SKRR Exploration Inc. ("SKRR" or the "Company") (TSXV: SKRR) (OTC Pink: SKKRF) (FSE: B04Q) is pleased to announce it has received TSX Venture Exchange approval of the previously announced share purchase agreement to acquire all of the issued and outstanding shares of 1364991 BC Ltd., an arm's length private B.C. Company that holds an undivided 100% interest in the Nickel Peak 1 and Nickel Peak 2 claim blocks.
SKRR's 100% owned Nickel Peak claims span 3874.5 acres (1568 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 1826 ppm 1734 ppm Nickel with 1113 ppm Chromium. The good to date of the Nickel Peak claims is October 20, 2022 .
SKRR entered into a share purchase agreement dated as of June 6, 2022 , under which SKRR has purchased all of the issued and outstanding shares of 1364991 BC Ltd., an arm's length private B.C. company that holds an undivided 100% interest in the Nickel Peak 1 and Nickel Peak 2 claim blocks. As consideration for SKRR's purchase of all of the shares of 1364991 B .C. Ltd., SKRR issued three (3) million common shares, on a pro rata basis, to the shareholders of 1364991 B .C. Ltd. All SKRR common shares issued pursuant to the share purchase agreement are subject to a voluntary hold period of four months. The news release dated June 7, 2022 , erroneously referenced that the share purchase agreement and 1364991 B .C. Ltd. were non-arm's length parties (the parties are arm's length). The shareholders (vendors) of 1364991 B .C. Ltd. are: (i) 1274596 B .C. Ltd. ( Robert Nicholas Horsley ), (ii) 1170147 B .C. Ltd. (Hani El Rayess), and (iii) 1335527 B .C. Ltd. ( Daniel Terrett ).
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.
SKRR is a Canadian-based precious 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.
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.
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 Nickel Peak claims, 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 nickel, 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.
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SKRR Exploration Inc. (TSXV:SKRR) is a gold exploration company focused on a collection of properties in the Canadian province of Saskatchewan. The company’s flagship Olson gold project is located in the Trans-Hudson Corridor of Saskatchewan, an area known for its orogenic gold and volcanic-massive sulfide (VMS) style deposits. SKRR Exploration believes the Trans-Hudson Corridor could become Canada’s next leading mining jurisdiction based on its rich geology and relatively under-explored prospects.
SKRR Exploration’s flagship Olson gold project comprises 5,038 hectares in the heart of the Trans-Hudson Corridor. The property was acquired via an option agreement with Eagle Plains Resources. Under the terms of the agreement, SKRR has the option to earn-in up to a 75 percent interest in the property. In addition to its Olson gold project, SKRR Exploration owns a total of five exploration projects located in Saskatchewan’s Trans-Hudson Corridor including Irving/Leland, Ithingo Lake, Cathro and Manson Bay.
The Trans-Hudson Corridor is a large geological region stretching from South Dakota to James Bay that hosts rich mineralization and a number of past-producing and existing precious metals projects. The Trans-Hudson Corridor is home to the Homestake Gold Mine, the Seabee Gold Mine, and a number of modern exploration projects. The Seabee gold mine was acquired by SSR Mining in 2016 after operating between 1991 and 2018 when all mineral reserves on the property were exhausted. The nearby Seabee Mill has been in operation since 1991 and is capable of processing 1,050 tonnes per day.
Members of the SKRR team including Ron Netolitzky and Ross McElroy have spent the majority of their careers exploring the Trans-Hudson Corridor, partially due to Saskatchewan’s mining-friendly policies and exploration potential. At the provincial level, the province of Saskatchewan offers a safe and stable jurisdiction from which to conduct exploration. The province was ranked the 11th-most friendly according to the 2019 Fraser Institute Annual Survey of Mining Companies.
The Trans-Hudson Corridor is a geological region that stretches north from the midwestern United States across Canada up to James Bay. The area was formed by years of volcanic activity that helped create many of the volcanic massive sulfide (VMS) greenstone belts in the area, many of which host precious metals and base metals deposits.
A number of resource and exploration companies have begun focusing on the Trans-Hudson Corridor in recent years including Taiga Gold Corp. (CSE:TGC), SSR Mining (TSX:SSRM), HudBay Minerals (TSX:HBM), Alamos Gold Inc. (TSX:AGI) and SKRR exploration. Taiga Gold, a spin-out of Eagle Plains Resources, has focused its operations within the Trans-Hudson Corridor, specifically the area surrounding the Seabee gold mine.
The Trans-Hudson Corridor hosts a number of active and past mines including the McLellan Gold Mine, the Snow Lake Gold Mine, the Seabee Gold Mine and the Homestake Gold Mine located in South Dakota, which produced over 40 million ounces of gold before it closed in 2002. The rich mineralization and past production found within the Trans-Hudson Corridor have led resource companies including SKRR Exploration to target the area due to its district-scale potential. The region also benefits from existing infrastructure including the Seabee mill, which has been in operation since 1991 with a capacity of 1,050 tonnes per day.
Like British Columbia’s Golden Triangle and Ontario’s Red Lake Gold District, SKRR Exploration believes the Trans-Hudson Corridor has the potential to become Canada’s next major gold district. In addition to its exploration potential, Saskatchewan offers a safe and stable jurisdiction with mining-friendly policies designed to facilitate exploration and development.
