SKRR Exploration (SKRR.V) the joint venture partner of Eagle Plains Resources (EPL.V), has released intriguing exploration results from the first few holes it drilled on the Olson property in Saskatchewan, where SKRR is currently earning a 75% stake by completing C$3M in exploration expenses and making payments in cash and stock to Eagle Plains.
18 holes have been drilled on the property and SKRR has released assay results from the first five holes. 4 of the 5 holes contained gold and surprisingly, all of the holes seemed to contain economic grade gold mineralization although some of the widths are still pretty narrow.
The most intriguing hole is clearly hole number 4 where the drill bit intersected almost 40 meters of 1.09 g/t gold starting at a depth of just 3 meters down hole. The almost 40 meters contained several zones with varying grades. We see a similar result in hole 5 where a shallow and relatively thick zone of 31 meters containing 0.51 g/t gold seems to confirm the presence of something interesting there. Holes 4 and 5 are clearly much better than the first three holes where only narrow intervals of gold were encountered, but a quick look at the map explains why: holes 4 and 5 were drilled in a completely different location and the other holes drilled at the Point location will be very interesting to determine the size of this thing.
The market didn’t seem to be too impressed with these results as SKRR Exploration had a weak day upon announcing the assay results, and although holes 1-3 aren’t great, it’s still remarkable to find gold right off the bat while holes 4 and 5 are clearly something intriguing. To be continued!
Disclosure: The author has a long position in Eagle Plains. Eagle Plains and SKRR Exploration are not sponsors of the website, but Taiga Gold, related to Eagle Plains, is. Please read our disclaimer.