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SKRR Amends Option Agreement to Acquire the Irving Lake Property in Saskatchewan, Canada
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2020) - SKRR Exploration Inc. ( TSXV: S...
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"SKRR Amends Option Agreement to Acquire the Irving Lake Property in Saskatchewan, CanadaVancouver, British Columbia--(Newsfile Corp. - May 14, 2020) - SKRR Exploration Inc. (TSXV: SKRR) (\"SKRR\" or the \"Company\") announces that it entered into a non-arm's length amendment agreement dated May 13, 2020 in respect of the option agreement dated April 26, 2020 (see news release dated April 27, 2020) (the \"Option Agreement\") with Edge Geological Consulting Inc. (\"Edge\"), a company controlled by Ross McElroy (the \"Amendment Agreement\") to acquire from Edge 100% of the Irving Lake property, consisting of ten mineral claims encompassing approximately 6,457.14 hectares, located in the province of Saskatchewan, approximately 120 km northeast of the town of La Ronge (the \"Property\"). Edge holds 100% unencumbered title rights to ten non-contiguous mineral claims encompassing the Property. Ross McElroy is a director of SKRR and is also a director of Edge.Pursuant to the terms of the Amendment Agreement, five additional claims encompassing approximately 6,362.9 hectares have been added to the Property (for a total of 15 mineral claims) of which Edge owns 100% unencumbered title rights. In addition, SKRR must incur total exploration expenditures of $1,050,000 over a three-year period instead of $600,000. The image below shows the Irving project land tenure makeup, with the claims added pursuant to the Amendment Agreement highlighted striped red and the original claims pursuant to the Option Agreement shown in solid red.To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/6952/55845_f7900c70147dd8db_001full.jpgRecent staking by Edge encompasses the west margin of the Eyophaise pluton, a late felsic intrusive body of mostly tonalitic composition, in contact with hornblendic and biotitic felsic gneisses of mixed sedimentary and igneous origin. This is the same body of rock in contact with the layered ultramafic intrusives that host the Seabee deposit 7 km to the north. Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on SKRR's properties. An extensive rock, soil and till sampling program by Placer Dome in 1989 outlined several areas within the newly staked ground that are geochemically anomalous for gold and base metals. Highlights in...