SKRR Strikes Major Gold Intercept On Olson Project

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An initial drilling program is a nervous time for all concerned – mining company executives and investors alike.

Spectacular success could immediately launch the company. Spectacular failure could sink the ship.

SKRR Exploration (CAN: SKRR / US: SKKRF) just reported the assay results from its first drilling on the Company’s flagship Olson Gold Project. The results fall in between those two extremes.

SKRR intersects two intervals of significant gold mineralization

SKRR reported solid drill results from Olson. Gold mineralization includes the following intercepts.

  • 39.80 meters @ 1.09 g/t gold, including 7.62 meters @ 3.44 g/t, including 1.53 meters @ 13.80 g/t

(hole DDH OL20004)

  • 31.04 meters @ 0.51 g/t gold

(hole DDH OL20005)

  • 1.53 meters @ 13.5 g/t gold and 1.24 meters @ 1.14 g/t gold and 1.21 meters @ 2.54 g/t gold

(hole DDH OL20002)

Not a “home fun”, but definitely successful results (full results can be viewed in an Appendix immediately following this article).

This was shallow drilling. To conserve investor capital, management chose to restrict drilling on these holes to an average of ~150 meters depth (18 holes spread over 2,981 meters).

The significant gold intercepts in holes DDH OL20004 and DDH OL20005 (31.04 meters gold and 39.80 meters gold respectively) started virtually right at surface.

Even at lower grades, near-surface deposits of gold are commercially economical (with friendly metallurgy) via open pit mining. Open pit mining not only significantly reduces the cash costs to produce gold, it radically reduces the capital costs to construct a mining facility.

Also very encouraging were the indications of high-grade gold mineralization:

  • 1.53 meters @ 13.80 g/t gold (DDH OL20004)
  • 1.53 meters @ 13.5 g/t gold (DDH OL20002)
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Disclosure:

The writer holds shares of SKRR Exploration. SKRR exploration is a client of Dynamic Wealth Research.

 

 

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