SKRR Exploration Inc. (OTCMKTS:SKKRF) has announced the beginning of an airborne magnetic survey at SKRR’s 100% owned Father Lake Project in north-central Saskatchewan, on March 22, 2022.
Market Reaction
On Tuesday, SKKRF stock ended flat at $0.0687 with 62K shares, compared to its average volume of 10K shares. The stock moved within a range of $0.0687 – 0.0687 after opening trade at $0.0691.
Prior geophysical work comprised ground and airborne electromagnetic and magnetic surveys, which defined preliminary drill targets on the Dumas zones. However, the company has issued a disclaimer that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Father Lake Property.
The project lies along the south margin of the Grease River Shear Zone, which experienced brittle–ductile reactivation coincident with intra-continental strike–slip strain during culmination of the Trans-Hudson orogeny. Claims are underlain by metasedimentary gneisses that have been intruded by a 3km long norite sill, varying in thickness from 215m to over 800m.
Father Lake claims span over four magmatic sulphide bodies hosting Ni-Cu mineralization within a series of northeast trending norite sills. The mineralized zones (drill defined by Strongbow Exploration Inc. in 2008-2009) are categorized as Dumas A, B, C & D. Better intersections returned 2.36% Ni & 0.26% Cu over 0.5m, 1.34% Ni & 0.94% Cu over 2m, and 0.26% Ni & 0.07% Cu over 14.6m. Detailed work is still required to verify the historical work on the Father Lake Project.
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SKKRF stock is trading above the 20-Day and 50-Day Moving averages of $0.0649 and $0.0644 respectively. However, the stock is trading below the 100-Day moving average of $0.0937.
