News Release – Vancouver, British Columbia – October 7, 2020:SKRR Exploration Inc. (TSXV: SKRR; OTC: SKKRF; FSE: B04Q) (“SKRR” or the “Company”) is pleased to announce that its management and advisors recently met with Cal Huntley, the Mayor of Flin Flon. SKRR is actively drilling and exploring close to the Flin Flon area.
“We are extremely excited to have commenced our inaugural drilling program on the highly prospective Olson property,” stated Sherman Dahl, Chief Executive Officer of SKRR. “Our team has a history of identifying world-class discoveries. We look forward to continuing their record in the gold producing Trans Hudson corridor. This drilling campaign follows a very successful fieldwork program in an underexplored property with multiple high-grade gold occurrences.”
The four-week program is being supervised by Jarrod Brown, P.Geo, of Terralogic Exploration Services of Cranbrook, B.C., and will rely extensively on support services and personnel from the town of Deschambault Lake, Saskatchewan. Management of Eagle Plains Resources Ltd. (“Eagle Plains”), and SKRR would like to extend their thanks to the Peter Ballantyne Cree Nation (PBCN) for their open communication and input, and would like to recognize the Saskatchewan Ministry of Environment and its various agencies and contractors for their efforts in keeping this project moving amidst the challenges that COVID-19 has presented.
2020 Drill Targets
The Olson property has seen 4,500 metres of historic diamond drilling in 61 holes with the majority of the drilling in short holes focused on the Olson Lake and Dosco-Siskin zones, with the last drill program completed in 2008. The 2020 drilling will further test historically drilled zones, as well as previously undrilled and underexplored showings based on a current understanding of gold mineralization controls. The drill target modelling is based on a comprehensive integration of historical and recent geophysics and geochemical surveys as well as detailed mapping and sampling work. Numerous drill targets have been generated throughout the 5,835-hectare property, with the current program focused on the central part of the property. Under the terms of the option agreement with Eagle Plains, SKRR may earn-in up to a 75% interest in the Olson property.
Since staking the Olson project in 2017, Eagle Plains has carried out field programs in 2018 and 2020 which have identified new discoveries and refined the understanding of the nature of the gold mineralization. The 2020 phase one field program identified widespread gold mineralization in both soil samples and in rock channel samples (see SKRR’s news releases dated September 29, 2020 and September 10, 2020). In addition, an induced polarization/DC resistivity survey defined a number of target areas coincident with anomalous geochemistry and favourable structural settings. IP resistivity has been used in the past to successfully identify drill targets at the Olson showing area with drill holes targeting a linear high chargeability and low conductivity feature with a magnetic high and flanking EM (electromagnetic) anomalies intersecting near-surface mineralization with grades up to 7.5 m at 2.07 g/t Au (SDMI No. 5093; DDH BL-2). Drilling activity is intended to test three separate target areas.
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 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 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.