Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) (“Skeena” or the “Company”) is pleased to report additional diamond drill core results from the Phase 1 and Phase 2 combined campaigns of definition and exploration drilling at the Eskay Creek Project (“Eskay Creek” or the “Project”) located in the Golden Triangle of British Columbia. The Phase 2 infill program, focused upon resource category conversions for the Pre-Feasibility Study (“PFS”) on open-pit constrained resources, is now complete. Six drill rigs are now active at the Project performing near-mine exploration. Reference images are presented at the end of this release as well as on the Company’s website.
Eskay Creek Infill Drilling Highlights 21B and 21C Zones
- 3.18 g/t Au, 27 g/t Ag (3.54 g/t AuEq) over 40.50 m (SK-20-492)
- 4.67 g/t Au, 35 g/t Ag (5.14 g/t AuEq) over 21.50 m (SK-20-493)
- 4.73 g/t Au, 67 g/t Ag (5.63 g/t AuEq) over 22.80 m (SK-20-563)
- 5.69 g/t Au, 151 g/t Ag (7.70 g/t AuEq) over 22.11 m (SK-20-584)
- 7.17 g/t Au, 146 g/t Ag (9.12 g/t AuEq) over 49.60 m (SK-20-579)
Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70-100% of reported core lengths. Length weighted AuEq composites are constrained by geological considerations. Grade-capping of individual assays has not been applied to the Au and Ag assays informing the length-weighted AuEq composites. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at 100%. Samples below detection limit were nulled to a value of zero.
Thick High-Grade Intersection within 21C Zone Development Buffer
The completed Phase 2 infill program was designed to convert Inferred resources to Indicated and Measured categories; results are encouraging and continue to demonstrate the high tenor of the proposed Eskay Creek open-pit mine. Most notably, the intersection of 7.17 g/t Au, 146 g/t Ag (9.12 g/t AuEq) over 49.60 m in the 21C Zone (SK-20-579) is within the 25 m “development buffer” around historic workings that Skeena was previously restricted from drilling. Mineralization here is hosted largely in footwall rhyolite flows and breccias with a short interval of lessor grade contained within the hanging wall Contact Mudstone. The drill hole pierced historical backfilled workings (at 158.00-159.50 m) which was incorporated as zero grade dilution within the reporting of the length-weighted composite, above.
Approximately 200 m to the east in the 21B Zone, unexpected remnant mineralization, left by the previous operator, was intersected in the Contact Mudstone in the immediate hanging wall to a backfilled stope as demonstrated by 13.32 g/t AuEq over 2.61 m (SK-20-563). In the footwall to the same stope, additional high-grade was expected in the rhyolite and was confirmed by a thick intersection grading 5.63 g/t AuEq over 22.80 m. This corroborates the existing rhyolite-hosted inferred resources.
Overall, the incoming results from the Phase 2 infill drilling program continue to validate the predicted and modelled Inferred mineralization which was informed by widely spaced historical drill holes in the Skeena 2019 Mineral Resource Estimate (MRE).
Skeena Resources Limited is a mining exploration company focused on developing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a robust Preliminary Economic Assessment in late 2019 and is currently focused on infill and exploration drilling at Eskay Creek to advance the project to Prefeasibility. Skeena is also exploring the past-producing Snip gold mine.