SKRR Exploration’s flagship Olson property is located in the center of the Trans Hudson Corridor. Within this corridor, the Olson property is hosted in the Glennie Domain, which is the source of Saskatchewan’s largest orogenic gold deposit, the Seabee gold mine. The Olson project hosts 29 mineral occurrences defined by historical geological mapping, prospecting, trenching and 4700 m of diamond drilling.
Gold mineralization has been identified in several locations throughout the property via surface channel sampling and preliminary drilling. To date, geophysical models have proven to be a reliable source of information in terms of predicting further mineralization on the property. Historical drilling on the property has intersected 7.5m grading 2.07 g/t gold including 13.00 g/t gold over 0.65 m and grab samples of up to 105.52 g/t gold.
In 2018, previous owner Eagle Plains Resources Ltd. (TSXV:EPL) compiled the existing data at the Olson project before beginning a two-phase field program consisting of geological mapping and prospecting for a total of 862 soil samples and 126 rock samples. Fieldwork was also conducted in areas hosting anomalous soil geochemistry, which identified gold mineralization associated with shear-hosted quartz veins. Highlights from this work included 45.1 g/t gold with 20 grab samples returning greater than 1000 ppb gold. The Olson area also returned a maximum of 41.0 g/t gold from an outcrop sample of sheeted veins.
SKRR Exploration considers the Olson project to be relatively underexplored, with known gold occurrences that have shown to be open at depth and along strike. In July 2020 SKRR launched an exploration program at Olson with the objective of defining targets to inform a phase two diamond drilling program. The company has contracted Discovery Geophysics to conduct a 10.3 line kilometer resistivity and IP geophysical survey at the Jena-Juba and Point-Tuscan targets, with preliminary results expected to be available for follow-up during phase one.
SKRR Exploration’s Irving/Leland gold project is located in the heart of Saskatchewan’s Trans Hudson Corridor, comprising 23,500 hectares that are split into two prospective gold properties. The Irving Lake property and Leland Gold property are both exploration-stage gold projects that have revealed gold mineralization on claims discovered during previous historical work.
The Irving/Leland Gold project is strategically located within 20 kilometers of SRR Mining’s (TSX:SSRM) Seabee Gold Mine, which hosts Saskatchewan’s largest orogenic gold deposit. The Irving/Leland project covers a portion of the Pine Lake Greenstone Belt within the Trans Hudson Corridor. The area is characterized by a major crustal shear system that intersects the corridor. According to SKRR, the area hosts many of the key geological ingredients needed to host large high-grade gold deposits, including those found at Seabee and the nearby Santoy gold deposit.
The Leland gold project was acquired by SKRR Exploration via an option agreement in May 2020 signed with Taiga Gold (CSE:TGC). Under the terms of the agreement, SKRR has the potential to earn up to a 75 percent interest in the property. The Leland gold project hosts several high-grade gold occurrences, including findings of up to 60 g/t gold that are associated with hosted quartz veins.
A 2019 exploration program conducted by Taiga Gold returned channel samples of 2.1 g/t gold over 3.22 m, including 5.4 g/t gold over 0.65 meters. Five new gold occurrences were discovered during the exploration program returning grades of up to 3.5 g/t gold. Northeast of the Simon showing, Taiga identified anomalous soils that make up a new zone of mineralization. Taiga also conducted additional staking around the Duck Lake Occurrence, where historical grab samples have returned 3.2 g/t gold.
SKRR Exploration acquired 100 percent of the Irving Lake project from Edge Geological Consulting Inc. in April 2020. The property hosts outcrop samples that have returned highlights of up to 3.93 g/t gold and 413 ppm copper.
SKRR Exploration’s Ithingo Lake project comprises 12 contiguous land claims for a total of 2,849 hectares. The property is home to historical exploration work that has been conducted by a number of previous operators, including Claude Resources Inc. (TSX:CRJ), Newmont Exploration of Canada, and Pine Channel Gold Corp.
SKRR Exploration acquired 100 percent of the Ithingo Lake property from Edge Geological Consulting in March 2020. Under the terms of the agreement, Edge has retained a net smelter royalty (NSR) of two percent, with an option for SKRR to repurchase one percent back for a cost of C$1,000,000. Over the next three years, SKRR Exploration is expected to contribute a total of $900,000 in work expenditures.
Historical exploration has been conducted on the Ithingo Lake property dating back to the 1930s when gold occurrences were reported on the property. In the 1908s, Claude Resources discovered high-grade gold mineralization after digging surface trenches that returned grab sample assays up to 27.37 g/t gold with channel sample composited intervals of 4.98 g/t gold over 6.1m and 9.33 g/t gold over 2.7m at the Main zone.
In 1988 and 1989 both Newmont Corporation (NYSE:NEM, TSX:NGT) and Claude Resources Inc. (TSX:CRJ) conducted drill campaigns on the Ithingo property for a total of 5,248.17 meters across 57 drill holes. The Main, Sterny, North Sterny and Ithingo Lake zones were all tested at the time, with the majority of the drill holes conducted on the Main Zone, which is open along strike and at depth. The best intersection at the Main zone returned 7.5m @ 11.5 g/t gold.
In February 2020 SKRR Exploration executed an agreement with Eagle Plains Resources (TSXV:EPL) to acquire 100 percent interest in the Cathro gold project located 50 kilometers northeast of La Ronge, Saskatchewan. The project comprises 3,277 hectares of land within the La Ronge Greenstone Belt, including volcanic rocks that are known to host structurally-controlled gold mineralization such as the historic Contact Lake deposit.
