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Skeena Intersects 33.82 g/t AuEq over 22.50 metres at Eskay Creek

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Vancouver, BC (May 5, 2020) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF) (“Skeena” or the “Company” - https://www.rohstoffnacht-tv.de/mediathek/play/skeena-resources-neustart-von-eskay-creek-mine-in-kanada-laeuft-nach-plan/ ) is pleased to announce final gold-silver drill results for the 4,327 metres completed so far this year from the Company’s 2020 Phase I surface drilling program at the Eskay Creek Project (“Eskay Creek”) located in the Golden Triangle of British Columbia. Four surface drill rigs were utilized for the 2020 Phase I program in the 21A, 21B and 21C Zones to infill drill and enable upgrading areas of Inferred resources to the Indicated classification. Reference images are presented at the end of this release as well as on the Company’s website.

Phase I Eskay Creek Drilling Highlights

  • 32.21 g/t Au, 121 g/t Ag (33.82 g/t AuEq) over 22.50 m (SK-20-270) – 21B Zone

Including 753.00 g/t Au, 445 g/t Ag (758.93 g/t AuEq) over 0.83 m

  • 5.90 g/t Au, 14 g/t Ag (6.09 g/t AuEq) over 24.55 m (SK-20-271) – 21B Zone

Including 25.60 g/t Au, 56 g/t Ag (26.35 g/t AuEq) over 1.50 m

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100%. Samples below detection limit are nulled to a value of zero.

 

21B Zone Continues to Demonstrate High Tenor
Infill drilling within the 21B Zone has intersected substantial high-grade mineralization as predicted and demonstrated by adjacent intercepts of 32.21 g/t Au, 121 g/t Ag (33.82 g/t AuEq) over 22.50 m, including 753.00 g/t Au, 445 g/t Ag (758.93 g/t AuEq) over 0.83 m (SK-20-270). This mineralization is hosted within the contact mudstones as well as mudstone-rhyolite breccias and improves upon the grades from the surrounding historical drill holes, including 4.94 g/t AuEq over 19.75 m (6636) and 0.73 g/t AuEq over 3.32 m and 0.88 g/t AuEq over 6.13 m (CA90-537).

Increased gold-silver tenor in the 21B Zone was established by an intersection in Phase I drilling of 5.90 g/t Au, 14 g/t Ag (6.09 g/t AuEq) over 24.55 m (SK-20-271) which is proximal to another historical intercept from a 1997 surface drill hole which averaged 3.07 g/t AuEq over 18.26 m (C97853).

The Phase I infill drill program at Eskay Creek continues to predictably confirm the grades and spatial limits of the resource model that was derived largely from the historical drilling database.

About Skeena
Skeena Resources Limited is a junior Canadian mining exploration company focused on developing prospective precious metal properties in the Golden Triangle of northwest British Columbia, Canada. The Company’s primary activities are the exploration and development of the past-producing Eskay Creek gold-silver mine. 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 Pre-feasibility. Skeena is also exploring the past-producing Snip gold mine.

 

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



Walter Coles Jr.
President & CEO

 

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, Colin Russell, 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 its exploration activities on its exploration 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 1kg is pulverized. Analysis for gold is by 50g 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 100ppm are re-analyzed using a 50g fire assay fusion with gravimetric finish. Analysis for silver is by 50g fire assay fusion with gravimetric finish with a lower limit of 5ppm and upper limit of 10,000ppm. Samples with silver assays greater than 10,000ppm are re-analyzed using a gravimetric silver concentrate method. A selected number of samples are also analyzed using a 48 multi-elemental 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 TSX Venture 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 Phase I 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-20-265

 149.62

 169.00

 19.38

 2.68

 27

3.05

 21B

 INCLUDING

 158.42

 159.19

 0.77

 19.15

 550

26.48

 21B

SK-20-266

 141.92

 169.85

 27.93

 1.67

 5

1.74

 21B

SK-20-267

 

 

 

 

 

