- SKRR Exploration (SKRR) has begun planning for a winter diamond drill program at its Leland Project in east-central Saskatchewan
- The company intends to complete 1,500 metres of drilling at the project, which sits within the Trans Husdon Corridor
- A previous summer field program consisted of prospecting, mapping, sampling and ground truthing of anomalies identified during a 2019 drone survey
- According to an agreement with Taiga Gold, SKRR has an option to acquire a 75 per cent interest in the Leland Project
- SKRR Exploration is currently down 17.24 per cent to C$0.24 per share
SKRR Exploration (SKRR) has begun planning for a winter diamond drill program at its Leland Project in east-central Saskatchewan.
Located 23 kilometres southwest of SSR Mining’s Seabee Gold Operation, the project sits within the Trans Hudson Corridor. The prospective geology is thought to be substantially under-explored for 30 kilometres of strike length within the current Leland property boundaries.
The company intends to complete 1,500 metres of drilling at the Leland Project, following the completion of a summer field program earlier this year.
The program consisted of in-depth prospecting, mapping, infill and grid soil sampling, channel sampling and ground truthing of anomalies that were identified during a drone survey in 2019.
Much of the channel sampling work was focused on the Michelle and Irving area, while soil sampling activities evaluated the East Leland target and the new Irvle magnetic anomaly.
A total of 74 rock samples and 200 soil samples were collected and sent for analysis, with final results still to come.
“Drill targets are being finalised and upon receipt of permits, a winter drill program is scheduled to commence,” he added.
According to an agreement with Taiga Gold, which was signed in late-May, SKRR may acquire an initial 51 per cent interest in the property for a total of C$1.5 million in exploration expenses, $500,000 in cash and 1 million common shares.
Once this initial phase has been completed, SKRR may acquire a further 24 per cent stake – for a total of 75 per cent – by spending an additional $1.5 million on exploration efforts and issuing 500,000 common shares to Taiga by December 31, 2023.
SKRR Exploration is currently down 17.24 per cent to $0.24 per share at 12:50pm EST.