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Skeena Intersects 13.86 g/t AuEq over 25.27 metres in Hanging Wall Zone at Eskay Creek

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Vancouver, BC (February 10, 2021) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF) (“Skeena” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/) is pleased to report additional diamond drill core results from the Phase 2 campaign 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. The Company has also recently completed a 5,000 m near-mine exploration program at Eskay Creek and is awaiting results. Reference images are presented at the end of this release as well as on the Company’s website.

Eskay Creek Infill Drilling Highlights:

Hanging Wall (HW) Zone

  • 56 g/t Au, 173 g/t Ag (13.86 g/t AuEq) over 25.27 m (SK-20-716)
    • Including:123.50 g/t Au, 1,920 g/t Ag (149.10 g/t AuEq) over 0.50 m
    • And: 85.70 g/t Au, 1,150 g/t Ag (101.03 g/t AuEq) over 2.12 m

21B Zone

  • 30 g/t Au, 80 g/t Ag (16.37 g/t AuEq) over 14.00 m (SK-20-709)

21C Zone

  • 41 g/t Au, 5 g/t Ag (4.48 g/t AuEq) over 22.50 m (SK-20-680)
  • 20 g/t Au, 242 g/t Ag (6.42 g/t AuEq) over 19.00 m (SK-20-699)
    • Including: 41.60 g/t Au, 4,390 g/t Ag (100.13 g/t AuEq) over 1.00 m

 

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.

 

 

Shallow HW Zone Drilling Intersects Impressive Gold and Silver Grades

Infill drilling in the HW Zone has delivered above-average thickness and grades as demonstrated by 11.56 g/t Au, 173 g/t Ag (13.86 g/t AuEq) over 25.27 m (SK-20-716). This intercept occurs only 25 m vertically below surface and is highlighted by exceptional subintervals grading 123.50 g/t Au, 1,920 g/t Ag (149.10 g/t AuEq) over 0.50 m and 85.70 g/t Au, 1,150 g/t Ag (101.03 g/t AuEq) over 2.12 m. This new intercept exceeds the tenor and width of the widely spaced historical drill holes (which were only selectively sampled) which informed the current Mineral Resource Estimate (MRE) for the HW Zone. Nearby historic drilling intersected 2.49 g/t AuEq over 16.00 m and 6.30 g/t AuEq over 14.00 m only 10 and 20 m to the west (CA89-176 and CA90-567). The HW Zone is interpreted as discordant, replacement-style gold-silver mineralization hosted by mafic volcanics with minor interbeds of sediments in the stratigraphic hanging wall to the historically mined Contact Mudstone.

 

21C Zone Drilling Exemplifies Silver Endowment of Eskay Creek Deposits

The 2020 infill drilling campaign targeted an area of Inferred resources within the 21C Zone and confirmed the high silver grades which characterize this zone. A 19.00 m intercept within the Contact Mudstone and underlying footwall Rhyolite averaged 3.20 g/t Au, 242 g/t Ag (6.42 g/t AuEq) with an impressive subinterval grading 41.60 g/t Au, 4,390 g/t Ag (100.13 g/t AuEq) over 1.00 m (SK-20-699). Nearby, 15 m to the west, infill drilling intercepted 1.43 g/t Au, 224 g/t Ag (4.42 g/t AuEq) over 5.48 m including 4.31 g/t Au, 1,150 g/t Ag (19.64 g/t AuEq) over 1.00 m (SK-20-700) within rhyolite breccias.

About Skeena

Skeena Resources Limited is a Canadian mining exploration company focused on revitalizing 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 to advance Eskay Creek to full Feasibility by the end of 2021. Additionally, Skeena continues exploration programs at the past-producing Snip gold mine.

 

On behalf of the Board of Directors of Skeena Resources Limited,

 

Walter Coles Jr.

President & CEO

 

Contact Information

Investor Inquiries: [email protected]

Office Phone: +1 604 684 8725

Company Website: www.skeenaresources.com

 

In Europe:

Swiss Resource Capital AG

Jochen Staiger

[email protected]

www.resource-capital.ch

Qualified Persons

Exploration activities at the Eskay Creek Project are administered on site by the Company’s Exploration Managers, Raegan Markel, P.Geo. and Adrian Newton, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration and Resource Development, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting the exploration activities on its projects.

