News Release – Vancouver, British Columbia – February 26, 2021:SKRR Exploration Inc. (TSXV: SKRR; OTC: SKKRF; FSE: B04Q) (“SKRR” or the “Company”) is pleased to announce that it will be presenting at the Virtual Metals Investor Forum on March 4-5, 2021.
Interested parties that wish to schedule a meeting, or who would like further information regarding the conference noted above, please contact SKRR at the contact information below.
Sherman Dahl, chief executive officer of SKRR, comments: “Management is very excited about the early drill results from the Leland Gold property of our 2021 drill program and are looking forward to maximizing our success with the remainder of the programs. It is extremely exciting exploring in Saskatchewan, the No. 1 mining jurisdiction in the world according to Mining Journal Intelligence World Risk Report 2020, where we are confident that the Trans Hudson Corridor has the potential to become one of the world’s prolific gold producing regions.”
The Company also completed a 9-hole drill program in 1,341m at its Irving-Leland property (the “Irving-Leland Property”), in the Trans Hudson Corridor, Saskatchewan. Variable widths of quartz veining and sulphide mineralization were intersected in all holes with visual results of the first 3 holes previously reported (see News Release February 10, 2021). Drill core is being logged and prepared for sampling and assay results are pending.
2021 Drill Program
The 2021 winter drill program focused 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 were prioritized based on surface rock grab and trenching results, soil geochemistry and detailed airborne (drone) magnetic survey data.
The nine hole program 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 nine 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.
Figure 1 – Le21008 Irving-Leland Property Project Map
Photo 2 – Le21008 Irving-Leland Property Core Image
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. Mr. McElroy verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.
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
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 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.