SKRR Exploration Inc. Intersects Significant Gold Mineralization at Olson Gold Project, Northern Saskatchewan
SKRR Exploration Inc. Intersects Significant
Gold Mineralization at Olson Gold Project,
Northern Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - February 4, 2021) -
SKRR Exploration Inc. (
TSXV:
SKRR) (OTC: SKKRF) (FSE: B04Q
) ("
SKRR
" or the "
Company
") has
received analytical results from
the first five (5) holes of the 18 hole, 2,981m (9,778' feet) drill program completed in Fall, 2020 on the
Olson property (the "
Olson
Property
"). The Olson 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 Olson Property.
Drill results from the previously untested Point and Jena zones show substantial widths of moderate to
high grade gold mineralization, within multiple stacked intervals with significant near-surface
mineralization intersected in two holes.
Highlights:
Point Zone
DDH OL20004
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)
including:
1.53m @ 13.80 g/t Au
(21.84m to 23.37m)
DDHOL20005
31.04m @ 0.51 g/t Au (
2.88m to 33.92m)
Jena Zone
DDH 20002
1.53m @ 13.5 g/t Au
(125.13m to 126.66m)
1.24m @ 1.14 g/t Au
(76.2m to 77.44m)
1.21m @ 2.54 g/t Au
(116.84m to 118.05m)
Sherman Dahl, Chief Executive Officer of SKRR comments:
"These very good results show the high-grade potential of the gold system at our flagship Olson
property in the Saskatchewan's Trans Hudson Corridor. All other zones at the Olson project
have encountered similar mineralization with assays pending. Follow-up drilling at the Olson
property to follow.
The team at SKRR continues to work hard advancing its' projects and has
commenced drilling at the Leland gold property in the highly prospective Laonil Intrusive
complex, which hosts SSR Mining's Seabee gold deposit.
2020 Drill Results
SKRR completed 18 holes, and 2,981m (9,778' feet) of diamond drilling during the 2020 drill program
which tested seven separate target areas including the Jena, Juba, Point, Tuscan, Siskin, Olson and
Michael Zones.
Table 1 below summarizes mineralized results from the first five holes. Analytical results
ranged from trace values to broad, high grade intercepts, as summarized below. True thicknesses of
mineralized intercepts are undetermined.
Table 1: Drill Assay Results
OL20001 - 005 Significant Intervals
Hole
From
To
Core
Length (m)
Au (g/t)
Zone
OL20001
28.19
29.72
1.53
1.37
Juba
OL20002
76.2
77.44
1.24
1.14
Jena
116.84
118.05
1.21
2.54
125.13
126.66
1.53
13.5
OL20004
Point
Upper Interval*
3.05
42.85
39.8
1.09
Including
3.05
4.57
1.52
0.55
Including*
15.75
23.37
7.62
3.44
Including
21.84
23.37
1.53
13.80
Including
35.05
36.58
1.52
1.54
Lower Interval*
128.52
131.54
3.02
3.13
Including
128.52
13.38
1.86
1.76
Including
130.38
131.54
1.16
5.32
OL20005*
2.88
33.92
31.04
0.51
Including
21.74
22.24
0.5
1.12
Including
27.25
29.5
2.25
2.19
* Drill indicated intercepts (core length) are reported as drilled widths and true thickness is
undetermined
**OL20004 3.05 - 42.85m upper cutoff 551 ppb Au; lower cutoff 967ppb Au; maximum internal dilution
25.78-26.42 m 81ppb
OL20004 15.75-23.37m
upper cutoff 1010 ppb Au; lower cutoff 13800 ppb Au; maximum internal
dilution 17.27-18.29m
303 ppb
OL20005 2.88-33.92m
upper cutoff 140 ppb Au; lower cutoff 386 ppb Au; maximum internal dilution
31.0-32.5m 47ppb
Figure 1: Olson Project OL20002 Section
To view an enhanced version of Figure 1, please visit:
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Figure 2: Olson Project OL20004 Section
To view an enhanced version of Figure 2, please visit:
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Figure 3: Olson Project OL20005 Section
To view an enhanced version of Figure 3, please visit:
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DDH OL20001, drilled under the Juba showing and coincident with an IP resistivity anomaly intersected
1.53m of 1.37g/t Au from 28.19 - 29.72m associated with a brecciated quartz vein.
