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SKRR Explores in Close Proximity to SSR Mining Seabee/Santoy Deposits

IWA NOTE:  

Irving and Seabee Area of Trans Hudson Corridor is likely one of the least explored areas in Canada.  

The best place to find gold? Close to a gold mine. 

High Grade Underground Mine Potential is there. 

Management of SKRR believes it is just a matter of time (and drilling) that will uncover more hidden treasures. They are committed to the quest, that is for sure. 

Seabee is located in Northern Saskatchewan, Canada approximately 125 kilometers northeast of the town of La Ronge. The Santoy underground mine has been in continuous commercial production since 2014. Commercial production at the Seabee underground mine commenced in 1991 and exhausted Mineral Resources in 2018. All ore is processed at the Seabee mill facility, which has been in operation since 1991. The Seabee mill facility produces gold doré bars that are shipped to a third-party refinery. Access to the mine site is by fixed wing aircraft to a 1,275-meter airstrip located on the property. Equipment and large supplies are transported to the site via a 60-kilometer winter ice road, which is typically in use from January through March.
SSR Mining acquired Seabee on May 31, 2016, as a result of our acquisition of Claude Resources Inc. Since 2016, SSR Mining’s growth and development strategy has been to increase production by optimizing the milling and mining processes and exploring new mill feed sources.

Highlights of Seabee include:

Mineral Reserves: Proven and Probable Mineral Reserves of 580,000 ounces of gold at an average grade of 6.72 g/t as of December 31, 2021.

Potential for mine life extension: Measured and Indicated Mineral Resources of 358,000 ounces of gold at an average grade of 12.83 g/t. Inferred Mineral Resources of 536,000 ounces of gold at a grade of 6.05 g/t. Mineral Resources are as of December 31, 2021.

Delivered strong annual gold production: Produced 118,888 ounces of gold in 2021 at mine site *AISC of $804 per payable ounce of gold sold.

Seabee operating outlook: The 2021 SK1300 Technical Report Summary life of mine plan for Seabee featured over 6 years of mining to 2032 and gold production through 2028, including average annual production of 96,000 ounces of gold over the first 5 years.

Exploration potential: Seabee has successfully replaced gold reserves over the mine’s 30-year operating life, and current exploration programs are designed to support Seabee’s continuation into the next decade. The exploration team is currently focused on new reserve growth at the Gap Hanging wall, initial resource definition at the Santoy Hanging Wall and continued exploration drilling at the Joker target. In addition, SSR Mining continues exploration on the 80% SSR Mining owned Fisher Properties, located immediately to the south of the Seabee claims.

There are many good reasons for SKRR to be optimistic, and investors will find the entry point as never been better with SKRR market cap at very attractive levels. 

Current News Release here: 

SKRR EXPLORATION INC. BEGINS AIRBORNE MAGNETIC SURVEY ON IRVING LAKE PROJECT, SASKATCHEWAN

IWA is a shareholder of SKRR Exploration Inc
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company’s operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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