The Cathro gold project hosts four known gold occurrences within the claim boundaries and has seen limited exploration from past owners including Cogema, which conducted gram sampling and vein quartz sampling on the project in 1988. Highlights from this sampling program include:
During its exploration work, Cogema exposed the main Vidgy Zone over a strike length of 21m with a maximum vein width of 2.5m. Five lines of contiguous chip samples at 4-meter intervals were also collected from the main Vidgy Zone with highlights including 0m at 8.1 g/t gold, 7m at 4.4 g/t gold and 5m at 5.6 g/t gold.
To expand its holdings in the Trans-Hudson Corridor, SKRR Exploration announced the acquisition of 100-percent of the Manson Bay South Property in September 2020. The property comprises nine mineral claims for a total of approximately 4,228 hectares. To complement Manson Bay South, SKRR Exploration also announced the acquisition of a 100-percent interest in Edge Geological Consulting Inc.’s adjacent Manson Bay Property, which comprises four minerals claims totaling 64.537 hectares.
The Manson Bay property includes all of the known drill holes that outline the historic Manson Bay Gold Zone. Historical drilling was conducted on the Manson Bay Gold Zone in 1985 by HudBay Minerals, including three drill holes. Mingold followed up on this exploration with a 44-hole, 4,607-meter drill program in 1987-88, estimating a historic resource of 660,000 tons grading 3.4 g/t gold to a depth of 122 meters down-dip with the potential for expansion of depth and strike extent. SKRR Exploration considers these estimates to be historical in nature.
Highlights from the drill program include:
The Manson Bay South property is contiguous with and surrounds the Manson Bay Property. Manson Bay South contains a number of historical showings, including the Nest Group gold-silver-copper-zinc showing and the MAN Claim copper-gold showing.
The Nest Group showing is located approximately three kilometers southeast of the Mason Bay Gold Zone and includes four zones of known mineralization: The Showing, A Zone, B Zone and C Zone. The MAN Claim showing is located approximately 2 kilometers south of the Mason Bay Gold Zone, where previous explorers obtained a grab sample that returned an assay value of 5,680 ppb gold.
Mr. McElroy is a professional geologist with over 30 years of experience in the mining industry. He is the winner of the Prospectors & Developers Association of Canada 2014 Bill Dennis award for exploration success and the Northern Miner mining person of the year 2013. Ross McElroy has been instrumental in several major uranium discoveries in Saskatchewan (the world’s largest source of high-grade uranium), the Triple R deposit and Cameco’s McArthur River deposit (the world’s largest high-grade uranium deposit). Mr. McElroy while at BHP, managed the vast Hope Bay Gold Project and was a key member of the team to discover 3 major high-grade gold deposits that TMAC Resources brought into production.
Mr. Dahl is a seasoned investor and financier who is well versed in finance and marketing strategies for small-cap private and public Canadian companies. Mr. Dahl has expertise in identifying undervalued companies and introducing these opportunities to his buy-side network of clients, strategic co-investors and marketing participants. Mr. Dahl has a proven record of being able to raise capital and increase investor awareness and liquidity. Mr. Dahl was previously a vice-president and investment adviser with National Bank Financial, a leading Canadian investment dealer. In addition to managing a $150-million retail book and achieving Chairman’s Council level, Mr. Dahl participated in numerous capital raises totaling over $150-million directly for various issuers with total issuer financings of $1 billion on behalf of retail and institutional clients over a 20-year career.
Iain Butler has over 25 years of experience in various senior financial and general management roles. Currently with Kal Tire as the VP of Finance for their Mining group where he is a member of the Board of Directors for Kal Tire’s International entities. Iain has completed multiple complex acquisitions, both in Canada and abroad. Iain has an Economics Degree from the University of Essex and is a member of the Chartered Professional Accountants of BC and the Institute of Chartered Accountants in England and Wales.
Mr. Ross has more than twenty years in corporate development and marketing for small-cap to mid-tier mining, oil and gas companies. With a comprehensive network of institutional and retail relationships, Mr. Ross has planned and implemented numerous marketing campaigns. He was the Corporate Development Consultant for Fission Energy and played a key role in growing investor awareness up until its major sale of assets to Denison Mines. In 2013, Mr. Ross was appointed to the Board of Directors of Fission Uranium and was appointed to the Fission 3.0 Board of Directors following Fission Uranium’s acquisition of Alpha Minerals.
Ryan Cheung is the founder and managing partner of MCPA Services Inc., chartered professional accountant, in Vancouver, B.C. Leveraging his experience as a former auditor of junior venture and resource companies, Mr. Cheung serves as a director and officer or consultant for public and private companies, providing financial reporting, taxation and strategic guidance. He has been an active member of the Chartered Professional Accountants of British Columbia (formerly Institute of Chartered Accountants of British Columbia) since January 2008. Mr. Cheung holds a diploma in accounting from the University of British Columbia and a Bachelor of Commerce in international business from the University of Victoria.
Mr. Skanderbeg is currently founding CEO of GFG Resources Inc., an Abitibi gold belt focused company and was most recently President and CEO of Claude Resources Inc. since November 2014 – which was acquired by Silver Standard Resources Inc. for $337 million. He previously worked for Goldcorp, Inco Ltd. and Helio Resource Corp., holding positions in both exploration and operations. Mr. Skanderbeg is also a director of Wesdome Mines Gold Ltd. He holds a B.Sc. from the University of Manitoba and an M.Sc. from Rhodes University, South Africa. He brings extensive experience in the exploration and evaluation of gold systems, operational management, cost and asset optimization and strategic analysis.
