SKRR Exploration Inc. (TSXV: SKRR) announced today that it has secured the approval of the TSX Venture Exchange to acquire 100% interest in Father Lake nickel property in Saskatchewan, Canada. The property currently holds 9 mineral claims and covers an area of 4,727.382 hectares.
The Father Lake property is located in mineral-rich province of Saskatchewan, much like the firms other properties. Geologically, the area is underlain by metasedimentary rocks and contains a norite body that can be traced for up to 16 kilometres.
“The addition and approval of the Father Lake Nickel exploration asset adds to the SKRR large portfolio of gold exploration assets,” said SKRR CEO Sherman Dahl. “Investors can look to the growing assets and exploration success of SKRR in Saskatchewan as we enter another season of drilling.”
Historic drilling by a previous company, Father Lake Development, discovered the property’s four zones–Dumas A, B, C, and D–occurring within the norite body. The data from this previous drill program included an intersect of 1.33% nickel and 0.94% copper over 2 metres in Dumas A & B and 2.36% nickel and 0.26% copper over 0.5 metres in Dumas C. The results have convinced the company of the property’s nickel-copper sulphide potential.
The recent 2008 drilling by another company, Strongbow Resources, yielded highlight intersects that include:
- Dumas A & B: 0.15% nickel and 0.08% copper over 25.0 metres
- Dumas C: 0.27% nickel and 0.20% copper over 4.6 metres
- Dumas D: 0.19% nickel and 0.12% copper over 12.0 metres
The company also believes that the property’s mineralization may represent the same style with the Nickel King property located 90 kilometres northeast of Father Lake property. Strongbow Resources produced a resource estimate for Nickel King on June 2010 with an indicated resource of 11.1 million tonnes grading at 0.40% nickel, 0.10% copper, and 0.018% cobalt and a total inferred resource of 33.1 million tonnes grading at 0.36% nickel, 0.09% copper, and 0.017% cobalt.
SKRR Exploration Inc. last traded at $0.18 on the TSX Venture.
FULL DISCLOSURE: SKRR Exploration is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover SKRR Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.