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SKRR Exploration Inc. (TSXV: SKRR) (OTC PINK: SKKRF) (FSE: B04Q) ("SKRR" or the "Company") is pleased to announce that it has commenced planning and permitting activity in preparation for a 1,500m diamond drilling program at the Leland project located 23 kilometers southwest of SSR Mining's Seabee Gold Operation, within the Trans Hudson Corridor of east-central Saskatchewan. Under the terms of the option agreement with Taiga Gold Corp. ("Taiga"), SKRR may earn up to a 75% interest in the Leland property. The preliminary budget for the drill program has been set at $750,000.
Sherman Dahl, CEO of SKRR, commented:
"With SSR Mining recently earning a 60% interest in Taiga's Fisher Gold Project located in the Trans Hudson Corridor, we look forward to drilling the Leland property located in this highly prospective area just southwest of the Seabee Gold Operation. Drill targets are being finalized and upon receipt of permits, a winter drill program is scheduled to commence."
2020 Work Program
The 2020 summer field program at Leland included detailed prospecting and mapping, infill and grid soil geochemical sampling, channel sampling of trenches and ground truthing of EM anomalies generated by 2019 drone survey. Work was focused on the Michelle/Irving area (channel sampling), the East Leland target area (gridded soil sampling) and the newly discovered Irvle magnetic anomaly area (prospecting and soil sampling). An ATV trail was also constructed to provide access from the main camp to the Irving and Simon showing areas. A total of 74 rock samples and 200 soil samples were collected and submitted for geochemical analyses, with results pending.
Highlights of Previous Work at Leland
In 2019 Taiga completed a three-phase geological and geophysical program at Leland. Highlights from the program include:
- Gold mineralization grading up to 5.4 g/t Au over 0.65 m within 2.1 g/t Au over 3.22 m (channel sample) from the Irving trench along the Simon-Irving Trend.
- Discovery of 5 new gold-mineralized occurrences along the Simon-Irving trend grading between 113 ppb Au and 3.5g/t Au.
- Soil geochemical results proximal to the Leland showing (SMDI-2390) support samples collected in 2015 and delineate a new zone of anomalous soils to the west of the Leland Showing and northeast of the Simon Showing (SMDI-2388) that are targets for future follow up work.
- Recent staking by Taiga included claims overlying the Duck Lake Occurrence (SMDI 1731) covers two quartz stockwork zones within a shear with the Main Zone traced on surface for 180m. Limited historical grab sampling returned values up to 3.2 g/t Au.
- Drone magnetic survey defines association of Simon-Irving mineralization with a magnetic low linear feature.
Some of the above results were taken directly from the Saskatchewan Mineral Deposit Index (SMDI) descriptions. SKRR cautions that some of the 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 ongoing work in the Leland Property area. Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the 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 Disclosurefor Mineral Projects.
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
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+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 planned drilling on the Leland property, receipt of permits, 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 or obtain 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68348
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