DDH OL20002 was collared 400m south of OL20001 at the Jena area, targeting a 2020 soil and rock
geochemical anomaly, coincident with an IP chargeability feature. A 1.53m intercept from 125.13 -
126.66m returned 13.5 g/t Au associated with sulphide bearing sheeted quartz veins. Intervals from
76.2m to 77.44m and 116.84m to 118.05m were associated with disseminated sulphide mineralization
along intrusive contacts and returned 1.14 g/t Au and 2.54 g/t Au, respectively.
Drillholes OL20004 and OL20005 were collared from the same pad at the previously undrilled Point
showing area. The holes tested a shear/vein system along a granodiorite contact defined by rock and
soil geochemical anomalies coincident with a magnetic anomaly. DDH OL20004 (Az 280°/ Dip -45°)
intercepted several significant intervals of mineralization. The near surface upper interval averaged 1.09
g/t Au over 39.80m from 3.05m to 42.85m including 3.44 g/t Au over 7.62m and 13.80 g/t Au over
1.53m. Mineralization is typically associated with arsenopyrite and pyrite with gold grade generally
increasing near the contact between the sheared granodiorite and the surrounding metasedimentary
schists. A lower intercept from 128.52m to 131.54m returned 3.13 g/t Au over 3.02m, including 5.32 g/t
Au over 1.16m. This zone is associated with cm-scale quartz veins with disseminated sulphide
mineralization in a schistose host.
DDH OL20005 (Az 220°/ Dip -50°) also intercepted a broad mineralized interval associated with
arsenopyrite-bearing granodiorite and pelitic schists. 2.88m - 33.92 m returned 0.55 g/t Au over 31.04m.
Within this zone an interval from 27.25 - 29.5 returned 2.19 g/t Au over 2.25m.
DDH OL20003 did not return any significant results.
Olson Project Summary
Figure 4: Olson 2020 DDH Plan Map
To view an enhanced version of Figure 4, please visit:
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The Olson project is host to regionally sheared, highly strained meta-volcanic and adjacent intrusive
rocks which are considered to be prospective for orogenic gold mineralization. The Olson project area is
host to 29 mineral occurrences defined by historical geological mapping, prospecting, trenching and
4700 m of diamond drilling. Historical drilling at Olson Lake has 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. The project is considered to be significantly underexplored, with known gold
occurrences open at depth and along strike.
Results are historical in nature and have not been
confirmed by Eagle Plains/SKRR but are considered to be reliable and will form a basis for ongoing
work.
Methodology and 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 to ALS Global, Vancouver 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 ("CRM's") and blanks that were inserted into each sample batch in order to verify the
analytical from the lab. The CRM's from the first five drill holes reported passed within 3.5 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.
Drill Collar Summary Table:
Target
Zone
Length
(m)
UTM ZONE 13
Elevation
(m)
Hole ID
Azimuth °
Dip °
Easting
Northing
OL20001
Juba1
117.86
135
-45
581712
6094717
369
OL20002
Jena5
154.43
310
-45
581683
6094327
386
OL20003
Jena5
139.19
287
-45
581683
6094327
386
OL20004
Point5
212.34
280
-45
581223
6093085
383
OL20005
Point5
81.38
220
-50
581224
6093084
382
The four-week program was supervised by Jarrod Brown, P.Geo. of Terralogic Exploration Services of
Cranbrook, B.C. and relied extensively on support services and personnel from the town of
Deschambault Lake, SK for which SKRR expresses its gratitude.
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 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
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 drilling on the Leland
property, receipt of further assays from the Olson 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, 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.
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