 

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently securely stored on site. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company’s Qualified Person, Paul Geddes, P.Geo, Vice President Exploration and Resource Development.

 

Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1 kg is pulverized. Analysis for gold is by 50 g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 50 g fire assay fusion with gravimetric finish. Analysis for silver is by 50 g fire assay fusion with gravimetric finish with a lower limit of 5ppm and upper limit of 10,000 ppm. Samples with silver assays greater than 10,000 ppm are re-analyzed using a gravimetric silver concentrate method. A selected number of samples are also analyzed using a 48 multi-element geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) and also for mercury using an aqua regia digest with Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) finish. Samples with sulfur reporting greater than 10% from the multi-element analysis are re-analyzed for total sulfur by Leco furnace and infrared spectroscopy.

Cautionary note regarding forward-looking statements

Certain statements made and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

 

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

 

Table 1: Eskay Creek Project 2020 Length-Weighted Drill Hole Gold and Silver Composites:

 

Hole-ID

From (m)

To (m)

Core Length (m)

Au (g/t)

Ag (g/t)

AuEq (g/t)

Zone

SK-20-671

101.50

126.40

24.90

2.24

46

2.85

21C

   Including

102.85

103.85

1.00

7.70

334

12.15

21C

   and

103.85

104.85

1.00

12.95

508

19.72

21C

SK-20-671

128.70

131.15

2.45

0.88

5

0.95

21C

SK-20-671

134.00

139.55

5.55

1.30

8

1.41

21C

SK-20-671

154.00

168.00

14.00

3.11

7

3.21

21C

   Including

165.40

166.50

1.10

15.05

9

15.17

21C

SK-20-680

123.87

127.00

3.13

1.00

6

1.07

21C

SK-20-680

131.00

136.00

5.00

1.20

7

1.29

21C

SK-20-680

151.00

173.50

22.50

4.41

5

4.48

21C

   Including

160.00

161.25

1.25

24.60

<5

24.60

21C

SK-20-680

180.50

185.00

4.50

0.83

5

0.90

21C

SK-20-690

1.00

21.63

20.63

2.95

28

3.32

21E

SK-20-690

25.90

31.00

5.10

0.83

30

1.23

21E

SK-20-690

58.00

85.50

27.50

1.34

7

1.44

21E

SK-20-690

104.00

115.00

11.00

1.69

6

1.77

21E

SK-20-691

121.83

125.31

3.48

1.13

54

1.85

21C

SK-20-691

161.91

172.50

10.59

0.99

14

1.17

21C

SK-20-691

191.46

198.00

6.54

5.29

9

5.42

21C

SK-20-693

167.80

174.00

6.20

2.89

5

2.96

21C

SK-20-693

180.00

198.80

18.80

1.97

18

2.22

21C

SK-20-693

208.50

211.50

3.00

8.75

10

8.88

21C

   Including

210.00

211.50

1.50

11.35

13

11.52

21C

SK-20-694

181.00

184.00

3.00

0.81

5

0.87

21C

SK-20-694

192.10

206.00

13.90

2.01

11

2.16

21C

SK-20-695

113.47

118.47

5.00

0.64

12

0.80

21C

SK-20-696

160.50

179.00

18.50

0.90

7

1.00

21C

SK-20-696

183.00

195.00

12.00

1.39

10

1.52

21C

SK-20-696

198.00

206.00

8.00

1.09

5

1.16

21C

SK-20-699

81.85

92.23

10.38

1.86

24

2.18

21C

SK-20-699

102.85

108.30

5.45

2.77

14

2.96

21C

SK-20-699

121.00

140.00

19.00

3.20

242

6.42

21C

   Including

121.75

122.75

1.00

41.60

4390

100.13

