SKRR Exploration (TSXV: SKRR) has significantly increased its landholdings as of this morning within the Trans Hudson Corridor. The company has entered into an acquisition agreement to acquire a 100% interest in Eagle Plains Resources Manson Bay South Property, as well as Edge Geological Consulting Inc’s adjacent Manson Bay Property in exchange for cash and shares.
The Manson Bay South property consists of 4,228 hectares of land, while the Manson Bay property is 64.5 hectares in size. The two adjacent properties are located 40 kilometres northwest of Flin Flon, Manitoba’s historic mining centre.
The property encompasses all of the known drill holes within the historic Manson Bay Gold Zone, with historic drilling intersecting 15.39 g/t gold over 10.03 metres, including 23.13 g/t gold over 6.40 metres, which was found in the mid 1980’s by a 4,607 metre drill program conducted by HudBay Minerals. A historic resource of 66,000 ounces exists on the property at 3.4 g/t gold with strong potential for expansion along strike and depth.
The Manson Bay Project is something of real significance to the entire team of SKRR. This represents one of our most advanced projects with high grade mineralization and impressive blue sky potential. Our success requires us to passionately plan and execute with a focus on detail in all that we do. We will work to deliver results by finding new opportunities and finding the very best people and projects in Saskatchewan.”Sherman Dahl, CEO
Under the terms of the agreement, to acquire 100% of both the Manson Bay South and Manson Bay Properties, SKRR will pay $10,000 to each of Edge Geological Consulting and Eagle Plains Resources, in addition to 750,000 common shares. Aggregate consideration as a result will effectively be $20,000 and 1.5 million common shares for the purchase of 13 mineral claims.
Additionally, the company has amended an option agreement it entered into in April 26, 2020 related to the purchase of the Irving Lake property from Edge Geological Consulting. Under the amended agreement, the company is to acquire an additional 2,507 hectares through three additional claims.
SKRR Exploration last traded at $0.39 on the TSX Venture.
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