SKRR Exploration Inc. (" SKRR " or the " Company ") (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) is pleased to announce the completion of a high resolution airborne magnetic survey at its Irving Lake gold project in east-central Saskatchewan (Figure 1). The Irving Project is located ~100km northeast of the town of La Ronge and is located within 10km to 20km of SSR Mining's very successful Seabee and Santoy mines, which is Saskatchewan's largest gold mining operation (Figure 2).
Data is currently being analyzed and results will be processed to highlight target areas for geological follow-up and targeting high priority targets for drill testing.
Previous historic work within and around Irving Lake has identified amphibolite-grade meta-volcanic and associated meta-intrusive rocks hosting well-defined shear zones. Such settings are considered positive indicators for the presence of orogenic gold deposits at Irving Lake. The host rocks and structural framework are similar to gold deposits in the region such as the nearby Seabee and Santoy deposits and the highly prospective Fisher project. This prospective geology is considered to be underexplored on the property. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Irving Lake Property.
Sherman Dahl, SKRR president and chief executive officer, stated: "We are excited to have completed the airborne survey over the Irving project area to identify and prioritize targets. With our recent and ongoing drilling success, we are confident of the potential for further significant discoveries in the well-known Saskatchewan Trans Hudson Corridor."
Mr. Dahl added, "The Irving property exploration initiative complements our other gold properties along with our base metals assets in Saskatchewan. In addition to Gold properties, SKRR controls the Watts Lake Zinc property and the Father Lake Nickel assets."
Precision GeoSurveys Inc. of Vancouver, B.C. completed a 4,288 line-km detailed magnetic helicopter-borne geophysical survey (Figure 2) over the Irving Project. Flight lines were spaced at 75m and were flown in a low-level systematic grid pattern over the property with lines-oriented north/south. The survey will aid with the interpretation of rock types and geological features including fault structures and alteration zones that may be associated with gold mineralization. This survey is an important step towards identifying high priority areas for future drill targets.
The Irving Project is a gold exploration property located in east-central Saskatchewan , about 100km northeast of the La Ronge , Saskatchewan. It is comprised of 24 mineral claims totaling 19,795.56ha.
The project has many key geological features required for hosting large high-grade gold deposits like Seabee and Santoy, including favourable geology, large scale structural shear zones, localized flexures and faults and numerous mineralized showings.
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.
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 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.
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.
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 interpretation of the survey results on the Irving Project, and the expected outcomes, follow up exploration (drilling) work on the Irving Project, 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.
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SKRR Exploration Inc. (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) (" SKRR " or the " Company ") is pleased to announce that is has received results from the 10-hole, 1867m (6125') drill program recently completed on the Olson property (the " Property "). The Property area covers 11,219 ha located within the Trans Hudson Corridor 20km northwest of Deschambault Lake, Saskatchewan and 80km south of SSR Mining's Seabee Gold Operation.
The 2022 program was designed to follow up on results from SKRR's 18-hole, 2,981m (9780') drill program completed in Fall 2020 and the 12-hole, 1674m (5492') diamond drill program completed in Winter 2021. Both programs were successful in intersecting significant gold mineralization, extending known mineralized trends at the Olson and Sisken Zones as well as defining newly discovered gold mineralization at the Point , Jena , Ackbar and Michael's Lake Zones (see SKRR's news releases dated February 4, 2021 , March 25, 2021 , and May 6, 2021 ).
* All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.
Drillholes OL22001 – 006 were completed at the Olson Zone and were designed to test mineralized shear-veins hosted in strained metavolcanic rocks. Results from 2022 show that mineralization reported in historic holes have strike and dip direction continuity and remains open in all directions. Hole OL22003 returned 8.10 m of 1.62 g/t Au including 0.84m of 5.64 g/t Au. Hole OL22006 returned 2.44 g/t Au over 2.07 m .
Drillholes OL22007 – 008 were completed at Ackbar Lake and tested mineralized shear/vein systems hosted in granodiorite-diorite of the Brownell Lake Pluton. Mineralization in this zone was first discovered during the 2021 program in hole OL21029. OL22008 returned 0.95 g/t Au over 6.75 m including 1.97 g/t over 1.02m .
OL22009 tested a geophysical chargeability anomaly at the Michael's Lake Zone that was first intersected in OL20018 and OL21024. OL22009 was designed as a 120 m step-out from OL21024 and successfully intersected mineralized hosted at the contact between the Brownell Lake Pluton and surround country rock. Assays show a broad, low-grade Au mineralization associated with the contact, returning 50.35m of 0.56 g/t Au including 3.10 m of 1.48 g/t Au.
Drillholes OL22010 tested the western extension of Au mineralization reported in historic drilling at the Carina Zone. The hole intersected semi-massive arsenopyrite hosted in a 1.0 m thick quartz vein. Assays did not return economically significant Au concentrations.
Tim Termuende , P.Geo., President and CEO of Eagle Plains Resources Ltd. commented recently on the results: " We continue to be encouraged by results to date at the Olson Project. The presence of consistent high grade gold mineralization identified at the Olson Zone and low-grade, bulk-tonnage gold mineralization discovered at the Point, Ackbar and Michael Lake Zones confirms the overall potential of the Olson Project and the widespread presence of gold mineralization on the property."
