Skarb Reports on Exploration Work at the RDR Project, Quebec
December 20, 2019
Vancouver, BC, December 20, 2019 – Skarb Exploration Corp. (“Skarb” or the “Company”) (CSE: SKRB) is pleased to announce that it has completed phase 1 of its field exploration program at the RDR gold project (“the Project”). The exploration program was designed to follow-up historic results and 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 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 deposits 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.
Work Program and Results
A field work program was undertaken over August and September 2019 with a review of all work and results being completed in November and December 2019. Work included prospecting, mapping and rock geochemical sampling. A number of anomalies that merited further investigation were sought-out and prospected for mineral potential. Multiple anomalous gold-in-soil sample and rock sample locations were prospected for outcrop, visual mineralization, and potential drill sites.
18 rock grab geochemical samples were collected throughout the property while prospecting. The best results from the sampling program came from a sample (Sample no. 3217410) of highly chlorite altered gabbro with minor 1-2% pyrite and chaotic quartz stringers. This sample assayed 540 ppm Cu, and 6.3 ppb Au. The remaining samples typically showed elevated copper and gold however, the results do not justify immediate follow-up with drilling.
Following the 2019 work program the Company will now reassess plans for the Project and decide how to proceed in early 2020.
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
The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "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 connation 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 price of commodities, 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, and 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