21C

SK-20-700

115.88

121.36

5.48

1.43

224

4.42

21C

   Including

116.88

117.88

1.00

4.31

1150

19.64

21C

   and

124.15

125.00

0.85

3.62

532

10.71

21C

SK-20-700

129.50

133.67

4.17

0.92

18

1.17

21C

SK-20-700

163.18

170.50

7.32

3.51

7

3.60

21C

   Including

163.18

163.75

0.57

10.90

19

11.15

21C

SK-20-704

120.00

127.13

7.13

3.05

92

4.27

21B

   Including

123.00

123.61

0.61

10.35

216

13.23

21B

SK-20-704

135.50

143.50

8.00

0.90

7

0.99

21B

SK-20-704

151.00

155.50

4.50

0.77

5

0.84

21B

SK-20-705

123.00

129.00

6.00

3.42

96

4.70

21B

   Including

124.20

124.80

0.60

18.30

105

19.70

21B

   and

126.60

127.40

0.80

4.46

464

10.65

21B

SK-20-705

136.00

141.24

5.24

1.07

8

1.17

21B

SK-20-706

125.25

147.00

21.75

1.70

7

1.80

21B

SK-20-707

121.00

136.00

15.00

1.50

22

1.79

21B

SK-20-707

143.50

148.00

4.50

1.02

5

1.09

21B

SK-20-707

161.50

169.00

7.50

1.05

9

1.17

21B

SK-20-708

118.00

143.50

25.50

2.26

53

2.96

21B

   Including

123.00

124.00

1.00

15.65

407

21.08

21B

SK-20-708

146.00

169.00

23.00

1.44

6

1.51

21B

SK-20-708

178.00

188.15

10.15

1.05

9

1.18

21B

SK-20-709

119.00

133.00

14.00

15.30

80

16.37

21B

   Including

125.47

126.00

0.53

325.00

532

332.09

21B

   and

126.00

126.54

0.54

29.20

337

33.69

21B

SK-20-709

151.00

169.00

18.00

1.60

7

1.69

21B

SK-20-709

181.00

183.00

2.00

0.78

11

0.92

21B

SK-20-710

119.00

124.00

5.00

1.52

13

1.69

21B

SK-20-710

126.35

145.00

18.65

1.35

29

1.73

21B

SK-20-710

155.50

161.50

6.00

1.63

6

1.70

21B

SK-20-711

110.00

116.15

6.15

4.03

166

6.24

21B

   Including

115.00

116.15

1.15

13.20

863

24.71

21B

SK-20-711

120.00

123.10

3.10

11.00

341

15.55

21B

   Including

120.00

120.50

0.50

13.60

1340

31.47

21B

   and

120.50

121.31

0.81

18.80

409

24.25

21B

SK-20-711

131.50

143.50

12.00

1.61

104

2.99

21B

SK-20-711

159.65

178.00

18.35

0.79

10

0.92

21B

SK-20-712

123.00

126.28

3.28

2.95

21

3.23

21B

SK-20-712

129.50

137.50

8.00

2.18

36

2.67

21B

SK-20-712

141.50

146.50

5.00

2.12

5

2.19

21B

SK-20-712

149.50

152.00

2.50

1.03

5

1.09

21B

SK-20-713

51.82

56.00

4.18

0.71

29

1.09

21E

SK-20-713

67.07

73.95

6.88

3.04

220

5.98

21E

   Including

72.34

73.22

0.88

4.07

775

14.40

21E

SK-20-714

143.00

146.73

3.73

1.38

42

1.95

21C

SK-20-714

157.50

194.50

37.00

2.03

6

2.11

21C

SK-20-716

31.00

56.27

25.27

11.56

173

13.86

HW

   Including

43.38

43.88

0.50

123.50

1920

149.10

HW

   and

43.88

46.00

2.12

85.70

1150

101.03

HW

SK-20-717

135.87

141.00

5.13

0.94

6

1.03

21C

SK-20-717

143.88

148.00

4.12

0.82

6

0.90

21C

SK-20-718

130.30

138.30

8.00

0.77

6

0.84

21C

SK-20-718

147.50

155.00

7.50

1.78

5

1.85

21C

SK-20-719

122.00

124.42

2.42

1.44

293

5.34

21C

   Including

122.55

123.47

0.92

1.53

726

11.21

21C

SK-20-719

127.50

130.00

2.50

0.97

8

1.08

21C

SK-20-719

135.00

138.84

3.84

0.71

5

0.78

21C

SK-20-719

143.00

154.66

11.66

2.43

10

2.57

21C

SK-20-719

157.22

160.00

2.78

1.39

5

1.45

21C

SK-20-604

 

