Exploration Work to Commence at the RDR Project, Quebec
July 11, 2019
Vancouver, BC, July 11, 2019 – Skarb Exploration Corp. (“Skarb” or the “Company”) (CSE: SKRB) is pleased to announce that phase 1 of its field exploration program at the RDR gold project (“the Project”) is to commence in late-July 2019. The exploration program is designed to delineate drill targets for gold and base metal mineralization on the property.
The RDR property is approximately 264km north-east of Val-d’Or in the province of Québec and 10km southeast of the town of Waswanipi. Access to the RDR Gold Project is via Québec Provincial Highway 113, which runs from Trans Canadian highway 117 near the hamlet of Louvicourt to Chibougamau.
The 2019 proposed work program will involve field work on the property to further investigate the prospectivity for gold and base metal mineralization. The program will include mapping, prospecting and sampling. The intention of the program will be to verify the known mineralization and to investigate the property for further potential. The outcomes of the initial field work will support development of a longer-term exploration strategy and program of works for the RDR project going forward.
The Project area is located in the central region of the Abitibi greenstone belt, within the Superior province. The claims are centered on a north-east band of intermediate tuffs intermixed with sedimentary volcanic rocks, in contact with a large layered ultramafic complex. The complex is bound to the north by a series of mafic to intermediate volcanic rocks. The contact between the tuffs and the ultramafics is defined by the regional-scale Lamarck Fault.
The presence of three, large-scale deformation corridors on the Property are interpreted to be favorable structures for anomalous lode gold mineralization. The contacts between the ultramafic complex and the tuffs of the Obatogamau and Ruisseau Dalime are additional areas of potential mineralization, whilst the presence of felsic volcanics shows potential for VMS-style deposits. Known analogous deposit include Lac Shortt and Lac Bachelor, which in addition to the host gold deposits, both show associations with local intrusions and structures of varying orientation.
About Skarb Exploration
Skarb Exploration is a gold and base metals exploration company with its flagship project being the RDR Project, Quebec, Canada. The Company is exploring the project for gold mineralization whilst adding to its portfolio of prospective exploration projects across Canada. Skarb Exploration is led by a Board and Management team with a track record of success in exploration, development and operations of mining projects globally.
Chief Executive Officer
Skarb Exploration Corp.
+1 778 379 3211
Neither the TSX Venture Exchange nor its Regulations 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.
This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.
Cautionary note Regarding Forward-Looking Information
The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws