SKRR Exploration Inc Continues to Intersect Widespread Gold Mineralization at the Olson Gold Project, Saskatchewan
SKRR Exploration Inc Continues to Intersect
Widespread Gold Mineralization at the Olson
Gold Project, Saskatchewan
VANCOUVER, BC
,
May 3, 2022
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (OTC: SKKRF)
(FSE: B04Q) ("
SKRR
" or the "
Company
") is pleased to announce that is has received results from
the 10-hole,
1867m
(6125') drill program recently completed on the
Olson
property (the
"
Property
"). The Property area covers 11,219 ha located within the
Trans Hudson Corridor
20km
northwest of
Deschambault Lake, Saskatchewan
and 80km south of SSR Mining's Seabee Gold
Operation.
The 2022 program was designed to follow up on results from SKRR's 18-hole,
2,981m
(9780') drill
program completed in Fall 2020 and the 12-hole,
1674m
(5492') diamond drill program completed in
Winter 2021. Both programs were successful in intersecting significant gold mineralization, 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
, and
May 6, 2021
).
Winter Program Drilling Highlights:
Winter 2022 program continued to demonstrate the potential for broad mineralized zones at
Michael's Lake. New discoveries include:
OL22009:
50.35 m
@ 0.56 g/t Au (85.00-
135.35m
)
Drill results at the Olson Zone continue to be encouraging: step-out holes show 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
)
Drilling at Ackbar Lake focused on extending gold mineralization first discovered in 2021. 2022
drilling 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
)
OL22008 confirmed continuity of mineralization over >
100m
. This mineralization was first
discovered in drill hole OL21029, returning 0.75g/t Au over
8.12m
, including 2.39g/t Au over
1.4m
;
9 of 10 holes completed during the recent program intersected significant gold mineralization
See Olson
property map here:
https://skrr.ca/projects/olson/
Select Drill Results Table:
Hole
From (m)
To (m)
Core Interval (m)
Au (g/t)
Zone
OL22001
47.00
48.00
1.00
1.20
OL22002
17.63
18.38
0.75
2.34
and
81.60
83.70
2.10
3.20
including
81.60
82.64
1.04
5.22
Olson
OL22003
47.73
55.80
8.07
1.62
including
50.00
54.30
4.30
2.78
including
51.11
52.00
0.89
5.64
and
66.14
67.15
1.01
1.01
and
72.50
73.25
0.75
1.69
OL22004
125.32
126.74
1.42
1.43
and
134.00
135.00
1.00
1.33
OL22005
23.33
37.90
14.57
0.50
including
32.45
33.50
1.05
1.27
and
74.41
76.10
1.69
0.89
including
75.10
76.10
1.00
1.05
OL22006
74.70
76.77
2.07
2.44
and
88.50
89.50
1.00
1.37
and
100.23
105.90
5.67
0.81
including
102.72
103.98
1.26
1.72
OL22007
32.42
33.80
1.38
2.00
Ackbar
and
51.35
52.50
1.15
1.01
and
130.60
137.50
6.90
0.43
including
136.92
137.50
0.58
1.01
228.10
229.00
0.90
1.42
OL22008
62.00
68.75
6.75
0.95
including
62.00
65.72
3.72
1.25
including
63.48
64.50
1.02
1.97
OL22009
85.00
135.35
50.35
0.56
Michael's Lake
including
131.00
134.10
3.10
1.48
OL22010
no significant intercepts
Carina
* All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.
See Olson
maps and drill collar locations:
https://skrr.ca/wp-content/uploads/2022/05/2022_05.02_DDHPlan_NR.pdf
Drillholes OL22001 – 006 were completed at the Olson Zone and were designed to test mineralized
shear-veins hosted in strained metavolcanic rocks. Results from 2022 show that mineralization
reported in historic holes have strike and dip direction continuity and remains open in all directions.
Hole OL22003 returned
8.10 m
of 1.62 g/t Au including
0.84m
of 5.64 g/t Au. Hole OL22006
returned 2.44 g/t Au over
2.07 m
.
Drillholes OL22007 – 008 were completed at Ackbar Lake and tested mineralized shear/vein
systems hosted in granodiorite-diorite of the Brownell Lake Pluton. Mineralization in this zone was
first discovered during the 2021 program in hole OL21029. OL22008 returned 0.95 g/t Au over
6.75
m
including 1.97 g/t over
1.02m
.
OL22009 tested a geophysical chargeability anomaly at the Michael's Lake Zone that was first
intersected in OL20018 and OL21024. OL22009 was designed as a
120 m
step-out from OL21024
and successfully intersected mineralized hosted at the contact between the Brownell Lake Pluton
and surround country rock. Assays show a broad, low-grade Au mineralization associated with the
contact, returning
50.35m
of 0.56 g/t Au including
3.10 m
of 1.48 g/t Au.
Drillholes OL22010 tested the western extension of Au mineralization reported in historic drilling at
the Carina Zone. The hole intersected semi-massive arsenopyrite hosted in a
1.0 m
thick quartz vein.
Assays did not return economically significant Au concentrations.
Tim Termuende
, P.Geo., President and CEO of Eagle Plains Resources Ltd. commented recently
on the results: "
We continue to be
encouraged by results to date at the Olson Project. The
presence of consistent high grade gold mineralization identified at the Olson Zone and low-grade,
bulk-tonnage gold mineralization discovered at the Point, Ackbar and Michael Lake Zones
confirms the overall potential of the Olson Project and the widespread presence of gold
mineralization on the property."
Ross McElroy
, Chairman and Chief Geologist of SKRR Exploration 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. Hole OL22009 at Michael Lake, with a
50m
wide mineralized interval is an excellent
example of the large and robust scale of gold mineralization at Olson."
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. The property is host to 29
mineral occurrences defined by historical geological mapping, prospecting, trenching and
4700m
of
diamond drilling, with the last drilling by third party operators reported in 2008. Historical drilling at
Olson Lake intersected
7.5 m
grading 2.07 g/t Au including 13.00 g/t Au over
0.65 m
, and grab
samples of up to 105.52 g/t Au have been collected at the Kalix occurrence. 2018-2019 fieldwork
completed by Eagle Plains and a previous partner consisted of a detailed compilation of historical
data, geological mapping, soil geochemical work and prospecting. Fall 2020 drill program by SKRR
at the
Olson
Zone 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 showing and wide intercepts of near surface mineralization at the
Siskin
Zone. Follow-up drilling in 2021 extended known mineralization at historical occurrences and resulted
in a new gold discovery at the previously undrilled
Ackbar
Zone. The Olson project is considered to
be significantly underexplored, with many known gold occurrences open at depth and along strike.
Some results are historical in nature and have not been confirmed by Eagle Plains or SKRR but
are considered to be reliable and will form a basis for ongoing work.
Under the terms of the option
agreement with Eagle Plains Resources Ltd., SKRR may earn-in up to a 75% interest in the Olson
Property.
QA/QC:
Geological and geotechnical logging and core sampling were completed at a facility on the Olson
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
for the following analyses:
48 element four-acid ICP-MS (ME-MS61) and gold (Au) 50 g Fire Assay – AA finish (Au-AA25).
Samples that returned over 1ppm Au by Au-AA24 were re-analysed using gold (Au) 50g Fire Assay
– Gravimetric finish (Au-GRA22). ALS Global is an accredited geoanalytical laboratory and is
independent of SKRR and the 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 ("CRM's") and blanks that were inserted into each sample batch
in order to verify the analytical from the lab. The CRM's 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.
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
. Mr. McElroy verified
the data disclosed (unless indicated otherwise) 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 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 that address the
potential of the Olson Property, and 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
or intends 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 precious and base 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 03-MAY-22