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SKRR Signs Option Agreement to Acquire the Ithingo Lake Gold Project in Saskatchewan, Canada
Vancouver, British Columbia--(Newsfile Corp. - March 4, 2020) -  SKRR Exploration Inc. ( ...
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"SKRR Signs Option Agreement to Acquire the Ithingo Lake Gold Project in Saskatchewan, CanadaVancouver, British Columbia--(Newsfile Corp. - March 4, 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 (the \"Option Agreement\") to acquire 100% of the Ithingo Lake property (the \"Property\") from Edge Geological Consulting Inc. (\"Edge\"), a company owned and controlled by Ross McElroy, a director of SKRR. Edge holds 100% unencumbered title rights to 12 contiguous mineral claims encompassing approximately 2,849 ha. The Property is situated in the north-central region of the province of Saskatchewan, approximately 125 km northeast of the village of Buffalo Narrows and approximately 235 km to the northwest of the town of La Ronge, SK. Ithingo Lake Property HighlightsLarge Land Package with Demonstrated High-Grade Gold Mineralization: Ithingo Lake is a contiguous land package consisting of 2,849 ha. Previous explorers Claude Resources, Newmont Exploration of Canada and Pine Channel drilled 57 holes in over 5,200m of historic drilling. Main Zone drilling returned intersections up to 7.5m @ 11.5 g.t Au including 0.5m @ 138.97 g/t Au with visable gold in quartz veining (DDH 88-11).Strong Blue-Sky Potential: The Main Zone remains open along strike and at depth. Sterny and Sterny North Zones have potential for hosting significant high-grade gold.World-Class Jurisdiction: in 2019 Saskatchewan was ranked #11 mining investment attractiveness in the world by Fraser Institute. Located in one of the World's top mining jurisdictions, the shallow depth and favorable geology, means there is the potential to fast-track exploration and development activity.Strong Market Fundamentals: Gold prices continue to remain strong and at or near multi-year highs.Recognition of the potential for gold at Ithingo Lake dates back to 1938, with the reported occurrence of gold associated with sulphide mineralization (pyrite, pyrrhotite, arsenopyrite, chalcopyrite, sphalerite, and magnetite) in metavolcanics hosted quartz veins and in rusty silicified metavolcanics. The area remained relatively underexplored until the late 1980's when Claude Resources discovered high-grade gold mineralization in surface trenches with grab samples assays up to 27.37 g/t Au and cha...