News Release – Vancouver, British Columbia – September 10, 2020:SKRR Exploration Inc. (TSXV: SKRR) (“SKRR” or the “Company”) is pleased to report results from a Phase One geological and geophysical program completed on the Olson property (the “Property”). The Property is located within the Trans Hudson Corridor 100 km east of La Ronge, Saskatchewan and 80km south of SSR Mining’s Seabee Gold Operation. Under the terms of the option agreement with Eagle Plains Resources Ltd. (“Eagle Plains”), SKRR may earn-in up to a 75% interest in the Property.
Sherman Dahl, CEO stated:
“The large amount of historical data has taken quite a while to review and evaluate. With this process nearing completion along with our summer results, some very exciting drill targets are evolving. We look forward to commencing our drilling program in the next few weeks on the Olson property.”
The 2020 exploration program defined widespread gold mineralization in both soil samples and in rock channel samples. Assay results include 17 rock samples over 1.0 g/t Au and 35 soil samples values over 0.1 g/t (100 ppb) Au. Each showing inspected in 2020 returned samples with favourable assay results and the fieldwork conducted furthered the geologic vectoring of gold mineralization. With the information gathered in the first phase of exploration work, the upcoming second phase drilling program at Olson will target historically drilled zones, as well as previously undrilled and underexplored showings, both with a new understanding of gold mineralization controls.
Phase One Work Summary
Phase One fieldwork was designed to define targets for a Phase Two diamond drilling program planned for late September 2020. Discovery International Geophysics recently completed 13 lines (8.6 line kilometers total) of combined IP/ DC Resistivity over the Point, Tuscan and Juba areas. This was followed by a 13 day geological field program carried out by Terralogic Exploration Inc. Soil sampling, prospecting, field mapping, and channel sampling were undertaken to delineate new areas of gold mineralization as well as advance known showings to identify and prioritize drill targets.
In total, 484 gridded soil samples were collected at the Point, Tuscan, Ackbar, Jena and Juba showing areas. Mapping and prospecting work was conducted to confirm gold mineralization at known showings and in underexplored areas of the property, including the Juba, Jena, Point, Ackbar, Tuscan, Olson, and Dosko-Siskin showing areas. Based on a synthesis of historical results, and exciting findings made during the first half of the phase one program, prospective targets within the greater Point and Juba showing areas were subjected to channel sampling.
Phase One Results
Juba – Jena
Of the 27 rock grab samples collected in the Jena-Juba trend, 4 returned assay results over 1 g/t Au. The highest value was OMOLR014 which returned 14.7 g/t Au from a sample of quartz vein hosted in pelitic schist. This sample was collected approximately 400m south of the historic Juba showing in an area identified by 2018 soil sampling.
Rock channel sampling at the Juba showing tested a shear-vein system hosted in pelitic schist. Assay results from the 16 channel samples returned between 0 and 2.9 g/t Au. The best result was EMOLR071 which returned 2.9 g/t Au from a 0.75 meter channel sample containing sheared quartz vein material associated with massive arsenopyrite.
The soil geochemical grids established at the Jena-Juba area in 2020 clearly identify a strong northeast trending gold-in-soil anomaly over and along strike from the known workings. The surface vein expression and coincident soil geochemical anomaly, trends along strike in tandem with magnetic geophysical lineaments that delineate the contact between the Brownell Lake pluton and the surrounding Brownell Lake Group which is coincident with increased shearing, alteration intensity and quartz veining. The combined data outlines a testable mineral strike length in excess of 1 km.
Point – Ackbar
Centered 1500m southwest of the Jena showing, the Point-Ackbar grid area is underlain by granite in contact with pelitic schist and volcanics. Prospecting, mapping, channel sampling, and infill soil geochemical sampling was completed in this area to test coincident geochemical and geophysical anomalies adjacent to contacts with pelitic schist at the Point, and shear/vein systems in granodiorite at the Ackbar.
