SKRR Exploration (CAN:
SKRR)
released two pieces of news on Thursday that is fueling a strong surge in its share price. The Company has added a new property to its portfolio of prospective gold properties in northern Saskatchewan.
SKRR has signed an option agreement to acquire up to a 75% interest in the Leland Gold Property from current owner
Taiga Gold Corp. (CAN:TGC).
There is a two-stage earn-in clause. SKRR can acquire up to a 51% interest in the Leland Property through via cash payments totaling CAD$500,000, an aggregate of 1,000,000 shares in SKRR, and cumulative exploration expenditures of CAD$1.5 million. SKRR can earn an additional 24% interest through additional exploration expenditures of CAD$1.5 million as well as 500,000 shares of SKRR.
SKRR has also announced the appointment of Michael Halvorson to the SKRR Advisory Board.
Halvorson has deep experience in mining and mineral exploration at the Board level. He has previously served on the Board of many mining companies including: Viceroy Exploration Ltd., Novagold Resources Inc., and Fission Energy Corp.
Halvorson has been an early investor in SKRR, recognizing the gold exploration potential of the Trans-Hudson Corridor. He is the current Chairman of the Board and Director for Orezone Gold Corporation (CAN:ORE / US:ORZCF).
The Leland Gold Property is located approximately 100 km east of La Ronge, Saskatchewan.
Historical gold sampling on the property has yielded assays of up to 60 g/t gold.
Recent exploration results by Taiga Gold (from 2019) include:
- 2.1 g/t gold over 3.22 meters, including 5.4 g/t gold over 0.65 meters (channel sample)
- 5 new gold occurrences along the Simon-Irving trend with grades of up to 3.5 g/t Au
Even with the price of gold down over $25/ounce on the day,
SKRR is currently trading up 27.42% on the news to a share price of CAD$0.395. This reflects SKRR’s very tight float, with only 18 million shares currently issued and outstanding.
DISCLOSURE: SKRR Exploration is a client of Dynamic Wealth Research.
