SKRR Exploration Drill Program Intersects Arsenopyrite Sulphides and Disseminated Arsenopyrite and Quartz Veining

- October 14th, 2020

SKRR Exploration Inc.    is pleased to report intersections of arsenopyrite bearing sulphides and disseminated arsenopyrite and quartz veining in the current and ongoing drill program at the Olson property in the Trans Hudson Corridor, Saskatchewan. Sherman Dahl Chief Executive Officer of SKRR comments: ” The visual indications of mineralization for which assays are pending, are encouraging.” The drill program at …

SKRR Exploration Inc. (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) (” SKRR ” or the ” Company “) is pleased to report intersections of arsenopyrite bearing sulphides and disseminated arsenopyrite and quartz veining in the current and ongoing drill program at the Olson property in the Trans Hudson Corridor, Saskatchewan.

Sherman Dahl , Chief Executive Officer of SKRR comments:

The visual indications of mineralization for which assays are pending, are encouraging.”

The drill program at the Olson property is advancing well. To date a total of 7 holes totaling 968m have been completed on 3 separate target areas; Jena/Juba, Point and Tuscan.

  • Jena/Juba – Twenty surface samples from outcrops taken earlier this summer returned values >1000 ppb Au, with a maximum of 15.7 g/t Au from quartz arsenopyrite veins (see News Release June 02, 2020 ). One hole (OL20001) tested beneath the Juba arsenopyrite-bearing trenches.  Two holes (OL20002 and OL0003) tested the south Jena area to test a significant IP chargeability anomaly with coincident with the northwest dipping contact between a feldspar porphyry to the east and meta-sediments to the west.
    • OL20001 was an angle hole, drilled to the SE and completed to a depth of 116m .  The hole tested a coincident conductive IP geophysics anomaly associated with arsenopyrite bearing metasedimentary rocks in surface trenches.  Formational pyrite and graphite were encountered in the hole and likely accounted for the IP anomaly.  No obvious mineralization was encountered.
    • OL20002 was an angle hole oriented to the west and completed to a depth of 152m .  The hole collared in granodiorite and intersected a sedimentary contact at 76.6m . Intermittent intervals of quartz and sulphide (pyrite, arsenopyrite +/- chalcopyrite) mineralized zones were encountered between 67m to 76.6m . The hole continued in sedimentary schist until 103.6m then back into intrusive rocks (porphyritic monzonite) to 116m . Well developed quartz and sulphide mineralization was encountered from 114m to 116.14m with 3-10% arsenopyrite both disseminated and in massive blebs.
    • OL20003 was an angle hole collared from the same set-up as OL2002 but at 23 degree azimuth change to the south. The hole collared in granodiorite, encountered a single sedimentary contact, which had some notable arsenopyrite occurrence, but not the intensity of mineralization as in the previous hole.
  • Point – Three angle drill holes (OL20004, OL20005 and OL20006) tested the Point target where earlier field work this summer identified anomalous soil geochemistry (80 ppb to 2704.6 ppb Au) and prospecting returned assays up to 9.8 g/t Au.  All three holes were collared in granodiorite, and were designed to test for mineralization associated with an interpreted meta-sedimentary contact projected to be encountered around ~230m depth.
    • OL20004 was an angle hole oriented to the west and designed to test a projected sediment contact around 230m , beneath Michael Lake . The hole was collared in granodiorite and encountered sediments at only 27m depth. Multiple pods of intrusive rock were present to 91m . Arsenopyrite was encountered in every unit from top to bottom of this hole with the strongest occurrences in the upper 40m of Granodiorite, present in disseminated and massive blebs. Significant arsenopyrite (up to 3% disseminated and massive blebs) was also present within the fine grained meta-pelitic sediments associated with numerous narrow quartz-chlorite veins, particularly abundant between 114m to 141m . From 146m to 151m strong arsenopyrite (2-5%) was present within foliated sediments.
    • OL20005 was an angle hole collared from the same set-up as OL20004, but at 60 degree azimuth change to the south. The hole collared in granodiorite which continued to 20.2m , after which the sediment contact was encountered. The hole remained in sediments to the end of hole at 80m .  Abundant disseminated arsenopyrite was encountered in the top 26m of the hole within granodiorite and dropped off rapidly after 26m .
    • OL20006 was an angle hole drilled to the south. The hole was designed to test a series of stacked mineralized shears within granodiorite where surface rock samples returned up to 3 g/t Au. The hole intersected granodiorite from top to bottom. Trace sulphides were present throughout, but 2 shear zones with narrow quartz-chlorite veins stand out with mineralization of 1-5% arsenopyrite; 32.2m to 62m and 95m to 105m .
  • Tuscan – drilling at Tuscan is designed to test the east west intrusive contacts observed at the Tuscan surface showing. Field work from the earlier summer program included prospecting at Tuscan, where assay results returned peaks up to 45.1 g/t Au.
    • OL20007 was an angle hole drilled to the south and completed to a depth of 137m . The hole collared in granodiorite and intersected the contact with sedimentary rocks at 96.65m . A second granodiorite was intersected at 120.75m . Promising mineralization was encountered in 2 distinct zones of sulphide mineralization ( 100.5m to 105.8m and 112.85m to 115.55m ) with the most significant being the interval from 112.85m to 115.55m which contained semi-massive to massive sulphide mineralization with up to 40% pyrite and 15% arsenopyrite.

Table 1:  Drill Hole Summary

Collar

Hole ID

Zone

Azimuth

Dip

Total Depth

(m)

OL20001

Juba

135

-45

116

OL20002

Jena

310

-45

152

OL20003

Jena

287

-45

137

OL20004

Point

280

-45

209

OL20005

Point

220

-50

80

OL20006

Point

180

-50

137

OL20007

Tuscan

190

-45

137

Total

968m

Samples from all seven (7) drill holes have been delivered to the laboratory and assay results are pending.

A variety of core photos are now available www.skrr.ca .

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

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 Olson property, receipt of assays, 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.

SOURCE SKRR Exploration Inc.

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