VANCOUVER, BC, March 16, 2022 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) ("SKRR" or the "Company") is pleased to announce the start of an airborne magnetic survey at SKRR's 100% owned Irving Lake Project in east-central Saskatchewan (Figure 1), The Irving Project (the "Project") is located ~100km northeast of the town of La Ronge and is located within 10km to 20km of SSR Mining's very successful Seabee and Santoy mines, which is Saskatchewan's largest gold mining operation.
The presence of amphibolite-grade meta-volcanic and associated meta-intrusive rocks hosting well-defined shear zones are considered positive indicators for the presence of orogenic gold deposits at Irving Lake. The host rocks and structural framework are similar to gold deposits in the region such as the nearby Seabee and Santoy deposits and the highly prospective Fisher project. This prospective geology is considered to be underexplored on the property.
SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Irving Lake Property.
Sherman Dahl, Chief Executive Officer of SKRR comments:
"We are excited to have commenced the airborne survey over the Irving Lake project area to identify and prioritize gold targets. This is a proven geophysical method for identifying structural, lithological and alteration features often associated with orogenic gold mineralization and aims to assist in prioritizing drill targets. With our recent and ongoing drilling success, we are confident of the potential for further significant discoveries in the Saskatchewan Trans Hudson Corridor"
Program Details
Precision GeoSurveys Inc has been contracted to fly a 4,288 line-km detailed magnetic helicopter-borne geophysical survey over the Irving Project (Figure 2) with flight lines spaced at 75m. The survey will be flown in a low-level systematic grid pattern over the property with lines oriented north/south. The survey, which has commenced, will help to identify rock types and geological features including fault structures and alteration zones associated with gold mineralization. It will also help direct work by field crews during future exploration programs.
The Project
The Irving Project is a gold exploration property located in east-central Saskatchewan, about 100km northeast of the La Ronge, Saskatchewan. It is comprised of 24 mineral claims totalling 19,795.56ha.
The project has many key geological features required for hosting large high-grade gold deposits like Seabee and Santoy, including favourable geology, large scale structural shear zones, localized flexures and faults and numerous mineralized showings.
Qualified Person
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 Disclosurefor 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
Sherman Dahl
President & CEO
Tel: 250-558-8340
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.
Forward-Looking Information
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 geophysical surveys on the Irving Project and the expected outcomes, follow up exploration work on the Irving Project, 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, the interpretation of technical and scientific data, risks related to the inherent uncertainty of exploration and development and cost estimates and the potential for unexpected costs and expenses and including those 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, adverse weather or climate conditions, decrease in the price of gold and other metals, equipment failures or failure to obtain the necessary equipment, 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.
SOURCE SKRR EXPLORATION INC.
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