VANCOUVER,
BC, June 18, 2024 /CNW/ - SKRR Exploration
Inc. (TSXV: SKRR) (FSE: B04Q) ("SKRR" or the
"Company") is pleased to announce its plan to commence a
drill program of approximately five (5) exploration core drillholes
as well as ground gravity and Time Domain EM geophysical surveys at
the 'Clearwater West Project' located in Saskatchewan. This work program is expected to
commence in July 2024. The
exploration permits to carry out the work have been received from
the Ministry of Environment of Saskatchewan. SKRR has an option to acquire up
to a 70% interest in the Clearwater West Project from F3 Uranium
Corp. (TSXV: FUU) ("F3"). The Clearwater West Project is an
early-stage exploration project prospective for uranium
mineralization. The uranium mineralization model for the Clearwater
West property is basement hosted and structurally controlled
Athabasca Basin unconformity
related deposits.
Only three shallow drillholes were previously
completed on the property (see F3's news release dated August 4, 2023) in 2015 and encountered graphitic
shear zones. Drilling this summer will consist of follow up
drilling of the 2015 holes as well as first pass drilling targeting
ground Time Domain electromagnetic and IP resistivity anomalies on
areas of increased conductivity along untested airborne EM
conductors on the east side of the property.
The western part of the property has untested
conductors that are sub-parallel to the Patterson Lake corridor
which hosts Fission Uranium's Triple R uranium deposit and NexGen's
Arrow uranium deposit located 13 km to the north and 17 km to the
north respectively. Ground gravity and Time Domain EM surveys will
also be completed this summer in the west part of the property,
covering distinct conductive areas defined by the 2014 VTEM survey,
to develop and define distinct drill targets for future
testing.
Summary of the Clearwater West
Property
The Clearwater West Project is comprised of 3
contiguous mineral claims totaling approximately 11,786 hectares
and is located ~20km outside the edge and in the south-west area of
the Athabasca Basin in
Saskatchewan. SKRR cautions that
past results or discoveries on proximate lands are not necessarily
indicative of the results that may be achieved on the Clearwater
West Project.
Basement hosted Athabasca unconformity related deposits often
feature unique characteristics that can be identified by various
geophysical surveys. A VTEM survey flown over the property in early
2014 defined electromagnetic (EM) conductors, some of which are
interpreted to be possible extensions of the EM conductors
identified on the PLS property immediately to the north.
F3's experienced and successful management and
technical team, with a track record of three major high-grade
uranium discoveries in the Athabasca Basin region since 2010 (Waterbury
Lake project J Zone, PLS Triple R deposit and most recently the PLN
JR Zone) will operate and manage Clearwater West.
Qualified Person
The scientific and technical contents of this
news release have been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101 and
have been reviewed and approved by Michelle
McKeough, M.Sc., P.Geo., President of Terralogic Exploration
Inc., a Qualified Person. Ms. McKeough has verified the data
disclosed. The information provides an indication of the
exploration potential of the Clearwater West Project but may not be
representative of expected results.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base metal
explorer with properties in 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 uranium,
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
relating to the planned drill program at the Clearwater West
project (including the size and timing of the work program) and the
expected completion of geophysical work, statements relating to the
technical, financial and business prospects of the Company, its
projects, its goals and other matters. All statements in this news
release, other than statements of historical facts, that address
events or developments that the Company expects to occur, are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Such statements and
information are based on numerous assumptions regarding present and
future business strategies and the environment in which the Company
will operate in the future, including the price of metals, the
ability to achieve its goals, the ability to secure equipment and
personnel to carry out work programs, that general business and
economic conditions will not change in a material adverse manner,
that financing will be available if and when needed and on
reasonable terms. Such forward-looking information reflects the
Company's views with respect to future events and is subject to
risks, uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration
results, risks related to the inherent uncertainty of exploration
and cost estimates and the potential for unexpected costs and
expenses and those other risks filed under the Company's profile on
SEDAR at www.sedarplus.ca. There is a possibility that future
exploration, development or mining results will not be consistent
with the Company's expectations. Factors that could cause actual
results to differ materially from those in forward looking
statements include, but are not limited to, continued availability
of capital and financing and general economic, market or business
conditions, failure to secure personnel and equipment for work
programs, adverse weather and climate conditions, failure to obtain
or maintain all necessary government permits, approvals and
authorizations, decrease in the price of gold, copper, uranium and
other metals, failure to obtain or 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.