Ross McElroy , Chairman and Chief Geologist of SKRR Exploration stated: " With multiple drill confirmed target areas displaying a diverse style of gold mineralization, the Olson property continues to impress, showing encouraging signs of the potential to host deposit scale occurrences. Hole OL22009 at Michael Lake, with a 50m wide mineralized interval is an excellent example of the large and robust scale of gold mineralization at Olson."
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 4700m of diamond drilling, with the last drilling by third party operators reported in 2008. Historical drilling at Olson Lake 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. Fall 2020 drill program by SKRR at the Olson Zone 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. Follow-up drilling in 2021 extended known mineralization at historical occurrences and resulted in a new gold discovery at the previously undrilled Ackbar Zone. The Olson project is considered to be significantly underexplored, with many known gold occurrences open at depth and along strike. Some results are historical in nature and have not been confirmed by Eagle Plains or SKRR but are considered to be reliable and will form a basis for ongoing work. Under the terms of the option agreement with Eagle Plains Resources Ltd., SKRR may earn-in up to a 75% interest in the Olson Property.
Geological and geotechnical logging and core sampling were completed at a facility on the Olson property. Assay intervals were based on visual identification of mineralization, presence and density of quartz veins and lithological boundaries. TerraLogic Exploration geologists maintained chain of custody and sampling procedures reported in this news release according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.
Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 50 g Fire Assay – AA finish (Au-AA25). Samples that returned over 1ppm Au by Au-AA24 were re-analysed using gold (Au) 50g Fire Assay – Gravimetric finish (Au-GRA22). ALS Global is an accredited geoanalytical laboratory and is independent of SKRR and the QP.
On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Olson Drilling Program included certified reference material ("CRM's") and blanks that were inserted into each sample batch in order to verify the analytical from the lab. The CRM's from all holes reported passed within 3 standard deviations and the blanks returned acceptable values. All of the lab internal standards and duplicates were within acceptable values. SKRR detected no significant QA/QC issues during review of the data.
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.
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 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.
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.
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 potential of the Olson Property, and 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 or intends 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 precious and base 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.
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SKRR Exploration Inc. (TSXV: SKRR) (OTC Pink: SKKRF) (FSE: B04Q) (" SKRR " or the " Company ") is pleased to announce the start of an airborne magnetic survey at SKRR's 100% owned Father Lake Project in north-central Saskatchewan ( Figure 1 ). The Father Lake Project (the " Project ") is located ~40km northeast of the town of Stony Rapids and ~40km to the northeast of the historic Axis Lake Nickel-Copper-Cobalt deposit, recently optioned by Rio Tinto Exploration Canada Inc. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Father Lake Property.
SKRR's Father Lake claims overlie four magmatic sulphide bodies hosting Ni-Cu mineralization within a series of northeast trending norite sills. These mineralized zones, known as Dumas A, B, C & D, were drill defined by Strongbow Exploration Inc. in 2008-2009. Better intersections returned 2.36% Ni & 0.26% Cu over 0.5m , 1.34% Ni & 0.94% Cu over 2m , and 0.26% Ni & 0.07% Cu over 14.6m . 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 ongoing work at the Father Lake Project. Further work (including geophysical surveys and drilling) is required by SKRR in order to verify the historical work on the Father Lake Project.
The Father Lake project lies along the south margin of the Grease River Shear Zone, which experienced brittle–ductile reactivation coincident with intra-continental strike–slip strain during culmination of the Trans-Hudson orogeny. The project claims are underlain by metasedimentary gneisses that have been intruded by a 3km long norite sill, varying in thickness from 215m to over 800m .
Previous geophysical work comprised ground and airborne electromagnetic and magnetic surveys, which defined preliminary drill targets on the Dumas zones.
Precision GeoSurveys has been contracted to fly a 1,042 line-km high resolution, low level helicopter-borne geophysical magnetic survey over the Father Lake project ( Figure 2 ) with flight lines spaced at 50m . The survey will help to define areas within the Project of increased pyrrhotite sulphide mineralization, which is the primary sulphide component of magmatic nickel-sulphide deposits, and to map structural elements which are often the loci of mineralizing fluid events. It will also help direct work by field crews during future exploration programs.
The Father Lake Project is a nickel-copper exploration property located in north-central Saskatchewan , about 40km northeast of Stony Rapids, Saskatchewan . It is comprised of 9 mineral claims totalling 4,727.38 ha.
The Project has many key geological features required for hosting magmatic nickel-sulphide deposits including favourable geology, large scale structural shear zones, localized flexures and faults and numerous mineralized showings.
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.
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 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.
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 geophysical survey on the Father Lake Project and the expected outcomes, follow up exploration work on the Father Lake Project, 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 or intends 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 precious and base 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.
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SKRR Exploration Inc. (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) (" SKRR " or the " Company ") is pleased to announce the start of an airborne magnetic survey at SKRR's 100% owned Irving Lake Project in east-central Saskatchewan (Figure 1), The Irving Project (the "Project") is located ~100km northeast of the town of La Ronge and is located within 10km to 20km of SSR Mining's very successful Seabee and Santoy mines, which is Saskatchewan's largest gold mining operation.
The presence of amphibolite-grade meta-volcanic and associated meta-intrusive rocks hosting well-defined shear zones are considered positive indicators for the presence of orogenic gold deposits at Irving Lake. The host rocks and structural framework are similar to gold deposits in the region such as the nearby Seabee and Santoy deposits and the highly prospective Fisher project. This prospective geology is considered to be underexplored on the property.
SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Irving Lake Property.
Sherman Dahl , Chief Executive Officer of SKRR comments:
"We are excited to have commenced the airborne survey over the Irving Lake project area to identify and prioritize gold targets. This is a proven geophysical method for identifying structural, lithological and alteration features often associated with orogenic gold mineralization and aims to assist in prioritizing drill targets. With our recent and ongoing drilling success, we are confident of the potential for further significant discoveries in the Saskatchewan Trans Hudson Corridor"
Precision GeoSurveys Inc has been contracted to fly a 4,288 line-km detailed magnetic helicopter-borne geophysical survey over the Irving Project (Figure 2) with flight lines spaced at 75m . The survey will be flown in a low-level systematic grid pattern over the property with lines oriented north/south. The survey, which has commenced, will help to identify rock types and geological features including fault structures and alteration zones associated with gold mineralization. It will also help direct work by field crews during future exploration programs.
The Irving Project is a gold exploration property located in east-central Saskatchewan , about 100km northeast of the La Ronge , Saskatchewan. It is comprised of 24 mineral claims totalling 19,795.56ha.
The project has many key geological features required for hosting large high-grade gold deposits like Seabee and Santoy, including favourable geology, large scale structural shear zones, localized flexures and faults and numerous mineralized showings.
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.
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 .
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 planned geophysical surveys on the Irving Project and the expected outcomes, follow up exploration work on the Irving Project, 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.
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SKRR Exploration Inc. (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) (" SKRR " or the " Company ") is pleased to report a current update on intersections of arsenopyrite-bearing sulphides, along with disseminated arsenopyrite and quartz veining, in the now completed drill program at the flagship Olson Gold property in the Trans-Hudson corridor in Saskatchewan with assay results pending.
Sherman Dahl , Chief Executive Officer of SKRR comments:
" The visual indications of mineralization for which assays are pending are encouraging. It is important to note the continuation of mineralization and the indications that this second drill program at Olson points to an expansion of the known gold zones at Olson. In addition, SKRR Exploration will be reviewing exploration possibilities for both its Father Lake Nickel property and the highly prospective Watts Lake Zinc-Silver property. The interest in battery metals and the overall supply shortages highlight the potential upside of not only SKRR gold properties, but also the nickel and zinc assets under SKRR control."
Watts Lake Zinc property highlights:
The Father Lake nickel property details:
The Father Lake property is located 40 km northeast 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 along the Snowbird tectonic zone (SBTZ), which is a 2,800-kilometre-long Archean-age crustal-scale structural break. Locally, the property is situated immediately south of the Grease River fault. Geologically, the area is underlain by metasedimentary rocks which are intruded by a three-kilometre-long norite sill trending 65 degrees to 80 degrees that varies in thickness from 215 m to 800 m .
The nine contiguous mineral claims that comprise the Father Lake property cover approximately 12 km of prospective geologic trend, including the three-kilometre-long norite sill that is host to the historic Dumas A, B, C and D nickel-copper sulphide showings, as well as additional identified airborne electromagnetic (EM) geophysics anomalies along trend to the northeast that show TAU decay signatures similar to that at the Dumas showings. Zone C is the westernmost zone, while zones A/ B are the easternmost and located approximately three km to the east and interpreted to be the fault offset continuation of zones C and D. Zone D is situated halfway between zone C and zones A/B. The area has been the subject of historic exploration work dating back to 1956 by Father Lake Mining Co. with the discovery of Dumas zones A, B, C and D and drilling of 18 holes. An additional 11 drill holes were completed in 1969 by Pathfinder Resources Ltd. and more recently in 2007 to 2008, Strongbow Exploration conducted airborne geophysics surveys (MegaTEM and VTEM platforms) and drilled five holes to test geophysics targets that appeared to be associated with the showings, as well as targets away from the showings.
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 both the Watts Lake and Father Lake properties.
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 .
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
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 .
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 and results, the receipt of assays from the Olson drill program, 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.
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Satori Resources Inc. (TSXV: BUD) (OTCQB: STRRF They're currently focused on a dual track program of evaluating the former operating high-grade gold mine. BTV chats with President & CEO, Jennifer Boyle to learn more.
If you cannot view the video above, please visit:
https://b-tv.com/satori-resources-developing-the-100-owned-tartan-lake-gold-mine-project-btv-investing-news-ceo-clips-60sec
Satori Resources Inc.(TSXV: BUD) (OTCQB: STRRF)
CEO Clips is the largest library of publicly traded company CEO videos in Canada and the US. These 60 second video profiles broadcast on national TV and online via 12 financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com.
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Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com
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Orefinders Resources Inc. (" Orefinders " or the " Company ") (TSXV: ORX) is pleased to announce that it will be featured at Ore Day which will be broadcast today June 10 th at 9 am ET at www.Oreday.com
Ore Day is a conference hosted by the Ore Group of Companies who focus on gold, copper, nickel, and uranium development projects.
Ore Day will also feature keynote talks and interview with industry experts, including:
Register Here: www.OreDay.com
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's expectations regarding future operations and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the application of the proceeds of the Offering as anticipated by management and the inability to obtain the necessary TSX Venture Exchange approval to complete the Offering. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to close the Offering, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, TSX Venture Exchange approval, for the Offering.
Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com
Neither 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.
