SKRR Exploration Inc. Provides Update on Drill Program and Pending Assays on the Historic Manson Bay Project
SKRR Exploration Inc. Provides Update on
Drill Program and Pending Assays on the
Historic Manson Bay Project
VANCOUVER, BC
,
Dec. 2, 2021
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (OTC Pink:
SKKRF) (FSE: B04Q) ("
SKRR
" or the "
Company
") previously announced the completion of a 12-
hole drill program on its 100-per-cent-owned Manson Bay gold project located in the Trans Hudson
corridor in east-central
Saskatchewan
, approximately 40 kilometres northwest of the historic mining
centre of
Flin Flon
, on the
Manitoba
border. All 12 holes intersected varying degrees of
mineralization within shear and brecciation zones. The Manson Bay project consists of 13 mineral
claims comprising a total of approximately 4,293 hectares.
Sherman Dahl
, SKRR's chief executive officer, further stated:
"We are very pleased with our drill program and are excited to report that assay results are
well underway and are expected within the next few weeks. Manson Bay stands out as one
of the most advanced projects within the SKRR Exploration portfolio of projects in the
Saskatchewan Trans Hudson Corridor. The Manson Bay program is moving along as
planned and we have been hitting encouraging mineralization in all holes. Our geological
team amended the drill plan based on new information from current drilling and has been
updating the exploration model daily. New drill holes based on the refined model were also
drilled. At this point, all of us are extremely excited with the drill intercepts. We are seeing
interval intercepts up to 26.5 metres wide (MB21001) with significant concentrations of
various sulphides. In addition, our research has uncovered the fact that Hudbay was
constrained by their property boundary to the south where we have drilled stepout holes
that have also hit the similar style of mineralization in shear-breccia zones. We eagerly
await assay results and plan to update shareholders very soon."
2021 Manson Bay Drill Program
QB Drilling was contracted to conduct a 1,700-metre nine-hole NQ core drill program at the Manson
Bay project, and due to drilling success was expanded to 12 holes. The primary focus of the drilling
was to test the historic Manson Bay gold zone, where historic drilling by Hudbay Minerals (1985) and
MinGold Resources (1987 to 1988) outlined a gold-rich zone, with highlights such as historic drill hole
MBO-15 that intersected 15.39 grams per tonne gold over 10.03 metres, including a high-grade
interval of 23.13 g/t Au over
6.40 m
.
A total of 12 holes were completed in
1,684.3 m
. Ten holes targeted within the outlined historic
Manson Bay gold zone over approximately 450 metres of strike, with the aim to confirm and expand
upon historic results. All 10 holes intersected sulphide mineralization in multiple stacked sheared and
brecciated zones, occasionally graphitic, ranging in width from
0.65 m
to
26.5 m
wide. Sulphide
mineralization occurs in disseminated and interstitial, to stringers, fracture fillings and occasionally
semi-massive to massive blebs. Sulphides generally include 1 per cent to 10 per cent pyrite and
pyrrhotite, and occasionally 1 per cent to 2 per cent sphalerite and rarely galena.
Two additional holes (MB210010 and MB210011) tested along strike to the southwest
approximately 300 metres and 700 metres, respectively, of the southern extent of the Manson Bay
gold zone. Similar in nature to the 10 holes tested within the gold zone, the two regional holes
intersected multiple shear zones with sulphide mineralization.
Samples from drill core have been split in half sections on site. One-half of the split sample has been
sent for multielement analysis. The other half of the split core will remain on site for reference.
Assay results are pending and will be released after they have been received and analyzed. The
assay results are expected within the next two weeks and SKRR's management thanks all SKRR
shareholders for their patience in a world where assay labs are understandably backed up.
Assay results from historic holes mentioned in this news release were summarized 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 continuing work at the Manson Bay project.
Assay results from the recent drill program will be used by SKRR in order to verify the historical
work on the Manson Bay project. Management cautions that past results or discoveries on
proximate land are not necessarily indicative of the results that may be achieved on the subject
property.
Leland Option Termination
SKRR entered into a termination agreement (the "
Termination Agreement
") with Taiga Gold Corp.
("
Taiga
") whereby Taiga and SKRR have mutually agreed to terminate the Option Agreement on
the Leland property, dated
May 20, 2020
between SKRR and Taiga (the "
Option Agreement
").
Under the terms of the Termination Agreement, Taiga has agreed to pay SKRR
$900,000
in cash to
terminate the Option Agreement, effective immediately. SKRR no longer has any rights to the Leland
Property nor the obligation to make cash payments, issue common shares or incur exploration
expenditures nor incur a 2% NSR on the Leland property. As a result, Taiga now owns and controls
a 100% interest in the Leland property. SKRR continues to have the option to acquire a 100%
interest in the Irving project which is in close proximity to 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 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 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 receipt
of assays from the Manson Bay Project and the expected outcomes, 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, 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, risks related to the inherent uncertainty of exploration and cost
estimates and the potential for unexpected costs and expenses and those other risks 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, failure to secure personnel and equipment for work programs, adverse weather
and climate conditions, 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, decrease in the price of gold and other metals, 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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%SEDAR: 00027214E
For further information:
Sherman Dahl, President & CEO, Tel: 250-558-8340
CO: SKRR Exploration Inc.
CNW 09:00e 02-DEC-21