ABANDONED

 21B

SK-20-268

 166.00

 180.00

 14.00

 2.01

 5

2.08

 21B

SK-20-269

 135.00

 147.96

 12.96

 1.12

 14

1.31

 21B

SK-20-269

 155.00

 162.50

 7.50

 1.55

 7

1.65

 21B

SK-20-270

 137.00

 159.50

 22.50

 32.21

 121

33.82

 21B

 INCLUDING

 138.00

 139.00

 1.00

 12.35

 167

14.58

 21B

 AND

 139.00

 139.50

 0.50

 14.35

 957

27.11

 21B

 AND

 139.50

 140.50

 1.00

 2.64

 1,375

20.97

 21B

 AND

 150.50

 151.00

 0.50

 13.25

 8

13.36

 21B

 AND

 151.00

 152.00

 1.00

 18.60

 31

19.01

 21B

 AND

 153.00

 154.00

 1.00

 24.20

 58

24.97

 21B

 AND

 154.00

 154.83

 0.83

 753.00

 445

758.93

 21B

SK-20-271

 147.45

 172.00

 24.55

 5.90

 14

6.09

 21B

 INCLUDING

 159.50

 160.00

 0.50

 11.80

 17

12.03

 21B

 AND

 160.00

 161.50

 1.50

 10.50

 8

10.61

 21B

 AND

 163.00

 164.50

 1.50

 20.90

 95

22.17

 21B

 AND

 164.50

 166.00

 1.50

 25.60

 56

26.35

 21B

 AND

 169.60

 170.10

 0.50

 11.00

 <5

11.00

 21B

 AND

 170.10

 171.00

 0.90

 18.95

 6

19.03

 21B

SK-20-272

 

 

 

 

 

ABANDONED

 21A

SK-20-273

 125.16

 142.50

 17.34

 0.64

 29

1.02

 21A

SK-20-274

 

 

 

 

 

NOT YET DRILLED

 

SK-20-275

 

 

 

 

 

NOT YET DRILLED

 

SK-20-276

 

 

 

 

 

NOT YET DRILLED

 

SK-20-277

 

 

 

 

 

NOT YET DRILLED

 

SK-20-278

 

 

 

 

 

NOT YET DRILLED

 

SK-20-279

 

 

 

 

 

NOT YET DRILLED

 

SK-20-280

 

 

 

 

 

NOT YET DRILLED

 

SK-20-281

 

 

 

 

 

NOT YET DRILLED

 

SK-20-282

 

 

 

 

 

NOT YET DRILLED

 

SK-20-283

 

 

 

 

 

NOT YET DRILLED

 

SK-20-284

 

 

 

 

 

NOT YET DRILLED

 

SK-20-285

 138.00

 148.00

 10.00

 2.67

 11

2.82

 21B

SK-20-286

 149.85

 157.50

 7.65

 3.13

 6

3.20

 21B

SK-20-287

 

 

 

 

 

ABANDONED

 

SK-20-288

 140.50

 148.40

 7.90

 1.32

 122

2.95

 21A

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Length weighted AuEq composites were 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. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100%. Samples below detection limit were nulled to a value of zero.

Table 2: Mine grid Phase I drill hole locations and orientations:

HOLE-ID

EASTING

NORTHING

ELEVATION

LENGTH (M)

AZIMUTH

DIP

SK-20-265

9813.4

10632.5

937.9

179.0

109.9

-60.0

SK-20-266

9813.4

10632.5

937.9

184.0

115.1

-66.0

SK-20-268

9788.9

10641.4

929.1

186.0

84.5

-59.2

SK-20-269

9789.0

10640.2

929.1

164.0

120.6

-74.1

SK-20-270

9788.4

10640.5

929.1

165.0

136.6

-73.4

SK-20-271

9828.7

10639.8

940.3

172.0

108.2

-76.7

SK-20-272

9756.4

10252.4

1010.5

5.0

151.8

-61.8

SK-20-273

9752.4

10253.9

1010.1

154.0

149.7

-74.1

SK-20-285

9842.7

10601.0

946.1

168.0

115.8

-69.2

SK-20-286

9828.3

10641.4

939.5

182.0

97.3

-68.2

SK-20-287

9753.2

10252.1

1010.2

13.6

150.2

-62.0

SK-20-288

9752.4

10253.9

1010.1

154.0

150.2

-62.0

 

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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.

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