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TSX.V: VIPR, OTC: VIPRF
Silver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) is pleased to announce that it has closed the first tranche (the " First Tranche ") of its $3 million private placement announced on June 6, 2022 (the " Offering "), issuing 5,566,666 units of the Company (the " Units ") at a price of $0.20 per Unit for aggregate gross proceeds of $1,113,333 .
Each Unit consists of one common share (each, a " Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant entitles the holder thereof to acquire one Share at the price of $0.30 per Share until June 9, 2024 . The Shares and Warrants comprising the Units and any Shares issued upon the exercise of the Warrants are subject to a statutory hold period which expires on October 10, 2022 .
The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes. The Company anticipates closing the second and final tranche of the Offering on or about June 23, 2022.
The Company has agreed to pay a finder's fee to certain finders in respect of those purchasers under the Offering introduced to the Company by such finder. In connection with the closing of the First Tranche, Silver Viper paid finder's fees of $23,700 to Red Cloud Securities Inc., $16,800 to Haywood Securities Inc., $6,000 to Canaccord Genuity Corp., and $1,500 to PI Financial Corp.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States , nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora . The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope President and CEO
This news release may contain forward-looking statements, including statements with respect to the terms of the Offering, closing of the second and final tranche Offering and use of proceeds of the Offering. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements, management discussion and analysis and/or annual information form available on www.sedar.com . The risk factors identified in such documents are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law.
Neither 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.
SOURCE Silver Viper Minerals Corp.
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Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon Gold" or the "Company") is pleased to announce the completion of the option and work requirements on the Central Canada project to earn its 100% interest in the project located in the Hutchinson Township, Ontario
Falcon has completed all its cash share and exploration expenditures over the 4-year option. Falcon has the right to purchase half of the 2% NSR (Net Smelter Royalty) for a payment of $ 1,000,000, leaving the vendors with 1%. With annual production pre-payments of $ 10,000 which will be deducted against future royalty payments.
The Company previously announced February 2, 2022, and April 4, 2022, the planning and expansion of phase 3 drilling to commence early March however due to drill crew delay and availability we had to push back the start date. Currently, due to increased water levels in rivers in the area the Ministry of Northern Development, Mines, Natural Resources, and Forestry issued a flood warning late May as water levels had increased blocking access to the project. The Company is monitoring the situation and will report back when the situation clears.
The Company has decided for the near term to focus on its Central Newfoundland project portfolio and is pleased to report crews have been mobilized at our Gander North and South projects and at our Golden Brook project with Joint Venture partner Marvel Discovery Corp. (TSX.V MARV). The Company will be following up with a more detailed news release on the exploration underway in Newfoundland in the coming days.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 9 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Karim Rayani Chief Executive Officer, Director Telephone: (604) 716-0551 Email: k@r7.capital
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Neither 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.
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Airborne geophysics, soil and till geochemistry, and drilling to be completed by end of Q4 2022
MLK Gold Ltd. (CSE: MLK) ("MLK" or "MLK Gold" or the " Company "), a growth-oriented gold exploration company headquartered in Windsor, Nova Scotia is pleased to report that after an initial data mining compilation of public government databases, the Company has added 104 lithium claims covering 2,600 hectares on its 360 Lithium Property located on the south coast of Newfoundland .
Company President and CEO, Paul Smith (P. Geo.) and Executive Chairman, Bill Fleming , noted significant pegmatite development on the property following an initial reconnaissance visit to the area late last month.
"We know from previous government and academic research that pegmatite veins have been noted in previous mapping of the area and contain sub-ore grades of elemental lithium in addition to numerous quartz-tourmaline veins," said Smith. "What we were surprised to observe was the abundance of veining and the variation in textures and mineralogy. Our plan is to complete a full assessment of these claims as part of our Q3 exploration program which includes our Caledonia Brook Gold Property," he added.
Exploration is set to begin at the end of July and will coincide with the Company's plan to release its airborne Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey and soil data collected by Geotech Ltd. and Overburden Drilling Management (ODM).
The Company's flagship Caledonia Brook Gold Project is targeting lode and intrusive-hosted styles of gold mineralization through a planned initial drill program of 1,200 metres in 12 proposed holes to be collared on the Mustang66, Maverick, and Charlie Zones.
"The commencement of our Q4 drilling will represent the first diamond drill holes ever undertaken on the property," added Smith. "We have two additional holes being considered on the Slider Zone which will be conditional on results of a detailed soil sample survey in this area."
A total of 662 line-kilometres (representing ~62% of the property) has been covered by an airborne Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey. Survey highlights include:
All data is currently under review and results will be released in the Company's next update.
Phase I of the Company's glacial till sampling program in the northern portion of the property has been completed with 111 samples being processed by Overburden Drilling Management (ODM). A summary of the results from the samples include:
All heavy mineral concentrates from ODM's mineral separation work are currently being analyzed at Activation Laboratories Ltd. in Ancaster, ON , and results will be released once they have been received.
Additional glacial till sampling will be carried out over the southern part of the property in Q3-Q4.
The Company's 2022 soil sampling process will take place over five separate grids on the property. Gold assay grades in soil from last summer's exploration have shown elevated gold content up to 192 ppb. Further work will target the Mustang66, Maverick, Cougar, Charlie, and Slider Zones.
