VANCOUVER, BC, Oct. 14,
2020 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (OTC:
SKKRF) (FSE: B04Q) ("SKRR" or the "Company") is
pleased to report intersections of arsenopyrite bearing sulphides
and disseminated arsenopyrite and quartz veining in the
current and ongoing drill program at the Olson property in the
Trans Hudson Corridor, Saskatchewan.
Sherman Dahl, Chief Executive
Officer of SKRR comments:
"The visual indications of mineralization for which assays
are pending, are encouraging."
The drill program at the Olson property is advancing well. To
date a total of 7 holes totaling 968m
have been completed on 3 separate target areas; Jena/Juba, Point
and Tuscan.
- Jena/Juba – Twenty surface samples from outcrops taken earlier
this summer returned values >1000 ppb Au, with a maximum of 15.7
g/t Au from quartz arsenopyrite veins (see News Release
June 02, 2020). One hole (OL20001)
tested beneath the Juba arsenopyrite-bearing trenches. Two
holes (OL20002 and OL0003) tested the south Jena area to test a
significant IP chargeability anomaly with coincident with the
northwest dipping contact between a feldspar porphyry to the east
and meta-sediments to the west.
-
- OL20001 was an angle hole, drilled to the SE and completed to a
depth of 116m. The hole tested
a coincident conductive IP geophysics anomaly associated with
arsenopyrite bearing metasedimentary rocks in surface
trenches. Formational pyrite and graphite were encountered in
the hole and likely accounted for the IP anomaly. No obvious
mineralization was encountered.
- OL20002 was an angle hole oriented to the west and completed to
a depth of 152m. The hole
collared in granodiorite and intersected a sedimentary contact at
76.6m. Intermittent intervals of
quartz and sulphide (pyrite, arsenopyrite +/- chalcopyrite)
mineralized zones were encountered between 67m to 76.6m. The
hole continued in sedimentary schist until 103.6m then back into intrusive rocks
(porphyritic monzonite) to 116m. Well
developed quartz and sulphide mineralization was encountered from
114m to 116.14m with 3-10% arsenopyrite both disseminated
and in massive blebs.
- OL20003 was an angle hole collared from the same set-up as
OL2002 but at 23 degree azimuth change to the south. The hole
collared in granodiorite, encountered a single sedimentary contact,
which had some notable arsenopyrite occurrence, but not the
intensity of mineralization as in the previous hole.
- Point – Three angle drill holes (OL20004, OL20005 and OL20006)
tested the Point target where earlier field work this summer
identified anomalous soil geochemistry (80 ppb to 2704.6 ppb Au)
and prospecting returned assays up to 9.8 g/t Au. All three
holes were collared in granodiorite, and were designed to test for
mineralization associated with an interpreted meta-sedimentary
contact projected to be encountered around ~230m depth.
-
- OL20004 was an angle hole oriented to the west and designed to
test a projected sediment contact around 230m, beneath Michael
Lake. The hole was collared in granodiorite and encountered
sediments at only 27m depth. Multiple
pods of intrusive rock were present to 91m. Arsenopyrite was encountered in every unit
from top to bottom of this hole with the strongest occurrences in
the upper 40m of Granodiorite,
present in disseminated and massive blebs. Significant arsenopyrite
(up to 3% disseminated and massive blebs) was also present within
the fine grained meta-pelitic sediments associated with numerous
narrow quartz-chlorite veins, particularly abundant between
114m to 141m. From 146m to
151m strong arsenopyrite (2-5%) was
present within foliated sediments.
- OL20005 was an angle hole collared from the same set-up as
OL20004, but at 60 degree azimuth change to the south. The hole
collared in granodiorite which continued to 20.2m, after which the sediment contact was
encountered. The hole remained in sediments to the end of hole at
80m. Abundant disseminated
arsenopyrite was encountered in the top 26m of the hole within granodiorite and dropped
off rapidly after 26m.
- OL20006 was an angle hole drilled to the south. The hole was
designed to test a series of stacked mineralized shears within
granodiorite where surface rock samples returned up to 3 g/t Au.
The hole intersected granodiorite from top to bottom. Trace
sulphides were present throughout, but 2 shear zones with narrow
quartz-chlorite veins stand out with mineralization of 1-5%
arsenopyrite; 32.2m to 62m and 95m to
105m.
- Tuscan – drilling at Tuscan is designed to test the east west
intrusive contacts observed at the Tuscan surface showing. Field
work from the earlier summer program included prospecting at
Tuscan, where assay results returned peaks up to 45.1 g/t Au.
-
- OL20007 was an angle hole drilled to the south and completed to
a depth of 137m. The hole collared in
granodiorite and intersected the contact with sedimentary rocks at
96.65m. A second granodiorite was
intersected at 120.75m. Promising
mineralization was encountered in 2 distinct zones of sulphide
mineralization (100.5m to
105.8m and 112.85m to 115.55m)
with the most significant being the interval from 112.85m to 115.55m
which contained semi-massive to massive sulphide mineralization
with up to 40% pyrite and 15% arsenopyrite.
Table 1: Drill Hole Summary
|
|
Collar
|
|
Hole
ID
|
Zone
|
Azimuth
|
Dip
|
Total
Depth
(m)
|
OL20001
|
Juba
|
135
|
-45
|
116
|
OL20002
|
Jena
|
310
|
-45
|
152
|
OL20003
|
Jena
|
287
|
-45
|
137
|
OL20004
|
Point
|
280
|
-45
|
209
|
OL20005
|
Point
|
220
|
-50
|
80
|
OL20006
|
Point
|
180
|
-50
|
137
|
OL20007
|
Tuscan
|
190
|
-45
|
137
|
Total
|
|
968m
|
Samples from all seven (7) drill holes have been delivered to
the laboratory and assay results are pending.
A variety of core photos are now available www.skrr.ca.
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 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
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 drilling on the Olson property, receipt of assays, 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.
SOURCE SKRR Exploration Inc.