Business
SKRR Signs Option Agreement to Acquire the Irving Lake Property in Saskatchewan, Canada
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2020) - SKRR Exploration Inc. ( TSXV:...
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"SKRR Signs Option Agreement to Acquire the Irving Lake Property in Saskatchewan, CanadaVancouver, British Columbia--(Newsfile Corp. - April 27, 2020) - SKRR Exploration Inc. (TSXV: SKRR) (\"SKRR\" or the \"Company\") is pleased to announce that it has signed a non-arm's length option agreement dated April 26, 2020 (the \"Option Agreement\") to acquire 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\") from Edge Geological Consulting Inc. (\"Edge\"). Edge holds 100% unencumbered title rights to ten non-contiguous mineral claims encompassing the Property. Irving Lake Property SummaryThe mineral dispositions cover prospective sections of the Pine Lake greenstone belt, located within the Glennie lithostructural domain. The Property is centered ~20km south of SSR Mining's Seabee and Santoy Gold Mines. Seabee is Saskatchewan's largest orogenic gold deposit. Highlights of the Seabee Gold Operation are: Measured and Indicated mineral resources of 1,050,000 ounces of gold at an average grade of 10.61 g/t and Inferred mineral resource of 583,000 ounces of gold at an average grade of 8.5 g/t: as of December 31, 2019. Annual cash costs for 2019 US$464 per payable ounce of gold sold (see SRR Mining Inc. - MD&A for the Year Ended 2019). The Pine Lake greenstone belt is metavolcanic sequence of rocks that strikes west from the north-south trending Tabbernor Lake fault system, a major crustal shear system transecting the Trans Hudson Orogeny. Splays off the Tabbernor fault system in the Laonil Lake region 20 km to the north contain shear hosted gold mineralized quartz veins which typify ore-hosting structures at the Seabee Gold Operations.Claims held by Edge lie within 1 kilometre of all significant metal occurrences in the southern Pine Channel supracrustal belt. These showings include the Leland Lake gold mineralized shear hosted quartz veins with reported historic rock samples up to 57 g/t Au, the Duck Lake and Robinson Lake showings with reported historic assays up to 3.2 g/t Au in outcrop, and the Sun Claims area with reported historic drill intersections up to 5.5% Cu, 1.9% Zn and 0.31 g/t Au over 0.5m width in drill hole.]. The trend of mineralization parallel...