Rock geochemistry has indicated four areas of elevated gold, silver, zinc, or lead content. These occur along the Mustang66, Viper, and Maverick Zones with gold assays up to 2.38 g/t Au and with silver up to 71.1 g/t Ag, 4.03 % Zn, and 1.07 % Pb.
All work will focus on areas where either known structural faults occur or where the Company has evidence of either shear zones or faulting being present based on its previous exploration in the area.
MLK Executive Chairman, William (Bill) Fleming , says the Company's commitment to the area's high potential is driving their exploration program.
"We have a pretty good idea of the geological similarities we share with other major stakeholders in the area, and we are encouraged by some of the results we have recorded to date," said Fleming. "Keeping that in mind, our primary focus right now is to accelerate the implementation of our strategic exploration initiatives, and if that requires more investment capital then we'll execute that action."
MLK's Caledonia Brook property is situated in central Newfoundland west of New Found Gold Corporation, northeast of the Valentine Lake deposit property, and southwest of Sokoman Minerals Moosehead gold property, and shares geological and structural similarities to Marathon Gold's (4.14 million ounces; 3.14 Moz. M&I, 56.7 Mt @ 1.72 g/t Au; 1.00 Moz. Inferred; 18.2 Mt @ 1.70 g/t Au) Valentine Lake deposit with both properties lying along the Victoria Lake – Grand Falls Shear Zone System. The Company's qualified person has not verified data from Marathon Gold's Valentine Lake project and similarities are not indicative of mineralization on the Company's properties.
Source : N.I. 43 Technical Report & FEASIBILITY STUDY ON THE VALENTINE GOLD PROJECT, Newfoundland and Labrador, Canada ; Prepared for, Marathon Gold Corporation, 36 Lombard Street, Suite 600, Toronto, ON , M5C 2X3; by Ausenco. Effective date: April 15, 2021 .
MLK's corporate update can be viewed here .
Paul K. Smith (P. Geo.), President & CEO for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's premiere resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold projects in mining and mineral-rich Newfoundland , MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound gold-mining company.
Additional information about the Company and its activities may be found on the Company's website at www.mlkgold.com and under the Company's profile at www.sedar.com .
To view the Company's recent promotional video, please click HERE .
This news release contains certain forward-looking statements. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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Finlay Minerals Ltd. (TSXV: FYL) (" Finlay " or the " Company ") is pleased to announce its exploration plans for all three of its projects: the Silver Hope, the PIL, and the ATTY for the summer of 2022.
Robert F. Brown , President & CEO of Finlay Minerals states:
" The necessary funding by Finlay is in place for the Silver Hope and ATTY exploration programs, and our partner, ATAC, is funding the PIL program. All three programs have high impact exploration potential. At Silver Hope, drilling is targeting both Equity Silver type Cu-Au-Ag and porphyry Cu-Mo type mineralized targets. At PIL, ATAC is focusing on a porphyry Cu-Au-Mo targe; while at ATTY, Finlay is better defining potential porphyry Cu-Au and associated vein Au-Ag targets. Management is looking forward to the commencement of all these work programs ."
The planned 2,000m drill program will evaluate some of the high-priority, undrilled targets within the Equity East and Allin Zones. The Equity East and Allin targets are combined geochemical, and geophysical anomalies strongly associated with the Goosly Intrusive Complex (GIC). ( CLICK HERE to view the Silver Hope Property with the Equity East and Allin Zones and the Main Trend's Gaul Zone ).
The former Equity Silver open-pit and underground mine is located on the western edge of the magnetic high anomaly which is interpreted as the GIS (Goosly Intrusive Suite). The exploration permit is currently being reviewed by the Ministry of Mines & Energy and Low Carbon Innovation and exploration work will begin once the permit is received.
Follow-up drilling in the Gaul Zone along the Main Trend will target down dip of the mineralized zone to twin some 1987 drill holes that were drilled prior to Finlay's ownership and for which the Company is missing assay data. The Company will also test south of SH21-09 which intersected 76.57m (from 80.23m ) grading 0.45% Cu, 14.6g/t Ag, and 0.14g/t Au and which continues to be open to the south and down dip.
ATAC's 2022 exploration plans will focus on the Copper Ridge target which hosts a 1,300m x 750m Cu – Au – molybdenum (Mo) surface geochemical anomaly ( CLICK HERE to view the Cu in soils PIL map showing the target areas ).
The exploration program will focus on detailed geological and alteration studies, in addition to IP geophysics to develop drill targets. Permitting for future drilling has been submitted to the Ministry of Mines & Energy and Low Carbon Innovation. Follow-up mapping and sampling is also planned at the Copper Cliff target which hosts a 25m continuous talus sample that assayed 1.04% Cu. Other targets will be investigated depending on time and budget.
Finlay's 2022 exploration plans will focus on the Attycelley vein Ag-Cu-Pb-Zn-Au target within a 1.2km x 1.3km Cu surface geochemical anomaly. ( CLICK HERE to view to ATTY Map with the target areas .)
The exploration program will include geological and alteration mapping and sampling to outline the extent of the Attycelley veins and their relation to the large surrounding soil anomaly, and high chargeability IP anomaly. The Attycelley hosts several high-grade samples with values as high as 240.6g/t Ag, 9.1% Pb, 5.5% Zn, 1.8% Cu and 0.66g/t Au .
Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details please visit the Company's website at www.finlayminerals.com
On behalf of the Board of Directors, Robert F. Brown , P. Eng. 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 includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Silver Hope, PIL and ATTY Properties. Although Finlay 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 or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
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