VANCOUVER, BC, Jan. 17,
2023 /CNW/ - SKRR Exploration Inc. (TSXV:
SKRR) (OTC Pink: KKRF) (FSE: B04Q) ("SKRR" or the
"Company") is pleased to announce SKRR has entered into an
agreement with Investing News Network ("INN"), pursuant to
which INN will launch a series of advertising and investor
awareness campaign events for the company for 12 months starting
from January 16, 2023. In
consideration for its services, the Company will pay $40,000 (plus GST) cash on or before January 16, 2023. INN is a private company
headquartered in Vancouver,
Canada, dedicated to providing independent news and
education to investors since 2007. INN does not provide investor
relations or market making services.
SKRR's CEO, Sherman Dahl and
Chairman Ross McElroy speak to
Red Cloud about exploration assets
in Saskatchewan and highlight
exciting new nickel assets:
https://www.youtube.com/watch?v=Si7M84THKEI
SKRR CORPORATE
UPDATE:
SKRR Exploration Inc. has a large and diversified portfolio of
highly prospective early-stage precious metals and strategic base
metals, including nickel, cobalt and zinc. The Company presently
operates 9 separate projects, totaling 72,478 ha., including 8 in
the province of Saskatchewan and 1
in the province of British Columbia. In Saskatchewan, 5
projects are primarily focused on gold (Olson, Ithingo, Olson,
Manson Bay and Cathro), 2 projects are primarily focused on nickel
and cobalt (Father Lake and Carp River) and 1 project focused on
zinc and silver (Borys Lake). In
British Columbia, SKRR operates
the Nickel Peak claim group located in the FPX Metals "Decar
Camp".
2022 Exploration Recap
In 2022, the Company was actively exploring on several of its
Saskatchewan projects.
January – February
2022 – The Company completed a 10-hole,
1867m drill program at its Olson
property. Nine of the ten holes intersected significant gold
mineralization in 4 separate target areas, including the Olson,
Akbar, Michaels Lake and Carina areas. Drilling at Michaels
Lake resulted in a new discovery with hole OL22009 intersecting a
very wide continuous interval yielding 0.56 g/t Au over
50.35m.
March 2022 –
The company completed a 4,288 line-km airborne magnetic survey at
75m line spacing on the southern core
part of its Irving Lake property. A further 565 line-km of
airborne magnetic survey at 75m line
spacing was flown on the northern Bailey and Easton areas of the Irving Lake
property.
April 2022 –
The company completed a 1,042 line-km airborne magnetic survey at
50m line spacing on its Father Lake
project. The magnetic field consists of a series of high and low
trends parallel to the Grease River fault which demarcates the
Dodge Domain (north side) and Tantato Domain (south side). The
magnetic solutions highlight the contacts along the hybrid gneiss
complex (interlayered felsic gneiss, mafic gneiss and
metasediments) on the south side of the Grease River shear zone. A
major NW-SE structural feature is observed which also offsets known
VTEM conductors in the area. (The Dumas Lake fault). The
nickel host rock is a 200m to
800m wide norite body that can be
traced for 16km trending east northeast with numerous nickel and
copper showings along trend. The previous Strongbow Exploration
Inc.'s Nickel Lake / Dumas Lake project covers several historic
nickel and copper showings including: the Dumas Zones A, B, C &
D. The norite host rock appears defined by a magnetic high in
conjunction with VTEM conductors.
June 2022 - In
June 2022 a geological mapping and
sampling program was completed on the Cathro Project. Lithological
data was collected from eight locations, along with 47 rock
samples. Additionally, 430 soil samples were collected from 15
east-west trending soil lines, with samples spaced 25 m apart. Soil samples returned gold
values ranging from 0.1 to 320 ppb Au. The most significant
values were obtained between 230m to
1200m north-northwest of the Vidgy
zone. Of the 47 rock samples collected, the highest gold
(2,490 ppb), silver (4.59 ppm) and copper (5,400 ppb) were returned
from sample MHCTR009, which sampled a granodioritic unit cross-cut
by a 2-5cm wide quartz vein near the Bartlett Lake showing.
Overall results show a number of anomalous areas in several areas
of the property, and further follow-up work of mapping and
sampling, followed by drilling is recommended.
A Focus on Nickel for 2023
SKRR Exploration Inc. has entered into a non-arm's-length
acquisition agreement dated Oct. 24,
2022, to acquire a 100-per-cent interest in Edge Geological
Consulting Inc.'s Carp River nickel-copper-cobalt property
consisting of five mineral claims comprising a total of 5,606.48
hectares.
Project Highlights:
Located in mineral-rich Saskatchewan, a world-class mining
jurisdiction, immediately north of the town of Stony Rapids, The Carp River Nickel-Copper
property is situated within the similar regional bedrock lithology
associated with the nearby Axis Lake and Rea Lake Ni-Cu-Co deposits
and Currie Lake occurrences of ALX's Firebird property, on which
Rio Tinto has an option agreement to earn 80 per cent.
