News Release – Vancouver, British Columbia – December 21, 2021 – SKRR Exploration Inc. (TSXV: SKRR; OTC: SKKRF; FSE: B04Q) (“SKRR” or the “Company”) is pleased to report results from its 12-hole, 1,687.68m (5,524’ feet) fall drill program on the 100%-owned Manson Bay gold project located in the Trans Hudson corridor in east-central Saskatchewan. Ten holes targeted within the outlined historic Manson Bay Gold Zone over approximately 450m of strike, with the aim to confirm and expand upon historic results and two additional holes tested along strike to the south-west ~300m and 700m respectively of the southern extent of the Manson Bay Gold Zone. Ten holes intersected sulphide mineralization in multiple stacked sheared and brecciated zones, occasionally graphitic, returning significantly anomalous assays in widths ranging in width from 4.57m to 20.29 meters wide (down hole width).
- MB21001: 2.14 g/t Au, 12.90 g/t Ag, 0.13% Pb, and 0.55% Zn over 10.23m (85.68m to 95.91m)
including: 3.07 g/t Au, 15.60 g/t Ag, 0.16% Pb, and 0.64% Zn over 6.20m (89.71m to 95.91m)
- MB21002: 1.14 g/t Au, 9.49 g/t Ag,0.13% Pb, and 0.79% Zn over 9.33m (99.57m to 108.90m)
- MB21004: 1.79 g/t Au, 13.75 g/t Ag,0.20% Pb, and 0.47% Zn over 20.29m (96.26m to 116.55m)
including: 4.01 g/t Au, 28.24 g/t Ag, 0.42% Pb, and 0.76% Zn over 7.75m (106.75m to 114.5m)
- MB21006: 1.10 g/t Au, 21.05 g/t Ag, 0.44% Pb, and 0.93% Zn over 9.00m (41.00m to 50.00m)
- MB21012: 0.74g/t Au, 5.77g/t Ag, 0.06% Pb, and 0.45% Zn over 14.42m (148.00m to 162.42m)
Anomalous assays results are coincident with sulphide mineralization occuring in disseminated and interstitial, to stringers, fracture filling
s and occasionally semi-massive to massive blebs. Sulphides generally include 1% to 10% pyrite and pyrrhotite, and occasionally 1% – 2% sphalerite and rarely galena.
Sherman Dahl, CEO commented:
“The Manson Bay results are exciting. SKRR is pleased to let all of our long-term investors and all new investors know that we are just getting started. In the last few years, we have done all that we set out to do with multiple discoveries. Even better is we start drilling again in January 2022 and will soon announce back-to-back drill programs at the Olson property along with going back to Manson Bay. Saskatchewan has so much to offer. The Trans Hudson Corridor is extremely well known, yet way underexplored. That is about to change. SKRR is not the only one dedicating serious resources to uncovering the mineral wealth of Saskatchewan, one of the world’s top jurisdictions.”
Ten of twelve drill holes completed during this program served to in-fill gaps in historic drilling as well as test down-dip extensions of historic intercepts of mineralization at the Manson Bay gold zone (SMDI #2280) where historic drilling by Hudbay Minerals (1985) and MinGold Resources (1987 to 1988) outlined a gold-rich and anomalous silver and base metals zone. Two additional drillholes completed in 2021 aimed to test conductors along-strike to the SW of the Manson Lake gold zone. Drillhole planning for this drill program relied on the results of field exploration activity conducted in the summer of 2021 as well as historic data.
Drill holes completed in 2021 encountered primarily different varieties of paragneiss with short intervals of pegmatite dyke. The most impressive mineralization was generally hosted in altered and brecciated shear zones with up to 10% total disseminated-interstitial-semimassive pyrrhotite, pyrite, sphalerite, and galena.
Analytical results ranged from trace values to higher-grade intercepts, as summarized below.
Significant Intercepts Table:
|Hole||From (m)||To (m)||Core Length (m)||Au (g/t)||Ag (g/t)||Pb (%)||Zn (%)||AuEq (g/t)|
|MB21010, MB21011 no significant intercepts|
* Drill indicated intercepts (core length) are reported as drilled widths; true thickness is undetermined.
** No cutoffs or metal recoverability were factored into AuEq calculations.
*** Assumptions used in USD for the gold equivalent calculation were metal prices of $1,783.00/oz Au, $22.47/oz Ag, $1.49/lb Zn, and $1.02/lb Pb. Gold equivalent (AuEq) was calculated using the formula AuEq = Augpt + ((Zn%*Zn Price*22.0462) + (Ag *Ag Price/31.1035) + (Pb%*Pb price*22.0462)) / (Cu price*22.0462)
Drill core locations and Manson Bay maps are available at www.skrr.ca.
