VANCOUVER, BC, March 31,
2023 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("SKRR" or the "Company") is pleased to
announce that further to its transaction and news release dated
March 22, 2023, the Company received
2,000,000 common shares of Fathom Nickel Inc.
The Company also announces the acquisition by staking of twelve
(12) graphite mineral claims (the "Kelly Lake Graphite
Claims") located approximately 120 km northeast of the town
of La Ronge, Saskatchewan,
Canada.
The staking was completed following a detailed review of several
publicly available Saskatchewan Government geological databases and
publications. A total of twelve claims were registered, covering a
total area of approximately 10,572.42 hectares.
SKRR's President and CEO, Sherman
Dahl commented:
"The 2,000,000 common shares received by
Fathom Nickel Inc. provides us with continuing exposure to the
Watts Lake property. We are also extremely pleased to have
staked an exciting Graphite project in Saskatchewan. The addition of the Kelly Lake
project adds to our portfolio of projects related to the
ever-evolving battery-related industries in the search for a
'greener' world."
La Ronge, SK is a full service
community with a commercial airport. Provincial transportation
route #102 is 10km to the west of the Property. Access to the
Property is via fixed wing or helicopter aircraft.
From a regional perspective, the property lies within the east
boundary of the Kisseynew Litho-Structural Domain, which
constitutes the largest geologic component of the Trans-Hudson
Orogen in Saskatchewan and
Manitoba. Regionally, the bedrock comprises turbidites and
continental sandstones, both of which are interlayered with rare
volcanic rocks and intruded by plutons.
On a local scale, the Kelly Lake Graphite Claims are underlain
mainly by highly metamorphosed gneisses of various mineralogical
compositions, the three main types being garnet gneiss, plagioclase
quartz gneiss, and pyroxene bearing gneiss. All of these units
contain granitic and pegmatitic sills with associated quartz
veins.
There is scant historic exploration with significant efforts by
White Rock Resources Ltd. / Comox Resources Ltd. in 1986,
consisting of rock and soil sampling, and by Samurai Resources Inc.
in 1987 completing two small detail grids of ground magnetometer
and VLF surveys. Both of these efforts were concentrated on
precious and base metals exploration. Interpretation of a 2012
airborne VLF-EM survey by Canadian Platinum Corp. indicated several
EM anomalies on the Kelly Lake Property that do not have a magnetic
association, which is indicative of graphite mineralization.
Geological reconnaissance of this area by W.G.Q. Johnston (Dept.
of Mineral Resources Saskatchewan) in 1968 concluded 'One of the
most important sources of graphite is from rocks similar to those
in the Kelly Lake Area (Cameron, 1960), in which the mineralization
consists of disseminated graphite flakes oriented parallel to the
foliation of highly metamorphosed mica schists or gneisses cut by
much granite material (pegmatite, aplite, etc.) in highly folded
terrains. This type of deposit is larger, more uniform in grade and
shape, and hence more readily mined. The similarities of the
settings of important graphite-producing areas to the Kelly Lake
Area makes the Kelly Lake Area worthy of investigation for
graphite. The best concentrations of graphite noticed were south of
Kakabigish Lake in the pyroxene-bearing gneisses. These rocks
apparently more closely resemble those of the graphite terrains in
Ceylon (Wadia, 1943) than other
rocks in the Kelly Lake map-area. Graphite zones give
electromagnetic anomalies for both ground and airborne
electromagnetic surveys. Graphite zones containing a higher than
usual amount of graphite were noticed south of Kakabigish Lake near
the west limit of the area and west of the southern extremity of
Brabant Lake.'
SKRR cautions that some of the 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
on the Kelly Lake Graphite Claims. Mineralization hosted
on nearby properties is not necessarily indicative of
mineralization that may be hosted on the Kelly Lake Graphite
Claims.
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.
About SKRR Exploration Inc.:
SKRR is a Canadian-based precious and base metal explorer with
properties in British Columbia and
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 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 that address the Kelly
Lake Graphite Claims, continuing exposure to the Watts Lake
Property, other statements relating to the technical, financial and
business prospects of the Company, its projects and other matters,
and the Company's plans and goals. 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 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.