SKRR Exploration Inc. Plans Work Program for Clearwater West Property, Saskatchewan
SKRR Exploration Inc. Plans Work Program
for Clearwater West Property, Saskatchewan
VANCOUVER, BC
,
Aug. 30, 2023
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("
SKRR
" or the "
Company
") is pleased to announce that a review of the previous exploration
work is currently underway as well as a reassessment of the untested drill targets on the Clearwater
West Property,
Saskatchewan
. The application for the work permits for the planned winter 2024
exploration work has been submitted to the Ministry of Environment of
Saskatchewan
. SKRR
previously entered into a property option agreement with F3 Uranium Corp. (TSXV: FUU) (see
SKRR's news release dated
May 25, 2023
), whereby SKRR has an option to acquire up to a 70%
interest in the Clearwater West Property.
The
Athabasca
Basin region hosts the world's richest uranium deposits, with a well-established and
politically stable uranium exploration and mining sector. The Clearwater West Property is located
~20km outside the edge and in the south-west area of the
Athabasca
Basin, which is poised to
become the next area for the development of major uranium mines in
Saskatchewan
. It is 13km
south of Fission Uranium's Triple R deposit, located 7 km outside the basin edge on its PLS
Property, where a Feasibility Study was recently completed, and 17 km south of NexGen's Arrow
uranium deposit. The Clearwater West property is comprised of 3 contiguous mineral claims totalling
11,786 hectares which are immediately south and adjacent to Fission Uranium's PLS property.
SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of
the results that may be achieved on the Clearwater West Property.
Clearwater West is an early-stage exploration project prospective for hosting high grade uranium
mineralization. Such mineralization is structurally controlled and typically associated with basement
sulphide and graphite bearing shear zones with associated hydrothermal alteration resulting in
accompanying clay altered basement lithologies. These features have unique characteristics that can
often be distinguished by various geophysical surveys. The sulphide and graphite bearing shear
zones with which the mineralization is typically associated, can often be discriminated as
electromagnetic (EM) conductors.
An airborne Versatile Time Domain Electromagnetic (VTEM Max) airborne EM survey flown in 2013
defined several parallel conductors with predominantly NE-SW trending strike direction trends, which
could be the extensions of the EM conductors identified on the PLN property immediately to the
north. A total of 24 discrete conductive target areas were located across the property.
The airborne survey was followed up by ground geophysics, including ground small moving loop
Time Domain Electromatic (TDEM) and DC-Resistivity surveys over several of the conductors. Five
IP Resistivity targets and 8 separate VTEM conductors were covered with ground TDEM surveys
which defined drill targets. A maiden drill program was carried out in the summer of 2015, but due to
budget constraints, only three drill holes were completed testing 3 separate targets, leaving many
targets untested. Furthermore, subsequent review has shown that the 3 targets were not adequately
tested. Nevertheless, results for the first 3 holes encountered features characteristic of fertile
systems that have the potential to host high-grade uranium mineralization, including graphitic granite
gneiss basement lithologies, structural disruptions and indications of localized hydrothermal
alteration.
A review of the previous exploration work is currently underway as well as a reassessment of the
untested drill targets. Additional ground geophysics is being planned for the early winter of 2024 on
the airborne EM conductors that still warrant ground follow-up to identify and define new drill targets.
All the targets, including the 3 that were drill tested in the maiden 2015 drilling program, will then be
prioritized for subsequent 2024 drill testing planned for the winter of 2024, subject to receipt of
permits. The application for the work permits for the winter 2024 exploration work has been
submitted to the Ministry of Environment of
Saskatchewan
.
Summary of the Clearwater West Project
F3's experienced and successful management and technical team, with a track record of three major
high grade uranium discoveries in the
Athabasca
Basin region (
Jay Zone
at the Waterbury Lake
project, Triple R at Fission Uranium's PLS project and most recently the JR Zone on F3 Uranium's
PLN Property. F3 operates and manages the Clearwater West project.
Qualified Person:
The scientific and technical information in this news release has been prepared in accordance with
the Canadian regulatory requirements set out in National Instrument 43-101-
Standards of
Disclosure for Mineral Projects
("
NI 43-101
") and review and approved by
Raymond Ashley
,
P.Geo., President & COO of F3 Uranium Corp., a "Qualified Person" as defined in NI 43-101.
About SKRR Exploration Inc.
:
SKRR is a Canadian-based precious and base metal explorer with properties in
British Columbia
and
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.
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 work programs on the Clearwater West Property including the receipt of permits, other
statements relating to the technical, financial and business prospects of the Company, its projects
and other matters, and the Company's plans and goals. 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,
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.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, adverse weather or climate
conditions, decrease in the price of metals, equipment failures or failure to obtain the necessary
equipment, failure to obtain and/or 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 03:01e 30-AUG-23