News Release – Vancouver, British Columbia – February 10, 2021:SKRR Exploration Inc. (TSXV: SKRR; OTC: SKKRF; FSE: B04Q) (“SKRR” or the “Company”) is pleased to announce that it has intersected quartz veining at shallow depth in the first 3 holes completed during the current winter drill program at the Irving-Leland property (the “Irving-Leland Property”), in the Trans Hudson Corridor, Saskatchewan.
Sherman Dahl, chief executive officer of SKRR, comments: “The drill program at the Irving-Leland property is advancing well and we are encouraged by the visual mineralization and the indication of quartz veining. Assays are pending. We look forward to building off this success in the remaining 6 holes of this winter program.”
- Hole LE21001 – The hole targeted mineralization at depth beneath the surface Michelle showing. The hole collared in metagabbro which continued to 36.1m and transitioned to a diorite down to 131.5m, again grading to a metagabbro until the end of the hole. 1 m wide interval of milky white to blue quartz vein was intersected from 12.24m to 13.24m. The quartz vein had up to 2% sulphide mineralization consisting of semi-massive pyrite and pyrrhotite with trace chalcopyrite.
Hole LE21002 – The hole was stepped back on section from LE21001 and targeted beneath the NW Irving and Michelle trenches. The hole intersected fine grained mafic meta volcanics to 41.1m grading to fine grained amphibolite from 41.1m to 112.5m and into a Diorite from 112.5m to end of hole. Two mineralized quartz veins were associated with the amphibolite – diorite contact, notably; 104.54m a 25cm semi-translucent to milky white quartz vein with 0.5% pyrite and trace pyrrhotite and 112.29m a 21cm semi-translucent to milky white quartz vein with 0.5% combined pyrrhotite and chalcopyrite blebs.
- Hole LE21003 – The hole was collared tot the east of LE210002 and drilled to the west beneath the Irving showing. The hole encountered mafic metavolcanics from 8.1m to 25.4m grading to a medium grained amphibolite from 25.4m to 73.9m then alternating sequences of Diorite to mafic metavolcanics from 73.9m to end of hole. From 46.25m to 47.6m the interval contained up to 1-2% discontinuous mineralized quartz veins of 1-2cm scale with up to 5% massive pyrrhotite and chalcopyrite. Between 50.0 and 50.5m three narrow mineralized quartz veins were present from <1cm to 6cm in width and with associated sulphide mineralization with locally up to 5% wispy pyrrhotite and pyrite and 15% pyrrhotite and pyrite blebs with trace chalcopyrite.
2021 Drill Program
The 2021 winter drill program is focusing on testing a 1 km strike length of the gold-mineralized shear system between the Irving Lake and Simon Lake showings on the west side of the Irving-Leland claims. This first drill program is testing this orogenic gold-bearing system. Targets have been prioritized based on surface rock grab and trenching results, soil geochemistry and detailed airborne (drone) magnetic survey data. Up to a total of 9 holes from 6 pads are planned for the 1,600m drill program this winter.
The first three holes of the nine-hole 1600m drill program at SKRR’s Irving-Leland project have been completed. The holes have targeted the Michelle, NW Irving and Irving showings located in the western part of the project area where historic work as identified numerous gold-bearing quartz veins with notable grades including the Irving-Leland Lake South Zone, which hosts grab samples ranging from trace values to up to 32.8 g/t Au and 8.6 g/t Au; and the Simon/Irving Lake Zone, which returned up to 60 g/t Au and 53 g/t Au from within a 2km x 600m shear zone centered along an open- ended contact between mafic volcanic and intrusive rocks. Field work during 2019 and 2020 identified 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 and the discovery of 5 new gold-mineralized occurrences along the Simon-Irving trend grading between 113 ppb Au and 3.5g/t Au. All three holes have intersected varying degrees of mineralization of quartz vein and associated sulphide mineralization (pyrite, pyrrhotite, and locally chalcopyrite), in widths from cm to up to 1m at depth beneath the surface showings.
All references to depth in this news release are downhole, and true thickness has yet to be determined. Drill core is being logged and split for samples to be sent for assaying. Assays will be reported when received.
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 the Irving-Leland Property
SKRR’s Irving /Leland Project is a large land package covering more than 23,500 hectares strategically located within 10km of SRR Mining’s very successful Seabee Gold Mine operation, Saskatchewan’s largest orogenic gold deposit within the Trans Hudson Corridor. The Company owns 100% of the Irving claims and under the terms of the option agreement with Taiga Gold Corp. (“Taiga”), SKRR may earn up to a 75% interest in the Leland claims.
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
For further information contact:
Rich Matthews, Investor Relations
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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 Irving-Leland Property, receipt of assays from the Irving-Leland Property, 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 or failure to obtain the necessary equipment, adverse weather 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, 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.