Numerous nickel, copper and cobalt showings along trend,
including the Carp River and Bet claims and McAskill showings
associated with multiple moderate- to high-priority interpreted
VTEM (versatile time domain electromagnetic) anomalies.
Historic soil grid survey exploration on the Carp River grid in
2005 determined that Ni, Cu and Co anomalies were significant and
comparable with those associated with the Axis Lake and Currie Lake
occurrences located five kilometres and 10 kilometres to the west,
respectively.
Sherman Dahl, SKRR
Exploration's chief executive officer, commented:
"SKRR continues to build shareholder value by
thinking outside the box. Over the last six months, we have
expanded our property portfolio with a focus on battery metals in
both Northern Saskatchewan and
British Columbia. Over the next
few months, we are further committed to unlocking the value of our
portfolio of gold and battery metal assets. We are extremely
excited to acquire the Carp River nickel-copper-cobalt property and
add to our expanding portfolio of assets in one of the world's
premier mining jurisdictions."
The Carp River nickel-copper
property details
The Carp River property, composed of five contiguous mineral
claims totalling 5,606.48 hectares, is located immediately north of
the hamlet of Stony Rapids in the
province of Saskatchewan.
Stony Rapids is a full-service
community with a commercial airport. Access to the property is
through fixed-wing or helicopter aircraft. From a regional
perspective, the property lies within the Tantato domain, which
makes up part of the significant Snowbird tectonic zone.
Regionally, bedrock consists primarily of mafic granulite and
garnet-pyroxene diatexite formations, which extend on strike to the
west toward the Axis Lake and Rea Lake Ni-Cu-Co deposits and the
Currie Lake occurrences located within five km to 10 km to the west
of Carp River.
Historic exploration by Red
Dragon and Pure Nickel Inc. in 2005 included a regional
airborne VTEM geophysics survey, which covered the known Axis Lake,
Rea Lake, Currie Lake and other
showings. Interpretation of the 2005 VTEM survey picked numerous
highly rated VTEM anomalies over the Carp River property. Follow-up
soil grid surveys were conducted over areas where they determined
that the conductors looked prospective. Red
Dragon and Pure Nickel determined that the Ni-Cu-Co
anomalies became more intense close to nickeliferous norite bodies.
One of those grids surveyed was the Carp River grid, located in the
middle of the Carp River property, where soil results were
significant and comparable with those around the Axis Lake and
Currie Lake occurrences.
SKRR Exploration cautions that some of the historical results
were collected and reported by past operators, and have been
neither verified nor confirmed by a qualified person, but form a
basis for future work on the Carp River property. Mineralization
hosted on nearby properties is not necessarily indicative of
mineralization that may be hosted on the Carp River property.
Update on Father Lake Nickel
airborne geophysics survey
A high-resolution helicopter-borne magnetic survey was carried
out by Precision GeoSurveys Inc. between April 2 to April 6, 2022 (see news release dated
March 22, 2022). The survey collected
1,042 line km of high-resolution magnetic data over one survey
block. The entire property was covered with the magnetic survey.
Interpretation of the geophysics survey was completed by Bingham
Geoscience.
The magnetic field consists of a series of high and low trends
parallel to the Grease River fault, which demarcate the Dodge
domain (north side) and the Tantato domain (south side). The
magnetic solutions highlight the contacts along the hybrid gneiss
complex (interlayered felsic gneiss, mafic gneiss and
metasediments) on the south side of the Grease River shear zone. A
major northwest-southeast structural feature is observed, which
also offsets known VTEM conductors in the area (The Dumas Lake
fault).
The nickel host rock is a 200-metre-to-800-metre-wide norite
body that can be traced for 16 km trending east-northeast with
numerous nickel and copper showings along trend. The project covers
several historic nickel and copper showings, including: the Dumas
zones A, B, C and D. The norite host rock appears defined by a
magnetic high in conjunction with historic interpreted VTEM
conductors.
The VTEM covers the west side of the project, and an older
MegaTEM survey covers the entire project. However, the MegaTEM does
not seem to resolve conductors well. There is at least one small
area with a strong conductor on the east portion of the property.
Coverage of the east portion of the property with VTEM may be a
future option.
SKRR's Nickel Peak Claim Group
Overview
SKRR Exploration Inc. has also expanded its 100-per-cent-owned
Nickel Peak claim group to cover additional areas of interest over
the Creek complex-Trembleur ultramafite unit Late Pennsylvanian to
Late Triassic ultramafic rocks, contiguous to FPX Nickel Corp.
The Nickel Peak 1 and Nickel Peak 2 claim blocks now include the
Nickel Peak North and Nickel Peak West (which were recently staked
by SKRR) and are located to the north of FPX Nickel's Decar nickel
project, an advanced project targeting awaruite, a nickel-iron
alloy mineral, hosted by serpentinized ultramafic intrusive rocks
of the Trembleur ultramafic unit. SKRR cautions that past results
or discoveries on proximate land are not necessarily indicative of
the results that may be achieved on the Nickel Peak group.