 

 

 

 

ABANDONED

 

SK-20-615

 

 

 

 

 

ABANDONED

 

SK-20-619

 

 

 

 

 

ABANDONED

 

SK-20-624

 

 

 

 

 

ABANDONED

 

SK-20-630

 

 

 

 

 

ABANDONED

 

SK-20-660

 

 

 

 

 

ABANDONED

 

SK-20-674

 

 

 

 

 

ABANDONED

 

SK-20-682

 

 

 

 

 

ABANDONED

 

SK-20-685

 

 

 

 

 

ABANDONED

 

SK-20-697

 

 

 

 

 

ABANDONED

 

SK-20-701

 

 

 

 

 

NOT DRILLED

 

SK-20-702

 

 

 

 

 

NOT DRILLED

 

SK-20-703

 

 

 

 

 

NOT DRILLED

 

SK-20-715

 

 

 

 

 

NOT DRILLED

 

 

 

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. NSA – No Significant Assays.

 

Table 2Mine Grid Drill Hole Locations and Orientations:

 

Hole-ID

Easting (m)

Northing (m)

Elevation (m)

Length (m)

Azimuth (°)

Dip (°)

SK-20-604

9755.3

10753.6

883.7

40.0

55.1

-76.2

SK-20-615

9755.9

10661.4

913.5

28.0

85.7

-72.5

SK-20-619

9755.9

10661.4

913.5

13.0

98.0

-52.0

SK-20-624

9855.7

10366.1

1008.0

26.0

242.3

-78.2

SK-20-630

9992.4

10785.0

909.7

65.0

167.2

-72.1

SK-20-660

9861.5

10482.4

996.9

18.0

109.9

-76.9

SK-20-671

9812.5

10876.0

845.6

178.0

197.1

-66.9

SK-20-674

9812.3

10874.1

844.7

160.0

214.0

-50.9

SK-20-680

9718.4

10727.0

881.1

189.2

91.9

-59.0

SK-20-682

9718.0

10727.4

876.5

31.0

89.7

-50.9

SK-20-685

9718.0

10727.4

883.6

94.0

96.0

-50.0

SK-20-690

10129.5

10361.8

976.5

115.0

270.3

-75.0

SK-20-691

9678.0

10719.4

857.5

225.0

89.0

-64.3

SK-20-693

9677.7

10719.6

857.9

230.0

96.9

-65.8

SK-20-694

9677.4

10719.9

858.7

230.0

97.4

-61.9

SK-20-695

9675.2

10721.4

858.4

152.0

104.0

-59.9

SK-20-696

9677.1

10720.5

860.4

230.0

103.9

-64.0

SK-20-697

9675.2

10721.4

858.4

26.0

104.3

-68.2

SK-20-699

9717.4

10728.1

887.1

140.0

137.1

-74.0

SK-20-700

9677.0

10720.5

858.8

220.0

110.0

-58.0

SK-20-704

9880.8

10675.7

937.6

160.0

77.1

-74.9

SK-20-705

9881.1

10675.2

931.9

160.0

82.0

-80.0

SK-20-706

9879.6

10676.2

940.1

175.0

115.1

-84.0

SK-20-707

9880.7

10674.7

937.8

175.0

115.3

-78.1

SK-20-708

9880.9

10675.0

938.3

195.0

115.1

-70.0

SK-20-709

9879.9

10676.2

940.7

188.0

127.0

-67.1

SK-20-710

9880.8

10674.8

938.2

178.0

131.0

-73.0

SK-20-711

9880.8

10674.9

937.8

185.0

131.0

-61.9

SK-20-712

9880.6

10674.7

937.7

175.0

140.1

-69.0

SK-20-713

10016.8

10778.4

915.6

75.0

280.1

-69.9

SK-20-714

9753.0

10661.0

912.9

207.0

86.0

-72.1

SK-20-716

9955.9

10729.6

910.3

61.0

65.0

-74.0

SK-20-717

9758.2

10746.3

891.1

148.0

51.8

-86.0

SK-20-718

9757.5

10746.4

894.6

155.0

138.3

-79.9

SK-20-719

9756.8

10746.1

893.1

160.0

134.0

-75.0

 

           

 

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Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

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