Drill holes MB21001 and MB21002 were drilled from the same pad with dips of 70° and 85° respectively. These holes were collared proximal to the historic hole MBO-15 to confirm mineralization encountered in that hole. Mineralization consisted of up to 10% total net textured pyrrhotite and pyrite. Drillhole MB21001 intercepted 12.90 g/t Ag, 2.14 g/t Au, 0.13% Pb, and 0.55% Zn over 10.23m from 85.68m to 95.91m. Drillhole MB21002 intercepted 9.49 g/t Ag, 1.14 g/t Au, 0.13% Pb, and 0.79% Zn over 9.33m from 99.57m to 108.90m.
Drill hole MB21003 was designed as an in-fill hole roughly equidistant from historic drillholes MBO-8, MBO-9, MBO-14, and MBO-36. Hole MB21003 intercepted a sheared and brecciated zone with up to 10% net-textured pyrrhotite/pyrite as well as local disseminations of 0.5% sphalerite. This zone returned 4.63 g/t Ag, 0.63 g/t Au, 0.07% Pb, and 0.29% Zn over 8.40m from 53.75m to 62.15m.
Drill hole MB21004 aimed to test the mineralized shear roughly equidistant from MBO-16, MBO-34, MBO-37, and MBO-42. The hole intercepted several, wide brecciated and sheared zone hosting up to 7% semimassive pyrrhotite, 3% semimassive pyrite, and 0.5% interstitial galena/sphalerite. Assay results from this hole returned 13.75 g/t Ag, 1.79 g/t Au, 0.20% Pb, and 0.47% Zn over 20.29m including 29.00 g/t Ag, 13.70 g/t Au, 0.21% Pb, and 1.12% Zn over 0.75m.
Drill hole MB21005 was designed to test the up-dip extension of mineralization at the Manson Lake Gold Zone. The drillhole intercepted several metres of brecciated/sheared gneiss with 3-5% disseminated-blebby pyrite. Assay results from this hole returned 5.57g/t Ag, 0.72g/t Au, 0.04% Pb, and 0.26% Zn over 7.30m from 48.35m to 55.65m.
Drill hole MB21006 was designed as a 40m step-back, down-dip from MB21005 to in-fill historic holes MBO-6, MBO-7, MBO-12, and MBO-13. The drillhole intercepted a sheared and brecciated zone with 3% semimassive pyrite, 2% blebby pyrrhotite, 2% disseminated sphalerite, and 1% disseminated galena forming an interlocking texture. Assay results from this hole returned 21.05g/t Ag, 1.10g/t Au, 0.44% Pb, and 0.93% Zn over 9.00m from 41.00m to 50.00m, including 88.57g/t Ag, 3.56g/t Au, 2.03% Pb, and 3.83% Zn over 1.60m from 43.80m to 45.40m.
Drill hole MB21007 was designed as a 160m step-back from historic drill holes MBO-12 and MBO-13 to test the down-dip extension of mineralization on the northern side of the Manson Bay Gold Zone. The drill hole intercepted a short (~4m) zone of brecciation and shearing with 3% interstitial pyrrhotite, 1-2% pyrite, and 0.5% sphalerite. This zone returned 5.57g/t Ag, 0.62g/t Au, 0.05% Pb, and 0.59% Zn over 4.82m from 169.47m to 174.29m, including 5.61g/t Ag, 2.02g/t Au, 0.03% Pb, and 0.62% Zn over 1.03m from 172.52m to 173.55m.
Drill hole MB21008 and MB21009 were designed to in-fill zones of shearing near historic drillholes MBO-5, MBO-18, MBO-19, and MBO-21. Drill hole MB21008 intercepted shearing and brecciation in both paragneiss and pegmatite with 5% blebby/vug-filling pyrrhotite, 2% pyrite, and 0.5% sphalerite, while MB21009 intercepted less extensive 1% pyrite and 0.25% pyrrhotite. Assay results from drillhole MB21008 returned 7.60g/t Ag, 1.44g/t Au, 0.07% Pb, and 0.32% Zn over 5.95m from 53.95m to 59.9m and 8.30g/t Ag, 0.56g/t Au, 0.17% Pb, and 0.29% Zn over 6.25m from 66.00m to 72.25m. assay results from drill hole MB21009 returned 3.80g/t Ag, 0.41g/t Au, 0.03% Pb, and 0.28% Zn over 4.57m from 101.56m to 106.13m.
