VANCOUVER, BC, Jan. 27, 2022 /CNW/ - Eagle Plains Resources
Ltd. (TSXV: EPL) ("Eagle Plains") and SKRR
Exploration Inc. (TSXV: SKRR) (FSE: B04Q) are pleased to
announce that crews and equipment have been mobilized to EPL's
100%-owned Olson property (the "Property") to
commence a 10-hole, 1850m (6000')
diamond drilling program. SKRR may earn up to a 75% interest in the
Property over three years. The Property area covers 5,712 ha
located within the Trans Hudson Corridor 100 km east of
La Ronge, Saskatchewan and 80km
south of SSR Mining's Seabee Gold Operation.
2022 Drill Program
The current program will follow up on results from the EPL/SKRR
18-hole, 2981 m (9778') drill program
completed in Fall 2020 and the 12-hole, 1674m (5492') drill program completed in Winter
2021. The 2020/21 programs were successful in defining significant
gold mineralization at known but underexplored target areas as well
as identifying new mineralized zones at the previously undrilled
Michaels Lake and Ackbar Target Areas (see SKRR's
News Releases dated February 4, 2021,
and March 25, 2021 and
May 6, 2021). The current 10-hole,
1850m (6000') 2022 drill program is
designed to further test gold mineralization at the Olson,
Ackbar Lake, Carina and
Michael's Lake Zones.
See Olson regional
map here:
https://skrr.ca/projects/olson/
2022 Target Areas:
Olson:
Drilling at the Olson Target Area is designed
to complete a series of step-out drill holes along strike and along
dip from previous mineralized intersections at the Olson Zone.
Previous highlights include:
- OL20017: 19.94 @1.19 g/t Au (130.46-150.40m), including
-
- 1.23 @ 9.64 g/t Au (140.65-141.88m)
- OL21025: 13.1m @ 0.89 g/t
Au (32.22m – 45.32m),
- OL21026: 29.44m @ 1.30 g/t
Au (105.04m – 134.48m), including
-
- 0.78m @ 14.55 g/t
Au (126.45m – 127.23m)
Ackbar Lake:
Drilling
at the Ackbar Lake area is designed to test a broad magnetic
anomaly positioned perpendicular to known shears. Soil geochemistry
surveys from the area returned highly anomalous Au-in-soil results
that correlate well with mapped geology.
Previous highlights include:
- OL21029: 8.12 m @ 0.75 g/t
Au (98.00-106.12m),
including:
-
- 1.40m @ 2.39 g/t Au
(101.75-103.20m)
Michaels Lake:
The Michaels Lake Target has been
tested by two drill holes completed in 2020 and 2021. The holes
were unsuccessful in intersecting the contact between Brownell Lake
Group metasediments and the Brownell Lake Pluton. This favourable
contact is known to host broad zones of anomalous gold
mineralization at the Point showing to the south. The 2022 program
is designed to adequately test the stratigraphic contact and
correlating geophysical IP conductivity anomaly.
Previous
highlights from Michaels Lake include:
- OL20018: 6.46m @ 0.77g/t
Au (158.00-164.46m),
including
-
- 1.12m @ 2.85 g/t
Au (161.97-163.09m).
Carina:
The Carina target was last drilled in 1987.
Historic drill results show significant gold concentrations at the
contact between and overlying metasedimentary and underlying
metabasalt packages. The 2022 program is designed to test
strike-length continuity of historic intersections.
Historic highlights from the Carina target area
include:
- DDH 87-3: 5.77m @ 1.52 g/t
Au (38.41-44.18m)
- DDH 87-10: 6.64m @ 1.92 g/t
Au (46.65-53.29m), including
-
- 3.51m @ 3.04 g/t
Au (47.56-51.07m)
Some of the above results and information were taken directly
from historic assessment reports filed with the Saskatchewan
Government. Management 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 in the Olson Property
area.
See Olson maps and drill
collar locations here:
https://skrr.ca/eagle-plains-skrr-announce-2022-winter-drilling-program-at-olson-gold-project-saskatchewan/
Tim Termuende, P.Geo., President
and CEO of Eagle Plains commented recently on the results: "We
are extremely encouraged by results obtained from SKRR's most
aggressive exploration to date. The presence of significant gold
mineralization in numerous areas of the Olson property speaks to
the high overall exploration potential of the property and its rich
mineral endowment. We look optimistically forward to
results from this latest round of drilling activity."
Sherman
Dahl, CEO, SKRR Exploration stated: "As we begin our
2022 drill program at Olson, it is clear that the well-known Trans
Hudson Corridor mining district still contains zones of substantial
high-grade mineralization. Based on the drilling we completed in
2021 and subsequent surface exploration which is now ongoing, it is
our belief that we are only just beginning to scratch the surface
here and extensive further work will be required before we can
begin to understand the scale of the mineralized zones at The Olson
Gold Project."
Olson Project Summary
The Olson project area overlies regionally sheared, highly
strained meta-volcanic and intrusive rocks which are considered to
be prospective for orogenic gold mineralization. The property is
host to 29 mineral occurrences defined by historical geological
mapping, prospecting, trenching and 4700
m of diamond drilling, with the last drilling reported in
2008. Historical drilling at Olson Lake has intersected
7.5 m grading 2.07 g/t Au including
13.00 g/t Au over 0.65 m, and grab
samples of up to 105.52 g/t Au have been collected at the Kalix
occurrence. 2018-2019 fieldwork completed by Eagle Plains and a
previous partner consisted of a detailed compilation of historical
data, geological mapping, soil geochemical work and prospecting.
The fall 2020 drill program at the Olson intersected
significant gold mineralization including new discoveries at the
previously undrilled Point, Jena and Michael's
Lake Zones, high grade mineralization in a step out hole at the
historic Olson showing and wide intercepts of near surface
mineralization at the Siskin Zone. The project is considered
to be significantly underexplored, with known gold occurrences open
at depth and along strike.
Some results are historical in nature and have not been
confirmed by Eagle Plains/SKRR but are considered to be reliable
and will form a basis for ongoing work.
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 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
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 Olson
Property drill program 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, 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.