At the Point showing, soil geochemical results highlight three parallel NNE Au-anomaly trends that coincide with geophysical anomalies trending parallel to the granite contact. 2020 channel sampling focused on targets areas at the intersection of these NNE geochemical trends with mapped east-west trending shear zones. Channel sampling completed over one of these intersections comprised 20 samples over a continuous 17m length. Assay results from the channel samples range from 7 to 1540 ppb Au (EMOLR068 1.54 g/t Au / 1.05m), averaging 377 ppb gold over the entire 17m length, from granodiorite hosting parallel moderately north-dipping shears with associated sub-parallel quartz veinlets and arsenopyrite mineralization.
The 43 grab samples taken from the Point area during prospecting traverses returned values from 0 to up to 4.4 g/t Au (OMOLR021).
Of the 7 grab samples collected from Ackbar, 3 returned values greater than 900 ppb Au with a best assay of 2.5 g/t Au (JBOLR023). Prospecting and mapping confirmed that northwest and north trending fractures and quartz veins in granite are important carriers of mineralization in the Ackbar area. Results of the soil geochemical infill program indicate strong north-trending cohesive anomalies with results as high as 3500 ppb (3.5 g/t) Au (OLL077 05+75E).
Field work was also undertaken at the Olson and Dosko-Siskin zones. At the Olson, a grab sample containing massive arsenopyrite hosted in schistose volcanics collected from the main historical trench returned 38.6 g/t Au (EMOLR007). At the Dosko-Siskin showing, a grab sample of tightly folded volcanics containing massive arsenopyrite returned 1.6 g/t Au (OLOLR008). 2020 geological mapping and interpretation indicates a strong structural control of the gold mineralization, with recognition of a previously un-reported structure that may have property-scale ore-shoot control.
The data from the IP Resistivity geophysical survey is undergoing detailed interpretation. The final inversion models will be integrated with the soil, rock, and channel results, and the geological mapping to pick the collars for the upcoming diamond drill program.
Olson Project Summary
The Olson project is host to regionally-sheared, highly-strained meta-volcanic and adjacent intrusive rocks which are considered to be prospective for orogenic gold mineralization. The Olson project area is host to 29 mineral occurrences defined by historical geological mapping, prospecting, trenching and 4700 m of diamond drilling. Historical drilling at Olson Lake has intersected 7.5 m grading 2.07 g/t Au including 13.00 g/t Au over 0.65 m, and grab samples of up to 105.52 g/t Au have been collected at the Kalix occurrence. The project is considered to be significantly underexplored, with known gold occurrences open at depth and along strike. These results are historical in nature and have not been confirmed by Eagle Plains/SKRR but are considered to be reliable and will form a basis for ongoing work.
In 2018, Eagle Plains and a previous partner completed a detailed compilation of existing data, followed by a 2- Phase, $150,000 field program which consisted of geological mapping and prospecting and the collection of a total of 862 soil samples and 126 rock samples.
The 2018 field program verified the results of historical work and identified additional targets in areas that were previously underexplored. Grid soil geochemistry at the Jena and Point areas returned extensive gold in soil anomalies. Soil geochemical values ranged from below detection to a maximum of 2704.6 ppb Au, with 6 samples returning greater than 1000 ppb Au. In the Jena area, soil geochemistry delineated a 1.4 km strike length of anomalous soil results greater than 80 ppb Au with a maximum of 1346 ppb Au. The Ackbar-Tuscan-Point area also returned promising results, with a 300m by 100m zone returning values greater than 80 ppb Au and a maximum of 2704.6 ppb Au. Despite widespread gold bearing outcrops, soil geochemistry at the Olson and Juba showing areas returned lower values, likely related to thick clay and soil cover in these areas.
Prospecting in the areas of anomalous soil geochemistry identified gold mineralization associated with shear-hosted quartz veins. Analytical results from outcrop ranged from below detection to a maximum of 45.1 g/t Au, with 20 grab samples returning greater than 1000 ppb Au. The Olson area had a maximum assay of 41.0 g/t Au from an outcrop grab sample of sheeted veins. The Jena area had 20 samples in excess of 1000 ppb Au with a maximum assay of 15.7 g/t Au from quartz-arsenopyrite veins. At the Juba occurrence, a grab sample returned 13.1 g/t Au. Mineralization at the Point and Tuscan area returned maximum values of 9.8 g/t Au at the Point and 45.1 g/t Au at Tuscan.
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 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
President & CEO
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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 Olson property, work on other properties, 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.
Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the Property.