Drill holes MB21010 and MB21011 targeted previously undrilled conductors 300m and 700m respectively to the SE of historic drilling at the Manson Bay Gold Zone. Both holes intercepted zones of shearing with up to 3% disseminated-stringer pyrrhotite/pyrite and graphite alteration. Neither hole returned significant intervals of gold mineralization.
Drill hole MB21012 was designed as a ~50m down-dip, step-back from historic hole MBO-44. This hole intercepted a mineralized shear zone with 3% interstitial pyrrhotite, 2% interstitial pyrite, and trace sphalerite. Assay results from this hole returned 5.77g/t Ag, 0.74g/t Au, 0.06% Pb, and 0.45% Zn over 14.42m from 148.00m to 162.42m, including 4.46g/t Ag, 2.35g/t Au, 0.02% Pb, and 0.20% Zn over 1.48m from 159.00m to 160.48m.
Manson Bay Gold Zone Details
The mineral occurrence located on the Manson Bay Property referred to as the Manson Bay Gold Zone is documented in the Saskatchewan Mineral Deposit Index (“SMDI”) as occurrence #2280. Staking and exploration on the Manson Bay and Manson Bay South properties dates back to 1953. Kay Lake Mines Ltd. acquired the property in 1955 and conducted an electromagnetic survey in 1955, and in 1956 followed up with a diamond drill program to test the anomalies along the northeast shore of Manson Bay. Hudson Bay Exploration optioned the property in 1983 and completed 3 drill holes. Drill holes MBO-1 and 2 intersected the mineralization described by this showing. Discovery drill hole MBO-1 encountered an 0.8 ft intersection that returned 0.04 oz./ton Au, 4.38 oz./ton Ag, 5.81% Cu and 0.60% Zn. Between 1987 and 1988, Mingold Resources Limited completed a further 43 drill holes (MBO-4 to MBO-46) to outline a gold-copper rich zone of mineralization.
Geologically, the area straddles the transition zone between the highly metamorphosed (upper amphibolite facies) Amisk Group interlayered volcanics and metasediments to the south and the Kisseynew gneiss belt derived wackes (garnetiferous quartz-feldspar-biotite-hornblende gneiss, quartz-feldspar- hornblende-garnet± biotite gneiss, biotite migmatite, and sericitic quartz- feldspar-biotite schist) to the north and to the east. Pegmatite and calc-silicate gneiss are found in almost all drill holes.
Structurally, the showing area occupies the core of the Schotts Lake anticline. The host rocks have a northeast strike and dip 20°to 30°SE. Lineations indicate a plunge of 21° to 40°NE.
The Manson Bay Gold Zone showing consists of a silicified horizon within a northeast-trending shear zone. Mineralization has been traced over a strike length of 2400 ft (731.5 m) within this silicified shear zone. The mineralized horizon is a quartz-rich gneiss that contains hornblende-feldspar-biotite and locally chlorite and tourmaline crystals. Minerals present include trace to 15% pyrite, trace to 20% pyrrhotite, up to 10% graphite, trace to 12% chalcopyrite, trace to 10% sphalerite, trace galena and associated gold mineralization.
Delineation drilling, at 100 to 200 ft (30.5 to 61.0 m) centers, has outlined an area approximately 300 ft by 500 ft (91.4 m by 152.4 m) where an average 12 ft 3.65 m) width grades between 0.092 and 0.679 oz./ton Au (11 intersections). Other zones of less significant Cu-Au mineralization have been located along strike.
The above results were summarized from the SMDI descriptions and assessment reports filed with the Saskatchewan government. SKRR cautions that 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 at the Manson Bay Project. Further work (including drilling) is required by SKRR in order to verify the historical work on the Manson Bay Project. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Samples were sent for geochemical analysis with ALS Global, Vancouver, B.C. for the following analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 50 g Fire Assay – AA finish (Au-AA24). Samples that returned over 5ppm Au by Au-AA24 were re-analysed using gold (Au) 50g Fire Assay – Gravimetric finish (Au-GRA22). Samples that returned over-detection limit for Pb and Zn by ME-MS61 were re-analysed using four-acid ICP-AES (ME-OG62).
On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Manson Bay Drilling Program included certified reference material (“CRMs”) and blanks that were inserted into each sample batch in order to verify the analytical from the lab. ALS labs is an independent certified laboratory and is independent of the Company and the Qualified Person. The Company detected no significant QA/QC issues during review of the data. The Company is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.
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 (unless indicated otherwise) 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
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 additional drilling and work expected to be completed in 2022, and the expected outcomes, 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, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks 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, failure to secure personnel and equipment for work programs, adverse weather and climate 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, decrease in the price of gold and other metals, 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.