SKRR's expanded Nickel Peak Group now spans 8,425 acres (3,410
hectares) and is approximately 110 kilometres northwest of
Fort St. James, B.C., in the
Omineca mining district. Metallic mineralization includes nickel,
cobalt and chromium with the documented presence of awaruite.
Assays by Acme Analytical Laboratories Ltd. in 2005 returned up to
1,826 parts per million (ppm); 1,734 ppm nickel with 1,113 ppm
chromium. SKRR 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 future work at the
Nickel Peak group. Further work (including sampling) is required by
SKRR in order to verify the historical work on the Nickel Peak
group.
Sample results from an isolated mag anomaly on the SKRR's Nickel
Peak 1 claim block documented the presence of awaruite and returned
up to 1,240 ppm nickel in 2008 (master identification (ID):
093N081399) and up to 771.4 ppm nickel in 1983 (master ID:
093N833085) contiguous to the east side Nickel Rock Resources Inc.
and Surge Battery Metals's Nickel 100 group.
Sherman
Dahl, chief executive officer of SKRR,
states:
"We are excited to begin exploration on the newly expanded
Nickel Peak group this 2023 season. Recent spikes in demand for
nickel is fuelled by the meteoric rise in electric vehicles and the
need for this important metal in the manufacturing of batteries
that power them. Nickel prices have risen sharply this year with a
massive 250-per-cent spike in early March of 2022, forecasts call
for continued rise in Nickel demand with more and more electric
vehicles and battery powered devices coming to market."
"The acquisition and subsequent expansion of our Nickel Peak
group of claims represents yet another example SKRR's continued
mission to build a world-class base and precious metal company and
promise to drive value for shareholders. These Nickel Peak claims
are situated in an active world-class nickel camp and represent
tremendous blue-sky potential with multiple historic high-grade
nickel samples and assays that have been underexplored until now.
SKRR will be a leader with a diversified portfolio of high-quality
long-life assets. The SKRR team has done an incredible job over the
last few years of drilling, exploring, discovering and positioning
the company for success."
These highly prospective Nickel Peak Group claims are contiguous
to the east of Surge Battery Metal and Nickel Rock Resources's
Nickel 100 group that cover 18 British Columbian Minfile chromite
occurrences, some of which are reported to be mineralized with
nickel, platinum-palladium group and other rare, highly valuable
elements. SKRR cautions that past results or discoveries on
proximate land are not necessarily indicative of the results that
may be achieved on the Nickel Peak group.
Nickel-cobalt mineralization has not been well-explored, but the
presence of awaruite has been documented. Geologist Ursula Mowat completed a preliminary fieldwork
program over the area of the Nickel 100 claim group in 2004, and
confirmed the presence of elevated nickel, cobalt and chromium
values in rocks and stream sediments. Ms. Mowat is the recipient of
the 2015 H.H. Spud Huestis Award for excellence in prospecting and
mineral exploration granted by the Association of Mineral
Exploration (AME) in B.C. AME B.C. is both a large and successful
industry association representing the mineral exploration industry
in B.C.
Nickel Peak group -- property
highlights:
World-class jurisdiction: B.C.'s Omineca mining division is host
to multiple world-class mining projects, including the nearby Decar
nickel project of FPX Nickel, an advanced project targeting
awaruite, a nickel-iron alloy mineral, hosted by serpentinized
ultramafic intrusive rocks of the Trembleur ultramafic unit;
High-grade historic nickel assays and sampling: Assays by Acme
Analytical Laboratories in 2005 returned up to 1,826 ppm; 1,734 ppm
nickel with 1,113 ppm chromium. Sample results from an isolated mag
anomaly on the SKRR's Nickel Peak 1 claim block documented the
presence of awaruite and returned both up to 1,240 ppm nickel in
2008 and up to 771.4 ppm nickel in 1983.
Strong blue-sky potential: Documented presence of awaruite,
high-grade historic nickel sampling and assays in an underexplored
area of an active nickel camp.
Qualified Person
The scientific and technical information contained in this news
release has been reviewed and approved by Ross McElroy P.Geo, 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. SKRR
cautions that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on
SKRR's properties.
About SKRR Exploration
Inc.
SKRR Exploration is a Canadian-based exploration company focused
on precious metals as well as battery metals such as Nickel,
Cobalt, and Zinc. Its properties are located in Saskatchewan -- one of the world's
highest-ranked mining jurisdictions as well as British Columbia. In Saskatchewan, the primary exploration focus is
within and peripheral to the Trans-Hudson Corridor in search of
world-class deposits. The Trans-Hudson orogen – a major geological
feature and associated with multiple giant orebodies and mining
districts -- has been significantly underexplored in Saskatchewan. SKRR Exploration 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 plans
to advance the projects and expectations, 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, 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.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, failure to secure personnel and equipment for work
programs, adverse weather and climate conditions, 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, decrease in the price
of gold, base metals and other metals, 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.