRR and a "Qualified Person" as defined in National Instrument
43-101 -
Standards of Disclosure
for Mineral Projects
. Mr. McElroy 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 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.
Cautionary Statement Regarding 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 drilling on the Olson
Property, the potential and expectations of the Olson Property and the Leland Property, additional
exploration work on the Olson Property and the Leland Property, 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, equipment failures, decrease in
the price of gold and other metals, equipment failures, 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/83141