VANCOUVER, BC, June 18, 2024 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) ("SKRR" or the "Company") is pleased to announce its plan to commence a drill program of approximately five (5) exploration core drillholes as well as ground gravity and Time Domain EM geophysical surveys at the 'Clearwater West Project' located in Saskatchewan. This work program is expected to commence in July 2024. The exploration permits to carry out the work have been received from the Ministry of Environment of Saskatchewan. SKRR has an option to acquire up to a 70% interest in the Clearwater West Project from F3 Uranium Corp. (TSXV: FUU) ("F3"). The Clearwater West Project is an early-stage exploration project prospective for uranium mineralization. The uranium mineralization model for the Clearwater West property is basement hosted and structurally controlled Athabasca Basin unconformity related deposits.
Only three shallow drillholes were previously completed on the property (see F3's news release dated August 4, 2023) in 2015 and encountered graphitic shear zones. Drilling this summer will consist of follow up drilling of the 2015 holes as well as first pass drilling targeting ground Time Domain electromagnetic and IP resistivity anomalies on areas of increased conductivity along untested airborne EM conductors on the east side of the property.
The western part of the property has untested conductors that are sub-parallel to the Patterson Lake corridor which hosts Fission Uranium's Triple R uranium deposit and NexGen's Arrow uranium deposit located 13 km to the north and 17 km to the north respectively. Ground gravity and Time Domain EM surveys will also be completed this summer in the west part of the property, covering distinct conductive areas defined by the 2014 VTEM survey, to develop and define distinct drill targets for future testing.
Summary of the Clearwater West Property
The Clearwater West Project is comprised of 3 contiguous mineral claims totaling approximately 11,786 hectares and is located ~20km outside the edge and in the south-west area of the Athabasca Basin in Saskatchewan. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Clearwater West Project.
Basement hosted Athabasca unconformity related deposits often feature unique characteristics that can be identified by various geophysical surveys. A VTEM survey flown over the property in early 2014 defined electromagnetic (EM) conductors, some of which are interpreted to be possible extensions of the EM conductors identified on the PLS property immediately to the north.
F3's experienced and successful management and technical team, with a track record of three major high-grade uranium discoveries in the Athabasca Basin region since 2010 (Waterbury Lake project J Zone, PLS Triple R deposit and most recently the PLN JR Zone) will operate and manage Clearwater West.
Qualified Person
The scientific and technical contents of this news release have been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and have been reviewed and approved by Michelle McKeough, M.Sc., P.Geo., President of Terralogic Exploration Inc., a Qualified Person. Ms. McKeough has verified the data disclosed. The information provides an indication of the exploration potential of the Clearwater West Project but may not be representative of expected results.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base metal explorer with properties in Saskatchewan – some 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 uranium, precious, and base 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 relating to the planned drill program at the Clearwater West project (including the size and timing of the work program) and the expected completion of geophysical work, statements relating to the technical, financial and business prospects of the Company, its projects, its goals 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.sedarplus.ca. 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 obtain or maintain all necessary government permits, approvals and authorizations, decrease in the price of gold, copper, uranium and other metals, failure to obtain or 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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