News Release – Vancouver, B.C., March 9, 2022: SKRR Exploration Inc. (TSXV: SKRR; OTC Pink: SKKRF; FSE: B04Q) (“SKRR” or the “Company”) is pleased to report a current update on intersections of arsenopyrite-bearing sulphides, along with disseminated arsenopyrite and quartz veining, in the now completed drill program at the flagship Olson Gold property in the Trans-Hudson corridor in Saskatchewan, with assay results pending.
Sherman Dahl, Chief Executive Officer of SKRR comments:
“The visual indications of mineralization for which assays are pending are encouraging. It is important to note the continuation of mineralization and the indications that this second drill program at Olson points to an expansion of the known gold zones at Olson. In addition, SKRR exploration will be reviewing exploration possibilities for both its Father Lake Nickel property and the highly prospective Watts Lake Zinc-Silver property. The interest in battery metals and the overall supply shortages highlight the potential upside of not only SKRR gold properties, but also the nickel and zinc assets under SKRR control.”
Watts Lake Zinc property highlights: • World-class jurisdiction: Saskatchewan is consistently ranked globally as one of top mining investment jurisdictions. • Large land package in a favourable geological setting: Watts Lake is a large contiguous land package consisting of 13,708 hectares in the established, deposit endowed La Ronge domain, of Saskatchewan. The project is strategically located near important infrastructure, including within 20 km of major provincial highway network. • Historic Borys Lake lead-zinc zones: The Borys Lake corridor is anchored by the shallow depth historic Borys Lake lead-zinc deposit, including all four known drill hole delineated zones: Mac, Main, Will A/Will B and Sam zones. The Main zone was interpreted to have an approximate strike length of 975 metres and widths varying from 5.3 to 19.5 m with the zinc to lead ratio being approximately 10:1. Mineralization is open along strike and at depth. • Strong blue-sky potential: Watts Lake project area covers multiple, parallel basement conductive corridors, identified by a 2008 airborne versatile time-domain electromagnetic (VTEM) geophysical survey, including the entire approximately 14 km long Borys Lake conductive corridor, as well as significant portions of parallel corridors. The conductive corridors have numerous drill intersections and surface identified mineralized occurrences of zinc, copper and silver as well as anomalous gold, nickel and cobalt.
The Father Lake nickel property details:
The Father Lake property is located 40 km northeast of the hamlet of Stony Rapids in the province of Saskatchewan. Stony Rapids is a full-service community with a commercial airport. Access to the property is through fixed wing or helicopter aircraft. From a regional perspective, the property lies along the Snowbird tectonic zone (SBTZ), which is a 2,800-kilometre-long Archean-age crustal-scale structural break. Locally, the property is situated immediately south of the Grease River fault. Geologically, the area is underlain by metasedimentary rocks which are intruded by a three-kilometre-long norite sill trending 65 degrees to 80 degrees that varies in thickness from 215 m to 800 m.
The nine contiguous mineral claims that comprise the Father Lake property cover approximately 12 km of prospective geologic trend, including the three-kilometre-long norite sill that is host to the historic Dumas A, B, C and D nickel-copper sulphide showings, as well as additional identified airborne electromagnetic (EM) geophysics anomalies along trend to the northeast that show TAU decay signatures similar to that at the Dumas showings. Zone C is the westernmost zone, while zones A/ B are the easternmost and located approximately three km to the east and interpreted to be the fault offset continuation of zones C and D. Zone D is situated halfway between zone C and zones A/B. The area has been the subject of historic exploration work dating back to 1956 by Father Lake Mining Co. with the discovery of Dumas zones A, B, C and D and drilling of 18 holes. An additional 11 drill holes were completed in 1969 by Pathfinder Resources Ltd. and more recently in 2007 to 2008, Strongbow Exploration conducted airborne geophysics surveys (MegaTEM and VTEM platforms) and drilled five holes to test geophysics targets that appeared to be associated with the showings, as well as targets away from the showings.
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 future work on both the Watts Lake and Father Lake properties.
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.
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
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.
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 Olson property drill program and the expected outcomes and results, the receipt of assays from the Olson drill program, 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, 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.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, adverse weather or climate conditions, decrease in the price of gold and other metals, equipment failures or failure to obtain the necessary equipment, 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.